Author Topic: CURRENCY WARS: How The Swiss National Bank Went "All In"  (Read 705 times)

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Offline Letsbereal

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CURRENCY WARS: How The Swiss National Bank Went "All In"
« on: January 09, 2013, 01:49:01 pm »
Chart Of The Day: How The Swiss National Bank Went "All In", Three Times And Counting
9 January 2013
, by Tyler Durden (Zeto Hedge)

Think the Fed (with its balance sheet amounting to over 20% of US GDP), or the ECB (at 30% of GDP) is bad?

Then take a look at the balance sheet of the Swiss National Bank, whose assets now amount to some 75% of Swiss GDP

and which has now "literally bet the bank" in the words of the WSJ not once,

not twice, but three times in a bid to keep the Swiss Franc - that default flight to safety haven - low,

and engaging in what is semi-stealth currency warfare by buying other sovereigns' currencies for over two years now,

although he hardly expect the US Treasury to even consider it for inclusion on its list of currency manipulators - after all,

"everyone is doing it".
->>>|:-) THE CITY INDIANS (-:|<<<-