Posted on 09/08/2011 12:18:53 PM PDT by Errant
While the move by the SNB to basically link its currency to the dying Euro was shocking and will send shockwaves throughout the global financial systems for months to come, in many ways it was inevitable. The central planners are still in control and they are getting increasingly desperate. Part of their desperation manifests itself in acts to prevent markets from sending out signals to investors and the general population. This is why Central Bankers print money and buy government bonds. This is why the ECB is buying worthless PIIGS debt. This is why the SNB decided to destroy its currency. After all, if they agree to destroy the value of the Franc at the same pace as the Euro then it will become less clear to the currency market just how quickly purchasing power is being destroyed. Of course, you can always tell in the commodities sector. What the Swiss did is unfathomably bullish for commodities, in particular energy, food and precious metals. Every rich person with a Swiss bank account in Swiss Francs will be scrambling to turn that into the one hard currency left: GOLD. That is what the Swiss said to us earlier this week. They told every investor on the planet “we don’t want to have a hard currency.” If you want a hard currency you have once option now. Gold. When people really figure this out it is going to be a mad scramble for physical metal the likes of which no one alive has ever seen.
(Excerpt) Read more at zerohedge.com ...
The game is up when the German people apply for riot permits and finally hit the streets.
Tyler Durden can be a bit of an extremist, although it would be hard to exaggerate this crisis. The whole idea of an EU with unaccountable leaders was stupid, as was the idea of the Euro.
But I don’t think the Swiss are desperately joining the One Worlder collapse. I think their backs were against the wall, their exports and tourism business were in big trouble, and they were pretty much forced to take this unpleasant action.
—the one hard currency left: GOLD—
What about silver and copper? Just wondering...
—The game is up when the German people apply for riot permits and finally hit the streets.—
It’s best to just go with the parade permit and then just have a riot. There is a huge surcharge on riot permits.
Lemme see...currency backed by nothing and being spent by politicans from Paris to Pasadena by the trillions to create artificial lifestyles for people who never earned it by pandering for votes...
From Seville to Seattle from Warsaw to Washington...all politicians continue to spend and spend, with Central Banks continuing to print money at record pace...for the perception of solvency.
It’s like the old saying, “I can’t be out of money, I have checks left!”
you won by 0:04 ....
The U.S.Dollar is next.
Regarding Tyler (or the Tyler's) - usually more spot on than not, IMO.
But both of you damn funny! :)
Wasn’t Tyler Durden the main character in the film ‘Fight Club’?
more like brass with lead wrapped in copper.
—more like brass with lead wrapped in copper.—
Sounds like a deadly combination.
If Greece leaves the euro their debt quintuples. If Germany leaves the euro their ability to Profitably export becomes severely hurt. A currency of two types of euros will be created within he next 24 months. The standard euro will be retained by France, Germany, and the Netherlands. A version of euro lite will apply to those remaining.
:)
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