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The dollar was high and going higher. Emerging markets had been seriously complaining. In one, the top central banker for India outright warned, “dollar funding has evaporated.” The TIC data supported his view, with full-blown negative months, net selling from afar that’s historically akin to what was coming out of India and the rest of the world. China was cutting its RRR multiple times. This was all following May 29, 2018, too, a day in the global “bond market”...

. (Birmingham, AL, USA – January 10, 2022) – Alabama currently exempts precious metals from state sales tax, however this exemption is set to expire in 2022. A senator in the Yellowhammer State hopes to extend this popular exemption. Introduced by Senator Tim Melson (1-R), and supported by the Sound Money Defense League, Senate Bill 13 maintains current law by extending the existing sales tax exemption on the purchases of precious metals purchases If Senate Bill 13...

Major banks, like UBS, are coming under increasing pressure to clean up their investments. Keystone / Ennio Leanza As businesses were gearing up for the COP26 climate summit in Glasgow last year, one of Europe’s larger banks released an update on how it planned to do its bit to combat global warming. Switzerland’s UBS group said it had become a founding member of the new Net Zero Banking Alliance, a UN-convened club of mostly western banks committed to decarbonising...

PayPal arbeitet weiter an seinem Vorstoß in den Cryptomarkt. Vor allem in den USA ist man mit der Implementierung von Cryptocoins in das gesamte Online-Zahlungssystem weit fortgeschritten. Somit war es wohl nur eine Frage der Zeit, bis man seinen eigenen Cryptocoin in Betracht ziehen würde. Crypto News: PayPal arbeitet an eigenem Stablecoin PayPal wird es vielen Cryptobörsen gleichtun und einen eigenen Utility Token kreieren. Dieser wird ein Stablecoin sein, der...

Try to find a developing-world kleptocracy in which the top few collect more than 97% of the income from capital. There aren’t any that top the USA, the world’s most extreme kleptocracy. We’re Number 1. Imagine a town of 1,000 adults and their dependents in which one person holds the vast majority of wealth and political influence. Would that qualify as a democracy? Now imagine that 100 of the 1,000 adults own 90% of all the wealth, collect 97% of all the income from...

Turnover adjusted for sales days and holidays rose in the retail sector by 5.4% in nominal terms in November 2021 compared with the previous year. Seasonally adjusted, nominal turnover rose by 1.4% compared with the previous month. These are provisional findings from the Federal Statistical Office (FSO). Real turnover adjusted for sales days and holidays rose in the retail sector by 5.8% in November 2021 compared with the previous year. Real growth takes inflation...

The Swiss central bank has again profited from its interventions in the foreign exchange markets. © Keystone / Ti-press / Alessandro Crinari The Swiss National Bank (SNB) expects to post a profit of CHF26 billion ($28 billion) for 2021, a windfall made exclusively from its growing foreign currency holdings. The central bank will likely distribute CHF6 billion to the confederation and cantons under the terms of a profit-sharing agreementExternal link that was made...

Update January 10, 2021:  Sight Deposits have risen by +1.9 bn CHF, this means that the SNB is intervening and buying Euros and Dollars. We had finally arrived in the inflation scenario I was speaking about before. Inflation is the period, when both the Swiss franc and gold must go up. BUT : U.S. CPI is at 5%, at the highest value since the year 1990 (excluding one outlayer in Summer 2008). But European inflation has gone down to 1.9%., In...

The New Year has started with a sharp fall in the price of bitcoin – and some intriguing stories surrounding the Swiss cryptocurrency scene. The industry is well used to volatility in the price of cryptocurrencies and is ploughing on with expansion plans regardless of how many dollars you can currently get for your bitcoin. New heads at Switzerland’s oldest crypto firm As management shake-ups go, Bitcoin Suisse has raised the bar to a new level. The crypto company’s...

When Alan Greenspan went back to Stanford University in September 1997, his reputation was by then well-established. Even as he had shocked the world only nine months earlier with “irrational exuberance”, the theme of his earlier speech hadn’t actually been about stocks; it was all about money. The “maestro” would revisit that subject repeatedly especially in the late nineties, and it was again his topic in California early Autumn ’97. As Emil Kalinowski and I had...