Search Results for: franc

Switzerland ends its peg to the euro, Swiss franc surges

Swiss National Bank Swiss franc SNB

By ending its three year currency peg to the weakening euro, Switzerland has become the first major economy to surrender in the international currency war, and in so doing has given a long-delayed victory to the Swiss people. Contrary to the indignant reaction by the media and financial establishment, the decision is …

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China to allow direct conversion between Yuan and Swiss Franc

Chinese clerk with yuan notes

China took another step to boost the yuan’s global usage, saying it will start direct trading with the Swiss franc, as the nation pushes its case for reserve-currency status at the International Monetary Fund. The link will start on Tuesday, the China Foreign Exchange Trade System said in a statement, making …

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Switzerland’s central bank just lost $52 billion

Switzerland mountain range

The Swiss Franc is getting crushed. Most banks around the world couldn’t survive losing $50 billion in six months. But most banks don’t print their own money. The Swiss National Bank, Switzerland’s central bank, announced on Friday that it suffered a first-half loss of 50.1 billion Swiss francs ($52 billion), the vast …

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How Has the Coronavirus Pandemic Affected Safe Haven Assets?

While large-scale disasters such as the coronavirus pandemic can have a significant negative impact on the global economy, causing certain stocks and shares to plummet, there are certain investments that are more likely to retain or even gain value during times of severe market instability. Here, we’ll explore the concept …

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Now the Swiss want their gold back…all 1040 tons of it!!

Swiss gold

With last week’s announcement by the Bundesbank of the repatriation of 674 tons of German gold from Paris and NY over the next 7 years, we predicted that an avalanche of gold repatriation requests would soon be made to the BOE and the NYFed. It appears that Switzerland may be next …

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IMF boss Christine Lagarde under investigation in corruption case

International Monetary Fund Managing Director Christine Lagarde IMF

IMF chief Christine Lagarde has confirmed that she is being investigated for alleged “negligence” in a corruption probe when she was French Finance Minister in 2008, she told AFP. “The investigating commission of the Court of Justice of the French Republic has decided to place me under formal investigation,” Lagarde told …

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Sweden cuts rates below zero, launches QE

Sweden

Sweden has cut interest rates below zero and launched quantitative easing to fight deflation, becoming the latest Scandinavian state to join Europe’s escalating currency wars. The Riksbank caught markets by surprise, reducing the benchmark lending rate to minus 0.10pc and unveiled its first asset purchases, vowing to take further action …

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CEO of Liechtenstein Bank Frick murdered in broad daylight

Liechtenstein Bank Frick

Over the weekend the world was gripped by the drama surrounding the mysterious murder-homicide of the former CEO of Dutch bank ABN Amro and members of his family, and whether there is more foul play than meets the eye. However, that is nothing compared to what just happened in the tiny, and …

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Libya destroyed by the west, $7 billion in gold and silver missing

Libya Gaddafi gold

A declassified email sent on April 2, 2011 to then Secretary of State Hillary Clinton reveals the invasion of Libya was launched to prevent Muammar Gaddafi from establishing a pan-African currency based on Libya’s gold Dinar. According to the document posted on the US State Department website advisors to Saif al-Islam Gaddafi, …

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Negative interest rates are coming to America

Obama Bernanke Yellen

American savers have had it hard enough, earning next to nothing on bank deposits and money market funds. But could it get worse, with banks here charging depositors interest to hold their money and high-quality bonds yielding nothing at all? It might seem a curious question, given broad expectations for …

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The ‘War on Cash’ has begun

War on cash

From Filip Karinja, for Birch Gold Group Forget the ‘war on terror’ or even the ‘war on drugs’. There is a new war in town: The ‘war on cash’. JP Morgan Chase recently informed some of its customers that cash can no longer be stored in their safety deposit boxes. In …

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The biggest price-fixing scandal ever

Libor

Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this …

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UBS fined for silver price manipulation

Precious metals silver

Switzerland’s regulator found “serious misconduct” by UBS employees in precious metals trading, particularly with silver, as part of its review of the bank’s foreign-exchange business. Electronic chats played a “key” role in the improper conduct in foreign exchange and precious metals trading, the Swiss Financial Market Supervisory Authority, or Finma, said in …

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8 signs that a global economic crisis is coming soon

When the banking crisis crippled global markets seven years ago, central bankers stepped in as lenders of last resort. Profligate private-sector loans were moved on to the public-sector balance sheet and vast money-printing gave the global economy room to heal. Time is now rapidly running out. From China to Brazil, …

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US dollar will not survive 2015

US dollar burning

Editor’s note: by ‘survive’ we are referring to the fact that the US dollar will soon lose major purchasing power. Just like it has lost over 98% since the Federal Reserve came into being in 1913. By Jim Willie, GoldenJackass.com In the closing months of 2014, on numerous occasions the position …

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The Gold War

Gold

The global financial crisis is better described as a global monetary war to defend the toxic US Dollar, whose sunset can be seen.In the last 12 to 18 months, the monetary war has again morphed, this time into a far more serious and financially violent global Gold War. Nations are …

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French farmers torch tax office and dump vegetables out front

French-farmers-tax-office

Farmers dumped piles of vegetables around the town of Morlaix in western France on Friday night before torching public buildings in a dramatic act of frustration at falling revenues. Around 100 farmers hauled artichokes, potatoes and broccoli to Morlaix by tractor, unloaded them onto the streets and set them ablaze, Reuters reports. According …

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