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SNB & CHF

Secession: Why Redrawing US State Borders Makes Politicians So Mad

Over the past five years, 33 counties in Illinois have voted to secede from the state, presumably to either form a new state or join another state. In most of these counties, the voters were given the option to vote yes or no on  a ballot question that looked generally like this: “Shall the board of (the county) correspond with the boards of other counties of Illinois, outside of Cook County, about the possibility of separating from Cook County to form a new state...

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Libertarianism and Value Judgments

Most people on the Left and the Right misunderstand the essence of libertarianism. This should come as no surprise since even some libertarians misunderstand the essence of libertarianism.Libertarianism should not be expanded beyond what it is, by libertarians or anyone else. It should not be fused with any personal preference or extraneous ideology.[Click to Tweet]The nonaggression principleThe guiding principle undergirding the libertarian philosophy is what is...

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Why We Need To Get Out of NATO

President Trump and Defense Secretary Hegseth have recently been critical of NATO, calling for the European NATO countries to pay for their own defense. This is all to the good, though it does not go far enough. As the great Dr. Ron Paul has pointed out, “We also need a change in policy. Americans are beginning to understand the economic costs of maintaining a global military empire. US taxpayers are forced to cover more than half of the entire NATO budget while...

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Swiss Stem Cell Bank Scandal: When Freezing Cord Blood Goes Wrong | Lost Cells Podcast ??

Search for Lost Cells wherever you get your podcasts. ? --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch or subscribe to our YouTube channel: Website: http://www.swissinfo.ch Channel: http://www.youtube.com/swissinfovideos Subscribe:...

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US 10-year Yield Falls to New Low for the Year, while Dollar has Muted Reaction to Trump’s Affirmation of Tariffs on Canada and Mexico

Overview: The US 10-year yield has fallen to a new two-month low near 4.33% today, ahead of the $70 bln sale of five-year notes, following strong demand at the two-year floating note sale yesterday. The 200-day moving average is near 4.25%. The 10-year yield peaked in mid-January near 4.80%. The dollar initially rallied on President Trump's acknowledgement that tariffs on Mexico and Canada were still on track, though another official was quoted on the wires...

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How MMT Advocates View Money and the State

According to the Modern Monetary Theory (MMT), money is something decided by the state. The MMT regards money as a token. For instance, when an individual places a coat in the cloakroom of a theater, he receives a tin disc or a paper receipt. This receipt or a disc is a proof that the individual is entitled to demand the return of his coat.According to the MMT, the material used to manufacture the tokens is irrelevant—it can be gold, silver, or any other metal or it...

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Cash At Buffett’s Berkshire Continues To Grow

In its annual letter to shareholders this past weekend, Warren Buffett's Berkshire Hathaway announced that it had increased its cash holdings to $334 billion. As the Financial Times chart on the right shows, Berkshire's cash balances have more than doubled over the last few quarters to its highest level. Additionally, cash as a percentage of assets, graphed on the left, shows it now holds more cash as a percentage of its portfolio than before the 2008 financial...

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Estimates By Analysts Have Gone Parabolic

Just recently, S&P Global released its 2026 earnings estimates, which, for lack of a better word, have gone parabolic. Such should not be surprising given the ongoing exuberance on Wall Street. As noted last week, correlations between all asset classes, whether international or emerging markets, gold or bitcoin, have all gone to one. Unsurprisingly, rationalizations justify illogic when too much money is chasing too few assets. Therefore, it should not be...

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