18 June 2021 Central bank digital currencies (CBDCs) are already operating in the Bahamas and being trialled in China. They will be introduced by many countries over the next five years. CBDCs enjoy the crucial advantage of total security, because a central bank can’t go broke. But, in order to achieve broad acceptance, CBDCs also need to be cheaper or [...]
By Arminius|2021-06-18T17:17:18+00:00June 18th, 2021|Categories: 2021, Geld Zug|Comments Off on Geldzug: WHAT ARE CENTRAL BANK DIGITAL CURRENCIES?
28 May 2021 The ANZ, NAB and WBC results for the March half-year demonstrated comfortable provisioning, strong balance sheets, improving margins, and prudent funding. What was missing was organic growth. The banks’ loan write-downs in the next two years will be less than the provisions they made last year, but provision write-backs are no substitute for growth. We continue to [...]
By Arminius|2021-06-03T17:12:22+00:00June 3rd, 2021|Categories: Uncategorized|Comments Off on Geldzug: AUSTRALIAN BANKS: WHERE’S THE GROWTH?
26 April 2021 On several occasions Arminius has outlined the difficult competitive landscape which Australia’s big four banks have had to face since the GFC. Just recently, the most successful bank CEO of the last two decades has given us an update on the main competitive threats to the industry... [read more]
By Arminius|2021-04-22T19:52:03+00:00April 25th, 2021|Categories: Uncategorized|Comments Off on Geldzug: WARNINGS FROM THE MOST SUCCESSFUL BANK CEO
23 April 2021 Back when coins were originally made out of an alloy of silver and gold it was uncommon but not impossible to debase one’s currency. The death penalty as a consequence of currency debasement seemed to inhibit the practice. The Lydian Empire in 700 BC (before they fell to the Persians) lays claim to inventing “coinage”. Once the [...]
By Arminius|2021-04-22T18:55:04+00:00April 22nd, 2021|Categories: 2021, Geld Zug|Comments Off on Geldzug: INFLATION PREPARATION – OLD IS NEW AGAIN
28 February 2021 Twice a year we summarise the half-year and full-year results of the companies in the ALCE portfolio. Most of the companies in the portfolio reported strong earnings recoveries in the December half-year, and dividend payouts were higher than our forecasts... [read more]
By Arminius|2021-03-01T18:02:37+00:00March 1st, 2021|Categories: 2021, Geld Zug|Comments Off on Geldzug: THE AUSTRALIAN FEBRUARY 2021 REPORTING SEASON
25 February 2021 China’s top leaders have set out their top priorities for 2021 to 2025: achieving self-reliance in science and technology, and “dual circulation”. Self-reliance in science and technology means accelerating the development of vital high-tech industries such as semiconductors to ensure that China can develop regardless of US “threats”. Dual circulation means encouraging production for domestic markets as [...]
By Arminius|2021-03-01T16:32:09+00:00March 1st, 2021|Categories: 2021, Geld Zug|Comments Off on Geldzug: CHINA’S 14th FIVE YEAR PLAN