Man Who Predicted Collapse Of Euro Against Swiss Franc Now Warns Huge Shock Will Bring The World To Its Knees

http://kingworldnews.com/man-who-predicted-collapse-of-euro-against-swiss-franc/

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Man Who Predicted Collapse Of Euro Against Swiss Franc Warns Of Next Shock To The World

http://kingworldnews.com/man-predicted-collapse-euro-swiss-franc-warns-next-shock-world/

Man Who Predicted Collapse Of Euro Against Swiss Franc Warns Current Global Financial System Will Cease To Exist

http://kingworldnews.com/man-predicted-collapse-euro-swiss-franc-time-running-global-financial-system/

Man Who Predicted Collapse Of Euro Against Swiss Franc Issues Third Terrifying Warning To The World

http://kingworldnews.com/man-predicted-collapse-euro-swiss-franc-issues-third-terrifying-warning-world/

58-Sigma Collapse Of Euro Against Swiss Franc Just A Warm-Up To The Biggest Shock Of All

http://kingworldnews.com/58-sigma-collapse-euro-swiss-franc-just-warm-biggest-shock/

Man Who Predicted Collapse Of Euro Against Swiss Franc Makes Second Terrifying Prediction

http://kingworldnews.com/man-predicted-collapse-euro-swiss-franc-issues-second-terrifying-prediction/

Man Who Predicted Collapse Of Euro Against Swiss Franc Gives More Shocking Predictions For 2015

http://kingworldnews.com/man-predicted-collapse-swiss-franc-gives-shocking-predictions-2015/

So Much Changes In 48 Hours

In the "do as what I'm about to do, instead of do as I say" category, the Swiss National Bank just threw those short the Swiss Franc under the bus.  In a classic "Wall Street head fake," the victims were not only institutional or pension funds, but also Wall Street firms themselves.

CHF shorts just got carried out on a stretcher.

http://www.zerohedge.com/news/2015-01-15/so-much-changes-48-hours

"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.

http://www.zerohedge.com/news/2015-01-15/its-tsunami-swiss-franc-soars-most-ever-after-snb-abandons-eurchf-floor-macro-hedge-

How The Swiss National Bank Went "All In", Three Times And Counting

Even the staid, stodgy, and conservative Swiss National Bank is joining the race to the bottom in the global currency war.

http://www.zerohedge.com/news/2013-01-09/chart-day-how-swiss-national-bank-went-all-three-times-and-counting

Greyerz - Despite Manipulation, Swiss Gold To Become Money

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/10/18_Greyerz_-_Despite_Manipulation%2C_Swiss_Gold_To_Become_Money.html

Swiss bank vows to hold franc down

In a central bank world gone mad, even the traditionally staid Swiss National Bank is devaluating their currency, the Swiss franc.  Yes, it's a quick-fix for exporters to remain competitive, but this race-to-the-bottom currency war will ultimately destroy citizens' purchasing power and standard of living, because of higher prices for imports.

http://www.ft.com/intl/cms/s/0/23278860-f5df-11e1-bf76-00144feabdc0.html#axzz25UEuG5zZ

Swiss Parliament Examines New ‘Gold Franc’

http://www.forexpros.com/analysis/swiss-parliament-examines-new-%E2%80%98gold-franc%E2%80%99-123957

The Swiss National Bank Gives Up

http://www.fgmr.com/swiss-national-bank-gives-up.html

The Swiss National Bank finally gave up.  For months it tried standing alone against all of the bad monetary policies being pursued by the ECB, the Federal Reserve, the Bank of England and indeed, nearly all of the central banks of the world, but it was a losing battle.  So last week the Swiss National Bank succumbed to these pressures and pegged the Swiss franc to the euro.

Consequently, as the euro is debased, the Swiss franc will head south with it.  The world’s last safe-haven national currency has finally disappeared, making the ownership of physical gold and silver all the more important.

That the pattern of the Swiss franc in the above chart is similar to those of the other three currencies may surprise some people.  The obvious conclusion though is that the Swiss franc has not been a safe haven for at least a decade.  All currencies are being debased against the world’s time-tested and trustworthy numéraire – gold.

As I wrote last March, “the gold price is rising at an accelerating rate” meaning that national currencies are “losing purchasing power at an accelerating rate.”  These quotes accurately describe what happens to national currencies moving toward hyperinflation and collapse, which is where the above four currencies are headed.

How can they notice Swiss franc's devaluation and not gold's too?

http://www.gata.org/node/10445

This is another example of the Wall Street head fake, as manipulators shake out the weak hands.  The weak hands are either dumb--or just that--weak.  Selling gold into this market will prove to be ruinous, in my opinion. 

http://www.zerohedge.com/news/thank-you-swiss-national-bank-2000-gold

The price of a Big Mac is now $17.19 in Zurich

http://www.sovereignman.com/expat/big-mac-zurich

I can think of a lot of words to describe the performance of the US dollar. Farce. Joke. Lunacy. Embarrassment. Disgusting. But it’s more clearly summed up like this: the price of a Big Mac is in Zurich is now so high (at $17.19) that a minimum wage employee in Minneapolis, Minnesota, would have to work for nearly 4-hours in order to afford it.

This is what stability looks like to Ben Bernanke.

The Chinese shunning of gold?

