Alex Gloy

Alexander Gloy is an independent investment professional with over 35 years of experience in financial markets. He worked in Equity Research and Sales, both in Investment and Private Banking for Deutsche Bank, Credit Suisse, Sal. Oppenheim and Lombard Odier Darier Hentsch. He focuses on macroeconomic research, analyzing the impact of global debt and derivatives on the stability of our monetary system. His interest in crypto-currencies from the perspective of monetary theory led him to become a member of the Central Bank Digital Currency Think Tank. He has taught classes at colleges and universities.

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Who Broke the Silicon Valley Bank and What Now

The combination of rapid deposit growth during a low-yield period, lack of lending opportunities, high share of non-insured deposits, and rapidly rising interest rates led to an unfortunate shortfall in risk-bearing capital for Silicon Valley Bank. The Fed might have to cut interest rates to contain contagion. Continue Reading

Fair Observer

The Great Gold Rush: Central Banks in Frenzy

Central banks have been buying gold in quantities not seen since 1967. After decades of efforts to demonetize gold, why would the guardians of the monetary system suddenly invest large sums into a metal that demands crippling mining costs and offers little return? The answer is not so simple. Continue Reading

Fair Observer

Is the Reckless Swiss National Bank Endangering Its Independence?

To combat the persistent strength of its currency, the Swiss National Bank (SNB) expanded its balance sheet to more than $1.1 trillion (CHF 1.05 trillion; 1 US dollar = 0.94 CHF), earning the nickname “the world’s largest hedge fund.” Its attempt to influence exchange rates failed, and initial gains on its foreign investments have turned into massive losses, leaving the SNB’s credibility... Continue Reading

Fair Observer
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