Swiss central bankster intentionally devalues currency

You’ve bought Swiss francs only to find out the Swiss government is intentionally devaluaing the currency to prevent it from appreciating. The International Herald Tribune says a strong franc makes life harder for exporters. Oh no! We wouldn’t want to hurt exporters, just the millions of people who own Swiss francs. (Thanks to the Mises blog for reporting the devaluation.) I also read that the currency could face a huge devaluation due to bad loans by Swiss banks to borrowers in Eastern Europe and Russia. If the Swiss gov’t needs to bail out the banks, which happened in Iceland, the gov’t will print billions new Swiss francs and this will devalue all other Swiss francs in circulation. Could it be that bankers of the world want Switzerland and Iceland and some of the Danish countries to fall in line and embrace the Euro? It would be so much easier to devalue just one currency.

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