Over four years our association of supporters of Austrian Economics from Switzerland, Germany and Austria and helpful hands all other all over the world expressed opposition against the CHF/EUR peg or “CHF cap” in in-numerous different pages.
The posts track the strong Swiss economic performance over these years and that this is absolutely not in line with the desire of the mainstream to make our currency weaker. As opposed to the mainstream, we think that a strong country like Switzerland also deserves a strong currency.
The background or encyclopaedia pages detail the relevant praxeology, our Austrian deductive reasoning, and apply it to developments in global macro and markets.
As opposed to the mainstream hedge funds (what Austrians call “Risk Funds”), we explicitly mention benefits and costs. This mean we mention both long-term benefits and with each measure of expansionary monetary policy the associated risks.
+++NEWS++ 2015-01-15+: The SNB has decided to accept the ideas of Austrian Economics and sound money. The SNB Is ready to consequently fight the enormous money and credit bubble, the massive real estate bubble and the sooner or later coming price inflation with sound money and a strong currency.
Swiss Inflation Watch:
Swiss Yearly Money Inflation (M3) 8.1% y/y
Swiss avg. Yearly Credit Inflation 3.9%
Swiss Price Inflation: Fortunately still low: -0.5% y/y, thx imported deflation from the euro zone, but internal inflation >0
Other HICPs Y/Y: Eurozone
1.1 0.9 , 0.7,0.5 0.4% -0.2% -0.6% Germany: +0.1% -0.5%
0.5 0.3, 0.2, 0.0 % -0.5% -1.5% Italy: 0.5 0.3, 0.2, 0.0 -0.2 0.0% -0.4%
Dr. Thomas Jordan, Chairman of Our Swiss National Bank, the leader for implementing price stability after far too many years of monetary expansion, said on November 23 2014 (in response to the gold referendum):
Money is sound when it fulfils its functions as a means of payment and store of value as smoothly and reliably as possible in people’s everyday lives. Sound money retains its value and is generally accepted. It also makes an important contribution to social harmony and material prosperity. Sound money is therefore a central pillar of our society. The mandate of monetary policy is to ensure that money remains sound. Consequently, the Swiss National Bank (SNB) bases all of its activities on this mandate. (source SNB)
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