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The Depression of the 1780s and the Banking Struggle

It has been alleged—from that day to this—that the depression which hit the United States, especially the commercial cities, was caused by “excessive” imports by Americans beginning in 1783.

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The World Needs a Gold-Backed Deutsche Mark

The seeds of sound-money destruction were sown at the 1944 Bretton Woods Conference, which established that US dollars could be held as central bank reserves and were redeemable for gold by the US Treasury at thirty-five dollars an ounce. This was the so-called gold exchange standard, but only foreign central banks and some multinational organizations, such as the International Monetary Fund (IMF), enjoyed this right of redemption. The system...

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Why No State Needs Thousands of Nuclear Warheads

Last week, the United States signed a five-year extension of the New START arms control treaty with Russia. Russia’s President Putin signed the treaty shortly thereafter. The “Strategic Arms Reduction Treaty” allows Russia and the US to monitor each other’s nuclear forces, facilities, and activities.

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The Dystopian Bubble: George Orwell Meets Charles Mackay

“Threats to freedom of speech, writing, and action, though often trivial in isolation, are cumulative in their effect and, unless checked, lead to a general disrespect for the rights of the citizen.”

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Zwischenstopp Geldanlage Frankfurt Folge 4: Es gibt immer wieder Krisen!

Der Wall-Street-Experte Markus Koch trifft sich mit Experten für die Geldanlage. Er stellt darin die Menschen näher vor, die große Kundenvermögen managen. Seine Gesprächspartner sind Stefan Krause, Leiter der Frankfurter Niederlassung der Vermögensverwaltung von DJE, und Sven Madsen, CIO der Vermögensverwaltung in Frankfurt.

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Politics and Ideas

In the Age of Enlightenment, in the years in which the North Americans founded their independence, and a few years later, when the Spanish and Portuguese colonies were transformed into independent nations, the prevailing mood in Western civilization was optimistic.

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Switzerland experiences highest unemployment rate in a decade

The unemployment rate in Switzerland rose again in January, reaching 3.7% - the highest level since April 2010. 

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DJE – Marktausblick Februar 2021: Cleantech und das Comeback der Zykliker

Die Kurskorrektur im Januar hat die Euphorie der Anleger gebremst. Das ist ein gutes Zeichen für die Markttechnik. Technologie- und Cleantech-Werte können ein weiterhin starkes Wachstum vorweisen. Unterdessen überraschen aber auch zyklische Werte mit erfreulichen Bilanzen, was für eine Belebung der Konjunktur spricht. Der Markt wird breiter.

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There Is No “Optimum” Growth Rate for the Money Supply

Most economists hold that a growing economy requires a growing money stock on the grounds that growth gives rise to a greater demand for money that must be accommodated. Failing to do so, it is maintained, will lead to a decline in the prices of goods and services, which in turn will destabilize the economy and lead to an economic recession or, even worse, depression.

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The Great Reset, Part IV: “Stakeholder Capitalism” vs. “Neoliberalism”

Any discussion of “stakeholder capitalism” must begin by noting a paradox: like “neoliberalism,” its nemesis, “stakeholder capitalism” does not exist as such. There is no such economic system as “stakeholder capitalism,” just as there is no such economic system as “neoliberalism.” The two antipathetic twins are imaginary ghosts forever pitted against each other in a seemingly endless and frenzied tussle.

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Is the grass greener outside the EU?

Britain argues that Brexit will make British agriculture greener. SWI Swissinfo.ch looks at how successful EU agricultural policies have been, and how they compare with Switzerland’s approach.  

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National School Choice Week Is Not About Freedom

This week conservatives are celebrating national “School Choice Week.” According to the website of this celebration, “School choice means giving parents access to the best K-12 education options for their children. These options include traditional public schools, public charter schools, magnet schools, private schools, online academies, and homeschooling.”

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Deal or no Deal: How five non-member states handle EU relations

With Brexit done, Switzerland is hoping it can restart negotiations on its framework agreement with the European Union. The experience of other non-member states offers some valuable lessons on how it can engage with Brussels, though no blueprint exists.  SWI swissinfo.ch looks at how five other non-member states have negotiated with the EU.

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In a Paranoid Nation, “Treason” Is Everywhere

FBI agents across the nation are tracking down and arresting Trump supporters who walked into the US Capitol during the January 6 protest that turned into a brawl. Scores of protestors have already been charged with unlawful entry—“knowingly entering or remaining in a restricted building or grounds without lawful authority.”

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How Vaccine Technology, Choice and Supply Work in Switzerland

The Swiss Covid-19 vaccination campaign is up and running with two approved vaccines available to accelerate the fight against the virus, and others set to follow. How do the vaccine technologies work and compare, and can people choose which one they get?

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FX Daily, January 20: The Dollar Slips to New Lows against Sterling and the Mexican Peso

Global equities are moving higher today. Led by continued strong buying of Hong Kong shares, the MSCI Asia Pacific Index rose to new highs. The Hang Seng is up 6% this year and is approaching the 2019 record high. Australia's shares set a new record today. Japan and Taiwan bucked the trend.

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When It Comes to National Defense, Bigger Isn’t Always Better

In the debate over whether or not China will soon rise to challenge the United States as the world’s hegemon, it is often assumed that states with large aggregate economies are necessarily more militarily powerful ones. This stems from decades-old methods that remain popular among scholars and pundits who write on international relations and foreign policy.

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Inflation Breeds Even More Inflation

I. Warning against Fiduciary Media. Early in the 20th century, Ludwig von Mises warned against the consequences of granting the government control over the money supply. Such a regime inevitably creates money through bank credit that is not backed by real savings—a type of money that Mises termed "fiduciary media."

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How the State Preserves Itself—and What the State Fears

Once a State has been established, the problem of the ruling group or "caste" is how to maintain their rule.1 While force is their modus operandi, their basic and long-run problem is ideological. For in order to continue in office, any government (not simply a "democratic" government) must have the support of the majority of its subjects.

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DJE – Marktausblick Januar 2021: Favoritenwechsel

2021 startet mit viel Optimismus, mit der Hoffnung auf eine Belebung der Konjunktur und gewaltigem monetären Rückenwind. Die bisherigen Favoriten, sei es Branche oder Region, treten nicht unbedingt ab, aber sie werden zunehmend ergänzt und flankiert: Der Markt wird breiter, und das ist ein gutes Zeichen.

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