Tag Archives: Featured

Wie der erste Teil darzulegen versuchte, muss einer Ausweitung der Geldmenge durch Geschäftsbanken zwangsläufig eine Vermehrung der Basisgeldmenge vorausgegangen sein. Ohne eine Entscheidung der Zentralbank, den Geschäftsbanken –vorgängig oder nachträglich – Basisgeld zur Verfügung zu stellen, ist eine jede Geschäftsbank aufgrund der gegenseitigen Konkurrenz untereinander in deren Möglichkeit, Geld zu schöpfen,...

Swiss Franc The Euro has fallen by 0.15% to 1.1475 CHF. EUR/CHF and USD/CHF, August 04(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates There are some chunky option strikes that could come into play today. There are 920 mln euros struck at $1.1850 that expire today. There are A$523 mln struck at $0.7950 expiring today. There are $680 mln struck at CAD1.2550 that will be...

Introduction Being a small open economy Switzerland is highly exposed to the girations of the world economy, both through international trade and financial flows. The country’s trade surplus for instance accounted for nearly half the GDP growth between 2000 and 2007.2 While the growth contribution from trade has slowed during the global crisis, the linkages with the world economy remain important for Switzerland. This...

I suspect President Trump has been told that markets don’t like radical changes. If there is one thing that any elected official is afraid of, it’s the internet flooded with reports of grave financial instability. We need only go back a year to find otherwise confident authorities suddenly reassessing their whole outlook. On the campaign trail, candidate Trump was very harsh on Janet Yellen. Now six months into his...

– Shrinkflation has hit 2,500 products in five years– Not just chocolate bars that are shrinking– Toilet rolls, coffee, fruit juice and many other goods– Effects of shrinkflation been seen for “good number of years” – Consumer Association of Ireland– Shrinkflation is stealth inflation, form of financial fraud– Punishes vulnerable working and middle classes– Gold is hedge against inflation and shrinkflation Editor: Mark...

Swiss Franc The Euro has fallen by 0.10% to 1.1496 CHF. EUR/CHF and USD/CHF, August 03(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The high-flying dollar-bloc currencies may be a preliminary sign market change. The US dollar is gaining on the Canadian dollar for the fourth consecutive session.  It is probing resistance we identified in the $1.2620 area.  The US...

I had the privilege to be at Bloomberg today and discussed with Vonnie Quin and Mark Barton. A clip to the Cool Video can be found here. There were three talking points. First was the observation that while the President took credit for the record stock market, the strength of the economy, the low unemployment rate, and business confidence, there was no mention of the dollar, which poised to close lower for its seventh...

Former Fed Chairman warns of bond bubble, stagflation “Moving into a … stagflation not seen since the 1970s” This will not be “good for asset prices” 10 Yr Gov bond yields fell from 15.8% in 1981 to 2.3% Interest rates will not stay low, will rise ‘reasonably fast’ “Normal” interest rates in 4%-5% range Inflation will not stay at historically low levels Gold “protects savings” and is “store of value” Gold is the...

When President Trump promised last fall that under a Trump administration America would “would win so much you’ll get tired of winning,” we suspect this is not what he had in mind.  According to the latest international obesity study from the Organization For Economic Co-operation and Development (OECD), America is by far the fattest nation in the world with just over 38% of the adult population considered ‘obese.’ Here...

Views From the Top of the Skyscraper Index On a warm Friday Los Angeles morning in spring of 2016, we found ourselves standing at the busy corner of Wilshire Boulevard and South Figueroa Street.  We were walking back to our office following a client wire brushing for events beyond our control.  But we had other thoughts on our mind. Standing amid a mob of pedestrians, we gazed up at the skeleton frame of what would...