The Swiss National Bank Finally Gives Up !

Yep…they finally gave in to the dying Euro…and, as James Turk says: 

>> “…the Swiss franc will head south with it.” !

The Swiss National Bank Gives Up

September 19, 2011 – >> The Swiss National Bank finally gave up.

>> Consequently, as the euro is debased, the Swiss franc will head south with it. >> The world’s last safe-haven >> national currency > disappeared, > making the ownership of physical gold and silver all the more important.

One thing is clear in a world of fiat currency that begets hot-money.  One country cannot stand alone pursuing prudent monetary policies, at least if it aims to be politically correct and avoid being ostracized from the clubby world of central banking.  But this outcome is not a surprise.  I wrote about it this past March and illustrated my point with charts showing gold’s hyperbolic trajectory in four currencies, including the Swiss franc.

Here are the same four charts from that March 28th article updated through Friday’s close.

Go to the link for some revealing charts: http://www.fgmr.com/swiss-national-bank-gives-up.html

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