Tuesday, January 20, 2015

What Happened in Switzerland
Will Be Repeated Elsewhere
"Not only did the Swiss National Bank destroy its own credibility, it undermined the credibility of every other Central Bank. Any Central Bank managing a fixed currency is at risk. Hong Kong, China and Korea come to mind. If (when) any of these come under attack they will face the same fate as the Swiss. The reality is that the global markets are much larger and more powerful than the Central Banks. What happened in Switzerland will be repeated elsewhere. It’s likely that these attacks will happen fairly soon."
- Bruce Krasting
link here to the article

No comments: