Tag Archive: Switzerland

Jim Grant: “Markets Trust Too Much In The Presence Of Central Banks”

James Grant, Wall Street expert and editor of the renowned investment newsletter «Grant’s Interest Rate Observer», warns of the unseen consequences of super low interest rate and questions the extraordinary actions of the Swiss National Bank. Nearly ten years after the financial crisis, extraordinary monetary policy has become the norm.

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Year-end Rate Hike Once Again Proves To Be Launchpad For Gold Price

Year-end rate hike once again proves to be launchpad for gold price. FOMC follows through on much anticipated rate-hike of 0.25%. Spot gold responds by heading for biggest gain in three weeks, rising by over 1%. Final meeting for Federal Reserve Chair Janet Yellen. Yellen does not expect Trump's tax-cut package to result in significant, strong growth for US economy. No concern for bitcoin which 'plays a very small role in the payment system'.

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49 Countries Have Violated Sanctions On North Korea

A new report from the Institute for Science and International Security has found that 49 countries violated sanctions on North Korea to varying degrees between March 2014 and September 2017. 13 governments including Cuba, Egypt, Iran and Syria were involved in military violations, which as Statista's Martin Armstrong notes, includes either receiving military training from North Korea or being involved in the import and export of military equipment.

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

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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Frustrated Investors File Lawsuits Against World’s Largest ICO

ere's the latest sign that the massively fraudulent ICO market is headed for a collapse. Tezos’s investors are still waiting to learn when they can expect to receive the digital tokens that they paid a premium for during the company’s record-setting crowdsale. But as reports of abuse, internal strife and outright embezzlement have surfaced in the press, three groups of angry investors have filed class action lawsuits accusing the company of fraud...

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What Gives Cryptocurrencies Their Value

The value of cryptocurrencies like bitcoin, just like any other kind of money, comes fundamentally from what you can do with it. As a follow up to What Backs Bitcoin, I want to dig into that value. The idea, which comes from Austrian economist Carl Menger, is that just as a shovel’s value comes from its ability to dig, a currency’s value comes from its ability to help you do two things: transactions and savings.

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Bitcoin Tops $10,100 – Fed’s Powell Says “Cryptocurrencies Just Don’t Matter”

Update: Cryptocurrencies are widely bid tonight with Bitcoin over $10,150, Ether holding $475, and LiteCoin topping $100 for the first time. Bitcoin has now soared over 20% since Black Friday's close, topping $10,000 for the first time in history (rising from $9,000 in just 2 days)... now up over 950% year-to-date.

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Demographic Dysphoria: Swiss Village Offers Families Over $70,000 To Live There

Across the world, demographic dysphoria is taking shape, creating numerous headaches for governments. To avoid the next economic downturn, governments are searching for creative measures to increase population growth and deliver a sustainable economy. In Europe, a near decade of excessive monetary policy coupled with a massive influx of refugees have not been able to reverse negative population growth– first spotted in 2012.

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New Gold-Backed Debit Card Launched In Partnership With MasterCard

In recent years, there has been a major debate about the respective merits of gold versus Bitcoin, even though many, not all, gold bulls are also supporters of the latter. Gold advocates generally view favourably Bitcoin’s inherent characteristics of decentralisation, finite supply and ability to operate (so far) outside of the usual interference by western central banks.

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For The First Time Ever, The “1 percent” Own More Than Half The World’s Wealth: The Stunning Chart

Today Credit Suisse released its latest annual global wealth report, which traditionally lays out what has become the single biggest reason for the recent "anti-establishment" revulsion: an unprecedented concentration of wealth among a handful of people, as shown in Swiss bank's infamous global wealth pyramid, an arrangement which as observed by the "shocking" political backlash of the past year, suggests that the lower 'levels' of the pyramid are...

