Thursday, January 15, 2015

"It's Carnage" - Swiss Franc Soars Most Ever After SNB Abandons EURCHF Floor; Macro Hedge Funds Crushed

There are many counterintuitive cross-currents due to the Swiss National Bank removing the peg between the Swiss Franc and the Euro, but one unintended consequence is prices of precious metals soared--at least when priced in USDollars.  In stark contrast, the price of gold--when priced in USDollars--plummeted due to the violent appreciation of the Swiss Franc.

The currency wars continue to wreak havoc on forex speculators and global financial systems, with far-reaching implications for the average consumer.

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