The decision to serve only pork-free lunches in several schools in Basel Canton, Switzerland, has been blasted by the country’s conservatives, who accuse local authorities of giving in to religious minorities.
Four schools in the Binningen district of Basel Canton won’t have pork on their menu in the next academic year, the local council ruled last week.
But the decision was strongly condemned by the conservative Swiss People’s Party (SVP), which argued that pork sausages were an integral part of Switzerland’s cuisine and culture.
“We are outraged. When we first heard [about it] we thought we weren’t reading it right,” Susanna Keller, Swiss People’s Party representative, is cited by Basellandschaftliche Zeitung paper. Continue reading »
– Migrant rape fears spread across Europe: Women told not to go out at night alone after assaults carried out in Sweden, Finland, Germany, Austria and Switzerland amid warnings gangs are co-ordinating attacks
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Resentment toward the EU hit a new high yesterday when the upper house of the Swiss parliament on Wednesday followed in the footsteps of Iceland, and voted to invalidate its 1992 application to join the European Union, backing an earlier decision by the lower house. The vote comes just a week before Britain decides whether to leave the EU in a referendum. Twenty-seven members of the upper house, the Council of States, voted to cancel Switzerland’s longstanding EU application, versus just 13 senators against. Two abstained the Neue Zürcher Zeitung reported.
Thomas Minder, counsellor for the state of Schaffhausen and an active promoter of the concept of “Swissness,” said he was eager to “close the topic fast and painlessly” as only “a few lunatics” may want to join the EU now, he told the newspaper. Continue reading »
Yesterday, DB’s credit strategist Jim Reid (whose bank just hit a new record low stock price earlier this morning), said that “If One Wanted A Simple Indicator Of A Broken Financial System, Then This Is It”, and proceeded to show the chart of the 10 Year Bund yield, which is now well in the negative territory. Today Reid, in his quest to show how broken the global “market” has become as a result of relentless central bank tinkering, and has come up with what he believes is an even better example.
This is what he said: Continue reading »
Attended by Europe’s most powerful people, the opening ceremony of the Gotthard Base Tunnel in Switzerland was a dark, disturbing, weirdly satanic ritual. Here’s a look at another celebration of the occult elite.
Measuring over 57 km and costing over 11 billion Euros, the Gotthard Base Tunnel is world’s longest and most expensive tunneling project in History. Going through the Swiss Alps, the tunnel took 17 years to complete and is said to be a symbol of European unification in a context of rising nationalism and closing borders.
To celebrate the inauguration of this tunnel, an elaborate ceremony was presented in front of European dignitaries such as Chancellor Angela Merkel of Germany, President Francois Hollande of France and Italian Prime Minister Matteo Renzi. While most would expect an up-beat, celebratory ceremony, guests were rather treated to a disturbing show orchestrated by German director Volker Hesse, where a man dressed as a goat presided a strange ritual. Continue reading »
This weekend the Swiss population was called upon to make a historic decision, when Switzerland became the first country worldwide to put the idea of free money for everyone, technically known as Unconditional Basic Income (of CHF2,500 per month for every adult man and woman, and CHF625 for every child, for doing absolutely nothing) to a vote.
As reported previously, the outcome of this referendum would set a strong precedent and establish a landmark in the evolution of the debate of handing out free money in a centrally-planned world. And as predicted, based on early vote projections it has been a landslide decision against the “free lunch.”
Will the Swiss Guarantee CHF 75,000 for Every Family?
In early June the Swiss will be called upon to make a historic decision. Switzerland is the first country worldwide to put the idea of an Unconditional Basic Income (of $2,500 per month for every man, woman, and child for doing absolutely nothing) to a vote and the outcome of this referendum will set a strong precedent and establish a landmark in the evolution of this debate.
The Swiss public will have to approve or reject a change in the constitution that would allow for the introduction of an Unconditional Basic Income (UBI), or a preset, monthly minimum income to be paid out by the government to every adult and child in the country if their income falls below a specific threshold. Even though details of this proposal have been few and far between, the most commonly cited amount of this guaranteed income would be 2,500 Swiss Francs for adults and 625 francs for children. The architects of the proposal stress that this government-guaranteed payment, unlike the current benefit programs, will be entirely “no questions asked”, i.e., it will not be means-tested and will apply to every person legally living in Switzerland.
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As Icahn was selling, or just before as we don’t know precisely when Icahn, who has since indicated he has turned massively bearish on the overall market, one entity was buying every AAPL share it could find. In fact, according to its latest 13F, everyone’s favorite central bank that openly admits it is also a wholesale buyer of stocks (with a portfolio of some $100 billion), the Swiss National Bank reveals that in Q1 it bought another 4.1 million in AAPL shares, bringing its total to a record 14.5 milion shares.
