SNB & CHF

The yen is off about 1% this month to bring the year-to-date decline to about 2.4%. It fell by 12.2% in 2022 and 10.3% in 2021. The yen rallied against the dollar for the five preceding years. Over that five-year period the dollar fell from around JPY124 to JPY99, but it was all done in H1 16, and after a rally at the end of 2016 and very early 2017 (to about JPY118.65), the dollar ground down around JPY101. This year’s dollar low was set in mid-Jan near JPY127.25...

Overview:  The dollar is mostly lower, led by the Swiss franc and euro. However, despite softer US rates and a victory for the LDP in local Japanese elections, the yen is trading with a softer bias. Japanese stocks recovered from the pre-weekend profit-taking seen after the Nikkei make new highs for the year. Most other large bourses in the region except Taiwan and India also moved lower. Note that China's CSI 300 fell for the fourth consecutive session and the...

Politicians like Elizabeth Warren and Alexandria Ocasio-Cortez are demanding that successful entrepreneurs be taxed into oblivion. The real parasites are the politicians who destroy wealth instead of creating it. Original Article: "Who Are the Wealth Destroyers, Politicians or Billionaires?" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...

The bipartisan RESTRICT Act—marketed as a "Tik Tok ban"—is properly named because it will restrict freedom, empower the state, and expand government surveillance.  Original Article: "The RESTRICT Act Launches a New War on Free Speech" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...

As governments create a housing crisis, Marxists call for policies that will make the crisis worse. Original Article: "Marxists Have a Plan for Housing: Make Sure There Is Less Available" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content] Tags: Featured,newsletter

Mark looks at the price of Apple stock—one of the best performing stocks over the last quarter century, and one of the largest holdings in stock indexes, mutual funds, and Berkshire Hathaway portfolio. Market watchers have kept a keen eye on Apple as it heads for a new all-time high; but, Mark is concerned that a downturn would have a huge ripple effect on the overall market—possibly equivalent to a tsunami.  Be sure to follow Minor Issues at...

As April draws to a close, the systemic stress in the banking sector continues to subside, and the market is turning its attention to likely rate hikes by Federal Reserve and European Central Bank in early May. Although, as in March, the market sees the May hike to 5.25% to be the last Fed hike. Before the bank stress, the swap market had been leaning to a 5.75% terminal rate. It is still early to fully appreciate the magnitude and duration of the tightening in...

[From chapter 23 of The Case Against the Fed.] Having examined the nature of fractional reserve and of central banking, and having seen how the questionable blessings of Central Banking were fastened upon America, it is time to see precisely how the Fed, as presently constituted, carries out its systemic inflation and its control of the American monetary system. Pursuant to its essence as a post-Peel Act Central Bank, the Federal Reserve enjoys a monopoly of the...

Continued inflation inevitably leads to catastrophe. —Ludwig von Mises Consumers’ behaviors cause the consumer price index (CPI) broad heading of food to understate the real or wallet level of inflation. It is much worse than the top line statistic—it is a serious offense to the poor and fixed-income citizens. The CPI measures nominal dollar changes based on month over month and year over year for 299 items. The year ending December 2021 posted an overall CPI of 3.4...

Professor Per Bylund joins Bob to debunk the worries over AI and to question whether the latest version of chatbots should even be called "intelligent." Per on Robots Taking your Jobs: Mises.org/HAP392a [embedded content] [embedded content] Tags: Featured,newsletter