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SNB: It’s A Bonfire Of The Absurdities

This week’s letter will take a look at the growing number of ridiculous, inane, and otherwise nonsensical absurdities that fill the daily economic headlines. I have gone from the occasional smile to scratching my head now and then to “WTF” moments several times a week.

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Deepening Crisis In Hyper-inflationary Venezuela and Zimbabwe Show Why Physical Gold Is Ultimate Protection

Deepening Crisis In Hyper-inflationary Venezuela and Zimbabwe. Real inflation in Zimbabwe is 313 percent annually and 112 percent on a monthly basis. Venezuela's new 100,000-bolivar note is worth less oday thehan USD 2.50. Maduro announces plans to eliminate all physical cash. Gold rises in response to ongoing crises.

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If American Federalism Were Like Swiss Federalism, There Would Be 1,300 States

In a recent interview with Mises Weekends, Claudio Grass examined some of the advantages of the Swiss political system, and how highly decentralized politics can bring with it great economic prosperity, more political stability, and a greater respect for property rights. Since the Swiss political system of federalism is itself partially inspired by 19th-century American federalism, the average American can usually imagine in broad terms what the...

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When Health Insurance Works: A Look Inside Switzerland’s Healthcare System

The enigmatic independence of Switzerland is perhaps best demonstrated in the fact that its healthcare system manages to satisfy both free marketers and the statist-socialists in the country. It is a giant social safety net woven by individual responsibility and self-made wealth. Health insurance is almost entirely consumer-based, though there are strict cantonal regulations and some governing federal laws.

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The World’s Largest ICO Is Imploding After Just 3 Months

Earlier this summer, Tezos smashed existing sales records in the white-hot IPO market after the company’s pitch to build a better blockchain for cryptocurrencies made it one of the buzziest ICOs in the world. As we noted at the time, the company capitalized on that buzz by courting VC firms and other institutional investors with a $50 million token pre-sale. After the company opened up selling to the broader public, demand soared as investors...

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A Look Inside The Secret Swiss Bunker Where The Ultra Rich Hide Their Bitcoins

Somewhere in the mountains near Switzerland’s Lake Lucerne lies a hidden underground vault containing a vast fortune. It’s no ordinary vault, according to Quartz. Built inside a decommissioned Swiss military bunker dug into a granite mountain, it’s precise location is a closely guarded secret, and access is limited by myriad security precautions.

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Swiss Flush $3 Million In Gold And Silver Down The Drain Every Year

When it comes to flushing valuables down the toilet, the Swiss are hardly "Austrians", and appear to be equity-opportunity dumpers, whether it is fiat or hard money. Last month we reported that Switzerland was gripped in a mystery, after it was discovered that someone tried to flush $120,000 in €500 bills down the toilet in a bathroom close to a UBS bank vault as well as three nearby restaurants, which in turn clogged the local toilets requiring...

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“This May Be The End Of Europe As We Know It”: The Pension Storm Is Coming

I’ve written a lot about US public pension funds lately. Many of them are underfunded and will never be able to pay workers the promised benefits - at least without dumping a huge and unwelcome bill on taxpayers. And since taxpayers are generally voters, it’s not at all clear they will pay that bill. Readers outside the US might have felt safe reading those stories. There go those Americans again… However, if you live outside the US, your country...

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Why Small States Are Better

Andreas Marquart and Philipp Bagus (see their mises.org author pages here and here) were recently interviewed about their new book by the Austrian Economics Center. Unfortunately for English-language readers, the book is only available in German. Nevertheless, the interview offers some valuable insights.

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Switzerland Tops World’s Most Competitive Countries Index (Yemen Least)

Something else 'Murica is no longer #1 in... A recently released World Economic Forum report has found that the global economy is recovering well nearly a decade on from the start of the global financial crisis with GDP growth hitting 3.5 percent in 2017. The eurozone in particular is regaining traction with 1.9 percent growth expected this year. As Statista's Niall McCarthy points out, the improvement in Europe's economic fortunes can be seen in...

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