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Switzerland’s intelligence service has been keeping an eye on the social media activity of around 400 people potentially linked to jihadists who could pose a threat to national security, Swiss authorities reported on Monday.
Although Switzerland is less likely to be targeted by Islamic State (IS, formerly ISIS/ISIL) or other militant groups since it is not engaged in any military operations against them, its government still stepped up security measures to counter possible attacks, especially in the wake of deadly terror acts carried out in neighboring France and Belgium, the Swiss Federal Intelligence Service (NDB) annual report said. Continue reading »
But now, in response to Balkan countries closing down traditional migrant routes to Europe, Switzerland’s military is taking steps to prepare for a potential new wave of immigrants in case it becomes part of a new route.
As such, Switzerland has put together a formal emergency preparedness plan, which outlines three scenarios, one of which would call for military intervention. Continue reading »
By now it is common knowledge that when it comes to massive, taxpayer-backed hedge funds, few are quite as big as the Swiss National Bank, whose roughly $100 billion in equity holdings have been extensively profiled on these pages, including its woefully investments in Valeant and the spike in its buying of AAPL stock at its all time high.
But while the SNB’s stock holdings are updated every quarter courtesy of its informative SEC-filed 13F (we wish the Fed would also disclose the equities it holds courtesy of its Citadel proxy), getting a gllimpse of the flow is more problematic, and involves waiting for the hedge fund’s, pardon central bank’s annual report. Continue reading »
21/03/2016 – BELLINZONA, Switzerland – Islamic State Supporters Sentenced
Four Iraqis were on trial for helping plan attacks in Europe for the Islamic state. Three were sentenced to several years in jail and one was acquitted due to lack of evidence. The three migrants were said to have tried to obtain information and materials to carry out terror operations on behalf of ISIS reports N-tv.de.
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Two weeks ago, shortly before noting that Venezuela’s CDS is now at the same level where Greece was 3 months before its default, we wrote that as a result of a recently implemented gold swap with Deutsche Bank, Venezuela was preparing to liquidate its remaining gold holdings (ostensibly temporarily, if only on paper) in order to pay down its upcoming debt maturities.
As it turns out Venezuela has already started moving much of its gold reserve to Europe where it will be located closer to swap-provider and ultimate custodian, and liquidator, Deutsche Bank, by way of Switzerland. According to BullionStar, Switzerland has imported a net of 35.8 tonnes of gold from Venezuela in January 2016.
And so, the gold which deceased Venezuela leade Hugo Chavez so painstakingly tried to collect from Europe, is just a few short years later, about to make its way back to where it came from. Continue reading »
As we predicted over a year ago, in a world in which QE has failed, and in which the ice-cold grip of NIRP has to be global in order to achieve its intended purpose of forcing savers around the world to spend the taxed product of their labor, one thing has to be abolished: cash.
This explains the recent flurry of articles in outlets such as BBG and the FT, and op-eds by such “established” economists as Larry Summers, all advocating the death of cash, a process which would begin by abolishing high denomination bills and continue until all physical cash in circulation is eliminated, something we warned about when the first made it first NIRP hint last September. Continue reading »
If your place has been fumigated with sulfuryl fluoride or its other toxic friends …
Methyl bromide was among the most widely used fumigants until its production and use was restricted by the Montreal Protocol due to its role in ozone depletion.
Widely used fumigants include:
- methyl isocyanate
- hydrogen cyanide
- sulfuryl fluoride
… you better consider moving to another place, or you and your family will get sick, which sometimes takes a while, but it’s not worth waiting for it to happen.
Oh, and these bastards are not spraying to prevent the Zika virus from spreading, they are spraying you, the people, like bugs!
Maybe they want to spray and force vaccinate the entire world, who knows?
– The Zika Virus Hoax Exposed, “Thanks” To The Associated Press (AP): Of The 4,180 Suspected Microcephaly Cases Only 270 Could Be Confirmed And Of Those 270 Cases Only 6 Cases Were Confirmed To Have The Zika Virus. SIX CASES!!!
“Okay, boys, here’s what we do. We’ve got this old virus called Zika. It’s been around for 60 years that we know of. It never caused anything serious. A real dud. But we’ve got to explain all these babies born with small heads and brain damage. We’ve got to protect some important people and shield them from heavy blame. So let’s bring back Zika. Even though very few mothers who give birth to babies with defects have the dud-virus, we can finesse that. People are idiots. So let’s build up Zika into a terrifying killer. Get our PR folks moving. Spread some money around. You know, the usual. And we make out on the back-end with a Zika vaccine.”
