SNB & CHF

As in the Gulag it replicates, the innocent are swept up with the guilty in a disconcertingly unjust ratio. The human mind is not particularly well-adapted to polycrisis: we struggle to adapt to the drought, then the earthquake knocks down the village walls, then the tsunami pounds what was left, followed by the epic flooding, then the hurricane batters the survivors, who witness the volcano erupting and wonder what they did to anger the gods and goddesses so...

The leviathan US state would not be possible without the Fed underwriting its growth. But the Fed is not all-powerful, nor can it continue to exist by only creating chaos. Original Article: If the Fed Goes, The State Will Soon Follow [embedded content] Tags: Featured,newsletter

The impending decline of the dollar is apparently imposing a real Halloween scare on the American foreign policy establishment. An August 22, 2023, article on the Council on Foreign Relations website entitled “The Future of Dollar Hegemony” explained that  the dollar’s global hegemony gives the U.S. government power to impose crippling sanctions and wage other forms of financial welfare against adversaries. . . . In 2022, more than twelve thousand entities were under...

Mises Institute president Thomas DiLorenzo joins Ryan and Tho to discuss the moralistic claims behind American foreign policy. These claims intensified with the American Civil War and became a creed of American nationalists by the twentieth century. With the rise of the global dollar and dollar hegemony, America's foreign crusades became ever larger and more frequent.  "False Virtue: The Life and Death of 'American Exceptionalism'" by Thomas J....

In September 2022, the Swiss National Bank (SNB) raised its policy rate back into positive territory. At the same time, it adopted a new approach to implementing monetary policy in the money market. This approach employs two levers: the tiered remuneration of reserves, also referred to as reserve tiering, and reserve absorption. The speech explains why, with a large central bank balance sheet, remunerating the reserve holdings of commercial banks is the only...

As part of its contribution to the stability of the financial system, the Swiss National Bank acts as lender of last resort. In this role, it makes emergency liquidity assistance available to banks when, in crisis situations, they need substantial liquid funds which they are no longer able to obtain on the market. The SNB provides this liquidity assistance in the form of secured loans. It accepts a broad range of collateral for this – in particular also illiquid...

By popular thinking, whenever the central bank raises the growth rate of the money supply through the buying of financial assets such as Treasuries this pushes the prices of Treasuries higher and their yields lower. This is labeled as the monetary liquidity effect. This effect is inversely correlated with interest rates. Furthermore, an increase in the money supply after a time lag strengthens economic activity and this pushes interest rates higher. Note that we have...

Share: Pound Sterling struggles for a direction as investors shift focus to the Q3 GDP data. A poor GDP report would elevate dovish expectations from various BoE policymakers. Rising energy prices have squeezed the UK’s consumer spending. The Pound Sterling (GBP) is stuck in a tight range as investors seem unwilling to build fresh positions...

The AI and robotics revolution continues. As entrepreneurs find new ways to use these things profitably, the overall wealth of nations increases. Original Article: The Fate or Wealth of Nations: AI, Robotics and Automation [embedded content] Tags: Featured,newsletter

read aloud pause X Retail banks have increased investment in digital marketing by 16% in a bid to attract younger clients.  Share Facebook Twitter E-mail Print Copy link In 2023, budgeted sums in this segment will total CHF 47.6 million ($52.8 million), up 16% on last year, according to an estimate by Colombus Consulting in its study on the digitalisation of the customer experience, published on Thursday.UBS, Postfinance and Raiffeisen...