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Tag Archives: newslettersent

“Vollgeld – Was spricht dagegen? (Sovereign Money—What are the Problems?),” RABE, 2018

Vollgeld-Initiative: Warum sie gefährlich ist Die Vollgeld-Initiative will die Schweizer Geldpolitik komplett umkrempeln. Künftig soll nur noch die Nationalbank Geld herstellen dürfen, sowohl Banknoten und Münzen als auch das elektronische Geld. Die Schweizer Geschäftsbanken wie die UBS oder die CS, die heute 90% des elektronischen Geldes herstellen, soll das künftig verboten sein. Die Vollgeld-KritikerInnen warnen von...

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BNS, Initiative Monnaie Pleine veut lui donner les pleins pouvoirs

- Click to enlarge «Monnaie pleine», la révolution bancaire L’initiative «Monnaie pleine», qui sera soumise au peuple le 10 juin prochain, entend radicalement transformer le système bancaire suisse. Si elle est acceptée, la BNS obtiendrait les pleins pouvoirs. Décryptage des risques et des enjeux L’initiative «Monnaie pleine», sur laquelle le peuple sera appelé à se prononcer le 10 juin prochain, demande que...

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La question de Monnaie pleine induit-elle le votant en erreur?

Le peuple suisse doit, le 10 juin 2018, répondre  à cette question: « Acceptez-vous l’initiative populaire « Pour une monnaie à l’abri des crises : émission monétaire uniquement par la Banque nationale ! (Initiative Monnaie pleine) » ? » Le oui à la question sous-entend que ce concept monétaire garantit la monnaie suisse et les avoirs bancaires d’une part, et d’autre part que l’ensemble des avoirs bancaires relèvent...

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Europe chart of the week – SNB FX intervention

Despite tensions since the beginning of the year, there is no evidence of FX market interventions by the Swiss central bank. SNB FX Intervention In the wake of the financial crisis, the Swiss National Bank (SNB) increased massively the monetary base to provide liquidity and limit the Swiss franc’s appreciation. The expansion in the monetary base can essentially be seen in the form of an increase in sight deposits held...

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SNB-Jordan verkündet Kommunistisches – und lädt zum Gratis-Buffet

- Click to enlarge Es geht um die Sache und Institution – nicht um eine Person. Die Schweizerische Nationalbank (SNB) und ihr Chef Thomas Jordan sind aber mittlerweile dermassen eng miteinander verflochten, dass eine getrennte Beurteilung gar nicht mehr möglich ist. Thomas Jordan ist zum Gesicht der SNB und diese eine „One-Man-Show“ geworden. Man kann Thomas Jordan sogar zum Gesicht der Schweiz erküren. Er...

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Swiss National Bank buys paper factory for banknote production

To guarantee the smooth roll-out of its new banknote series, the Swiss National Bank (SNB) has bought a struggling paper factory in eastern Switzerland. The takeover of Landqart AG, valued at CHF21.5 million ($21.7 million), is split between the SNB (90%) and the security printing division of Swiss publisher Orell Füssli (10%). + Switzerland is rolling out a new series of banknotes with numerous security features...

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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. The financial markets seem to like it: Stocks are close to record levels...

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The Latte Index: Using The Impartial Bean To Value Currencies

Like any other market, there are many opinions on what a currency ought to be worth relative to others. With certain currencies, that spectrum of opinions is fairly narrow. As an example, for the world’s most traded currency – the U.S. dollar – the majority of opinions currently fall in a range from the dollar being 2% to 11% overvalued, according to organizations such as the Council of Foreign Relations, the Bank of...

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SNB: It’s A Bonfire Of The Absurdities

Authored by John Mauldin via MauldinEconomics.com, “Vanity of vanities, saith the Preacher, vanity of vanities; all is vanity.” – Ecclesiastes 1:2, King James Version (attributed to King Solomon in his old age) 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...

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Swiss industry has learned to live with strong franc

An employee of MAN Diesel & Turbo Switzerland grinds turbine blades of a turbo compressor in Zurich in 2015 (Keystone) - Click to enlarge The recent appreciation of the Swiss franc has sent shockwaves through Swiss firms, resulting in job losses and lower research budgets. But viewed long-term, Switzerland’s export-driven economy has adapted remarkably well to a strong currency. This is the overall...

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