For years we have heard how American politicians were against currency manipulation by China, as a country that openly manipulating its currency, they just do not pay attention. In September, we will celebrate the third anniversary of the Swiss National Bank (SNB), and a survey of Bloomberg, which was attended by 23 economist, showed that 75% of them predict that “sex” will be maintained at around 1.20 2 more years.
President of the SNB, Thomas Jordan said last month that the upper bound rate will remain in place in the “foreseeable future.”
Never in the history of Bloomberg were not mentioned political risks. What makes Switzerland openly violate trade agreements, but no one notices.
Ministry of Finance of the United States did not even used the word “manipulation” in its report on currency manipulation in the first half. Summary of Switzerland quite a voucher:
“Paul” of the exchange rate led to a decrease of deflation and economic stability in general. As soon as the economic situation is normalized, it would be desirable to return to a free-floating currency. “
“It would be desirable !?” And it says the most powerful military and financial organization in history.
As for the current account surplus, the Ministry of Finance United States shall make every effort to explain the surplus of Switzerland, amounting to 13% of GDP, one of the highest in the world. One of the reasons, which he calls the Ministry of Finance, are secure flows of capital, but this is not an argument. Other – is as follows:
“Activities of international companies trading on the Commodity Exchange, can add up to 4% of GDP to a surplus, despite the fact that some of them have reduced the size of their operations in Switzerland.
This means that the country fulfills the gigantic scheme of evasion of sales taxes, and currency appreciation “upset” many.
What’s going on?
Here’s the answer: In Switzerland rather “dirty” money to influence any political party, or the scope of the lobby in the world. Swiss politicians know it, just like any other government.
As a compromise, the country began to “slow down” some of his most resonant disturbances. We do not mean the Greek accounts that looted the country (list Lagarde does not appear anywhere else that proves the need for more serious conspiracy). We have in mind the larger the “crime”, in particular with regard to North Korea, or the Mexican drug cartel.
Any other information that the government can get from Switzerland in exchange for support of an artificial currency will be used to defeat the domestic political opponents.