Tag Archives: Featured

The Federal Department of Finance (FDF) and the Swiss National Bank (SNB) have signed a new agreement regarding the SNB’s profit distribution for 2016 to 2020. Subject to a positive distribution reserve, the SNB will in future pay CHF 1 billion p.a. to the Confederation and cantons, as was previously the case. In future, however, omitted distributions will be compensated for in subsequent years if the distribution...

India’s Government Makes Banknotes Worthless by Decree Overnight As I write this in the morning of 9th November 2016, there are huge lines forming outside gold shops in India — and gold traded heavily until late into the night yesterday. Depending on who you ask, the retail price of gold has gone up between 15% and 20% within the last 10 hours. At some places, it was sold for as much as US$ 2,294 per ounce. That is,...

Introduction by George Dorgan My articles About meMy booksFollow on:TwitterFacebookGoogle +YoutubeSeeking AlphaCFA SocietyLinkedINEconomicBlogs Summary: The evolving political situation in China is worth monitoring. China’s trade surplus with the US has fallen this year. It has been roughly 20 years since China was formally labeled a currency manipulator. Trump has indicated he would do so. There have...

Fake Progressives are perfectly fine with soaring inequality and corrupt governance, as long as everyone’s public utterances are politically correct. Sometimes who lost is more important than who won. Let’s review who lost the election: 1. Let’s start with the Corporatocracy, which expected to once again wield unlimited influence by funding political campaigns with millions of dollars in contributions and speaking...

Gold futures had their heaviest day of trading during April 2013 when a mysterious flash crash sent the precious metal collapsing with no clear fundamental/news catalyst. In June, Brexit sparked massive volume buying in the barbarous relic, but overnight, as a Trump victory became more and more of a reality, gold futures are approaching their busiest day ever. As Bloomberg notes, that’s triple the full-day average this...

Comment on GBP and CHF by Joshua Privett My articles My booksFollow on:LinkedIN Swiss Franc In the Swiss Television, Swiss National Bank’s Andrea Maechler promised interventions for the case that Trump wins the elections. It was probably not necessary. The EUR/CHF fell to 1.0753, but interventions were rather limited to our view. For the second after Brexit, many market participants are...

The Swiss government urged rejection of a popular initiative that would transform the monetary system and end fractional-reserve banking, according to its dispatch to Parliament. The measure seeks to put the central bank solely in charge of money supply and forbid commercial banks from granting loans that aren’t fully backed by deposits, effectively ending the way banking has been conducted for centuries. It’s a...

While the bearish sentiment that engulfed European equities in recent weeks is being vindicated, health-care stocks are easing the pain. [embedded content] The region’s largest industry group headed for its biggest jump in more than 14 months, tempering losses for equity benchmarks after Donald Trump won the race to govern the region’s biggest export market. Novo Nordisk A/S and Shire Plc rose more than 5 percent,...

Mark Chandler - Click to enlarge Even before the my polling station opened today, I had the privilege of being on Bloomberg Surveillance today with Gina Cervetti and Tom Keene. We talk about a wide range of issues directly and tangentially related to the US election. We discuss the outcome the market appears to be discounting. We talk about peso’s strength, which began in the second half of last week, before the FBI...

Submitted by John Rubino via DollarCollapse.com, At first, the idea of central banks intervening in the equity markets was probably seen even by its fans as a temporary measure. But that’s not how government power grabs work. Control once acquired is hard for politicians and their bureaucrats to give up. Which means recent events are completely predictable: SNB’s U.S. Stock Holdings Hit $62.4 Billion...