Are all the departments of all the central banks staffed by Romans?

  Reflections on unemployment, inflation and the FED The US Federal Reserve has achieved its inflation target, current inflation rates are higher than the target inflation and are making up for inflation rates that were too low in the past. We try to show why further expansionary measures are unlikely to have much positive impact on employment, but are only likely to fuel inflation.…


The dilemma of climate change is the prisoner's dilemma

  We show, with the help of an excursion into game theory, why it is so difficult to reach a cooperative solution among all nations regarding “climate change and environmental protection”. We venture a prognosis on whether and how climate change could work.   Climate change imposes significant costs on all of humanity The lion’s share of these costs is not borne by…


Silver - Part 3

When should you be invested in silver or gold?   In the 3rd part of this series of articles on silver we try to examine simple investment strategies. It turns out that using the gold-silver ratio (GSR) is not very suitable for applying simple moving-average strategies. Instead of using them for investment decisions, it was better in the past to “simply” buy and hold.  …


Silver - Part 2

A brief history of the gold-silver exchange ratio   In the first part of this blog series, we had seen that silver had various applications in the real economy for centuries due to its unique and special chemical properties (greatest electrical conductivity, high sensitivity to light, inertness, antibacterial effect). In the second part of this article, we will start to look at the role of…