I view this event as if the Swiss voted FOR the referendum on gold last year. The global currency war is alive and well. Central bankers know that western currencies are in trouble and they are seeking out a more stable "store of value" for their money. As we all know, the most stable "store of value" throughout all history is GOLD, so I'm sure this event will kick-off the NEW BULL MARKET in GOLD!
Hmmmmmm... I wonder what would happen if China removes its peg to the USD? BK
To celebrate the NEW GOLD BULL we are having a SPECIAL on 1oz Gold Bars.
$24.95 over spot
While quantities last.
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(Reuters) - Switzerland's franc soared by almost 30 percent in value against the euro on Thursday after the Swiss National Bank abandoned its three-year old cap at 1.20 francs per euro.
In a chaotic few minutes on markets after the SNB's announcement, the franc broke past parity against the euro to trade at 0.8052 francs per euro before trimming those gains to stand at 1.0350 francs.
It also gained 25 percent against the dollar to trade at 0.8900 francs per dollar.
The SNB has been resisting heavy pressure in recent months on the cap it imposed in September 2011 on the stellar rise seen in the franc's value
due to investors seeking a haven from the euro zone's economic and political troubles. Read more...