And somebody just unleashed the corporate media … (See all those articles down below.)
Massive cleaning operation at landmark Sambadrome comes as health minister admits country is “badly losing” war against the virus
Concerns over the Zika virus reached new heights on Tuesday after Brazil sent fumigators into Rio de Janeiro’s world-famous carnival venue that will help host the Olympic games amid intensified efforts to control the mosquito-borne infection. Continue reading »
Switzerland says it will introduce legislation which will force refugees to hand over cash and valuables to the authorities to help pay for their upkeep. The move by the Swiss follows a similar plan implemented by Denmark.
Refugees arriving in the Alpine nation will have to turn over any assets they possess which are worth more than 1,000 Swiss francs ($997).
“If you have property worth more than 1,000 Swiss francs when you arrive at a reception center you are required to give up these financial assets in return for a receipt,” an information sheet for refugees states, as cited by Reuters. Continue reading »
Switzerland is famous for being punctual.
The trains. The buses. The meticulously crafted, hand polished luxury watches.
The Swiss are so culturally punctual that they even tend to pay their taxes well in advance of the filing deadline.
So it was quite a shock to hear this morning that the Swiss canton of Zug is asking its citizens to delay paying their taxes for as long as possible. Continue reading »
With a new wave of terrorism, mass shootings and unprecedented social violence around the globe now a part of the daily routine for billions of people across both developed and developing nations, one group wants to be certain there is no chance of “close encounters”, violent or otherwise, with the peasantry during its upcoming annual boondoggle at the World Economic Forum in Davos. According to Swissinfo, when the world’s billionaires land their private jets in the gorgeous Swiss town (which at 1,560 m is also the highest town in Europe) on January 20, they will have up to 5,000 Swiss army troops protecting them.
As a result, the Swiss army has begun on-site preparations for the annual World Economic Forum (WEF) meeting in Davos. Continue reading »
It would appear the people of Switzerland have been listening to their military leaders. Having recently been warned by the Swiss army chief of growing social unrest, SwissInfo reports applications for gun permits in Switzerland increased by 20% between 2014 and 2015, according to a survey conducted in 12 cantons. But while the army proposes “arm yourselves,” Swiss crime prevention officials warn against the false sense of security that guns bring.
Whereas in 2011 numerous people in Switzerland voluntarily gave up their firearms, today more and more people are purchasing guns.
Swiss army chief André Blattmann warned, “The threat of terror is rising, hybrid wars are being fought around the globe; the economic outlook is gloomy and the resulting migration flows of displaced persons and refugees have assumed unforeseen dimensions,” adding that “Social unrest can not be ruled out.”
He further recalled the situation around the two world wars in the last century and advised the people of Switzerland to arm themselves…
On Christmas Day, 2015, we told our readers the fascinating tale about the Turkish-Iranian gold smuggling ring – perhaps the biggest and most brazen in history, one which lasted for years, which saw billions in gold transported out of Turkey and into Iran to allow Tehran to circumvent the western financial sanctions using gold as a medium for bater, and which was all made possible thanks to the tiny Emirate of Dubai.
What made this particular instance of gold smuggling especially memorable is that it reached to the very political top in both Turkey, and Iran, and Dubai. Continue reading »
Swiss army chief André Blattmann warned, in a Swiss newspaper article on Sunday, the risks of social unrest in Europe are soaring. Recalling the experience of 1939/1945, Blattman fears the increasing aggression in public discourse is an explosively hazardous situation, and advises the Swiss people to arm themselves and warns that the basis for Swiss prosperity is “being called into question.”
Back in September in “How Mario Draghi Can Force The Swiss National Bank To Go ‘Nuclear On Depositors,” we discussed the implications of the ECB’s (likely) decision to plunge further into NIRP-dom at the bank’s December meeting.
In short, DM central banks – with the possible exception of the Fed which is about to create a rather meaningful policy divergence with its core CB brethren – are in a proverbial race to bottom. It’s a beggar-thy-neighbor monetary policy regime and the more stubborn inflation expectations prove to be, the more aggressive the tit-for-tat easing, as everyone involved scrambles to protect their currency in the face of incessant competitive devaluations on all sides.
As we outlined in great detail in the post linked above, the ECB’s ultra dovish lean has the potential to create a lot of problems for the Riksbank, the Norges Bank, and the SNB. Continue reading »
– 1000s Of Political Figures Are Stashing Cash In Swiss Accounts, Foreign Ministry Admits (ZeroHedge, Aug 26, 2015):
In spite of all the attention the nation has received in recent years, SCMP reports that thousands of so-called “politically exposed persons”, or PEPs – a category that includes heads of state and other top officials – hold Swiss bank accounts, a Swiss foreign ministry official said. But, perhaps not for much longer as Bern aims to finalize a law aimed at simplifying the process of freezing and unblocking such funds.
