Tag Archive: Switzerland

Gold climbing from record high to record high: why buy now?

2024-10-30

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2024-10-30

Share this article Part II of II Business as usual” will simply not cut it anymore. The “print and spend” policies of the past, the QE lifelines, the liquidity injections, the zero and negative interest rates, the blatant debasement of the currency, the market manipulation and all the direct and indirect bailouts will not work as they did before.  And it’s not only because the central bankers have overused these “weapons” and have by now...

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Bailey Weighs on Sterling

2024-10-03

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2024-10-03

Overview: The dollar enjoys a firmer tone today. The escalating conflict in the Middle East is keeping the market on edge. And then there is tomorrow's US employment report. Among the G10 currencies, sterling has been the hardest hit. It is off around 1% after Bank of England Governor Bailey seemed to signal that after pausing last month, the central bank may turn more aggressive here in Q4. Nearly all the emerging market currencies are...

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The road to Serfdom: are we on the final stretch?

2024-08-03

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2024-08-03

Share this article An attempt at an analysis from the perspective of a free Swiss individual What you’re about to read is the abridged and condensed English translation of a speech I gave in Munich in November 2023. You can find the full speech, in German with English subtitles, here. It tackles the very difficult, but also very crucial, subject of individual freedom, or what is left of it these days, and it seeks to offer a constructive...

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Interview with Executive Global: “The Return of Marxism in the West”

2024-06-05

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2024-06-05

Our special interview on Swiss Wealth Advisor with CLAUDIO GRASS, CEO and Independent Precious Metals Consultant, explores the manner in which astute investors may preserve wealth against the backdrop of debilitating central economic planning and monetary inflation. 

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Dollar Recovers from Yesterday’s Slide, but Slumps Against the Yen

2024-06-04

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2024-06-04

Overview: The dollar's losses scored after yesterday's disappointing ISM manufacturing report were extended initially in Asia Pacific turnover earlier today before it recovered. The recovery has stretched the intraday momentum indicators, warning against expected strong follow-through dollar buying in North America, without fresh impetus.

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Is gold too expensive to buy right now?

2024-04-08

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2024-04-08

Share this article This question has been at the center of a great many conversations I’ve been recently having with clients and friends. The way I like to answer it is with another question: Expensive compared to what?  Despite its recent surge to record highs, there are compelling reasons why purchasing gold right now is a prudent decision, with strong indications that its value is poised to climb even higher. Making investment decisions...

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Private property rights under siege 

2024-03-01

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2024-03-01

People invest in gold for many different reasons. Many do so out of concern over economic, monetary or political uncertainty. Others seek a hedge against inflation, a way to protect and preserve the real purchasing power of their savings.

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Dollar Jumps

2024-02-28

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2024-02-28

Overview: A less hawkish Reserve Bank of New Zealand and a slightly softer than expected January CPI from Australia appears to have sparked a broad US dollar rally.

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The Top Swiss Law Firms for Fintech and Blockchain Practice

2024-02-22

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2024-02-22

Chambers and Partners, a legal research company, has released its Chambers Fintech 2024 guide, an annual report which recognizes the top fintech advisors and litigators worldwide. In this year’s Swiss edition, Chambers and Partners ranked MME Legal | Tax | Compliance, MLL Legal, Baer and Karrer, and Lenz and Staehelin as the top Swiss law firms in the fintech legal category, recognizing them for their expertise, diligence and customer service. MME...

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Quiet End to a Busy Week

2024-02-16

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2024-02-16

Overview:  The US dollar is winding down this week on a quiet note. Most of the G10 currencies are trading within yesterday's ranges. On the week, only the Scandis are set to close with gains, though with a little effort, the Australian dollar could too. The Japanese yen and Swiss franc are the laggards off 0.65%-0.75% this week. Most emerging market currencies outside of central Europe are firmer. The South African rand is the strongest this...

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New SNB Study Reveals Critical Role of Card Schemes and Banks in the Contactless Payment Usage

2024-01-12

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2024-01-12

Financial intermediaries, including card schemes and issuing banks, are playing a critical role in the use and promotion of new payment methods in Switzerland. A 2023 research by the Swiss National Bank (SNB) revealed that the rules and standards set by these intermediaries are impacting usage and frequency of contactless payments. The findings, shared in a new report titled “Consumer adoption and use of financial technology: “tap and go”...

