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 »
– The “War on Cash” Migrates to Switzerland (Acting Man, April 24, 2015):
Banks Increasingly Refuse Cash Withdrawals – Switzerland Joins the Fun
The war on cash is proliferating globally. It appears that the private members of the world’s banking cartels are increasingly joining the fun, even if it means trampling on the rights of their customers.
Yesterday we came across an article at Zerohedge, in which Dr. Salerno of the Mises Institute notes that JP Morgan Chase has apparently joined the “war on cash”, by “restricting the use of cash in selected markets, restricting borrowers from making cash payments on credit cards, mortgages, equity lines and auto loans, as well as prohibiting storage of cash in safe deposit boxes”. Continue reading »
– Meet The Secretive Group That Runs The World (ZeroHedge, April 11, 2015):
Over the centuries there have been many stories, some based on loose facts, others based on hearsay, conjecture, speculation and outright lies, about groups of people who “control the world.” Some of these are partially accurate, others are wildly hyperbolic, but when it comes to the historic record, nothing comes closer to the stereotypical, secretive group determining the fate of over 7 billion people, than the Bank of International Settlements, which hides in such plain sight, that few have ever paid much attention.
This is their story.
First unofficial meeting of the BIS Board of Directors in Basel, April 1930
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The following is an excerpt from TOWER OF BASEL: The Shadowy History of the Secret Bank that Runs the World by Adam LeBor. Reprinted with permission from PublicAffairs.
The world’s most exclusive club has eighteen members. They gather every other month on a Sunday evening at 7 p.m. in conference room E in a circular tower block whose tinted windows overlook the central Basel railway station. Their discussion lasts for one hour, perhaps an hour and a half. Some of those present bring a colleague with them, but the aides rarely speak during this most confidential of conclaves. The meeting closes, the aides leave, and those remaining retire for dinner in the dining room on the eighteenth floor, rightly confident that the food and the wine will be superb. The meal, which continues until 11 p.m. or midnight, is where the real work is done. The protocol and hospitality, honed for more than eight decades, are faultless. Anything said at the dining table, it is understood, is not to be repeated elsewhere. Continue reading »
– Swiss Government Becomes First Ever To Issue 10Y Debt At A Negative Yield (ZeroHedge, April 8, 2015):
It had to happen sooner or later… in the new normal of yield-reaching, collateral-shortage-ing, money-printing economalypse, the Swiss government has become the first ever to issue a 10Y sovereign bond at a negative yield. As WSJ notes, while several European countries have sold government debt at negative yields up to five years of maturity – which means investors effectively pay for the privilege of buying it – no other country has previously stretched this out as long as 10 years. Mission Accomplished Central Bankers?
– Scientists at Large Hadron Collider hope to make contact with PARALLEL UNIVERSE in days (Express, March 20, 2015):
The staggeringly complex LHC ‘atom smasher’ at the CERN centre in Geneva, Switzerland, will be fired up to its highest energy levels ever in a bid to detect – or even create – miniature black holes.If successful a completely new universe will be revealed – rewriting not only the physics books but the philosophy books too.
It is even possible that gravity from our own universe may ‘leak’ into this parallel universe, scientists at the LHC say. Continue reading »
— James Ball (@jamesrbuk) 20. Februar 2015
– Switzerland flexes parliamentary muscle as scrutiny of HSBC intensifies (Reuters, Feb 19, 2015):
FINMA had first investigated HSBC as long as four years ago, when it criticized the bank’s internal controls, and it said on Thursday that two previously unpublicised investigations had found that HSBC violated money laundering guidelines.
– Swiss Franc Is Tumbling, Retraces 60% Of SNB Move (ZeroHedge, Feb 18, 2015):
Is the SNB buying Euros to keep the mirage alive that Grexit is “managable”? EURCHF is up dramatically in the last 2 days, retracing 60% of the Swiss Franc’s valuation surge against the USD…
– Swiss National Bank Hints At Capital Controls (ZeroHedge, Jan 7, 2015):
Even as the whispers that the imposition of capital controls by Greece, which is now running out of both time, negotiating leverage and tax money is just a matter of time, get louder with every passing day if not acknowledged by Greek officials yet, it was none other than one of the supposedly most “rock-solid” central banks in the world that fired a shot across the bow of global financial stability when it hinted that not Greece but another country may be the first to engage in capital controls. The country: Switzerland.
You can be a billionaire and still don’t have the foggiest idea about healthy food and how to keep the body healthy.
– $43 Hot Dogs; $47 Burgers And $55 Caesar Salads: A Look At The Davos Menu (ZeroHedge, Jan 23, 2015):
Billionaires may live in a world untroubled by such petty concerns as rising costs of living and declining real wages, but like everyone else they have to eat. And pay. The picture below shows what the menu prices, in Swiss Francs, are for various meals offered for sale to the billionaires and other upper class “luminaries” currently congregating in Davos. Some examples converted to USD: Hot Dog: $43; Burger: $47; Caesar salad: $55.
This is what a $55 caesar salad looks like: Continue reading »
– How The Swiss National Bank Almost Crushed George Soros (ZeroHedge, Jan 23, 2015):
Minutes after last week’s Swiss National Bank shocker, jokingly we mused:
Will be ironic if Soros was long EURCHF
— zerohedge (@zerohedge) January 15, 2015
… because there would be nothing more ironic if the man who “broke the Bank of England” ended up being FXCMed himself by another central bank, over two decades later and just as he was set to finally retire, at the age of 84, formally, something he supposedly announced in Davos yesterday. Continue reading »
– The SNB’s Wake-Up Call: Keynesian Central Banking Is Destroying Money And Markets (David Stockman’s Contra Corner, Jan 17, 2015):
It seems everyone was short the franc (CHF) as a matter of taking monetarism at face value. In other words, it amounted to believing the central party line about the economy and normalcy despite the fact that markets have been increasingly pessimistic about it all and actively and aggressively betting against it. Goldman Sachs is just one of many: Continue reading »
– What Really Happened At The SNB Yesterday: One Person’s Take (ZeroHedge, Jan 16, 2015):
Here are a few theories on what really happened at the Swiss National Bank on January 15, 2015. That fateful day, the SNB suddenly decided to end suppressing the value of the Swiss Franc versus the Euro.
What happened at the SNB? Continue reading »