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[This article is part of the Understanding Money Mechanics series, by Robert P. Murphy. The series will be published as a book in late 2020.] Starting with Carl Menger’s undisputed role in the “marginal revolution,” which ushered in subjective value theory, the Austrian school has made important contributions that have been absorbed into standard economic theory. However, the Austrian theory of the business cycle is still something unique to the school, differing not...

Interview with Robert Hartmann, Co-Owner ProAurum Over the last couple of months, we’ve witnessed unprecedented changes in the global economy, in the markets and in our societies. The corona crisis and the governmental measures that were introduced had a dramatic and direct effect on all of us, as investors and as citizens. That is especially true of precious metals investors. A new gold rush is now underway, with impressive price gains and...

Swiss Franc The Euro has fallen by 0.08% to 1.0504 EUR/CHF and USD/CHF, May 14(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Risk appetites have been gradually waning this week. US equity losses mounted yesterday after Tuesday’s late sell-off. Asia Pacific equities were off, with many seeing at least 1.5% drops. Europe’s Dow Jones Stoxx 600 is off a little more to double this week’s decline and leaves it in a...

The Producer Price Index (PPI) or officially named “Producer and Import Price Index” describes the changes in prices for producers and importers. For us it is interesting because it is used in the formula for the Real Effective Exchange Rate. When producers and importers profit on lower price changes when compared to other countries, then the Swiss Franc reduces its overvaluation. The Swiss PPI values of -6% in 2015 (see below), compared to -3% in Europe or -1% in...

Fritz Gerber worked for the Basel-based pharma giant for more than two decades, shaping Roche’s development into a global healthcare firm. (Keystone / Markus Stuecklin) Pharmaceutical giant Roche and Zurich Insurance have paid their respects to business executive Fritz Gerber, who passed away on Sunday at the age of 91. “Fritz Gerber was one of the most influential business leaders in Switzerland during a period of formative development for the country’s modern, open...

© JaCrispy | Dreamstime.com As Switzerland reopens, the details around how SARS-CoV-2 spreads becomes more relevant to everyday life. Matthias Egger, the head of Switzerland’s Covid-19 task force, stresses the importance of continuing to follow social distancing and hygiene rules. However, the Swiss government’s recommended rule of staying two metres away from the next person might not be enough if the next person is singing. Infection requires a minimum amount of...

The monetary mouse. After years of Mario Draghi claiming everything under the sun available with the help of QE and the like, Christine Lagarde came in to the job talking a much different approach. Suddenly, chastened, Europe’s central bank needed assistance. So much for “do whatever it takes.” They did it – and it didn’t take. Lagarde’s outreach was simply an act of admitting reality. Having forecast an undercurrent of worldwide inflationary breakout (how...

The virus news stream is mixed; the dollar continues to consolidate; US-China tensions continue to rise US Treasury wraps up its quarterly refunding; April budget statement is a harbinger of things to come; the next round of stimulus will be contentious We got some dovish BOE comments yesterday; UK continues to play Brexit hardball; UK data was slightly better than expected but awful nonetheless Japan reported March current account data; RBNZ expanded its QE program...

In the wake of the COVID-19 pandemic and its attendant economic strains, some protectionists and anti-immigration ideologues are trying to take advantage of this opportunity to advance their nationalist agenda. They argue that if the United States had restricted international trade and immigration more thoroughly in the past, as President Trump had fought to achieve, the public health crisis could have been curtailed. Some are also arguing that imposing further...

6’000 CHF an Dividenden möchte ich im Jahr 2020 netto verdienen. Ob das machbar ist, möchte ich in diesem Beitrag genauer erläutern und analysieren. Im Jahr 2019 hatte ich 3’001.89 CHF an Dividenden netto erhalten, das möchte ich dieses Jahr verdoppeln. Verdopplung der Dividenden möglich? Ist es möglich, die Dividenden im vergleich zum Vorjahr zu verdoppeln? Ich glaube schon, aber nicht allein durch das Dividendenwachstum. Nein, vielmehr durch weitere...