Tag Archives: Featured

Zurich/Basel, 15 January 2021 – The UBS Board of Directors announced today that Beatrice Weder di Mauro is not standing for re-election to the Board of Directors of UBS Group AG and UBS AG. She has informed the Board of her decision to step down after serving since 2012. UBS Chairman Axel A. Weber: “We will miss Beatrice’s experience and expertise in international economic and financial matters. She has consistently provided important insight to the Board and to me...

Rothbard: “At the outset of every step forward on the road to a more plentiful existence is saving….Without saving and capital accumulation there could not be any striving toward nonmaterial ends.” Original Article: “The Upside of Lockdowns: More Saving​” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. Original Text: Something good is coming out of the covid lockdowns. Economist David Rosenberg released a special...

I. Warning against Fiduciary Media Early in the 20th century, Ludwig von Mises warned against the consequences of granting the government control over the money supply. Such a regime inevitably creates money through bank credit that is not backed by real savings—a type of money that Mises termed “fiduciary media.” In 1912, Mises wrote, It would be a mistake to assume that the modern organization of exchange is bound to continue to exist. It carries within itself the...

This week, Switzerland’s Federal Office of Public Health (FOPH) reported 17,245 positive Covid-19 cases and 387 deaths. Over the seven days to 15 January 2021, the number daily cases reported in Switzerland averaged 2,464. This figure is significantly below the daily reported average leading up to Christmas. In the 7 days to 18 December 2020, the average daily number was around 4,300. Over the last 24 hours the results of 25,092 tests were reported, with test...

During 2020, average annual inflation was –0.7%, according to Switzerland’s Federal Statistical Office (FSO). © Dmitri Maruta | Dreamstime.com - Click to enlarge In December 2020, Switzerland’s consumer price index (CPI) fell by 0.1% compared with November 2020. Compared to December 2019, prices in December 2020 were 0.8% lower. Annual inflation reached -0.7% across the full year. The main drivers of a falling CPI were lower travel prices and fuel costs. The price...

The months of November and December aren’t always easily comparable year to year when it comes to American shopping habits. For a retailer, these are the big ones. The Christmas shopping season and the amount of spending which takes place during it makes or breaks the typical year (though last year, there was that whole thing in March and April which has had a say in each’s final annual condition). The calendar being what it is – we’ve never been forced to use the...

Switzerland’s Federal Office of Public Health (FOPH) recently reported that 66,000 people in Switzerland had been vaccinated against the SARS-CoV-2 virus that causes Covid-19. © Oxana Medvedeva | Dreamstime.com - Click to enlarge The number was communicated by Nora Kronig of the FOPH during a press conference in Bern on Thursday 14 January 2020. The 66,000 is likely to be lower than the actual number because of delays in the flow of information from cantonal health...

It’s not just that there isn’t much inflation evident in consumer prices. Rather, it’s a pretty big deal given the deluge of so much “money printing” this year, begun three-quarters of a year before, that consumer prices are increasing at some of the slowest rates in the data. Trillions in bank reserves, sure, but actual money can only be missing. U.S. CPI Services Core Fed, Jan 1985 - -2020 - Click to enlarge U.S. CPI Services Core percentile, Jan 2009 - 2020...

Swiss Franc The Euro has fallen by 0.39% to 1.0753 EUR/CHF and USD/CHF, January 15(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The US dollar is firm against most of the major and emerging market currencies today. Among the majors, the Japanese yen and Swiss franc are resilient. For the week, sterling and the yen appear poised to eke out small gains, while the Scandi’s are the weakest performers with around...

Tension between Switzerland’s scientists and politicians is rising, according to RTS. Bern_© Petr Pohudka _ Dreamstime.com - Click to enlarge On Saturday, Christian Althaus, an epidemiologist working for the Swiss National COVID-19 Science Task Force, Switzerland’s scientific Covid advisory team, announced his resignation and voiced his frustration on Twitter. “One of the reasons why I left the scientific task force this week. Politicians must finally learn to face...