Tag Archive: Swiss National Bank
Nigeria Currency Devaluation Looms As FX Forwards Crash To Record Lows
Despite US equity investors' exuberance over bouncing crude oil prices, the world's crude producers continue to suffer and while Venezuela is in the headlines every day (having already collapsed into chaos), Nigeria appears the nearest to that abyss ...
Read More »
Read More »
Three unintended consequences of NIRP
Central bankers use low or negative interest rates so that it leads to more investment. For them interest rates are a consequence of the currently very low inflation rates. Patrick Watson argues differently: Falling prices are a consequence of low interest rates.
Read More »
Read More »
Apple Jumps After Berkshire Reveals 9.8 Million Share Stake
After three consecutive weeks of seemingly relentless bad news for Apple, moments ago the stock jumped by $2 dollars, rising from $90.5 to over $92.50. Some hope for the Swiss National Bank or will Berkshire shares sink together with Apple and the SNB?
Read More »
Read More »
As Carl Icahn Was Selling Apple, This Central Bank Was Furiously Buying
We hope for the sake of Swiss residents that equity markets never suffer a dramatic drop. The SNB has “invested” 20% of Swiss GDP in stocks. When will the ivory tower economists ultimately lose control of the most manipulated, centrally-planned market in history?
Read More »
Read More »
St. Louis Fed Slams Draghi, Kuroda – “Negative Rates Are Taxes In Sheep’s Clothing”
"At the end of the day, negative interest rates are taxes in sheep’s clothing. Few economists would ever claim that raising taxes on households will stimulate spending. So why would they think negative interest rates will?" Those are the shocking wor...
Read More »
Read More »
Gold, Bonds and Negative Interest Rates Give SNB a Q1 profit
SNB Results Q1 2016: Two thirds of SNB profit comes from Gold. Deflation helps with higher bonds prices and profit on negative interest rates.
Read More »
Read More »
With Tech Tanking, Can Anything Save The System?
Submitted by John Rubino via DollarCollapse.com,
First it was the banks reporting horrendous numbers — largely, we were told, because of their exposure to recently-cratered energy companies. Now it’s Big Tech, which is a much harder thing t...
Read More »
Read More »
Wall Street and SNB In Pain: 163 Hedge Funds Are Long AAPL Stock
First it was the blow up of hedge fund darling Valeant that crushed countless funds who were long the name.
Then, one month ago after the collapse of the Allergan-Pfizer deal, we showed (one of the reasons) why the hedge fund world continued to unde...
Read More »
Read More »
A Take On How Negative Interest Rates Hurt Banks That You Will Not See Anywhere Else
The Bank of Japan and the ECB are assisting me in teaching the world's savers, banking clients and corporations about the benefits of blockchain-based finance for the masses. How? Today, the Wall Street Journal published "Negative Rates: How One Swis...
Read More »
Read More »
ZIRP, NIRP, QE, Bank Collapse and Helicopters Coming Too Late – The Lehman Effect Hits Europe – Hard!
It's official, I'm calling a banking crisis in Europe. Things didn't go well the last time I did this. Of course, many will say, "But the rating agencies have learned their collective lessons. They would most assuredely warn us if the European banks...
Read More »
Read More »
History of Bank of Japan Interventions
We show the history of Japanese FX interventions. The Japanese only intervened when the USD/JPY was under 80. Therefore the 2016 FX intervention threads at 108 are ridiculous.
As opposed to the Swiss National Bank, the Japanese only talk, they do not fight.
Read More »
Read More »
Big Players (Read: Governments) Make Markets Unsafe
Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
Reportage in The Wall Street Journal on April 4th states that “A fund owned by China’s foreign-exchange regulator has been taking stakes in some of the co...
Read More »
Read More »
The SNB and the Forex Rigging Irony
While Forex banks, traders, and other institutions are being blamed for market rigging, the Swiss National Bank can publish reports about its own market rigging, but instead of being a scandal, it's economic data. That's because the vast majority do...
Read More »
Read More »
Swiss National Bank Admits It Spent $470 Billion On Currency Manipulation Since 2010
By now it is common knowledge that when it comes to massive, taxpayer-backed hedge funds, few are quite as big as the Swiss National Bank, whose roughly $100 billion in equity holdings have been extensively profiled on these pages, including its woef...
Read More »
Read More »
How Venezuela Exported 12.5 Tonnes Of Gold To Switzerland On March 8
Submitted by Ronan Manly of Bullionstar Blogs
Following on from last month in which BullionStar’s Koos Jansen broke the news that Venezuela had sent almost 36 tonnes of its gold reserves to Switzerland at the beginning of the year, “Venezuela Exporte...
Read More »
Read More »
Another Fed “Policy Error”? Dollar And Yields Tumble, Stocks Slide, Gold Jumps
Yesterday when summarizing the Fed's action we said that in its latest dovish announcement which has sent the USD to a five month low, the Fed clearly sided with China which desperately wants a weaker dollar to which it is pegged (reflected promptly ...
Read More »
Read More »
Central Bank Independence in Switzerland: A Farce
articles by Marc Meyer, one of the most critical voices against the SNB.
This post explains
--- That the SNB does not understand what assets and liabilities are - and therefore - it speculates with massive leverage.
--- The difference between good and bad deflation
--- Both the SNB and the Swiss government do what some Swiss exporters want. Therefore, the formerly admired central bank independence in Switzerland has become a farce.
Read More »
Read More »
FX Daily 03/14: Five Central Banks Meet as Monetary Policy is Downgraded
Fixed exchange rates limit the degrees of freedom for policymakers. The breakdown of Bretton Woods in 1971 removed this constraint on official action, and the results were larger budget deficit and higher inflation. The zero bound on interest rates also posed a constraint on behavior. Until this year, despite the long struggle against deflation, the Bank …
Read More »
Read More »
Swiss National Bank Results 2015 and Comments
The Swiss National Bank (SNB) is reporting a loss of CHF 23.3 billion for the year 2015 (2014: profit of CHF 38.3 billion). The loss on foreign currency positions amounted to CHF 19.9 billion. A valuation loss of CHF 4.2 billion was recorded on gold holdings. The profit on Swiss franc positions was CHF 1.2 billion.
Read More »
Read More »