SNB & CHF

The Misesian (TM): You have remarked that after 1900, all the pieces come into place for modernity in terms of the American warfare state. What are some of these pieces and how did they fall into place at that time?Hunt Tooley (HT): To some extent, the state has always used wars to maintain and increase domestic control.Shakespeare assumed as much in the famous instructions the dying Henry IV gives to his son: “Therefore, my Harry, be it thy course to busy giddy...

Americans are increasingly uneasy about their “national” security, and increasingly concerned that war is lapping at our shores. Instead of reducing the risk of harm to America and our interests, the federal government in Washington seems to be seeking it, investing in it, fueling it and lying about it.Congress openly talks about fighting wars and reliably funds them, and we can easily verify that it’s piled billions of dollars into this particular spending basket....

I have four children, one of whom is grown, and all of them have grown up under a government that has continually waged elective and aggressive wars. There has never been a time in any of my children’s lives that Washington politicians were not incessantly haranguing the public about how “we are at war” and that anyone who opposes the regime is “with the terrorists,” “a foreign agent,” “unpatriotic,” or “anti-Semitic.” There has never been a time in their lives that...

Herbert Butterfield was Regius Professor of History at Cambridge University. He was a renowned historian, who contributed important books on diplomatic history, the history of historical writing, the politics of George III, and the history of science. He and Leonard Liggio—a close associate of Murray Rothbard for many decades—were friends.I would like to concentrate on an aspect of Butterfield’s thought, likely to be of considerable interest to libertarians,...

In a recent discussion with Adam Taggart via Thoughtful Money, we quickly touched on the similarities between the U.S. and Japanese monetary policies around the 11-minute mark. However, that discussion warrants a deeper dive. As we will review, Japan has much to tell us about the future of the U.S. economically. Let’s start with the deficit. Much angst exists over the rise in interest rates. The concern is whether the government can continue to fund itself, given...

New understanding of tourism to ensure sustainable development Keystone-SDA Listen to the article Listening the article Toggle language selector...

New understanding of tourism to ensure sustainable development Keystone-SDA Listen to the article Listening the article Toggle language selector...

Do you know the term “matinee”? Originating from the French matinée, it means “morning” and it refers to artistic presentations or exhibitions held during the day. In the United States of the 1930s and 1940s, matinees were especially popular for airing “sitcoms”—weekly episodes full of adventure and suspense that kept audiences looking forward to the next chapter. These serials only arrived here in Brazil between the 50s and 60s.Using a political analogy, socialism...

The Swiss National Bank (SNB) Chairman Thomas Jordan on Thursday acknowledged difficulties that the strong Swiss Franc is causing for Swiss industry, which is already dealing with weaker demand from other European countries, per Reuters.   Key quotes The mandate of the SNB is to maintain price stability—a crucial precondition for society and a good functioning economy. Price stability is a crucial precondition for prosperity.Germany and Europe...

Russia carried out several air attacks on Ukraine this week, costing Moscow an estimated £1.1 billion. Meanwhile, Ukraine has warned it is closely watching on its border with Belarus after a recent buildup of troops there, according to Sky News.  Last week, Kyiv's foreign ministry accused Minsk of concentrating a "significant number of personnel" in the Gomel area near Ukraine's northern border "under the guise of exercises."  Market reaction...