Wednesday, August 3, 2011

Swiss franc update: SNB Intervenes To Lower "Massively Overvalued" Franc

Zerohedge: Leaves Gold As Only "Safe Haven" Currency

The Swiss central bank "unexpectedly" intervened to curb the record appreciation of the Swiss Franc which is having Swiss exporters seeing black and blue, by saying it would cut rates and by increasing the supply of francs to money markets.
Which leaves those seeing a non-fiat based refuge from all the insanity in Europe and the rest of the world, with just one option. Gold.

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