The Currency War Has Officially Begun

Posted by Catherine McLean comment by Peter Grandich

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The news of the Swiss government’s intervention in the currency market is far bigger than most can even imagine. The author of this article copped on to that. The currency war has officially begun. A key benefactor should be gold. – Peter Grandich

Switzerland move threatens currency war


Switzerland is moving aggressively to weaken its franc and protect exports from watches to chocolates, sparking fears of an escalating currency war that would ripple through markets and other economies.

For months, the Swiss National Bank tried to rein in its surging currency by lowering interest rates and injecting francs into the market, but that did little to dissuade investors who viewed the franc as one of the few safe places to keep their money in a world of economic turmoil.