.@SecRubio: "Too often, these days, we build downwards. We design our standards to ensure that no one will lose. We preoccupy ourselves more with the comfort of the worst than the potential of the best. We hold the most exceptional things among us hostage to the average."
SECRETARY RUBIO: For twenty-five centuries since, the Parthenon has stood. Empires have risen and fallen beneath its shadow.
And the progeny of the men who built it โ the sons of Athens and Rome โ have carried their civilization with them to the ends of the Earth.
Two and a half centuries after the founding of the American republic halfway across the world from where I stand now, I stand here today โ as the Secretary of State of that republic, and as the great-grandson of settlers who arrived in the new world from Spain โ I stand here to testify to a debt that no lapse of time, no distance of space, can ever extinguish.
@BaudanzaJoseph@poperespecter1 Do you think 41 Trillion in debt is every getting paid back?
Do you think we can simply grow the economy enough to outpace the deficit Congress approves?
No of course not.
We have to torch the system, and return to the Gold standard.
St. Francis once walked out to confront a wolf that had been terrorizing the Italian town of Gubbio.
He called it โBrother Wolf,โ made peace with it, and convinced the townspeople to feed it.
The wolf reportedly lived peacefully among them for the rest of its life.
It survived war, fire, and flood. Then two earthquakes devastated the Basilica of Saint Francis of Assisi, which has stood for more than 700 years.
Now, art historians and software engineers are using cutting-edge artificial intelligence to help restore its damaged art treasures. Sunday.
๐จ The CHEAT CODE almost no USD investor knows exists.
Swiss stocks returned 7.7% a year over the last 100 years. Pictet has tracked it since 1926: the most defensive, quality-heavy market on earth. Nestlรฉ, Roche, the compounders of record.
Now the trick. The SNB's rate is 0%. The Fed's is around 5%. When a USD investor hedges Swiss francs back to dollars, that gap is paid to him. The hedge doesn't cost. It yields.
Right now: roughly 7.7% from the equities, plus roughly 5% from the carry. Double-digit expected returns from the most boring stock market on earth.
The catch, because there is always one: the carry exists precisely because the franc tends to appreciate over time. Hedged, you trade the world's strongest currency for cash flow today. And the 5% lasts only as long as the rate gap does.
But here's what doesn't expire: since 1931, no 10-year investment in Swiss equities has ever lost money. Not one.
Everyone hunts returns in the loudest market. Sometimes the trade is sitting quietly in the safest one.
Swiss chocolate.
Swiss watches.
Swiss stocks.