Tag Archives: newsletter

Swiss Franc EURCHF - Euro Swiss Franc, April 26(see more posts on EUR/CHF, ) - Click to enlarge GBP/CHF Last week Theresa May called a snap General election due to take place on 8th June. Historically a snap election has caused the currency in question to weaken, however on this occasion Sterling strengthened. It was a shrewd move by May to call an election while the competition is so weak. A conservative...

  Slightly Premature Victory Laps The nightmare of nightmares of the globalist elites and France’s political establishment has been avoided: as the polls had indicated, Emmanuel Macron and Marine Le Pen are moving on to the run-off election; Jean-Luc Mélenchon’s late surge in popularity did not suffice to make him a contender – it did however push the established Socialist Party deeper into the dustbin of history. That...

We’ve been persuaded that the state-cartel Plantation Economy is “capitalist,” but it isn’t. It’s a rentier skimming machine. I have often discussed the manner in which the U.S. economy is a Plantation Economy, meaning it has a built-in financial hierarchy with corporations at the top dominating a vast populace of debt-serfs/ wage slaves with little functional freedom to escape the system’s neofeudal bonds. Since I...

The Swiss consumption indicator by UBS shows improvements. The indicator is still distant from the highs in 2012. At the time stronger growth in Emerging Markets and the weaker franc helped the Swiss economy. The UBS consumption indicator registered at 1.50 points in March, indicating private consumption growth around the long-term average. Solid automotive demand drove this figure. Domestic tourism, on the other...

See the introduction and the video for the terms gold basis, co-basis, backwardation and contango. The Mathematics of Frexitology This was also a holiday-shorted week. As we write this, the big news comes from the election in France. The leading candidate is a banker named Emmanuel Macron, with about 24% of the vote in a 4-candidate race. The anti-euro Marine Le Pen came in second with just over 21%. From the sharp...

Summary: Provided Le Pen and Macron or Fillion make to the second round, the market response to the French election results may be short lived. BOJ, Riksbank and ECB meetings. Spending authorization and some announcement from the White House on tax policy are in focus as Trump’s 100th day in office approaches. The results of the French presidential election will be known prior to the open of the Asian...

Travail Suisse, an association representing Swiss employees, highlights once more the age discrimination faced by those over 50 in the Swiss job market. In March 2017, 26.8% of unemployed in the this age group had been without work for more than a year, compared to 2.3% of those between 15 and 24 and 14.1% of those aged 25 to 49. According to RTS, the unemployed over 50 take twice as long to find a new job. The number...

Summary: The dollar market is intact, despite the pullback here at the start of 2017. We have seen similar pullbacks in 2016 and 2015. Divergence remains the key driver. The Federal Reserve’s real broad trade-weighted dollar fell for the first three months of 2017, and the greenback’s heavy tone this month has raised questions about the state of the bull market.    Despite this recent weakness, we think the...

– Silver, platinum and palladium see increased role as investment vehicles– Increase in academic output on the white precious metals is in line with this– Silver and particularly gold are safe haven assets– Silver was a safe haven at times during which gold failed to be– Platinum and palladium less so but have diversification benefits– Silver manipulation is possible and indications of, if not legal proof– Benefits...

  A Disastrous Decision It is altogether fitting that the US attack on a Syrian airport, the dropping of a MOAB on defenseless Afghanistan, and the potential outbreak of nuclear war with North Korea have all come in the very month in which an American president led the nation on its road to empire one hundred years earlier. President Trump’s aggressive actions and all of America’s previous imperialistic endeavors can...