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Swiss Franc Slumps Most Since September 2011
The fallout from the monetary policy machinations in Europe over the last two weeks are far from over. After notable weakness last week, the Swiss Franc collapsed 2.7% today against the USD - its largest single-day drop since Sept 6th 2011. Whether this is SNB re-intervention, natural kneejerk reactions to the massive move on SNB day, covering of positions as FX brokers try to unwind positions, or Swiss recession fears is unclear; but one thing is obvious, higher-er margins and lower-er leverage is on the way as these moves are colossal on a historical volatility basis...
Biggest single-day drop against the USD since Sept 2011...
Quite a roundtrip...
and against the Euro...
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Meh...
Another paper promise.
KING DOLLAR!!!!
Half an hour of intervention by the SNB you can't really call a slump!
After 2 years of gold going down the kleptocrats and financial "journalists" and analysts claimed "gold bugs" were wrong. Yet for 7 years the Central Banks have been printing to stop "deflation" but that hasn't worked. WTF?
Follow the money, there most certainy is hidden inflation, but more importantly it is very clear that all that free money (QE & ZIRP) just keeps going to the same people in banking and finance. There's your "what the fuck".
Have faith, such "let the majority eat cake" monetary experiments never end well, but they do end.
The people deciding policy have tenure.
Gold is no longer going down. The bottom in that market was last Nov. it's in a new bull market as we speak. check the price charts.
I figure paper gold will slide around like a hog on ice for awhile but with the spot market for physical gold going up. Sooner or later those Comex contracts will start to be called and then the fun will start as the blood will be knee deep on the trading floors.
Rats jumping off the sinking fiat boat.
All over the place - like shit in a lunatic asylum.
And yet Gold is down today ????.....I can't even pretend to understand this fraud any more
Today means nothing; daily prices are like listening to the static between AM radio stations and trying to decide which song it is. The bottom was made in the International Gold Market at the end of last November. It is now in a new bull market. Pay attention please. Remember this is a field of study you know nothing about; Just repeat this as often as necessary until it sinks in; you don't "interpret" daily price moves; they are static. The market needs a mini-correction; there should be a couple of more down days. I will anounce when I see the little local, short term, bottom for you to buy. Meanwhile try to remember that Gold and Silver are in a new Bull Market and they will remain in that new Bull Market until they challenge the low made last November. Thank You.
Gold moving in lockstep with dollar is starting to freak me out! Are they pegged? Three month charts looks identicle. Maybe nothing but it sure seems weird.
"Nothing" is the correct answer. It's like seeing the Virgin Mary in the cracked paint on your bedroom ceiling.
The Swiss Franc move is normal and expected. It is trades clearing; do not be concerned.