Swiss Abandon Peg to Euro – The Euro is Dead – Long Live the Swissy – Armstrong

January 15, 2015

The Swiss franc has risen by almost 30pc against the euro after the central bank shocked global markets by abandoning its long-standing peg to the euro imposed in 2011. The Swiss had no choice. They have been buying Euro at alarming amounts as smart money bet the Swiss would be far better at the end of the day than a Euro. As long as the Swiss was pegged to the Euro, the Swiss central bank was locked into swapping Swiss for Euros all the way down. They were buying Euro as it collapsed losing a fortune.

Yes at the Berlin Conference we forecast that (1) Greece would leave (2) Swiss would abandon the peg, and (3) the separatist movements in Europe will gain momentum by 2016.

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