“We are supposed to forget that the Swiss had one of the great currencies in the world. Instead, we can see from this article that the Swiss seek the validation of the Chinese renminbi. Once, the Swiss franc was linked to gold but the Swiss destroyed that link a decade ago. Then the Swiss placed a ceiling on the franc to ensure that it wouldn’t go much past the failing euro. And now the Swiss want to become a renminbi hub. ‘The prestige and profits of becoming RMB conduits …’ Once upon a time there was prestige and profit in trading the Swiss franc. The Swiss had a reputation for probity and privacy. But the US attack has cracked open Swiss privacy and devastated private banking.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
How Intelligence Was Twisted to Support an Attack on Syria
The Real Story of the Cyprus Debt Crisis
Revealed: Doug Casey’s Next Crisis Investment—Cyprus
G. Edward Griffin on Bitcoin with Max Wright and Trace Mayer
Panetta: US Has 'Responsibility' to Support French Offensive in Mali
US Photo Enforcement Market Becoming Less Profitable
FDA halts U.S. poop transplants pending further review
Crisis and Opportunities: An Elliott Wave Overview of the Markets
The CIA Retains Control of Drone Assassinations
The man who stood up to the NSA, Ladar Levison Lavabit founder
Senate Shuts Down Rand Paul Filibuster Against Surveillance Act Renewal
Cisco Won't Buy Any US Companies Or Hire Any US Workers Until The Tax Code Is Changed
After 2 Years And No Charges, Video Shows Louisiana Cop Executing Merchant
Jim Rogers: China investment opportunities today
WWW inventor: Government surveillance worse than outright censorship