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On 25 June 2018, the city of Zug, the town at the heart of Switzerland’s crypto valley, started testing a voting system based on blockchain technology. ©-Denis-Linine-_-Dreamstime.com_ - Click to enlarge During the trial, which runs until 1 July 2018, around 200 voters will cast non-binding municipal votes on mock questions in a trial designed to identify any bugs in a system built by the company Luxsoft and the...

juin 27, 2018 par LHK Bitcoin : les causes de la chute historique sous la barre des 6 000$. 2 articles de Adrien Pittore/ Entreprise news Bitcoin Horrific CrashesLes soldes ne commencent que mercredi. Et pourtant, la valeur du Bitcoin, plus généralement des cryptomonnaies, a accusé un sacré coup de rabais jeudi 21 juin. Alors qu’il était plutôt bien stabilisé, le cours du Bitcoin s’attaquait à la barre symbolique...

London house prices down 1.9 per cent in Q2 (yoy) London house prices still 50% above 2007 bubble peak (see chart) Brexit and weak consumer confidence to blame say experts Little sign that U.K. property “weakness” is likely to change London property bubble appears to be bursting Editors Note: The London property bubble appears to be in the early stages of bursting. House prices are falling with reports of falls of as...

In May 2014, Switzerland voted against a minimum wage of CHF 22 an hour. At some point voters in the canton of Geneva will get to vote on a similar initiative, which would apply only in the canton. Similar to the federal vote, which was rejected by 76.3% of Swiss voters, the plan calls for a minimum hourly wage of CHF 23 ($US 23.40). Based on a 40-hour week, this works out at around CHF 4,000 per month. Vote organisers...

Employment expands in the Protected cartel-dominated sectors, and declines in every sector exposed to globalization, domestic competition and cheap capital. If you want to understand why the global economy is failing the many while enriching the few, start with the basics: capital, labor and resources. What happens when central banks drop interest rates to near-zero? Capital becomes dirt-cheap. It becomes ludicrously...

Gold Exports To London From U.S. Surge 152% In 2018 – U.S. gold exports to UK (primarily) London jumped over 150% from 25.5 metric tons to 64.3 mt in the first four months of 2018 (yoy)– Largest countries receiving U.S. gold exports are China/ Hong Kong, Switzerland and the UK – U.S. gold exports to London (UK) alone nearly as much as total U.S. gold production – Gold flowing from weak hands in West to strong hands in...

Swiss Franc The Euro has risen by 0.07% to 1.1542 CHF. EUR/CHF and USD/CHF, June 27(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US dollar is mostly firmer today, though has slipped back below the JPY110 level, as lower yields and equities support the Japanese yen. The main story in the foreign exchange market today is the continued slide in the Chinese renminbi....

Currently, across EU and EFTA countries, unemployment benefits are paid by the country of residence. Last week, the EU announced plans to make the country of employment pay unemployment benefits instead. ©-Meryll-_-Dreamstime.com-1 - Click to enlarge This change could be costly for Swiss cantons with large numbers of cross-border workers, workers who live in the EU but work in Switzerland. In March 2018, there were...

Switzerland: monetary policy At its quarterly monetary policy assessment last week, the Swiss National Bank (SNB) kept unchanged the target range for the three-month Libor at between -1.25% and -0.25% and the interest rate on sight deposits at a record low of -0.75%. The SNB reiterated its willingness to intervene in the foreign exchange market if needed. The central bank’s assessment of the Swiss franc also remained...

See the introduction and the video for the terms gold basis, co-basis, backwardation and contango. Last week, we discussed Social Security, a Ponzi scheme that is inevitably approaching its default. That leads us to another point in our broader discussion of capital destruction. Let’s illustrate with an example. The Fraudulent Promise Suppose Eric works for wages. He is 50 years old. His house is paid off, he has no...