Hello again Dinarian Friends,
Wow – the News today is MONUMENTAL about the Swiss Franc – it went up 40% today causing CONTROVERSY – check out this BLOOMBERG article…
Mayhem Erupts on Trading Floors After SNB’s ‘Currency Shocker’
By Julia Verlaine Jan 15, 2015 1:43 PM ET
At 9:30 a.m. today, trading floors across the City of London erupted.
Outbursts of obscenities and confusion followed the Swiss central bank’s surprise decision to abolish its three-year-old policy of capping the Swiss franc against the euro, according to traders in London’s financial district. The U-turn sent the franc as much as 41 percent up against the euro, the biggest gain on record, a move that one trader estimated may cause billions of dollars of losses for banks and their customers.
Dealers at banks including Deutsche Bank AG (DBK), UBS Group AG (UBSG) and Goldman Sachs (GS) Group Inc. battled to process orders amid a flood of customer calls and trade requests, according to people with direct knowledge of the events. At least one electronic currency-trading system temporarily halted transactions, adding to the mayhem.
“This is the biggest currency shocker in years and it’s likely to create more volatility in the short term,” said James Stanton, head of foreign exchange at deVere Group, a financial adviser that oversees about $10 billion. “Trading positions are extremely vulnerable and volume has gone through the roof.”
Deutsche Bank was among currency dealers to suffer disruptions to … CONTINUE READING
Also be sure to read my earlier post today on this and asking the question of where were our Hack Gurus (Tony TNT, Okie Oil Man, etc.) with their “insider info / intel” on the Swiss Franc? Don’t they always claim they have “high-level” intel on the Iraqi IQD Dinar? So, why not now? I’m sure they will come up with a reasonable lie for you to swallow hook-line-and-sinker! [LINK]
~ Mr. IQD