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Holiday Moves Continue to be Unwound

2024-01-03

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2024-01-03

Overview: The dollar is firm. Rates are mostly higher and equities lower. The moves scored in the holiday-thin markets are at end of last year are being unwound. This does not appear complete yet. Geopolitical tensions remain high but do not seem to be having a direct market influence as both gold and oil are trading lower. Among the G10 currencies, sterling has been the most resilient today but nearly flat. Within the emerging market complex, the...

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Swiss-Backed CBDC Project Explored Feasibility of Cash-Like, Anonymous Digital Currency

2023-12-21

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2023-12-21

Project Tourbillon, an initiative led by the Bank for International Settlements (BIS) Innovation Hub Swiss Centre and supported by the Swiss National Bank (SNB), explored the feasibility of a retail central bank digital currency (CBDC), finding that it is possible to implement a CBDC design that provides anonymity to the payer and which is scalable and secure. In a new report released in November 2023, BIS shares details of the project, outlining...

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Markets Catch Collective Breath

2023-12-06

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2023-12-06

Overview: The US dollar is mixed today. The dollar-bloc currencies are firmer, while the euro and yen are softer. We had anticipated a recovery of the dollar on ideas that the market has too aggressively pushed down US rates, and pricing in more Fed easing with higher confidence than seems to be warranted by the recent data.  However, US rates have not recovered, but the dollar has.  Partly, this reflects that rates have fallen as faster if not...

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War is the health of the State

2023-11-22

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2023-11-22

Part I of II by Claudio Grass For any reasonably well read adult, any amateur student of history or any responsible citizen for that matter, the idea that ”war is the health of the State” should be adjacent to a truism. After all, literally nobody benefits from violence and bloodshed apart from those at the heart of any State that is directly or indirectly involved and their cronies. In fact, the more horrific the violence and the more...

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“Sound money must be anchored to and backed by real, tangible assets”

2023-11-16

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2023-11-16

Dani Stüssi interview with Claudio Grass Over the last few years, the financial woes and daily pressures that have been unleashed upon the average citizen, saver and taxpayer have put the spotlight on money itself. Countless ordinary people who have otherwise never seriously pondered these questions, began to question basic principles like: what makes their paycheck shrink from month to month, what or who actually responsible of it and what,...

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Food Prices Drive China’s CPI Lower while the Greenback is Mostly Firmer in Narrow Ranges

2023-11-09

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2023-11-09

Overview: The dollar is mostly firmer against the G10 currencies and has been confined to tight ranges through the European morning. Outside of the China's deflation and Japan's monthly portfolio flow data that showed Japanese investors bought the most amount of US Treasuries (~$22 bln) in six months in September, the news stream is light. Most emerging market currencies are trading with a softer bias today. The Philippine peso is the strongest...

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Swiss Banks Unlikely to Migrate to Blockchain, DLT Systems, Says SNB Advisor

2023-06-02

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2023-06-02

While some banks have started experimenting with blockchain and distributed ledger technology (DLT), widespread migration to these systems are unlikely to occur due to a number of roadblocks, including regulatory and compliance challenges, the high costs of the endeavor, as well as uncertainties about the long-term benefits and potential disruption of the technology on existing business models, Benjamin Müller, an advisor on banking operations for...

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Consolidative Session Marked by Weak Chinese Imports and White House Debt Ceiling Talks

2023-05-09

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2023-05-09

Overview: The market sentiment remains fragile. Equities are mostly lower. Japan was a notable exception, and concerns about China's economy after a sharp decline in imports took mainland and Hong Kong listed companies sharply lower. Europe's Stoxx 600 is giving back yesterday's 0.35% gain plus more. Bank shares are off 0.65% after rallying 4.20% over the past two sessions. US equity futures are heavier. Benchmark 10-year yields are mostly a couple...

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Bank Stress Hobbles the Dollar, while Dissents Make the 50 bp Hike by Sweden less than Hawkish

2023-04-26

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2023-04-26

Overview: The re-emergence of bank stress reverberated through the US markets yesterday, downgrading the perceived chances of a Fed hike next week and sending the US 2-year yield sharply lower. The yield settled 13 bp lower, the largest drop in three weeks. The risk-off sent the US dollar higher against most of the major and emerging market currencies. Follow-through US dollar gains today has been mostly limited to the Australian dollar, where...

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