This economist knows how Switzerland can hurt Trump

Gold is of particular importance for Donald Trump.Image: Imago / Keystone, montage watson

Should Switzerland remain their arms crossed while Donald Trump imposes 39% customs duties? Similarly, No, says an economist well aware of the National Bank behind the scenes. For example, At the heart of its three -step plan: gold.

Othmar von Matt / CH Media

For Adriel Jost, the strategy to adopt in the face of Donald this economist knows how switzerland new Trump’s punitive rates against Switzerland is two simple questions.

And Adriel Jost knows what he is talking about: he was adviser to the vice-president of the BNS general management and chief economist of the Wellershoff & Partners.

Today. In addition. Consequently, he is a consultant at this economist knows how switzerland new the Swiss Economic Policy Institute of the University of Lucerne, lecturer at the University of Saint-Gall and president of the Think Tank Liberethica.

Here is this economist knows how switzerland his three -step plan 👇

Prohibit gold export to the United States – This economist knows how switzerland – This economist knows how switzerland new

First step according to Adriel Jost: prohibit the export of Swiss gold to the United States. For example, This would be due to almost the same as a 39% tax on exported gold. However, as the Swatch boss, Nick Hayek, claims in an article of Blick.

However, Donald Trump does not impose a tax on Swiss this economist knows how switzerland new gold. Moreover, Nick Hayek, an analysis supported by Adriel Jost, says:

Sell US Treasury Billings – This economist knows how switzerland

Second step: cede the this economist knows how switzerland state obligations of very indebted countries. Consequently, priority those of the United States. For example, Currently, Switzerland has around $ 300 billion in long -term American loans. In addition, Almost two thirds, about 200 billion, belong to the BNS, according to Jost. Consequently. At the end of June 2024, the US Treasury Department listed $ 1194 billion in American titles held by Swiss institutions and companies.

Switzerland thus occupies eighth rank in the world, just behind China. The United Kingdom is first with $ 2946 billion in titles.

Buy gold in the United States

Third step: investing the product of these sales in gold. “And buy it if possible in the United States,” said Adriel Jost. Then have one kilo bars transform into Swiss refineries into 400 ounce this economist knows how switzerland bars. exportable to the United Kingdom. On the American market, on the other hand, it is the small ingots of one kilo that are requested.

Swiss refineries play a key role in these flows between the United States. the United Kingdom: they adapt formats to market standards. Proof of their importance: British Foreign Minister David Lammy went to the Ticino refinery last Thursday Argor-Heraeus.

The expected effects

With these three this economist knows how switzerland new measures. Switzerland would obtain at least one thing. according to Adriel Jost:

But it provides for other consequences: Washington would suffer “quickly negative effects”, as shown by the turmoil aroused by the announcement of a 39% tax on Swiss gold. The economist this economist knows how switzerland is convinced of this:

In the photo. you can see one of its golden glass in gold during this economist knows how switzerland new a conversation with French President Emmanuel Macron.Image: EPA / BONNIE CASH / POOL

Under Joe Biden already. Adriel Jost criticized the BNS for favoring the state obligations of countries over -indebted to the detriment of gold. In September 2024. he wrote in the economic magazine Balance sheet:

A question of confidence

The evangelical national councilor Nik Gugger. specialist in free trade, shares this analysis: the question of confidence is central. Switzerland should send a strong signal to Donald this economist knows how switzerland new Trump by questioning American financial titles. He recommends that the BNS will review its investment strategy in an ostensible way. or that it gradually transfers its assets to gold.

A subtle approach. but with a strong symbolic scope: “He who is silent when the markets are unbalanced should not be surprised to be taken away by the storm”. declaims Nik Gugger. “Sending a signal now is preserving your capacity for this economist knows how switzerland action.” And add:

A condition for yellow metal

Gold seems to play a special role for Donald Trump. The proof: he wants to have a white and gold ballroom in the White House. “Gold is obviously more this economist knows how switzerland new value than other goods exported by Switzerland. ” observes Adriel Jost:

Above all. Donald Trump reacts very quickly to everything related to gold. And the American -on markets on yellow metal would undoubtedly undergo turbulence if Switzerland prohibited its export. according to the economist.

Adapted from this economist knows how switzerland German. by Tanja Maeder

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