I never wanted to get to this point, but I'm finally here: There is no one in a position of real power in DC, London, Paris etc that is not a satan worshiping pedophile.
Also, the housing chart! The biggest housing bubble in history that nearly brought down the system appears as a blip on the graph. We are likely to get a crazy down day, 10, 15, 20%, in gold, but that chart! Never sell your gold.
the country and its central bank SNB are caught yet again in a valuation spiral with nary an escape hatch left. The "safe haven" currency aspect might break its productive industry, making its export prices uncompetitive the more the USD depreciates against CHF.
And we're not just talking chocolate (as most will think immediately), it's medical equipment / pharmaceuticals and high precision instruments and the like as a main export. I'd expect a follow-through on medical costs abroad in new drugs - "established" drugs are exempted and duty-free thanks to the Trump Tariff Hammer (which exempted current pharma imports). Imagine what a newly approved drug might be increased to even out that deal.
In general for CHF appreciation vs USD/EUR, we could see what happened thanks to zero rate insanity for 10 years following the "great" financial crisis with SNB sitting at -0.75% peak "interest rate"; which in itself should be a crime since a "negative interest" not only is a monetary abomination, it destroys the value of money itself on the altar of debt-fueled M2 expansion, since it renders owning it negative and lending it is turned positive, turning on its head the concept of an "interest" rate itself. Why own when you can lend and pay back less? That is turbo QE in a nutshell (and paving the way to hyperinflation on the long run). The state escapes the clutches of its own indebtedness, while the saver carries the bags.
Gold is telling the story in its own way, as is the CPI (the other way) - which is why your chart last week was so apt (and funny & sad).
1. the population of both is tiny. 800k for Montana, 500k for Wyoming (yes, the whole state), so it's not going to take much to move the % needle
2. there are some areas of both that are basically completely owned by the bazillionaires (mostly around yellowstone). so figure the usual 20% of "normal" housing stock is owned by non-resident owners and then a HUGE percentage of million dollar (plus) houses are owned by people who fly into Jackson Hole 3 weekends a year.
combine those two and it's easy to see what's happening. Aspen, Colorado for example is all non-resident owned (or by some LLC for some bazillionaire), but those 10,000 people disappear into the 5 million population. In Wyoming, those 5000 houses in Jackson Hole have a HUGE impact on the state's percentage.
one more thought, LOTS of ranches and farms are owned in a corporation (family or not) name rather than person, and again with the population being small, it makes an outsized difference.
Ya. Good points. I really should have figured that out. One of my kids was a property manager at Yellowstone Club for 5 years. Some of the 10k+ homes he managed got used a half dozen times per year. Crazy stories he’s got about the ultra rich.
When the € was implemented in 2002, a Swiss Citizen had to spend 1.65 CHF to buy 1 €. That's collapsed to 0.918 as I write. No illusions, Switzerland knows Inflation as well as all Fiat currencies and since 2015, when the SNB surrendered, no longer defending the 1.20 Ratio you can call them a Bad Bank. Still so much more solid then these other currencies. The true one-eyed King in the room.
I never wanted to get to this point, but I'm finally here: There is no one in a position of real power in DC, London, Paris etc that is not a satan worshiping pedophile.
As always, appreciate the curation.
Now we know who "they" are: it's Michelle Smith!
Also, the housing chart! The biggest housing bubble in history that nearly brought down the system appears as a blip on the graph. We are likely to get a crazy down day, 10, 15, 20%, in gold, but that chart! Never sell your gold.
Latching on to the part on "Switzerland":
the country and its central bank SNB are caught yet again in a valuation spiral with nary an escape hatch left. The "safe haven" currency aspect might break its productive industry, making its export prices uncompetitive the more the USD depreciates against CHF.
And we're not just talking chocolate (as most will think immediately), it's medical equipment / pharmaceuticals and high precision instruments and the like as a main export. I'd expect a follow-through on medical costs abroad in new drugs - "established" drugs are exempted and duty-free thanks to the Trump Tariff Hammer (which exempted current pharma imports). Imagine what a newly approved drug might be increased to even out that deal.
In general for CHF appreciation vs USD/EUR, we could see what happened thanks to zero rate insanity for 10 years following the "great" financial crisis with SNB sitting at -0.75% peak "interest rate"; which in itself should be a crime since a "negative interest" not only is a monetary abomination, it destroys the value of money itself on the altar of debt-fueled M2 expansion, since it renders owning it negative and lending it is turned positive, turning on its head the concept of an "interest" rate itself. Why own when you can lend and pay back less? That is turbo QE in a nutshell (and paving the way to hyperinflation on the long run). The state escapes the clutches of its own indebtedness, while the saver carries the bags.
Gold is telling the story in its own way, as is the CPI (the other way) - which is why your chart last week was so apt (and funny & sad).
How is it, that two of the most inhospitable states in the U.S. in the winter, have the highest percentage of investor owned homes?
This question may bother me for the rest of my life.
2 things I think
1. the population of both is tiny. 800k for Montana, 500k for Wyoming (yes, the whole state), so it's not going to take much to move the % needle
2. there are some areas of both that are basically completely owned by the bazillionaires (mostly around yellowstone). so figure the usual 20% of "normal" housing stock is owned by non-resident owners and then a HUGE percentage of million dollar (plus) houses are owned by people who fly into Jackson Hole 3 weekends a year.
combine those two and it's easy to see what's happening. Aspen, Colorado for example is all non-resident owned (or by some LLC for some bazillionaire), but those 10,000 people disappear into the 5 million population. In Wyoming, those 5000 houses in Jackson Hole have a HUGE impact on the state's percentage.
one more thought, LOTS of ranches and farms are owned in a corporation (family or not) name rather than person, and again with the population being small, it makes an outsized difference.
Ya. Good points. I really should have figured that out. One of my kids was a property manager at Yellowstone Club for 5 years. Some of the 10k+ homes he managed got used a half dozen times per year. Crazy stories he’s got about the ultra rich.
Re CHF:
When the € was implemented in 2002, a Swiss Citizen had to spend 1.65 CHF to buy 1 €. That's collapsed to 0.918 as I write. No illusions, Switzerland knows Inflation as well as all Fiat currencies and since 2015, when the SNB surrendered, no longer defending the 1.20 Ratio you can call them a Bad Bank. Still so much more solid then these other currencies. The true one-eyed King in the room.
official figures from the People’s Bank of China, which appears to under-report totals:”
I fixed this:
Which appears to totally under-report their purchases...
What's the odds that Trump bombs Iran this weekend to divert attention from the fiasco of the Melania documentary?
Bankers used to say that companies didn't go bankrupt, they ran out of cash. They have really buried that inconvenient saying.