Tag Archive: Featured

Understanding the Proper Meaning of “Equality”

2020-11-01

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2020-11-01

Nowhere is the difference between the reasoning of the older liberalism and that of neoliberalism clearer and easier to demonstrate than in their treatment of the problem of equality. The liberals of the eighteenth century, guided by the ideas of natural law and of the Enlightenment, demanded for everyone equality of political and civil rights because they assumed that all men are equal.

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Populism Worked for the Pro-Freedom Party in the Past. Can It Work Again?

2020-11-01

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2020-11-01

Although he was a scholar with degrees in mathematics and economics, Murray Rothbard was very much a fan of the American layman. Indeed, he was a populist both in temperament and in his political views. In a 1992 column outlining his populist strategy, Rothbard noted the importance of reaching out to the general public and especially to those groups that were most negatively impacted by state power.

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SNB Profit in Q1 to Q3 2020: CHF 15.1 billion Despite Covid19

2020-10-31

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2020-10-31

Volatility of SNB Earnings
The Swiss National Bank reports a profit of CHF 15.1 billion for the first three quarters of 2020. We explain why these profits are possible.

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Switzerland cuts its quarantine list as infections rise steeply

2020-10-31

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2020-10-31

On 28 October 2020, Switzerland’s federal government removed all but 6 nations/regions from its quarantine list, effective from 29 October 2020.

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Novartis boosts involvement in anti-Covid treatment

2020-10-31

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2020-10-31

The biotech company and the pharmaceutical giant want to develop and market a drug with a unique approach for the prevention and treatment of Covid-19.

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Unless the US stops printing money, the dollar will collapse

2020-10-31

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2020-10-31

Claudio Grass (CG): This crisis has shaken a lot of industries and core functions of the global economy and international trade. How do you assess its impact on the most important part of the machine, the banking system? Do you see risks there that investors should be worrying about?

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Dollar Bid as Markets Steady Ahead of ECB Decision

2020-10-31

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2020-10-31

Equity Performance YTD, 2020
Global equity markets are gaining limited traction today after yesterday’s bloodbath; that sell-off helped test a now prevalent hedging thesis for investors. The dollar remains bid; US Q3 GDP data will be the data highlight; weekly jobless claims will be reported.

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No, the American Republic Was Not Founded on Slavery

2020-10-31

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2020-10-31

Audio Mises Wire
The fact that some Americans supported slavery in the eighteenth century is not at all remarkable. Most of the world agreed with them. What is remarkable is that many of them sought to abolish slavery in the new republic. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. Original Article: "No, the American Republic Was Not Founded on Slavery".

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FX Daily, October 30: Investors Scared Before Halloween

2020-10-30

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2020-10-30

EUR/CHF and USD/CHF, October 30
Investors punished US tech giants for not delivering perfection as prices apparently had discounted, and the subsequent sell-off coupled with month-end dynamics has rocked global equities.  Asia Pacific bourses were a sea of red, led by a 2.5% decline in the tech-heavy South Korean Kospi, but most major markets were off more than 1%. 

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2020-10-30 – Swiss Financial Accounts: quarterly data published for first time

2020-10-30

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2020-10-30

The Swiss National Bank is expanding its data offering with respect to Switzerland’s financial accounts. It will now publish quarterly as well as annual data, and the time to publication will be shortened from ten to four months.

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Swiss Retail Sales, September 2020: 0.3 percent Nominal and 0.3 percent Real

2020-10-30

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2020-10-30

Switzerland Retail Sales YoY, September 2020
30.10.2020 - Turnover adjusted for sales days and holidays rose in the retail sector by 0.3% in nominal terms in September 2020 compared with the previous year. Seasonally adjusted, nominal turnover fell by 3.6% compared with the previous month.

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ALICE Doesn’t Work Here Anymore

2020-10-30

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2020-10-30

Wages share income,1960-2020
What the political class and the Financial Nobility don't yet grasp is that ALICE will never go back to her insecure, low-wage job, ever.

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Swiss select ex-central banker for OECD top post

2020-10-30

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2020-10-30

The Swiss government has nominated Philipp Hildebrand, a former head of the country’s central bank, to lead the Organisation for Economic Co-operation and Development (OECD).

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No, the American Republic Was Not Founded on Slavery

2020-10-30

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2020-10-30

Journalistic propaganda is a powerful instrument of indoctrination. Without evidence, foul ideas can easily penetrate mainstream discourse. For instance, recently it has become fashionable to posit that slavery is America’s original sin.

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FX Daily. October 29: Markets Continue to Struggle

2020-10-29

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2020-10-29

The spreading virus that is shutting down large parts of Europe, while the US is reluctant to return to lockdowns and refuses to have a nationwide requirement for masks in public hit risk assets yesterday.  The S&P posted its largest decline in four-months yesterday (~3.5%), and the selling carried into the Asia Pacific region.

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Introducing the Bannockburn World Currency Index

2020-10-29

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2020-10-29

The Dollar Index is a popular way to think about and trade "the dollar."  However, it has become less relevant as a reflection of the dollar's performance or representative of trade, capital flows, market capitalization. 

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Covid: UK study suggests natural immunity short lived

2020-10-29

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2020-10-29

Levels of SARS-CoV-2 antibodies wane quite rapidly after infection, researchers from Imperial College London have found. The team, which measured SARS-CoV-2 antibody levels in 365,000 people between June and September saw a decline of 26% in the number testing positive for antibodies.

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Coronavirus: a record 8,600 new daily cases in Switzerland

2020-10-29

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2020-10-29

On 28 October 2020, Switzerland’s Federal Office of Public Health (FOPH) reported 8,616 new cases of SARS-CoV-2 infection over 24 hours, bringing the total to 135,658.

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Was Rothbard a Populist?

2020-10-29

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2020-10-29

Why did Murray Rothbard embrace populism and why did he think it could work to limit the power of the state? In short, Rothbard believed that a small elite had seized the power of the state to fleece and oppress the majority. Rothbard was in part basing his ideas on the historical narrative of the Democratic populists of the nineteenth century who formed the party of sound money, low taxes, and decentralized power. This laissez-faire party also...

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What’s Going On, And Why Late August?

2020-10-29

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2020-10-29

ICE: US$ Index Futures, DX1
This isn’t about COVID. It’s been building since the end of August, a shift in mood, perception, and reality that began turning things several months before even then. With markets fickle yet again, a lot today, what’s going on here?

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