SNB & CHF

Aid workers load Swiss humanitarian relief supplies onto a train bound for Ukraine. Swiss Humanitarian Aid Unit Around 35 tonnes of emergency aid, including medical equipment and tents, sent from Switzerland to help victims of the war in Ukraine have arrived in the capital, Kyiv. “The aid is urgently needed for hospitals serving the Ukrainian population,” the Swiss Humanitarian Aid Unit (SHA) tweeted on Sunday. A large part of the humanitarian aid had been flown from...

The Swiss National Bank (SNB) has renewed the Statement of Commitment to the FX Global Code based on the revised version of the Code dated July 2021. By signing this Statement, the SNB attests that its internal processes are consistent with the principles of the FX Global Code. The SNB also expects its regular counterparties to comply with the agreed rules of conduct. The FX Global Code sets out principles of good practice in the foreign exchange market. It was first...

On Whom Does the Incidence Fall? Whenever a law or labor union pressure burdens the employers with an additional expenditure for the benefit of the employees, people talk of “social gains.” The idea implied is that such benefits confer on the employees a boon beyond the salaries or wages paid to them and that they are receiving a grant which they would have missed in the absence of such a law or such a clause in the contract. It is assumed that the workers are...

In this clip, Keith Weiner and I go over the 5 bear cases for gold & silver. The full conversation took place on March 2, and can be viewed here: https://resourcetalks.com/gold/keith-weiner-on-manipulation-4-bear-cases-for-gold-silver/ Keith Weiner tells me that there aren't many bear cases for gold & silver, but he is worried what would happen to the metals, if the FED actually goes through with its rate hikes, though Weiner believes that's nearly impossible. Timestamps: 00:00...

Overview:  The economic disruption seen since the US warning of an imminent Russian attack on February 11 continue to ripple through the capital and commodity markets.  Equities are being slammed.  Most Asia Pacific bourses were off 2-3% today. Europe’s Stoxx 600 gapped lower ad has approached February 2021 levels, orr about 2.6% today.  US futures are around 1.5% lower. The reaction in the major bond markets is subdued.  The US 10-year yield is near 1.72%, off...

Franc is currently sought after as a refuge currency Franc appreciation also reflects inflation differential between Switzerland and other countries The franc continues to be highly valued SNB looks at overall currency situation Individual currency pairs do not play a special role Some verbal intervention there by the SNB but in typical cases for the franc, actions speak louder than words. That said, this could be a precursor before the “invisible hand” steps in. So,...

© Radomír Režný | Dreamstime.com The high inflation across the world is rippling as far as Switzerland. During the month of February 2022, Swiss prices rose 0.7%. Compared to the same month in 2021, prices were 2.2% higher, making this the highest price increase in two decades. The 0.66% monthly consumer price rise in February represents an annualised rate of 7.9%. Essentially, if the latest monthly rate of inflation were to continue for 12 months it would push...

If only, like in the aftermath of the Apollo 13 explosion, we could just radio Houston to get started in figuring out just the way out of our fix. Mission Control would certainly buzz all the right people with the right stuff, summoning the best engineers and scientists from their quiet divans to the frenzied and dangerous work ahead. Sadly, in this context all we could ever turn to is Economists. And from Houston, we aren’t like to extract any more oil. The US...

SEZs are loopholes, and capitalism breathes through loopholes. But like all loopholes, they tend to benefit those who can afford to hire the lawyers who can identify said loopholes. Original Article: “What Would Mises Have Thought of “Special Economic Zones”?” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. [embedded content] You Might Also Like...

This week, 120,9017 new Covid-19 cases were reported in Switzerland, up 24% from the 97,335 cases reported a week earlier. In addition, the reported number of Covid-19 patients hospitalised edged up slightly from 340 to 352 compared to the week before. Photo by cottonbro on Pexels.comThe 7-day average case number had been in constant decline since the end of January. However, the number began to turn upwards in the days leading up to the end of February. On 4...