On this podcast episode, the WHVP team sits down to talk about central bank digital currencies (CBDCs) and the initiative being presented to the Swiss government to ensure that cash stays a part of the Swiss economy forever. In addition, the team will briefly discuss the current debt limit standoff taking place in the U.S. government. We hope you enjoy it!
As the banking crisis in the U.S. rages on, our managing partner Jamie Vrijhof-Droese was asked to write an explanation of what is happening with the Swiss banking system for the Global Intelligence Letter. The article covers Switzerland's long banking tradition and major structural advantages, including its well-managed public finances, strong and stable currency, and very low debt levels. It discusses the fall of Credit Suisse and how WHVP approaches selecting the custodian banks we partner with. The article will help the reader understand why the Swiss banking system is still one of the world's largest and most popular wealth management sectors.
Ted Baumann, International Living’s Global Diversification Expert, and Jamie Vrijhof-Droese discuss the recent situation with the Credit Suisse bank, the effectiveness of the Swiss Financial sector management and regulatory structures, and if customers of the Swiss banking system can still have trust in the sector. If you’re interested in a safe nest egg outside the U.S. or even just exploring your options, you’ll want to hear what Jamie and Ted have to say.
The dominance of the USD in the global economy gives the USA a huge amount of power should another country go against the will of the U.S. or attack an ally of the country. Because of this, whether good or bad, it has caused some countries to view the dominance of the U.S. dollar as a threat to their sovereignty and independence. In this blog, we will look at some of the international movements away from the USD and how they may affect the dollar's value in the long term. Finally, it will conclude with what Americans can do to begin protecting their wealth's value in the face of a depreciating dollar.
Managing Partner Urs Vrijhof-Droese was recently featured in the Miller on the Money article to discuss how the Swiss banking system is set up and how it runs. Shortly after the Fed bailed out the Silicon Valley bank depositors, Reuters reported that Credit Suisse failed: “ZURICH, March 20 (Reuters) – Credit Suisse and UBS could benefit from more than 260 billion Swiss francs ($280 billion) in state and central bank support, a third of the country’s gross domestic product, as part of their merger to buffer Switzerland against global financial turmoil. …. The deal,…involves…a pledge from the Swiss government to absorb up to 9 billion francs in potential losses from the takeover.”
On this podcast episode, the WHVP team sits down together to talk about the U.S. bank crisis and the merger between UBS and Credit Suisse. In addition, the podcast will cover the stability of the Swiss banking system and the differences between the U.S. and Swiss banking industries and systems, and what Americans can do to ensure they select the right banks to partner with. We hope you enjoy it!
Last Thursday news about the need for a government rescue of Credit Suisse were made public. And over the weekend it was announced that UBS will take over Credit Suisse. As you know, it is important to us to communicate clearly and frequently, this is why we would like to shed some light on what‘s going on. The most important thing right away: WHVP has never used Credit Suisse as a custodian bank and has never recommended the bank. Thus, none of our clients have any relations with Credit Suisse and are not affected by what is going on. Now let‘s dive into the issue a bit more deeply and shed some light on what has been happening.
On Friday, March 10, the Silicon Valley Bank (SVB) collapsed after experiencing a classical bank run. Because of it, we are now confronted with a new collapse of the 16th biggest bank in the U.S... All of us need to understand how this has happened and learn about the banks we use. Further in this blog, we will explore the SVB collapse and the differences between banks in the U.S. and Switzerland. Finally, for individuals with personal wealth in banks, it will be informative about what Swiss banks can offer you amid uncertainty in the U.S. financial situation.
Since tax season is now upon us, it is important for Americans working with or looking to work with Swiss-registered investment advisors to know the tax considerations for their offshore accounts. A Swiss investment account is a popular choice for individuals looking to diversify their portfolios and protect their assets. Still, American citizens need to be aware of the U.S. tax implications. Swiss banks are required to report certain information about American citizens holding accounts in Switzerland to the IRS annually. Additionally, American citizens must report the existence of their Swiss bank accounts on their U.S. tax returns to avoid significant penalties and fines. This blog will help educate you on what you need to know.
