from The Daily Bell:
World deflationary forces have swept away Switzerland’s defences … A month ago the Swiss authorities were still claiming that their currency floor was crucial to prevent a deflation trap. They were right … The Swiss National Bank has lost control. It is the latest in a list of venerable central banks to be overwhelmed by deflationary forces and global economic disorder. – UK Telegraph
Dominant Social Theme: Deflation is coming … let us print!
Free-Market Analysis: The meme is strong in this one, apologies to Star Wars. Every time we turn around, we’re seeing more mainstream reports about the dangers of deflation. Now, having rejected their gold referendum, the Swiss have de-pegged their currency from the floundering euro … just as the ECB’s Mario Draghi is getting ready to pump a trillion or so in new currency into the eurozone.
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