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1.16.2015 Swiss Fall Out Bookmark

The move by the Swiss National Bank to remove the peg from the Euro, has tossed a lot of the global currency markets into a frenzy. Already we've seen two currency brokerages go bust and there's certainly more to come. FXCM has been halted since the pre market as they too try and figure out if they can remain solvent.

The move by the Swiss National Bank to remove the peg from the Euro, has tossed a lot of the global currency markets into a frenzy. Already we've seen two currency brokerages go bust and there's certainly more to come. FXCM has been halted since the pre market as they too try and figure out if they can remain solvent.

But the real fall out over what the Swiss did is not just the currency traders. They told everyone that would listen that they'd do "all it takes" to keep that peg in place, and thousands of people made value decisions based on those statements. Then out of the clear blue they tossed them all under the bus. Who will ever trust a word a central banker ever says again? Hell, I don't trust them now, let alone after watching that back stab. Watch for more fall out over the weekend.

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