SNB & CHF

  Das ungedeckte Papiergeldgeldsystem – man kann es auch als Fiat-Geldsystem bezeichnen – ist wirtschaftlich und sozial äußerst problematisch. Es verursacht Schäden, die vermutlich weit über die Vorstellungen der meisten Menschen hinausgehen. Beispielsweise ist das Fiat-Geld inflationär; es begünstigt einige wenige auf Kosten vieler; es verursacht Konjunkturzyklen („Boom-und-Bust“); es korrumpiert das Moral- und Wertesystem...

© Udra11 | Dreamstime.com Sometimes comparisons are drawn between the seasonal flu and Covid-19. But how many die from the seasonal flu in a typical year? According to Switzerland’s Federal Statistical Office, surprisingly few. Over the ten years from 2009 to 2018, an annual average of 1181 people died from the flu in Switzerland, according to death certificate data collated by the Federal Statistical Office, a rate of around 14 per million. From 2009 to 2018, the...

When economic crises hit, most pundits and intellectuals never see it coming. That is because they have never learned the lesson that Bastiat sought to teach, namely that we need to look beneath the surface, to the unseen dimensions of human action, in order to see the full economic reality. It is not enough just to stand back and look at points on a chart going up and down, smiling when things go up and frowning when things go down. That is the nihilism of an...

Jeff Snider is the Global Head of Research at Alhambra Investments, and well known for his disinflationary views and his Eurodollar University video. Here he talks about why yields' move higher isn't inflationary, why things are still not inflationary at all, and much more. You can find the audio podcast here: iTunes/Apple Podcasts- https://podcasts.apple.com/ca/podcast/market-champions/id1450300020 Spotify- https://open.spotify.com/show/7KVwQ0RsTc6XN49Wg3yp5a Stitcher-...

Will Stagnation Follow the Biden Boom? So asks New York Times columnist (and Nobel memorial prize winner) Paul Krugman. Jeff Snider listens and reacts to Krugman's lament that though the relief bill is done, recovery may be harder. ---------SEE IT----------- AlhambraTube: https://bit.ly/2Xp3roy Twitter: https://twitter.com/JeffSnider_AIP Twitter: https://twitter.com/EmilKalinowski Art: https://davidparkins.com/ ---------HEAR IT---------- Vurbl: https://bit.ly/3rq4dPn Apple:...

© Phattha Intharakamhaeng | Dreamstime.com Swiss chocolate sales went into steep decline in 2020, according to ChocoSuisse, Switzerland’s chocolate industry association. The amount of chocolate produced in Switzerland in 2020 was 10% lower than in 2019 and sales revenue was down by 14.5%, a sharp drop. In 2020, Swiss chocolatiers produced around 180,000 tons, 20,000 tons less than the year before and sales fell by CHF 260 million to CHF 1.53 billion. The export...

Since the deep freeze in February caused millions of Texas homes to lose their power, partisans have been fighting over the blame. The governor blamed wind turbines and the green agenda, whereas Paul Krugman said the fault was with natural gas. Bob shows the numbers; natural gas was to blame only in the sense that nobody expected wind to be useful during a winter crisis. Mentioned in the Episode and Other Links of Interest: Bob’s article at Mises.org, which gives...

AMERICA’S MAIN financial regulator is taking an interest in climate change—and wants everyone to know. The Securities and Exchange Commission (SEC) has created a task-force to examine environmental, social and governance (ESG) issues, appointed a climate tsar and said it will “enhance its focus” on climate-related disclosures for listed firms. It looks poised to introduce, among other things, rules forcing firms to reveal how climate change or efforts to fight it may...

Swiss voters have narrowly approved a proposal to ban face coverings in public spaces. The measure comes just over a decade after citizens voted to ban the construction of minarets, the tower-like structures on mosques that are often used to call Muslims to prayer. The referenda reflect the determination of a majority of Swiss voters to preserve Swiss traditions and values in the face of runaway multiculturalism and the encroachment of political Islam. Switzerland...

The coronavirus has dominated all of our lives in recent months. Radical paths were taken by politicians in the form of lockdowns to contain the pandemic. But we should recognize that even if the coronavirus is a (major) challenge for us, we always have to keep a holistic view of world events. Just as there are epidemiological factors to consider in this crisis, there are also economic, social, cultural, political and other health factors at play. It is precisely...