There has been a momentous meeting between China and the OPEC nations. Our blog will cover the happenings of the event and how they may affect Americans and their wealth. It will be important to learn about what to expect looking forward as you seek to protect the value of your hard-earned U.S. dollars.
With a recession looming over the U.S. economy and high market volatility, investors can be left scratching their heads on how to proceed with their investment activities. Moreover, once the recession does hit the U.S., more fear could seize the markets. Therefore, it is crucial to understand what can be done when planning to invest during a recession. The blog post will cover how U.S. Investors can act in times of economic turmoil and find the right partners to help them find the right opportunities and manage their emotions.
In this blog, we will describe the impact the metaverse may have on the financial world and asset managers. The metaverse is an exciting topic due to recent trends and developments in technology, pandemic restrictions, and the evolution of cryptocurrencies. In addition, working remotely and connecting with loved ones became difficult for many, but the metaverse proposed an interesting solution for these issues, even proposing an independent economy.
In this webinar, you will learn how to utilize the Swiss economy, financial services, and registered investment advisors to bring stability to your existing or new investment portfolio. The presentation will cover the reasons for today's inflationary environment, how and why the Swiss economy differs from the United States, and how Americans can access the Swiss markets. In addition, it will be a chance to learn more about Switzerland's economic facts and figures and the relevant details that pertain to holding an offshore account in its jurisdiction.
The Jackson Hole Symposium has drawn a lot of attention because of Jerome Powell's speech in which he re-stated that the Fed will continue to lift interest rates in their fight against inflation. However, some of you may not have seen the inputs of the event given by the Chairman of the Governing Board of the Swiss National Bank (SNB), Thomas J. Jordan. Therefore, it is the intention of this blog to provide you with the highlights of the contribution he made to the event.
This article explains basic information about cryptocurrencies, including what they are and how to use them. It is a look at the basics and can act as a diving-in point to learn more. The world is changing fast, and understanding the things that are emerging is key to being able to adapt to the changing world.
Swiss National Day is upon us! So what is the history of Swiss independence and direct democracy? The Swiss gather together on the 1st of August to have grill parties, watch fireworks, and sit around bonfires. But the Swiss are also reflecting and celebrating a unique history that has led the country from poverty to where it is today as a wealthy and prosperous nation.
In this episode of the WHVP podcast, the WHVP team sits down to discuss On this episode of the podcast, the WHVP team sits down to discuss the Federal Reserve and the Swiss National Bank. The podcast will cover a brief history of the Federal Reserve and the Swiss National Bank, the roles they play today, and a discussion on the most recent Consumer Price Index data. We hope you enjoy it.
Brush up on your investment terms and what this means for our economy, your investments and the possibility of a recession. A bear market refers to a period of time in which stock prices decline and the overall market outlook is pessimistic. Beyond the daily fluctuations of the market, a bear market is typically marked by a 20 percent or more fall in the market index over at least a two-month period. Bear markets throughout history have varied greatly in severity and length of time. For example, two of the longest bear markets experienced in America include the Stock Market Crash of 1929, which lasted 34 months, and the more recent 2007 financial crisis, in which the bear market lasted over 27 months.
This article will help your clients and prospects understand the basics of asset allocation, and how their portfolio balances risk and potential returns. Each asset class has its own set of risks and rewards, depending on your time horizon, risk tolerance, and financial goals. The asset allocation strategy you select will allow you and your financial advisor to create a framework that will be able to manage the level of risk your portfolio will hold based on the asset class. You and your financial advisor may make adjustments to your portfolio over the years as your needs change, however, having a selected strategy will help to keep the portfolio balanced and not stray from a healthy level of risk.
I fear many brokers tell their clients they are safely diversified, yet they are not. I’ve seen my fill of fancy computer reports proclaiming diversification, that is nothing more than owning several mutual funds (generally fee-based, managed by the brokerage firm) all denominated in US dollars. It is very rare to see any gold or assets that will protect against real inflation. Real inflation was 15% last year. If your broker proudly proclaims an 8% return, you lost buying power. Don’t get hoodwinked! Immediately after Chuck’s interview, I received the WHVP newsletter, “The Swiss View: How to handle inflation?” I contacted Managing Partner Urs Vrijhof-Droese for an interview. He provides a great global view on diversification and inflation.