Monthly Archive: May 2025

MMT Is Wrong about the History of the Origins of Money

2025-05-07

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2025-05-07

Not only are Modern Monetary Theory (MMT) cultists dishonest about the role of money, they also are dishonest about money‘s history. By taking issue with Carl Menger‘s historical version, they expose their own ignorance of how money came about.

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Swiss Golden Visa scheme faces opposition

2025-05-07

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2025-05-07

Passports for sale? Golden visa schemes are residency for the rich. Keystone / Christian Beutler Listen to the article Listening the article Toggle language selector...

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Real ID Is Not About Keeping You Safe

2025-05-07

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2025-05-07

Real ID is the latest example of the government using 9/11 as an excuse to grab more power.

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Fed keeps Fed Funds rate unchanged.

2025-05-07

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2025-05-07

"the Committee decided to maintain the target range for the federal funds rate at 4-1/4 to 4-1/2 percent." Click here for post-FOMC press conference.

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Inflation: Looking Beyond Aggregates

2025-05-07

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2025-05-07

Mainstream economists define inflation as the increase in an imaginary “price level” that is relatively neutral in its effects. Austrian economists, however, know better, as they realize that the effects of inflating the money supply are anything but neutral.

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US-China Trade Talks this Weekend Help Stabilize the Greenback ahead of FOMC

2025-05-07

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2025-05-07

Overview: There are five developments to note. First, the US and China will have initial trade talks this weekend in Switzerland. Second, the PBOC cut its key rate by 10 bp and cut reserve requirements by 0.5%. It also announced several other measures to boost lending/relending. Third, German factory orders were stronger than expected, perhaps …

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The Storm Before The Calm

2025-05-07

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2025-05-07

Risk management is critical to wealth preservation, especially in today's turbulent market storm. However, during such volatile times, we must also not consider what tomorrow may have in store.  Are you prepared to adjust your portfolio in the coming months for the possibility that calm, tranquil markets and a resumption of the bullish trend emerge?

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US and China to launch formal trade talks

2025-05-07

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2025-05-07

The Trump administration’s trade war against China has triggered concerns about global supply chains. Chinatopix Listen to the article Listening the article Toggle...

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OPEC Does The Unthinkable

2025-05-07

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2025-05-07

This past weekend, OPEC, led by Saudi Arabia, announced it would increase production by 411k barrels per day. The action follows a 250k increase last month. The decision is different from OPEC’s decision-making in the past. OPEC typically would use production quotas to manage oil prices. For example, in the current environment, with oil prices …

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PBOC Returns and Helps Stabilize Local FX

2025-05-06

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2025-05-06

Overview: China's mainland markets re-opened after the extended holiday, and the by setting the dollar's reference rate little changed from its last fix helped inject a note of stability into the local Asian currencies. Indeed, most of them pulled back today, including the Taiwan dollar and the Malaysian ringgit. The yuan and yen are firmer. …

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PCE Is Quite Confusing

2025-05-06

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2025-05-06

An email from a reader of ours led with the title "PCE is quite confusing." He asked if we would explain the difference between the monthly PCE prices index and the quarterly PCE prices, i.e., the GDP deflator, accompanying the GDP report.

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The Impact of Rising Interest Rates on Investments and How to Adapt

2025-05-06

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2025-05-06

Rising interest rates are a powerful force in the financial world, capable of reshaping markets and shifting investment dynamics. As the Federal Reserve raises rates to combat inflation or stabilize economic growth, the ripple effect is felt across stocks, bonds, and real estate. While these rate hikes may be out of investors’ control, adapting your …

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The Terminal Rot in Corporate America

2025-05-05

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2025-05-05

Corporate America took advantage of the Covid shortages and fiscal largesse to profiteer on a scale criminals could only dream of.

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Trucks unable to cross Swiss Alps by rail from 2026

2025-05-05

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2025-05-05

Swiss piggyback transport to disappear by 2025 due to lack of resources Keystone-SDA Listen to the article Listening the article Toggle language selector...

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Canton Valais wins, Zurich loses in Swiss company reshuffle

2025-05-05

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2025-05-05

Arrival of companies from other cantons, Ticino seventh in Switzerland Keystone-SDA Listen to the article Listening the article Toggle language selector...

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Swiss business backs multi-billion franc state savings plan

2025-05-05

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2025-05-05

Business backs savings package worth billions Keystone-SDA Listen to the article Listening the article Toggle language selector...

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US Dollar Remains Under Pressure, while Asia Pacific Currencies Lead the Charge

2025-05-05

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2025-05-05

Overview: The dollar has begun the new week under pressure, though many financial centers are closed today. The upside pressure on Asia Pacific currencies remains notable. The offshore yuan, the Taiwanese dollar, and Malaysian ringgit, the Japanese yen, and Australian dollar are among the strongest currencies today. The ostensible trigger is speculation of US semiconductor …

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Might Japan Be The Treasury’s Knight In Shining Armor?

2025-05-05

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2025-05-05

Japan holds over $1 trillion of US Treasury securities, making it the largest sovereign holder by a significant amount. Thus, the possibility has arisen that Japan might use its extensive holdings as leverage in tariff negotiations. Japanese Foreign Minister Katsunobu Kato said Japan has not made a decision on whether to include its holdings as …

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Swiss inflation rate drops to zero in April

2025-05-05

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2025-05-05

The price of Swiss consumer goods was unchanged in April Keystone / Gaetan Bally Listen to the article Listening the article Toggle language selector...

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“Resistance Is Futile” – For Both Bulls And Bears

2025-05-05

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2025-05-05

"Resistance is futile" was a sentence that struck fear in the hearts of Trekkie fans during "Star Trek: The Next Generation," specifically in both of the "Best Of Worlds" and "First Contact" episodes. In those episodes, the "Starship Enterprise" crew encountered a species called the "Borg." The Borg's primary purpose was to achieve "perfection" by assimilating other beings …

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