Not according to Dan Norcini:

Gold put in an impressive performance today from where I sit battling back from a barrage of selling linked to the ridiculous story circulating around the market today that China was not interested in buying gold. That initially emboldened the raiders at the Comex and sent the lemmings packing and heading for the hills before saner minds prevailed who began buying into the weakness. The result was a strong bounce from important technical support near the $1,110 level (see the chart for a view and read the comments there).

Let’s state the obvious here – the Chinese NEVER announce their intentions beforehand. Do the investors/traders in this nation believe that they are stupid? Anyone who follows the soybean market can attest to this. As we mentioned last time a story appeared announcing China’s intention to buy the remainder of the IMF gold sale; such a thing would be very uncharacteristic for them. After all, we are not dealing with a Gordon Brown here (the Prime Minister of England who at the time he headed the Treasury there announced beforehand his intention to sell England’s horde of gold thereby guaranteeing that the citizens of his nation would receive the lowest possible price). Rest assured that China has no intention of saying the least thing positive about gold purchases knowing full well that they will create a stampede of buying into the market which would guarantee them the worst possible purchase price.

You might recall that after copper collapsed from over $4.00 all the way down to $1.25 that it was not until it had recovered quite nicely off the bottom that word leaked out that China had been accumulating the red metal for its strategic stockpiles. Did China come in and announce beforehand that they were going to buy gobs of copper? Of course not –it was only after the market began moving higher and kept moving higher and traders were speculating as to what was going on that the truth came out. I remember full well the comments from the analysts at the time who were dumbfounded by the fact that the metal kept moving higher in the face of a collapse in the US housing market and an abrupt shutdown of the US economy. They were all sitting around scratching their heads trying to come up with reasons why the market was going up and not down.

It will be exactly the same for gold. China will buy it and you will not know it UNTIL AFTER THE FACT. The price chart will tell us when the buying is occurring but it will not tell us who is buying. I repeat, the East does not announce their intentions until after the fact. They will accumulate the metal on price weakness whenever Western-based hedge funds are in the process of selling it. If I had to bet on these funds against China, my money would be on the Chinese.

One last comment about this matter – China is still reeling from the fact the India beat them to the market on their gold buys late last year. And do not forget that India is going to be adding more gold to their official reserve holdings at an appropriate price level.

Even if you leave the Chinese out of the gold market – gold has not been making all time record highs in terms of the Euro and the British Pound and 30 year highs in terms of the Swiss Franc because China might or might not buy the metal. It has been doing so because it is functioning as a currency without any obligations attached to it. In other words, China’s actions in the gold market have nothing to do with gold’s string of all time highs in these major currencies. It is fear, uncertainty and a desire for a safe haven that have fueled the metal’s rise. China is just an added bonus which will serve to keep a floor under the metal on price retracements.

It looks to me like it's just another head fake--this time thrown by the Chinese to throw speculators and other sovereign governments off their trail.

Disclosure: long gold mining shares.

What's happening and what could happen

Bad and worse, I'm afraid. The first article (see yesterday's reference to the Independent in the Bloomberg blotter) reiterates sovereign government funds diversifying away from the weakening dollar, which is causing inflation domestically.

http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html

Expect denials from all sides, the it's becoming increasingly apparent the USDollar is doomed long-term.

And here is a dour prediction from a normally conservative Swiss banker. It's convincing, but let's hope he's dead wrong.

http://www.mmnews.de/index.php/200910043905/Gold-Silber/Gold-vs.-Paper-Money.html

"Humorous" letter to Fox News

Their stock picks by the "experts" in their show Bulls and Bears has been abominable, and they are joking about it on the air. I find that morally reprehensible, and a whisker above defrauding viewers a la Madoff. I certainly don't see any humor behind it. I'm sure many people watch the show and take their recommendations seriously, losing hard-earned money. So I felt compelled to write this email to them.

Seriously, you clowns are unbelievable. You're laughing on air at showing 98% losses on your predictions?

If you're going to recommend crappy stocks, why don't you at least tell potential viewers to use trailing stops?

And now all you can do is report whether GM should be bailed out or not, when the money has already been made shorting GM for the last 18 months. Perhaps you should instruct viewers to read publicly available financial statements to understand GM was burning $6.9 billion a quarter and was running out of cash. Or perhaps maybe you experts should read them yourselves. Perhaps you should have reported about GM last year, instead of their implosion--after the fact. Gee, their stock is down 90%--NOW you report about it?

You may want to consider upgrading your bubbleheads and interview real experts who are putting their money where their mouths are. People like Bill Gross, Warren Buffett, or Jim Rogers. After all, why the hell should I listen to journalists who couldn't rub two nickels together?

BTW, I've been out of the market since the summer, and am up 95% since November on gold mining shares. Not only have I saved myself from a 50% haircut, I'm up and bottom-fishing. But this is not about me. It is unconscionable that viewers listening to your advice are as well off as investors with Bernie Madoff. Your collective recommendations are no better. Think about that before you demonize Madoff.

Speaking of stocks, could it be possible you could expand your coverage beyond equities? What about the strength of the Swiss franc or the yen? What about the debasing of the US Dollar? What about the next bubble in T bonds? Or is waiting for it to happen ex post facto your forte?

On second thought, please don't change your format, because you are a perfect contrarian indicator. Whatever your "experts" predict, any sane viewer would do the exact opposite. The financial ignorance of the American public is a given. Thanks to media outlets like your shows, you're guaranteeing their destitution.

Thanks for the amusement.