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In 1923 Lenin released a propaganda pamphlet titled Down with the Private Kitchen. It explained how private dinners with one’s family are reactionary, bourgeois, and generally something requiring total destruction. Original Article: “Why Commies Hate Your Thanksgiving Dinner“. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. You Might Also Like What Germany...

Swiss Franc The Euro has fallen by 0.09% to 1.0824 EUR/CHF and USD/CHF, December 3(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview:  Selling pressure on the dollar and US Treasuries intensified in North America yesterday.  The dollar fell to new lows against the dollar-bloc, euro, and Swiss franc yesterday. The US 10-year yield rose to new three-week highs.  The S&P 500 set a new closing record high.  While...

A Swiss national flag flutters in the wind atop the Swiss National Bank SNB headquarters in Bern, Switzerland April 16, 2015. REUTERS/Ruben Sprich/File Photo - Click to enlarge Project Helvetia shows the feasibility of two proofs of concept (PoCs), using “near-live” systems to settle digital assets on a distributed ledger with central bank money. A PoC linking the existing payment system to a distributed ledger and another issuing a wholesale central bank digital...

Stimulus talks continue but the goalposts have indeed been moved; the good news is that a package before year-end is looking more likely; optimism regarding stimulus continues to buoy US yields ISM services PMI is expected at 55.8 vs. 56.6 in October; weekly jobless claims data will be reported; Fed Beige Book report was suitably downbeat The noise level around Brexit continues to rise are we approach the finish line; eurozone and UK data came in firmer than...

We have the luxury, the honor, of speaking to a lot of individual investors here at Alhambra. Whether they are clients or future clients (optimism is my default condition), the most common view of stocks is that they are overvalued and a fall – a large fall – is inevitable. And there is no stock that embodies that view more than Elon Musk’s Tesla Incorporated. It was once known as Tesla Motors but Musk changed the name in early 2017. There may never have been a more...

Dr. Gary Schlarbaum, one of our generous supporters, has again offered to match all donations received through December 7. That means your $10 donation becomes $20, your $25 donation becomes $50, and so on. With a donation of $25 or more, you’ll receive a copy of Jeff Deist’s The Imposers and the Imposed Upon. And, thanks to Gary, your donation doubles. Please donate today. Your gift allows the Mises Institute to be bigger and better in 2021. We want to offer more...

Swiss Franc The Euro has fallen by 0.39% to 1.0817 EUR/CHF and USD/CHF, December 2(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview:  The selling pressure that drove the dollar lower yesterday has abated, and the greenback is paring yesterday’s loss, though the dollar-bloc currencies are showing some resilience.  EC negotiator Barnier briefed ministers that the same three issues that have bedeviled the trade talks...

The Swiss National Bank (SNB) and the Federal Finance Administration (FFA) advise as follows: The Federal Finance Administration plans to issue bonds with a face value of CHF 6.5 billion in 2021. Taking account of bonds maturing, the volume of bonds outstanding will increase by CHF 2.4 billion. The volume of outstanding money market debt register claims will rise by approximately CHF 4 billion and will be kept within a range of CHF 12 billion to CHF 18 billion....

02.12.2020 – The consumer price index (CPI) fell by 0.2% in November 2020 compared with the previous month, reaching 101.0 points (December 2015 = 100). Inflation was –0.7% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO). The 0.2% decrease compared with the previous month can be explained by several factors including falling prices for international package holidays. Hotel accommodation also recorded a...

The entrepreneurs try to undertake only such projects as appear to promise profits. This means that they endeavor to use the scarce means of production in such a way that the most urgent needs will be satisfied first, and that no part of capital and labor will be devoted to the satisfaction of less urgent needs as long as a more urgent need, for whose satisfaction they could be used, goes unsatisfied. When the government intervenes to make possible a project which...