“The future is unknown and we are not dealing with markets that are free markets anymore…now we have government interventions everywhere. [But] in the last say twelve months, I have observed an increasing number of academics who are questioning monetary policies. That’s why I think they will take the gold away and go back to some gold standard by revaluing the gold say from now $1000/oz to say $10,000 dollars. An individual should definitely own some physical gold. The bigger question is where should he store it? because… the failure of monetary policies will not be admitted by the professors that are at central banks, they will then go and blame someone else for it and then an easy target would be to blame it on people that own physical gold because – they can argue – well these are the ones that do take money out of circulation and then the velocity of money goes down – we have to take it away from them… That has happened in 1933 in the US.”
Dr Marc Faber was born in Zurich, Switzerland. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Dr Faber publishes a widely read monthly investment newsletter “The Gloom Boom & Doom Report” report which highlights unusual investment opportunities, and is the author of several books including “ TOMORROW’S GOLD – Asia’s Age of Discovery”.
– “They’ll Blame Physical Gold Holders For The Failure Of Monetary Policies” Marc Faber Explains Everything (Marcopolis, Aug 7, 2015):
Interview with Marc Faber, Editor and Publisher of “The Gloom, Boom & Doom Report’”
In this exclusive interview with Marcopolis.net Marc Faber covers it all: from commodities and China to the outlook on inflation, the Euro and gold. According to him the global economy is not healing. To the contrary, we might find ourselves back into recession within six months or a year. In that case he expects more money printing by central banks, which eventually could lead to high inflation rates and renewed strength in commodity prices.
On the bright side, he sees great economic potential in Vietnam. Also, the Iraqi stock market has good potential now that a deal with Iran has been reached. While mining stocks are extremely depressed we might see defaults before any meaningful recovery.
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In your 2002 book “Tomorrow’s gold” you identified two major investment themes: emerging markets along with commodities. That was a great call. As for commodities, they had a great run up until 2008. Then they crashed sharply along with everything else just to recover strongly into 2011. Since then they have acted weakly, and recently commodities even reached a 13-years low. Is this the end of the commodities-super-cycle, as some have claimed, or is it more like a correction? Continue reading »
– Swiss Supermarkets Stop Sales of Glyphosate over Health Concerns (Sustainable Pulse, June 3, 2015):
Swiss supermarket giants Coop and Migros have announced that they will no longer sell products that contain glyphosate, following the World Health Organization’s report stating that glyphosate is a probable human carcinogen. They have also announced that they will be exploring non-toxic alternative weed-killers.
Coop stated last week that “Even if the (Swiss) Federal Office for Agriculture (BLW) judges glyphosate can be continued to be sold without a health hazard for the population, we decided on Monday 18th May to no longer sell any glyphosate-based products in Coop supermarkets and Coop Building & Hobby hardware stores.” It is a preventive measure. “…we don’t sell the concentrate, but only a very diluted form, the ready-made products. These concentrations are up to 48 times lower than the range used in agricultural products.”
– Silent Circle shifts to Switzerland to bypass US surveillance (RT, May 26, 2015):
As US mass surveillance continues to make headlines, one man has had enough. Philip Zimmermann, creator of one of the most widely-used encryption systems, has moved his company to Switzerland, claiming societies need to “roll back” surveillance tactics.
Expressing his concerns about mass surveillance, Zimmerman told the Guardian that “every dystopian society has excessive surveillance, but now we see even Western democracies like the US and England moving that way.”
Zimmerman is the inventor of the encryption program Pretty Good Privacy (PGP), as well as the co-founder of three-year-old encryption start-up Silent Circle. Continue reading »
– The Swiss National Bank Is Long $100 Billion In Stocks, Reports Record Loss (ZeroHedge, April 30, 2015):
When the Swiss National Bank revealed its long awaited Q1 financials earlier today, everyone was eagerly looking at the number showing just how massive the quarterly P&L loss would be to the central bank following its shocking decision from January 15 to remove its EURCHF 1.20 floor, which sent the CHF soaring and by implication caused huge losses to the mostly EUR-denominated SNB assets.
The loss was indeed, massive, coming in at CHF 29.3 billion, or $32 billion.
This was the biggest quarterly loss for the Swiss central bank to date, dwarfing that of CHF18.5 billion incurred in the second quarter of 2013, when the price of gold plummeted, and certainly one of the biggest central bank losses in history, if of course, the others tracked their P&L the way the SNB does. Continue reading »