Overview: The US dollar continues to pare its recent losses and is firm against most major currencies in what has the feel of a risk-off day. The other funding currencies, yen and Swiss franc, are steady, while the euro is heavy but holding up better than the Scandis and dollar-bloc currencies. Emerging market currencies are also lower, and the JP Morgan EM FX index is off for the third consecutive session. The Chinese yuan’s insignificant gain of less than...
Read More »Unions demand financial reward for efforts during Covid crisis
Trade union representatives argue employees are entitled to higher wages as the Swiss economy has picked up from the Covid crisis. Keystone/Anthony Anex The Trade Union Federation has called for a blanket salary rise for all employees as the Swiss economy recovers from the Covid-19 crisis. Switzerland’s main trade union umbrella group said employees should be entitled to a salary increase of at least 2% or CHF100 ($109) per month. Trade union president Pierre-Yves...
Read More »Remember When Conservatives “Canceled” Anyone against the War on Terror? I Do.
[unable to retrieve full-text content]Life in American changed twenty years ago after the 9/11 attacks. Many Americans became enraged at anyone who did not swear allegiance to President George W. Bush’s antiterrorism crusade. Anyone who denied “they hate us for our freedoms” automatically became an enemy of freedom.
Read More »Weekly Market Pulse (VIDEO)
Alhambra CEO Joe Calhoun talks about last week’s surprising market reaction to the unemployment numbers and why it’s important to study the bond market. [embedded content] [embedded content] You Might Also Like SNB Sight Deposits: Inflation is there, CHF must Rise 2021-09-13 Sight Deposits have risen by +0.2 bn CHF, this means that the SNB is intervening and buying Euros and Dollars....
Read More »What’s Real Behind Commodities
Inflation is sustained monetary debasement – money printing, if you prefer – that wrecks consumer prices. It is the other of the evil monetary diseases, the one which is far more visible therefore visceral to the consumers pounded by spiraling costs of bare living. Yet, it is the lesser evil by comparison to deflation which insidiously destroys the labor market from the inside out. You see inflation around you; anyone can only tell deflation by hopefully noticing and...
Read More »Personalien – SNB-Präsident Jordan nach medizinischem Eingriff in Auszeit
[unable to retrieve full-text content]Der Eingriff habe sich nach einer Vorsorgeuntersuchung als notwendig erwiesen und sei erfolgreich verlaufen, teilte die Schweizerische Nationalbank (SNB) am Montag mit. Thomas Jordan befinde sich in guter Verfassung.
Read More »The Upside of a Stock Market Crash
[unable to retrieve full-text content]A drought-stricken forest choked with dry brush and deadfall is an apt analogy. While a stock market crash that stairsteps lower for months or years is generally about as welcome as a trip to the guillotine in Revolutionary France, there is some major upside to a crash.
Read More »Where do gold and silver prices go from here?
[unable to retrieve full-text content]One way to look at the price of gold, is that it dropped from its high around $1,900 in early June. Another way is to zoom out, and look at the big picture. Here is a 10-year chart of gold and silver prices. For over four years, after the peak around $1,900 ten years ago (early September 2011), the price of gold moved down. By December 2015, it was just over $1,000. Then it was a sideways market until three years ago (August 2018), when the price was well...
Read More »Risk Appetites Return from Holiday
[unable to retrieve full-text content]Overview: After an ugly week, market participants have returned with strong risk appetites. Equities are rebounding, and the greenback is paring recent gains. Bond yields are firm, as are commodities. Asia Pacific equities got the ball rolling with more than 1% gains in several large markets, including Japan, China, Hong Kong, and Taiwan.
Read More »The Secret Ronald Reagan Told Me about Gold and Great Nations
Today [August 15] marks 50 years since President Richard Nixon closed the “gold window,” ending the ability of foreign governments to exchange United States dollars for gold. Nixon’s action severed the last link between the dollar and gold, giving the U.S. a fiat currency. America’s experiment with fiat has led to an explosion of consumer, business, and—especially—government debt. It has also caused increasing economic inequality, a boom-bubble-bust business cycle,...
Read More »