Craig Hemke (aka Mr. Turd Ferguson) hooked-up with Rory over at The Daily Coin to talk about all the fur flying in the currency markets on Thursday as the Swiss National Bank sent shockwaves through the financial markets by de-pegging the CHF from the Euro.
Craig explains all the details and implications of the Swiss leaving the Euro behind and “saving themselves.”
The Swiss National Bank (SNB) sent shock waves through the financial markets today, January 15.2015, when they announced the Swiss Franc would no longer be pegged to the Euro. The shock grew in intensity when they further announced, not only would they continue with the NIRP (Negative Interest Rate Policy) but they were in fact going to steal even more currency from savers by dropping their negative interest rate from -0.25 to -0.75. Which of course means that if you had the equivalent of $100,000 in the SNB this morning, this afternoon you would have lost $750–in one day!!
Craig explains all the details and implications of the Swiss leaving the Euro behind and “saving themselves”. Since 2008 the entire financial world has been turned upside down. In late 2011 the Swiss decided to peg their currency to the Euro, in essences giving up their national currency for the debt and death soaked Euro experiment. Keep in mind that England, the home of the Bank of England, is not a member of the European Union nor do they have their currency tied (pegged) to the Euro. That is a story for another day but it is very important to the overall central bankster theft of nation states like Switzerland.
For Rory’s full write-up and the podcast, click here: