Tag Archives: Currency Wars : Switzerland’s Franc Fire-Sale In Favour Of The Pound-Rush

John Ward – Currency Wars : Switzerland’s Franc Fire-Sale In Favour Of The Pound-Rush – 4 January 2013

John WardOnly a madman would invent the econo-fiscal system we have. Or a neocon.

‘Any thoughts on how we get out of this mess?’ wrote Ambrose Evans-Pritchard, as he rounded off his piece yesterday about the Swiss buying all the Sterling they could lay hands on in a swapathon for the Swiss franc. It is something of a pointer (towards how dysfunctional the global economic system is) that one of the richest nations in the world is buying the currency of a tiny bankrupt country in order to avoid going bankrupt itself. But I’m sure Milt Friedman would’ve had the answer to that peevish criticism. We just need to wait patiently while Dan Hannan finds the mots justes among his collection. Continue reading