Switzerland will vote on a measure to end fractional reserve banking in 2018. Known as the Vollgeld, or "Full Money," Initiative, this proposal could transform modern finance as we know it. Jason Voss, CFA, curates a helpful reading list.
The Vollgeld Initiative, with its primary objective of separating money creation from fractional reserve banking, proposes a complete overhaul of the monetary and banking system. A poll of CFA Institute Financial NewsBrief readers indicates concern over its implications.
In this week's edition of Weekend Reads for Investors, Jason Voss, CFA, salutes the NFL champion Denver Broncos and curates selections on the gravity of falling global equity markets, behavioral biases, Einstein's relativity, and more.
Jason Voss, CFA, provides an overview of the growing movement to end fractional reserve banking, which culminated in the December 2015 announcement of a Swiss referendum on whether to scrap the system.
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Charles Schwab is preparing to launch three exchange-traded funds focused on US Treasurys and corporate bonds as it looks to expand fixed-income offerings: the Schwab Short-Term Corporate Bond ETF, the Schwab Intermediate-Term Corporate Bond ETF and the Schwab Long-Term US Treasury ETF. Benzinga (18 Jul.)
The European Securities and Markets Authority's review of whether unbundling of trading and research spending has benefited investors could be the first step toward relaxation of the requirement, Jack Schickler writes. Many asset managers have found the rule difficult to implement. MLex (subscription required) (18 Jul.)
The UK Financial Conduct Authority's ability to respond quickly to complaints has "slipped significantly" as the number of inquiries has increased almost 100%, the Office of the Complaints Commissioner reports. Financial Times (subscription required) (18 Jul.)
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