Tag Archive: Swiss Banks

Switzerland Is Well-Prepared For Civilizational Collapse

2017-12-19

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2017-12-19

Swiss1
More than any other country, Switzerland’s ethos is centered around preparing for civilizational collapse. All around Switzerland, for example, one can find thousands of water fountains fed by natural springs. Zurich is famous for its 1200 fountains, some of them quite beautiful and ornate, but it’s the multiple small, simple fountains in every Swiss village that really tell the story. Elegant, yes, but if and when central water systems are...

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“Gnomes Of Zurich” In Panic As Saudi Corruption Crackdown Sparks Flood Of Money Laundering Inquiries

2017-12-08

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2017-12-08

Zurich
There are two divergent views on the crackdown on corruption by Saudi Arabia’s crown prince, Mohammed bin Salman (MBS), which led to the arrest and detention of 200 princes, ministers and former ministers. On one hand, it was a masterstroke which will earn political capital with the Saudi people and catalyse an Arab Spring in which MBS is a modernizing reformer who will liberalise Islam.

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Swiss Banks Paid Out €1 Billion In Negative Interest Rates In The First Half

2017-08-01

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2017-08-01

Investment Structure at the end of Q2 2017
Overnight, the Swiss National Bank disclosed the composition and breakdown of its FX reserves as of June 30. There were no notable changes, as the central bank kept most of its asset allocations unchanged from the previous quarter, with equities, government bonds and "other bonds", at 20%, 68% and 12% respectively. There were also no shifts in the currency composition as shown in the table below.

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Credit Suisse Offices Raided In Multiple Tax Probes: Gold Bars, Paintings, Jewelry Seized

2017-04-01

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2017-04-01

Credit Suisse has confirmed that the Swiss bank, some of its employees and hundreds of account holders are the subjects of a major tax evasion probe launched in UK, France, Australia, Germany and the Netherlands, setting back Swiss attempts to clean up its image as a haven for tax evaders.

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Former CEO Of UBS And Credit Suisse: “Central Banks Are Past The Point Of No Return, It Will All End In A Crash”

2016-11-21

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2016-11-21

Remember when bashing central banks and predicting financial collapse as a result of monetary manipulation and intervention was considered "fake news" within the "serious" financial community, disseminated by fringe blogs? In an interview with Swiss Sonntags Blick titled appropriately enough "A Recession Is Sometimes Necessary", the former CEO of UBS and Credit Suisse, Oswald Grübel, lashed out by criticizing the growing strength of central banks...

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Negative Consumer Financing Rates in Germany, Soon More Negative in Switzerland?

2016-08-07

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2016-08-07

Things are increasingly upside down in the brave new centrally planned world: thanks to negative deposit rates central banks have put an explicit cost on saving, while in various instances, such as taking out a mortgage in Denmark and the Netherlands, the bank actually pays the borrower, thus rewarding living beyond one's means.

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Panama Tax Haven Scandal: The Bigger Picture

The “Panama Papers” tax haven leak is big … After all, the Prime Minister of Iceland resigned over the leak, and investigations are taking place worldwide over the leak. But the Panama Papers reporting mainly focuses on friends of Russia’s Putin, Ass...

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ZIRP, NIRP, QE, Bank Collapse and Helicopters Coming Too Late – The Lehman Effect Hits Europe – Hard!

2016-04-11

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2016-04-11

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...

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HSBC Looks At “Life Below Zero,” Says “Helicopter Money” May Be The Only Savior

2016-02-27

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2016-02-27

In many ways, 2016 has been the year that the world woke up to how far down Krugman’s rabbit hole (trademark) DM central bankers have plunged in a largely futile effort to resuscitate global growth. For whatever reason, Haruhiko Kuroda’s move into NI...

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