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According to recently released data by the World Gold Council (WGC), as of September 2021, the total amount of gold held in reserves by central banks globally exceeded 36,000 tons for the first time since 1990. This 31-year record was the result of the world’s central banks adding more that 4,500 tons of the precious metal to their holdings over the last decade and it provides ample support for the investment case for gold, in both directly performance-related...

Swiss fintech company Numbrs has blamed jealous banks for killing off its original business model as a third-party provider of financial products. So it has reinvented itself under the banner of the ultimate bank killer – bitcoin. The company, fêted as a rare Swiss fintech unicorn (worth at least CHF1 billion), has just announced it has transformed into a bitcoin storage vault. This is quite a startling strategic shift. More than two million people (mainly in...

Recently, a relatively new economics called behavioral economics (BE) has started to gain popularity. Its practitioners, such as Daniel Kahneman, Vernon Smith, and Richard Thaler, were awarded Nobel Prizes for their contribution in the field of BE. The BE framework emerged because of dissatisfaction with the neoclassical theory regarding consumer choices. In the neoclassical theory, individuals are presented as if a scale of preferences is hard-wired in their heads....

Last year was a good year for state-level sound money legislation across the United States. 2022 could be even better. Building on the success enjoyed by sound money advocates in Arkansas and Ohio last year, more than a half dozen states are now considering legislation that rolls back discriminatory taxes and regulations on the sale, use, and purchase of gold and silver. More States Are Removing Sales Taxes on Gold & Silver To date, 42 states have removed some or...

Das Königreich Tonga könnte Bitcoin als gesetzliches Zahlungsmittel einführen, so ein ehemaliges Mitglied des tongaischen Parlaments, Lord Fusitu’a, der in einem Tweet einen möglichen Zeitplan für dieses Ereignis nannte. Lord Fusitu’a, der Vorsitzende der Commonwealth Pacific Parliamentary Group on Human Rights in Tonga, ist ein Befürworter von Bitcoin und erklärte am 11. Januar auf Twitter, dass die Regierung des Königreichs Tonga Bitcoin als gesetzliches...

It should be as simple as it sounds. Lower LT UST yields, less growth and inflation. Thus, higher LT UST yields, more growth and inflation. Right? If nominal levels are all there is to it, then simplicity rules the interpretation. Visiting with George Gammon last week, he confessed to committing this sin of omission. Rates have gone up, he reasoned reasonably, therefore it would seem to follow how the market must be shifting expectations toward the more optimistic...

Recently, there has been a debate in Germany on the constitutionality of additional government borrowing of €60 billion. The borrowing is debated because Germany has a constitutional debt brake. The debt brake limits the possibility of the government to indebt itself and pushes it toward a balanced budget in normal times. In times of emergency, however, the debt brake allows for exceptions and higher deficits to fight the emergency. Unsurprisingly, huge amounts of...

Die Akzeptanz von Kryptowährungen im Geschäftsleben nimmt zu. Dies zeigt eine Umfrage des Zahlungsdienstleisters Visa. Der Zahlungsriese Visa hat eine Umfrage unter kleinen Unternehmen durchgeführt und festgestellt, dass fast ein Viertel der Befragten plant, in diesem Jahr Zahlungen in Kryptowährungen zu akzeptieren. “Ich denke, dass mehr Menschen mehr Vertrauen in Kryptowährungen haben”, sagte ein Visa-Manager. Visa hat am Mittwoch eine Studie über digitale...

No one can deny that we Americans live crisis-filled lives. Right now, there is a major crisis in Ukraine with Russia. There is also an ongoing crisis with China. Other foreign-policy crises, such as with Iran, Yemen, Afghanistan, Cuba, Iraq, and North Korea. There is a terrorism crisis. Healthcare crisis. Social Security crisis. Drug-war crisis. Immigration crisis. Debt crisis. Inflation crisis. Fiscal crisis. Monetary crisis.  There is a common denominator to all...

All-time record for Swiss Post: it processed more than 200 million parcels last year. Keystone/Laurent Gillieron The state-owned Swiss Post processed a record number of parcels last year, but the downward letter mail continued. Parcel deliveries increased by 9.6% to 202 million in 2021, according to the state-owned company. “This rise is due to the boom in online retail, which has been driven in part by Covid restrictions and working from home,” it said on Tuesday....