KWN weekly – Dec 18 (text) and 20 (audio), 2014
Greyerz: “A couple of weeks ago the Swiss National Bank managed to reject the gold initiative through massive propaganda, claiming that people would lose their jobs because of a strong Swiss franc. Well, the Swiss franc has been getting very near to the 1.20 peg again. The Swiss National Bank, fearing the peg would break, has now initiated negative interest rates of 0.25 percent. They also promised to buy unlimited amounts of euros…….