SNB & CHF

Authorities have registered over 16,500 refugees from Ukraine in federal asylum centres like the one pictured here in Basel, which Justice Minister Karin Keller-Sutter and the head of the State Secretariat for Migration Christine Schraner Burgener visited last week. © Keystone / Ennio Leanza Diaspora TV Switzerland launched a new service in Ukrainian on Sunday to help meet the information needs of refugees arriving from the war-torn country. The new service, which is...

Algorithmic stablecoins may be the solution to our 15-year monetary malfunction. We consider where and if stablecoins fit into money creation, intermediation and whether they'd be units of account, stores of wealth and/or mediums of exchange. ----EP. 208 REFERENCES---- *The* Monetary Answer: Undoing The Biggest Money Mistake of the Past: https://bit.ly/3IKVlLz Alhambra Investments Blog: https://bit.ly/2VIC2wWlin RealClear Markets Essays: https://bit.ly/38tL5a7 -----SEE ALL EPISODES-----...

An advisor to Ukrainian President Volodymyr Zelensky says the Swiss should be more proactive in looking for Russian funds. But according to a legal expert, current regulations do not allow authorities or banks to do more active searches beyond what’s in their current registers. Zelensky’s advisor, Alexander Rodnyansky, said that for Ukraine, it’s “vital” that Switzerland contributes to international pressure on Russia so the war will end. The Alpine country can make...

The recent themes in the foreign exchange market continued last week. On the one hand, the dollar-bloc currencies and Norwegian krona trended higher, while the euro, and especially the yen, traded heavier. On the other hand, although some critics argued that the Fed's 25 bp rate hike earlier this month was too timid, the Fed is signaling it could accelerate the pace. The interest rate adjustment continued in dramatic fashion. The Fed funds futures imply almost a...

Stocks don’t vanish when sold; somebody owns the shares all the way to the bottom. These owners who refuse to sell because they have convinced themselves the next dip will be the hoped-for resumption of the bullish trend are called “bagholders.” Trends are tricky. Humans anticipate the present conditions will continue on into the future. In economics and finance, we call this continuation a “trend.” Trends continue until something fundamental changes and the trend...

L’enfumage de la com occidentale dénoncé dans ce débat. Si la crise ukrainienne a détruit un espace, ce n’est pas le russe mais celui de l’UE. Ecoutez cet échange pour sortir de l’ignorance générée activement par la désinformation diffusée en boucles par certains médias. Transfert et privatisation de la création monétaire, délocalisation des outils de production et d’artisanat historiques, financiarisation des banques centrales et des activités de l’Etat en général,...

The Federal Reserve's rate hike increased the reverse repo program rate, the so-called rate "floor". But why then are the 4- and 8-week US Treasury Bills trading BELOW the floor? Because there's a collateral shortfall. A monetary deflation perhaps? ----EP. 207 REFERENCES---- The Fed Inadvertently Adds To Our Ironclad Collateral Case Which Does Seem To Have Already Included A ‘Collateral Day’ (or days): https://bit.ly/3wFfRv2 Alhambra Investments Blog:...

This year was supposed to be about the easing of the pandemic and the normalization of policy. Instead, Russia's invasion of Ukraine threw a wrench in the macroeconomic forecasts as St. Peter’s victories broke the brackets of the NCAA basketball championship pools. The war has pushed up the price of energy, metals, and foodstuffs, which seemed to be advancing prior to the conflict.  High-frequency economic data are important because of the insight generated about...

With inflation at a forty-year high, it is the topic on everyone’s mind. US core inflation has reached 7.5 percent year over year, and the prices of certain goods, such as used cars and steak, are up as much as 50 percent over the past year. This is a major threat to the current administration, with a recent poll showing that 70 percent of Americans disapprove of Joe Biden’s handling of inflation. Inflation is incredibly unpopular with voters, and there is a strong...

The phenomenon of currency devaluation and its consequences is a process that not only occurred in modern times, but has much deeper roots, going back to antiquity. With the collapse of the Roman Republic, Caesar’s grandnephew Gaius Octavianus, renamed Augustus, rose to power and soon implemented a far-reaching monetary reform for the Roman common market. The old republican trimetallic system of different denominations of silver, brass, and bronze became a new...