SNB & CHF

It’s that time again when the US government has to prepare itself for an internal battle to raise the debt ceiling so it can meet various obligations. This is a merry dance that has been danced before, as we mention below. For sure, every time it happens fewer and fewer people are convinced of the trustworthiness of the US dollar. This combined with the recent announcement by Saudi Arabia of its willingness to consider trading in currencies other than the US Dollar...

The Producer and Import Price Index fell in December 2022 by 0.7% compared with the previous month, reaching 108.5 points (December 2020 = 100). Compared with December 2021, the price level of the whole range of domestic and imported products rose by 3.2%. Average annual inflation in 2022 reached +5.6%. These are the results from the Federal Statistical Office (FSO). Average annual inflation for 2022 corresponds to the rate of change between the annual average for...

Overview:  Yesterday's string of dismal US economic data delivered a material blow to those still thinking that a soft-landing was possible. Retail sales by the most in the a year. Manufacturing output fell by nearly 2.5% in the last two months of 2022. Bad economic news weighed on US stocks. The honeymoon of New Year may have ended yesterday. The US 10-year yield fell below 3.40% for the first time since the middle of last September. The Atlanta Fed's GDPNow...

WARNING! You Should Know Why The Markets Are Preparing For The Worst Breakdown - Jeffrey Snider Educate my audience about free market economics and the principles and benefits of individual liberty, limited government, and sound money. These are America's founding principles, guaranteed by the U.S. Thanks For Watching Our Video 🤗 Please, like, comment, subscribe, and ring the bell! EVERYTHING helps us grow!. Subscribe Here: 🙏 +++Disclaimer +++ Information presented on this channel is...

Should the wealth effect reverse as assets fall, capital gains evaporate and investment income declines, the top 10% will no longer have the means or appetite to spend so freely. Soaring wealth-income inequality has all sorts of consequences. As many (including me) have noted, the concentration of wealth and income in the top 0.1% has enabled the few to buy political influence to protect their interests at the expense of the many and the common good. In other...

The crypto sector appears to be suffering an existential crisis, shedding jobs, client funds and credibility. Switzerland looks to have escaped with a glancing blow – if industry data is anything to go by. The collapse of the Terra stablecoin and the FTX crypto exchange last year sent negative ripples across the globe. Big name crypto firms such as the Coinbase and Huobi exchanges, Silvergate bank and Genesis are laying off large chunks of staff. That’s to avoid the...

In 2011, the Federal Reserve invented new accounting methods for itself so that it could never legally go bankrupt. As explained by Robert Murphy, the Federal Reserve redefined its losses so as to ensure its balance sheet never shows insolvency. As Bank of America’s Priya Misra put it at the time: As a result, any future losses the Fed may incur will now show up as a negative liability (negative interest due to Treasury) as opposed to a reduction in Fed capital,...

Ludwig von Mises’s book The Theory of Money and Credit is a masterwork of monetary theory. Despite being written in the early twentieth century, its arguments and conclusions are still valid and interesting today. Mises describes five characteristics that are vital to the function of money: marketability, durability, fungibility, trustworthiness, and convenience. The history of money is straightforward. Markets developed and expanded as long as the private sector...

The US may already be in recession. Truly ugly data across-the-board confirm the end of "inflation" for all the wrong (bad) reasons. But why wasn't the public told ahead of time? Markets had priced exactly what we are now seeing, yet officials dismissed those warnings because they don't really know what they are doing. Eurodollar University's Money & Macro Analysis Global system hyperventilating...

Overview: The BOJ defied speculation and stuck to its current policy, which saw the yen sell-off sharply. The dollar rallied about 3.4 yen before falling back. The greenback is broadly lower against the other G10 currencies. However, for the fifth consecutive session, the euro has stalled around $1.0870. While UK headline inflation softened, mostly due to fuel, core prices were unchanged, and this may have helped sterling extend its recent gains to almost $1.2365....