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‘Some EU Banks May Be Vulnerable’ – ECB Tells Ministers ‘No Room For Complcency’
‘Some EU Banks May Be Vulnerable’ – ECB Tells Ministers ‘No Room For Complcency’ The world was saved there briefly overnight after SNB’s giant liquidity shot into CS. But it didn’t take long fort reality to sink in about the band-aid-like nature of this facility. However, the situation under the hood may in fact be […]
Swiss National Bank’s Monetary Racket, US Stock Holdings & the Wild Ride of its Own Shares
Swiss National Bank’s Monetary Racket, US Stock Holdings & the Wild Ride of its Own Shares We’ll also look at its garbage pile at the bottom. These folks don’t even pretend to be stock pickers. They buy and let it stick till it falls off on its own. The Swiss National Bank, which filed its […]
Yra Harris: “There Are Increasing Concerns Around The Globe That Central Bankers Do Not Have An Exit Strategy”
Yra Harris: “There Are Increasing Concerns Around The Globe That Central Bankers Do Not Have An Exit Strategy” Back in November, we brought to the attention of our readers a stunning admission from one of Citi’s head credit strategists, Hans Lorezen, who said matter-of -factly that during his conversations with central bankers, there was a […]
The Swiss National Bank Now Owns A Record $88 Billion In US Stocks
The Swiss National Bank Now Owns A Record $88 Billion In US Stocks In the third quarter of 2017, one in which the global economy was supposedly undergoing a unprecedented “coordinated growth spurt”, and in which central banks were preparing to unveil their QE tapering intentions, in the case of the ECB, or raising rates […]
Fed’s Asset Bubbles Now At The Mercy Of The Rest Of The World’s Central Bankers
Fed’s Asset Bubbles Now At The Mercy Of The Rest Of The World’s Central Bankers “Like watching paint dry,” is how The Fed describes the beginning of the end of its experiment with massively inflating its balance sheet to save the world. As former fund manager Richard Breslow notes, however, Yellen’s decision today means the […]
Can Switzerland Survive Today’s Assault on Cash and Sound Money?
Can Switzerland Survive Today’s Assault on Cash and Sound Money? “Switzerland will have the last word,” wrote Victor Hugo in the late 19th century. “It possesses one of the most perfect forms of government in the world.” A contemporary of his, Frederick Kuenzli, a scholar of the Swiss Army, boasted: “No purer type of Republican […]
Swiss National Bank’s U.S. Stock Holdings Hit A Record $63.4 Billion
Swiss National Bank’s U.S. Stock Holdings Hit A Record $63.4 Billion Being able to print your own money and buy stocks at any price sure can be fun. Just as the SNB which unlike many other (if ever fewer) central banks admits to doing just that. In its latest 13F filing, the Swiss National Bank reported […]
Time to Get Real: Part I
Time to Get Real: Part I In a world where fair value is a central bank veiled enigma it’s frankly a challenge to keep things real, but I’ll have a go at it in what will be a 3 part series covering central banks, the underlying fundamental picture, and a technical assessment of charts. In this part I’ll be covering […]
China “Loses Battle Over Yuan”, And Now The Global Currency War Begins
China “Loses Battle Over Yuan”, And Now The Global Currency War Begins Almost exactly seven months ago, on January 15, the Swiss National Bank shocked the world when it admitted defeat in a long-standing war to keep the Swiss Franc artificially weak, and after a desperate 3 year-long gamble, which included loading up the SNB’s balance […]
The Swiss National Bank Bought Another 500,000 AAPL Shares Just Before 10% Correction
The Swiss National Bank Bought Another 500,000 AAPL Shares Just Before 10% Correction Three months ago we were stunned to learn, and report, that the Swiss National Bank – a central bank – had been one of the biggest buyers of AAPL stock in the first quarter, when it added 3.3 million shares to its existing […]
Reckless Stock-Market Leverage Intoxicates Politicians
Reckless Stock-Market Leverage Intoxicates Politicians The sudden bloodletting that leveraged currency speculators experienced when the Swiss National Bank yanked the cap on the franc should have been a warning: central-bank promises that everything is under control are meaningless. And because of leverage, innumerable trading accounts blew up in a matter of moments. Leverage acts like […]
From Keynesian Shangri-La To Outright War
From Keynesian Shangri-La To Outright War Over the last few weeks drum beats could be heard signalling the coming of troops from abroad to lay waste to any foe ahead of them. However, unlike what we first conjure up as troops from an opposing force made up of men and weapons. This battlefield is being waged […]
Are Central Bankers Losing The Plot: “The SNB Move Signals A Spectacular Loss Of Nerve”
Are Central Bankers Losing The Plot: “The SNB Move Signals A Spectacular Loss Of Nerve” As we have reiterated very frequently over recent years, the biggest vulnerability in the post crisis environment was that central banks start to make policy errors, by taking activist and precipitous decisions. Thus following on from last year’s error by Norges […]
Macro Digest: Endgame for central bankers
Macro Digest: Endgame for central bankers The Swiss National Bank’s removal of the franc’s peg to the euro last week had far-reaching consequences because we were all taken by surprise. The fact that it would (and should) happen eventually was not lost on the market, but the SNB was as late as last week end […]
Swiss National Bank scraps euro cap
Swiss National Bank scraps euro cap (Reuters) – The Swiss National Bank unexpectedly scrapped its cap on the franc on Thursday, sending the safe-haven currency crashing through the 1.20 per euro limit it set more than three years ago. Minutes after the announcement the franc had soared by almost 30 percent in value against the […]
