Just now:
Crude, Gold Jump After Goldman Says SNB Action Hints At “Massive ECB QE”
“This is a massive message from SNB to the market : ECB is going to do QE, and it’s going to be big...” notes Goldman Sachs
Meanwhile, Gold is up, Oil is up...
Note that the Swiss interest rate is -0.75%, down from -0.25%. I guess the zero bound isn’t a bound.
Some big-name investment Guru’s calling this “A Financial 9/11” on Twitter.
A huge QE will trash the Euro, Greece may yet exit/be kicked out of the EU, and Southern Europe is a real basket case.
The Swiss finally said “Enough”, and pulled the plug to protect their own interests.
Not really unexpected. The tie of the franc to the euro was unsustainable. The smart money was shorting euros and buying francs for when this move wold take place.
Ping
Is it correct to say the Swiss decoupled their currency from the Euro to protect the Franc from devaluation due to currency printing the EU is planning?
Ping.
Ping.
Switzerland seems like the only country in the West that cares what’s best for its people.
The Swiss aren’t stupid.
The Templars have their revenge......................
So lets get this straight, Belgium and France are killing jihadists, and Obama is releasing them from GITMO?
HEY.......SEND THEM TO FRANCE AND BELGIUM!