Monthly Archive: November 2024

Sound Money Movement Chalks Up Seven State Legislative Victories in 2024

2024-11-05

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2024-11-05

This year is shaping up to be one of the most legislatively successful in US sound money history. Money Metals Exchange was instrumental in achieving six new sound money victories, as well as one key defensive win. The upshot is that sound money legislation, carefully crafted and propelled by grassroots enthusiasm, is proving to be both practical and achievable.The seven legislative successes, coming on the heels of five in 2023, range from new...

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The Menace of the State

2024-11-05

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2024-11-05

The election is upon us. We wonder whether we have to have war, tariffs, and deficit spending, regardless of whom we support. What are we to do? Faced with the intractable problems of misgovernment, we need to look deeper. Following the great Murray Rothbard, we should ask, do we need a State at all? Rothbard’s answer was a clear “No.” And not only do we not need a State; the State is a menace.Following Franz Oppenheimer and Albert Jay Nock,...

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With JD Vance and Elon Musk, Suddenly Ideas Are Back in this Campaign

2024-11-05

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2024-11-05

This presidential campaign season may be one of those turning points in history for reasons good and bad. Anyone watching the one debate between the Republican and Democratic Party candidates would not have come away with the view that this was a great battle of competing principles and visions for the future. It was a campaign of name-calling and bullets, where one candidate avoided discussing ideas at all costs – and even avoided the media at all...

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Election Day! Plan For Volatility

2024-11-05

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2024-11-05

With Election Day finally here, markets are bracing for potential volatility. History shows that the stock market can react unpredictably to election outcomes, especially when the results are unclear or contested. In past elections, sudden policy shifts, political uncertainty, or contentious outcomes caused heightened volatility—making it essential to prepare your portfolio now to weather whatever the day brings. The S&P 500 has averaged a...

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The American Empire

2024-11-05

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2024-11-05

What is the Mises Institute? The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property...

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Forex Today: Markets remain on edge on US election day

2024-11-05

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2024-11-05

Here is what you need to know on Tuesday, November 5: Financial markets remain on edge as the US presidential election takes center stage, with latest polls pointing to a tight race. On Tuesday, the US economic calendar will feature Goods Trade Balance data for September and the ISM Services PMI report for October. Later in the day, the US Treasury will hold a 10-year note auction.  US Dollar PRICE This week The table below shows the...

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No Matter How You Vote, Politicians Don’t Represent You

2024-11-05

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2024-11-05

One of the most foundational assumptions behind modern democracy is that the elected officials somehow represent the interests of those who elected them.Advocates for the political status quo flog this position repeatedly, claiming that taxation and the regulatory state are all morally legitimate because the voters are “represented.” Even conservatives, who often claim to be for “small government” often oppose radicalism of any kind — such as...

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No Matter Who Wins, Half the Country Won’t Believe in the Election

2024-11-05

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2024-11-05

Today, in theory, will conclude the 2024 presidential election, one of the most bizarre in American political history. From inner-party coups to assassination attempts, Kamala’s Brat summer social media trend to Trump’s courting of comedian podcasts, the campaign cycle has been saturated with the unconventional. It has, of course, also seen its expected share of shallow, political, rhetorical rhetoric and general economic illiteracy, which are the...

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USD/CHF remains below 0.8650, market caution emerges ahead of US presidential election

2024-11-05

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2024-11-05

USD/CHF remains steady due to market caution amid increased uncertainty surrounding the US election results. Improved US Treasury yields could have provided support for the US Dollar. The continued slowdown in Swiss inflation has increased the likelihood of a bumper SNB rate cut in December. USD/CHF holds ground after registering losses in the previous session, trading around 0.8640 during the Asian hours on Tuesday. The US Dollar (USD) remains...

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No Mises Bust at the University of Vienna

2024-11-04

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2024-11-04

This past summer I joined my son in Vienna. He was there on a fellowship from his senior year at Carleton College to study architecture, in particular the work of Otto Wagner, the Secession movement, and so on. I had only been there once before, when backpacking during law school. I accompanied him on his explorations and we feasted on Viennese cuisine at places recommended by local friends. I suggested that we take time to visit the University of...

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A Brief History of Tariffs and Stock Market Crises

2024-11-04

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2024-11-04

The most important and globally misunderstood aspect of tariffs is their impact on the stock market. History has demonstrated that tariffs can cause immediate market corrections and destroy investor capital. They also backfire on American manufacturers and consumers.Tariffs may be aimed at foreign companies and governments, but their domestic consequences are often far greater. Advocates for protectionist measures on steel, lumber, electric...

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Market Polls To Help Handicap The Election

2024-11-04

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2024-11-04

With election eve upon us, we thought it would be helpful to share market based presidential election polls along with Greg Valliere's final thoughts. The graph on the top left shows the price of Trump Media & Technology Group (DJT), which runs Truth Social Media. Truth will be a clear beneficiary if Trump wins and …

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Mises on Predicting Election Outcomes

2024-11-04

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2024-11-04

As of this morning, ABC’s Project FiveThirtyEight says that Donald Trump wins 53 times out of 100 and Kamala Harris wins 47 times out of 100. How can we make sense of this statement?To do so, we have to understand the difference between case probability and class probability.Presidential elections are unique events that are determined by the actions of humans, and so belong to the case probability category. The nature of such events is that...

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Swiss Federal Railways launches campaign for safety on public transport

2024-11-04

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2024-11-04

Train staff suffer on average ten verbal or physical attacks every day, some of which have become more serious in recent years, says the Swiss Federal Railways. Keystone-SDA Listen to the article Listening the article...

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Markets Made of Glass—How the Fed Destroyed Economic Resilience

2024-11-04

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2024-11-04

Central to any good investor’s decision-making process is determining the degree to which the target of investment is “robust to the downside.” Can the investment maintain its value—or even continue to provide sufficient return on capital—in the event of a pullback in the broader economy or a specific sector?Warren Buffett has aptly referred to this feature as “margin of safety.” While critical to rational decision-makers, margin of safety seems...

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Swiss property prices continue to rise

2024-11-04

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2024-11-04

Single-family home prices rose the most in the urban municipalities of large agglomerations. Keystone-SDA Listen to the article Listening the article Toggle language selector...

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The Private-Sector Job Market Is Shrinking

2024-11-04

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2024-11-04

What is the Mises Institute? The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property...

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US Polls Spur Position Adjusting Ahead of Tomorrow’s Election

2024-11-04

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2024-11-04

Overview: Weekend polls in the US made it seem that the Trump victory, which many large pools of capital, had discounted, was not so inevitable after all. The most dramatic market response was taking US yields and the dollar lower. The US 10-year yield is off about nine basis points to straddle 4.30% and the two-year yield down four basis points to around 4.16%. The greenback is also against all the G10 currencies. Most emerging market currencies...

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Does the Fed’s Lowering the Interest Rates Strengthen Economic Growth?

2024-11-04

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2024-11-04

On September 18, 2024 the Federal Reserve (“Fed”) lowered its policy interest rate target by 0.5 percent to 5 percent. Most commentators, including the Fed chairman Jerome Powell, hold that the lowering of the policy rate is going to strengthen the economy. This way of thinking is based on the view that the lowering of interest rates is going to strengthen the demand for goods and services. As a result, this would strengthen the production of goods...

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Swiss beekeepers report below-average honey harvest

2024-11-04

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2024-11-04

More Swiss scientists to use AI for improved weather and climate forecasts This content was published on Nov 4, 2024 MeteoSwiss and the Swiss Data Science Center have signed a four-year agreement to make greater use...

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