Tag Archives: newsletter

That we fall for the fakes and cons is understandable, given that’s all we have left in the public sphere. What do we mean when we say corporate media is fake? We mean it’s a carefully crafted con, a set of narratives, cherry-picked data and heavily massaged statistics (the unemployment rate, etc.) designed to instill the reader’s confidence in a narrative that serves the interests not of the citizenry but of a select...

Sterling is under pressure today and gold near all time record highs in sterling (see chart) due to the likelihood that Britain’s ruling Conservative party will elect Boris Johnson (aka ‘BoJo’) as its new leader and Prime Minister today. The result of the weeks-long internal party election will be announced today and there are increasing concerns about the outlook for the UK economy and sterling due to the poor...

Swiss Franc The Euro has risen by 0.71% at 1.1045 EUR/CHF and USD/CHF, July 25(see more posts on EUR/CHF and USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The euro remains stuck in its trough below $1.1150 ahead of the ECB meeting. The US dollar is firmer against most of the major currencies. The yen continues to resist the draw of the greenback. Most emerging market currencies are...

Tracks being cooled with water The hottest day of the year in Switzerland caused a headache for the Swiss Federal Railways. Track damage occurred on Wednesday in the Zurich Oberland, canton Aargau near Brugg and in the Geneva area. Railways spokesman Raffael Hirt confirmed that lines had been interrupted in Zurich between Pfäffikon and Wetzikon and in Aargau between Wildegg and Brugg. In Geneva the stretch between...

The popular image of the German industrial machine politics is one which has Germany’s massive factories efficiently churning out goods for trade with the South of Europe (Club Med). Because of the common currency, numerous disparities starting with productivity differences had left the South highly indebted to the North just as the Global Financial Crisis would strike. The aftermath of that crisis, particularly the...

Je vous ai parlé de long en large de la BNS : ici : https://www.crottaz-finance.ch/blog/tag/bns/ De son bilan démesuré supérieur au PIB suisse De ne pas avoir vendu les euros achetés quand elle le pouvait D’avoir dû abandonner le taux plancher de 1.2 CHF pour 1 EUR sous la pression du marché (je l’avais prévu, mais la BNS a quand même tenu 3 ans et demi) Qu’avec les taux négatifs, les caisses de pensions (donc les...

Actually, Keynes’ “barbarous relic” remark was made not about gold itself but about the gold standard for currencies. Keynes wasn’t denying gold’s use as money. But that is the least of the problems with Wolf’s reply. Who cares about the prices of useless metals? “No significance in the modern world”? For starters, governments themselves care. That’s why central banks, against Wolf’s advice, continue to hold huge...

In the world of assets classes, I don’t believe it is equities which hold the Federal Reserve’s attention. After the 2006-11 debacle, the big bust, you can at least understand why policymakers might be more attuned to real estate no matter how the NYSE trades. It may be a decade ago, but that’s the one thing out of the Global Financial Crisis which was seared into the consciousness of everyone who lived through it....

Swiss Franc The Euro has fallen by 0.17% at 1.0966 EUR/CHF and USD/CHF, July 24(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Disappointing flash PMI pushed an already offered euro lower ahead of tomorrow’s ECB meeting. European bonds rallied and equities, amid a rash of earnings, is trying to extend the advance for a fourth consecutive session. Italian and...

Movement for the Pound to Swiss Franc pair limited Pound to Swiss franc exchange rates have remained relatively rangebound this week, despite yesterday’s political developments inside the UK. Whilst the GBP/CHF pair is historically less volatile than GBP/EUR for an example, a range of only two cents movement over the past month is testament to the current market uncertainty. GBP has hit a high of 1.2457, whilst trading...