Claudio Grass

You can’t eat a cake that has not even been baked yetClaudio Grass (CG): How do you assess the steps taken so far to fend off the collapse of the pension system, like increasing the retirement age? Do you believe such measures will suffice and how do you evaluate their impact on the citizens’ lives?Carlos A. Gebauer (CAG): Frankly speaking, measures like increasing the retirement age to extend ...

You can’t eat a cake that has not even been baked yetFor quite some time now, I have been closely following news and reports out of Germany regarding the country’s pension system and the immense pressure it is under, placing those who support it and depend on it at great risk. Germany might be widely celebrated as the economic powerhouse of the EU and as its higher net contributor, supporting c...

In previous articles, we have outlined in great detail the many faults of the current monetary policy direction of major central banks and the large-scale economic impact of keeping interest rates artificially low. Among the worst offenders is the ECB, that is unapologetically persistent on continuing this exercise in absurdity that are negative interest rates. Over the last few years, the effe...

Economic, social and human costBeyond privacy, there is also widespread concern over the economic impact of a fully cashless system. For one thing, as citizens slowly become exclusively dependent on big banks and card companies the systemic risk to the wider economy spikes. But it goes further that that too. Without the option to keep some cash outside the banking system and retain some degree ...

Much has been said and written over the last years on the topic of the gradual elimination of cash that we witness in our economic activity and everyday transactions. The massive and widespread political campaigns and practical measures geared at making cash a thing of the past and encouraging the use of electronic money instead have been a deeply divisive issue, especially as the institutional...

Interview with Dimitri SpeckGiven the massive intervention and monetary manipulation experiment by central banks over the last decade, the amount of distortions created in the market, as well as the record debt accumulation at all levels of the economy, have given rise to considerable risks for investors. For a more detailed understanding of these issues and for his outlook, I turned to Dimitri...

“An eternally high plateau”US markets made headlines once again, as they reached new highs recently, continuing a rally that seems to defy gravity and common sense. Despite the rise in investor anxiety and heightened volatility that seemed to signify a possible end to the bull market at the final quarter of the last year, exuberance has returned since the beginning of 2019, while overall the S&...

Spillover effectsTurkey’s debt problem, coupled with the plummeting lira, is arguably the most important risk factor for the nation’s economy. To make matters worse, far from it posing a threat just to Turkey itself, it also has the potential to inflict significant damage elsewhere too, starting with key economies in the Eurozone.At first glance, the situation in Turkey might resemble many past...

An interview with Martin WiedmannThe Wiedmann Bible is an extraordinary work of art and a testament its creator’s passion and dedication. Created by Willy Wiedmann in over 16 years, the book depicts the entire Old and New Testament in 3,333 hand-painted images. In its original leporello/concertina book form, it unfolds to a total length of over 1km, revealing the truly herculean nature of the t...

«Because gold is honest money, it is disliked by dishonest men." - Ron PaulThe value of silver and gold is given by their own natureNeither gold, nor silver has value expressed in other units of account. Their value is expressed directly in their own weights. Everything else that is valuable (other assets, commodities, goods, services, or performed labor) is measured against a certain weight of...