John Lounsbury - Comments
Managing Editor/Co-Founder of Global Economic Intersection
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John Lounsbury is the managing editor and co-founder of the Global Economic Intersection. Global Economic Intersection (Econintersect.com) focuses on the economic effects on finance, investing, social interactions, and politics/public ... more

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Zurich Turns The Euro Into Swiss Cheese
6 years ago

I have updated the original article to include the comments below. econintersect.com/.../zurich-turns-euro-into-swiss-cheese

In this article: EWL, FXF, FXE
Zurich Turns The Euro Into Swiss Cheese
6 years ago

Thanks for you comments, Moon and Jack.

@Wall Street Jack: You point out a significant omission from my article - I discussed only macro issues and did not mention the micro turmoil as several broker firms in the forex space were wiped out because they were not hedged against the vicious swing in the Swiss franc and related large ripples in other currencies.

I am seeing lots of articles, from bloggers, financial pros and academics warning of potential for major economic damage from this action. It has been compared to the Lehman collapse and the Nixon killing of the remnants of the gold standard. I don't see that type of contagion. You can (and I know Moon will) point out my foolishness if I turn out to be wrong in this assessment. :-)

In this article: EWL, FXF, FXE
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