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SEBA is part of a new wave of financial institutions that plan to offer a different style of banking service. (SEBA) Crypto bank SEBA is confident of attracting a “three-digit” number of Swiss clients by the end of the year before setting its sights on global expansion and raising more than CHF100 million ($101 million) in extra funding from the public. The Swiss financial regulator awarded SEBA a banking license in August, along with another bank specialising in...

USD/CHF erased its intraday gains, settling near the 0.9930 level.  Support is seen at the 0.9920 level. USD/CHF daily chart On the daily chart, USD/CHF is trading in a range below its 200-day simple moving average (DMA). The spot is holding just above the 50 SMA today at the 0.9921 level. USD/CHF daily chart(see more posts on USD/CHF, ) - Click to enlarge USD/CHF four-hour chart USD/CHF is retracing down from the current November highs while challenging the...

Born in Ravensburg, Germany, Klaus Schwab is the Founder and executive chairman of the World Economic Forum (WEF) (Keystone / Laurent Gillieron) World Economic Forum founder Klaus Schwab will not be receiving honorary Swiss citizenship, despite the idea having being mooted earlier this year. Such an honorary conferral of the passport has no basis in Swiss law, the Federal Justice Office announced on Tuesday, after it was contacted by the daily Südostschweiz...

As long as central banks create and distribute trillions in conscience-free credit to conscience-free financiers and corporations, the incentives for sociopathy only increase. “Sociopath” is a word we now encounter regularly in the mainstream media, but what does it mean? Here is a list of 16 traits, many of which are visible in lionized corporate and political leaders and entrepreneurs. One key trait is a lack of moral responsibility or conscience; the sociopath...

Swiss Franc The Euro has risen by 0.01% to 1.0958 EUR/CHF and USD/CHF, November 12(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Global capital markets are calm as investors look for a new catalyst. The MSCI Asia Pacific Index snapped back after posting its first back-to-back decline in a month. All the equity markets were higher, but Australia. The Nikkei, Kospi, and Taiex led the advance with about a 0.8%...

The USD/CHF pair’s recent recovery confronts 100-HMA, adjacent resistance line. 38.2% Fibonacci retracement, 0.9900 act as nearby supports. Following its bounce off 38.2% Fibonacci retracement of the current month upside, USD/CHF confronts near-term key resistance confluence while taking the bids to 0.9942 during early Tuesday. However, a sustained break of 0.9945 becomes necessary for the quote to extend recent recovery towards the support-turned-resistance line of...

The world’s billionaires had a tough time of it last year. The world lost 57 billionaires last year as economic woes and the unexpected strengthening of the US dollar wiped $388 billion (CHF386 billion) from their combined wealth. Switzerland had three fewer billionaires; the 33 who remain saw their bank accounts shrink by $16 billion. The latest edition of the Billionaires Reportexternal link from Swiss wealth manager UBS and consultants PwC made for grim reading...

There’s a couple of different ways that Unit Labor Costs can rise. Or even surge. The first is the good way, the one we all want to see because it is consistent with the idea of an economy that is actually booming. If workers have become truly scarce as macro forces sustain actual growth such that all labor market slack is absorbed, then businesses have to compete for them bidding up the price of marginal labor. This is, of course, the exact scenario we’ve been...

For the last five years Larry Summers has called it secular stagnation. It’s the right general idea as far as the result, if totally wrong as to its cause. Alvin Hansen, who first coined the term and thought up the thesis in the thirties, was thoroughly disproved by the fifties. Some, perhaps many Economists today believe it was WWII which actually did the disproving. For many of them, it is the typical broken windows stuff. The war devastated Europe and much of the...

Let’s revisit a point that came up in passing, in the Silver Doctors’ interview of Keith. At around 35:45, he begins a question about weights and measures, and references the Coinage Act of 1792. This raises an interesting set of issues, and we have encountered much confusion (including from one PhD economist whose dissertation committee was headed by Milton Friedman himself). Gold, Paper, and Redeemability Back in the 18th century, three facts were obvious and not...