Currency wars begin in earnest

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I thought we would see the cartel do some crazy things around the $1,900 dollar mark for an ounce of the yellow metal, but today’s insane decision by the Swiss National Bank to peg the Swiss Franc to the Euro, is simply staggering:

The cartel has surely lost its mind.

There really is now only one currency left standing.

And I bet Gerald Celente is glad that he recently sold all of his remaining Swiss Francs to buy this one last remaining currency, the only one in the world (with perhaps the exception of silver), which upholds one of the key principal features of a good money, namely that it stores its value.

If you need to know the name of this last currency, please read the last twenty posts on this site.

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About Andy Duncan

An Austrian Internet Vigilante trying to live Outside the Asylum
This entry was posted in Austrian Economics. Bookmark the permalink.

3 Responses to Currency wars begin in earnest

  1. Oh dear. I’d been thinking my gold was safer in Zurich than London, but if the Swiss ruling class is really this mad, perhaps I should worry about them confiscating my yellow metal.

    Back to buying sovereigns, hoping they’re real, hiding them somewhere close, and hoping the British government doesn’t outlaw gold?

    It really does feel like there’s nowhere to run. Perhaps I should just take out a huge mortgage, despite real estate being overvalued, and hope that inflation outpaces my interest payments. It’s certainly much easier to imagine gold confiscation than house confiscation.

  2. Mike says:

    I guess the Swiss have now become just as idiotic and statist as the rest of the human race.

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