The Swiss Franc Ties Itself To The Collapsing Euro in Double Suicide
By: Jeff Berwick
Sep 07, 2011
Is it any wonder gold is bumping up near $2,000/oz?
After all, where else are people going to go to hide from the coming fiat currency collapse? The euro is on it’s death bed. The Swiss National Bank just announced that the Swiss franc will go down with the euro if need be. The US Government is already beyond bankrupt and the Federal Reserve has been Quantitatively Easing the dollar into worthlessness and they are both just hoping the euro goes first so they can blame the whole train wreck on them.
All of these central banks and governments have the same two options. Allow their currencies or governments to collapse. Or, inflate their currencies a little while longer and hope to get out of office soon before the whole thing comes crashing down in a smoking pile.
Politicians always choose the easiest way out. The easiest way out is inflation…
Anyone smell QE3?
If so, at this stage in the game, more inflation will almost certainly lead to hyperinflation and the complete collapse of the fiat currencies and the great majority of the economies of the western world.
And, UBS is correct. These type of things usually lead to massive social unrest and civil wars.