Tag Archive: Politics

Central Banks’ record gold stockpiling

2022-01-22

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2022-01-22

According to recently released data by the World Gold Council (WGC), as of September 2021, the total amount of gold held in reserves by central banks globally exceeded 36,000 tons for the first time since 1990. This 31-year record was the result of the world’s central banks adding more that 4,500 tons of the precious metal to their holdings over the last decade and it provides ample support for the investment case for gold, in both directly...

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Finance minister says global corporate tax to come into force in 2024

2022-01-14

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2022-01-14

The Swiss government has pledged to implement from 2024 the minimum tax rate for large multinational companies under a global tax deal.

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Lessons from 2021: The rational way out

2021-12-27

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2021-12-27

As we are all preparing to bid farewell to 2021, there is a general feeling that this year, much like its predecessor, will not be missed. To my mind, however, it is clear that even though the past 12 months didn’t really teach us anything new, they did help cement the lessons of 2020 and spread important ideas to people who might otherwise have never come to question anything about the status quo.

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Omicron forces WEF to postpone flagship event again

2021-12-22

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2021-12-22

The Covid-19 pandemic has severely disrupted plans to hold the World Economic Forum’s (WEF) main annual meeting in Davos for a second year in a row.

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Pension reform passes in parliament but set to be challenged to vote

2021-12-18

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2021-12-18

Parliament has approved a major reform of the Swiss pension system, including a controversial rise in the retirement age for women. The overhaul also foresees financial compensation – staggered over nine years for women directly affected by the change – as well as an increase in value-added tax.

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Expo 2020 Dubai: Swiss pavilion focuses on sustainability and innovation

2021-12-16

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2021-12-16

The Swiss pavilion at the ongoing Universal Exposition in Dubai leads the visitor through Alpine landscapes in a show of light and shadows to showcase Swiss sustainability, urbanisation and innovation. It is a concept that seems to appeal to the public, despite the pandemic and the many contradictions that characterise the Gulf region.

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The highs and lows of living and working in Switzerland

2021-12-05

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2021-12-05

Last year foreign workers in Switzerland loved the quality of life but moaned about how hard it is to settle in. Have they since cracked how to befriend the allegedly surly Swiss? The Expat City Ranking 2021 lists both praise and peeves of newcomers.

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Government interventions and the Cobra effect – Part II

2021-12-03

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2021-12-03

Of course, one of the most important and consequential parts of the incredibly complex organism that is the economy is money itself. It is its lifeblood and as the song goes, “it makes the world go round”. Therefore, manipulating the currency itself is one the most dangerous and hubristic things a central planner can do, which probably explains why it’s their favorite pastime.

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Government interventions and the Cobra effect – Part I

2021-12-02

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2021-12-02

Almost two decades ago, German economist Horst Siebert coined the term the “Cobra effect” to describe the real-world consequences of “well-intentioned” government interventions that go awry and produce the exact opposite results from what they aim for.

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Omicron exposes our pandemic failures

2021-12-02

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2021-12-02

They say a week is a long time in politics – last week we discovered it’s a long time in a pandemic as well. We started the week anxiously watching the rising Covid cases in Europe, and wondering what new restrictions might be heading our way for Christmas.

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Swiss government moots international monetary assistance

2021-11-19

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2021-11-19

The government seeks to renew its policy to support assistance measures by the International Monetary Fund (IMF). It asked parliament to approve plans to continue international monetary cooperation to the tune of CHF10 billion ($10.8 billion) by 2028.The existing legal basis expires in April 2023, according to officials.

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Corruption of the currency and decivilization – Part II

2021-11-03

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2021-11-03

Many rational economists and students of history have written countless analyses on the gold standard and the terrible impact that its end has had on the world economy. However, as the Fall of Rome clearly demonstrates, the implications of the introduction of the fiat money system and of the limitless manipulation of the currency by the State reach much further.

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Last authorised protest in Bern ahead of anti-Covid vote takes place peacefully

2021-10-31

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2021-10-31

Last weekend, several thousand protestors assembled outside the Federal Palace in Bern to voice their opposition to Switzerland’s response to the Covid-19 pandemic, reported Tribune de Genève.

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Swiss government deficit for 2021 revised down

2021-10-30

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2021-10-30

The latest forecast for 2021 shows a deficit of CHF 14.8 billion, down CHF 2.6 billion from an earlier forecast shortfall of CHF 17.4 billion. The deficit is driven mainly by the extraordinary cost of responding to the Covid-19 pandemic.

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Thousands protest against Covid measures in Switzerland

2021-10-20

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2021-10-20

Over the weekend, several thousand people took to Swiss streets to protest against Switzerland’s measures to reduce the impact of Covid-19, reported RTS.

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Weekly Market Pulse: Perception vs Reality

2021-10-18

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2021-10-18

It was the best of times, it was the worst of times… Charles Dickens, A Tale of Two Cities Some see the cup as half empty. Some see the cup as half full. I see the cup as too large.

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50 years since the closure of the “gold window”

2021-10-09

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2021-10-09

President Nixon’s unilateral decision to sever the last link between the dollar and gold had wide ranging and long lasting consequences for the global economy and for the entire monetary system. The end of sound money facilitated and accelerated the concentration of power at the top and the ability to manipulate the currency allowed politicians and central planners to further expand the state’s reach and push ahead with populist, reckless and...

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Solidarity vital to overcome crises, Swiss president tells UN

2021-09-24

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2021-09-24

Guy Parmelin, who holds the rotating Swiss presidency this year, has called for solidarity to tackle global environmental and trade issues.

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Swiss won’t vote on arms export ban proposal

2021-09-17

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2021-09-17

Campaigners seeking a ban on Swiss arms exports have withdrawn their initiative that aimed to stop weapons exports to countries in conflict.

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Risk Appetites Return from Holiday

2021-08-23

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2021-08-23

Overview: After an ugly week, market participants have returned with strong risk appetites.  Equities are rebounding, and the greenback is paring recent gains.  Bond yields are firm, as are commodities.  Asia Pacific equities got the ball rolling with more than 1% gains in several large markets, including Japan, China, Hong Kong, and Taiwan. 

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