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steve / Steve Carr, CFA
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2024-03-04 07:49:09

steve on Nostr: How devaluation starts: April 18 will be the 25th anniversary of the current Swiss ...

How devaluation starts:

April 18 will be the 25th anniversary of the current Swiss constitution’s adoption. With that ratification, the #franc became fully fiat.

Yesterday, 58.2% of Swiss voted to add a 13th monthly federal pension payment, while a second initiative to raise the retirement age and begin tying it to life expectancy failed, garnering only 25.3% of votes.

Unless the #Swiss either raise taxes or cut other spending, the supply of franc will have to rise. Budgets must always balance: if not in nominal terms, then in real terms.
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