SNB & CHF

Today marks the second and final day in what could very well be Julian Assange’s last extradition trial in front of the British High Court. For almost five years now, the United States government has been working to get the Wikileaks founder extradited to the US to face charges that he violated the Espionage Act. Inspired by Daniel Ellsberg’s release of the Pentagon Papers back in 1971, Julian Assange founded Wikileaks in 2006. Assange’s vision was to develop an...

Overview: The dollar is trading quietly after being sold yesterday. It is still soft against the dollar bloc and the Swiss franc but is firmer against the other G10 currencies. Narrow ranges have dominated. Emerging market currencies are mixed, with central European currencies and the Taiwan dollar trading softer. The offshore Chinese yuan is firmer for the sixth consecutive session. The highlights of today's North American session features minutes from last month's...

While US taxpayers pay billions for military missions around the world in the name of “keeping us safe,” the federal government fails to keep residents of the nation’s capital safe from violent crime. Original Article: Forget Being the World's Policeman; the Federal Government Can't Even Keep DC Safe [embedded content]...

When Adam Smith and the English classicals promoted division of labor as the most important ingredient in economic development, it took Carl Menger and his Austrian successors to point out that error and promote the proper economic theory of production. Original Article: How Carl Menger and the Austrians Helped to Steer Economic Theory in the Right Direction [embedded content]...

Social Security is headed for reduced benefits, and no amount of political rhetoric or even tax increases will solve that problem. The numbers do not lie. Original Article: Social Insecurity: It’s Not Wrong to be Concerned about Facts [embedded content] Tags: Featured,newsletter

The euphoria with the fourth quarter Gross Domestic Product (GDP) figure makes no sense. The headline champions say that real GDP increased at an annual rate of 3.3% in the fourth quarter of 2023, according to the Bureau of Economic Statistics (BES). An increase in real GDP of $1.5 trillion with an increase in public debt of more than $2 trillion is not a strong economy. It is a bloated economy. Furthermore, there is nothing positive in consumption when personal...

In response to the many shortcomings of the Soviet Union, Mao Zedong’s China, and Venezuela, the refrain, “It wasn’t real socialism,” has emerged as a rallying cry among apologists of socialism. Some readily admit the failures of these regimes and attribute the failures to capitalism rather than socialism. Some refuse to recognize the failure whatsoever; they see these experiments as genuine instances of “real socialism” and perceive them to be unequivocal...

Most public-school graduates have heard that Thomas Paine wrote something that convinced the colonies to declare their independence—though if they’re older than twenty-one their memory probably needs jogging. A few can even name what he wrote: Common Sense. And some can even incorrectly attribute a famous line to that pamphlet: “These are the times that try men’s souls.” With rare exceptions, most people don’t give a whit about Paine or what he wrote. But then, most...

Overview: The US dollar is offered today. It is trading softer against all the G10 currencies, with the yen the notable exception, and it is flat. The Antipodean are leading the way, taking out last week's highs, as has the euro. That said, the intraday momentum indicators are stretched as NY dealers return from the long holiday weekend. The Scandis are also trading above last week's highs. The yen, sterling, Canadian dollar, and Swiss franc are still inside last...

The war in Ukraine is two years old. Inside Geneva discusses the latest military developments in Ukraine, the chances of peace and where the war will go from here. “Isn’t there a limit when there are so many civilian deaths so you as a state have a responsibility to stop?” asks journalist Gunilla van Hall.  How will this war end? Ukraine, with the West’s support, is fighting a regime that poisons, imprisons, and kills its political opponents. Inside Geneva...