The Swiss National Bank (SNB) shocked the financial markets yesterday by announcing that their Swiss Franc would no longer be pegged to the Euro.
The shock grew in intensity when they further announced, not only would they continue with the NIRP (Negative Interest Rate Policy) but they were in fact going to steal even more currency from savers by dropping their negative interest rate from -0.25 to -0.75. Which of course means that if you had the equivalent of $100,000 in the SNB this morning, this afternoon you would have lost $750–in one day!!
Craig explains all the details and implications of the Swiss leaving the Euro behind and “saving themselves”. Since 2008 the entire financial world has been turned upside down. In late 2011 the Swiss decided to peg their currency to the Euro, in essences giving up their national currency for the debt and death soaked Euro experiment. Keep in mind that England, the home of the Bank of England, is not a member of the European Union nor do they have their currency tied (pegged) to the Euro. That is a story for another day but it is very important to the overall central bankster theft of nation states like Switzerland.
When the Swiss pegged the Franc to the Euro, the Swiss people sold their sovereignty to the European Union. Approximately 22% of the people wanted their sovereignty back and voted on November 30, 2014 to repatriate their gold and reclaim their nation. Unfortunately, the other 78% (less the people that did not vote) said they were perfectly happy being debt slaves to their overlords at the European Central Bank. Thomas Jordan, the President was actually campaigning AGAINST the gold repatriation movement, which in light of today’s announcement seems to be a contrarian move!! Why would vote against reclaiming your gold and then do a complete 180 degree turn against your own policy!!! This seems like it is going to have an ugly ending.
Craig guides us through all the twist and turns of what has happened, why he believes it happened and what the Central Planners may have up their sleeves.
What about all that gold that has been leaving the London vaults, 26 MILLION ounces BEFORE the end of 2013, the vaults were empty back then and China is building 2,000 metric ton vaults “all over China” to filled with something.
What role is the Shanghai Cooperation Organization going to play in upcoming paradigm shift? What do most of the Western world know about the tsunami that is virtually at the end of their block? How much gold and silver do you possess? Is it enough?