FRIDAY, JANUARY 11, 2013
Switzerland: From Daddy's Little Girl to A Strung Out Streetwalker
By, Chris Rossini
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Switzerland, a country which, thanks to its relative pursuit of capitalistic policies, has had the highest standard of living in continental Europe.
But sadly, like a sweet and innocent teenage girl, Switzerland couldn't resist the bad boys.
It put up a good fight, for sure. Its currency still had a constitutional gold backing until 2001. And it resisted membership into the UN until 2002. But slowly, and surely, the bad boys wore away all of the good values Switzerland had learned.
The saying still holds true: "Birds of a feather flock together." And after some time has now passed, the sweet innocent girl has grown up to be a strung out streetwalker.
There's no better way to destroy all that is good in civilized society than by debauching the currency.
In the middle of 2012, Bob Wenzel reported in The EPJ Daily Alert:
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Switzerland, a country which, thanks to its relative pursuit of capitalistic policies, has had the highest standard of living in continental Europe.
But sadly, like a sweet and innocent teenage girl, Switzerland couldn't resist the bad boys.
It put up a good fight, for sure. Its currency still had a constitutional gold backing until 2001. And it resisted membership into the UN until 2002. But slowly, and surely, the bad boys wore away all of the good values Switzerland had learned.
The saying still holds true: "Birds of a feather flock together." And after some time has now passed, the sweet innocent girl has grown up to be a strung out streetwalker.
There's no better way to destroy all that is good in civilized society than by debauching the currency.
In the middle of 2012, Bob Wenzel reported in The EPJ Daily Alert:
Consider Switzerland. Swiss state money—the money produced by the Swiss National Bank—was 305 percent higher in July 2012 than in July 2011.The Wall Street Journal now calls the Swiss Central Bank:
As a result, Switzerland’s total money supply grew at a 10 percent year-over-year rate in July 2012.
...the globe's biggest risk-taker.WSJ also provides a picture which speaks for itself:
But hey...all the bad boys are doing it:
Nearly every major central bank is buying nontraditional assets to resurrect domestic economies in the wake of the worst global recession in 75 years. The U.S. Federal Reserve is buying mortgages; the European Central Bank is making unusually long loans to banks; and the Bank of Japan is buying real-estate investment funds.All risk losing money, but Switzerland's exposure stands out in character and scale: Its central bank is buying assets from other countries and its holdings of currencies, bonds, stocks and gold—nearly 500 billion Swiss francs, about $541 billion—are nearly the size of the nation's gross domestic product.
This won't end well.
It's already obvious that the U.S., Europe, and Japan are headed for financial armageddon. They're all toast.
But what a shame that they were able to spread their disease to a place like Switzerland.
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