Gary North, Lew Rockwell.com:
Are capital controls coming to the United States? They may be for Switzerland, The Swiss National Bank has announced that it is considering the imposition of controls. But these will be controls on euro accounts being shifted into Swiss francs.
Why would a central bank impose controls on money flowing in? Because this will raise the market price of francs in relation to euros. The central bank is dominated by mercantilist thinking. A rising currency is seen as a liability. Why? Because exporters are hit by the falling value of the foreign currency. Foreigners must pay more to buy francs to buy Swiss goods.
Most nations that have ever imposed capital controls have imposed them on the “outflow” of money. I put “outflow” in quotation marks, because there is no outflow of money.