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Switzerland Central Bank
The decision by Switzerland’s central bank to devalue the nation’s currency by pegging its exchange rate at 1.20 to euro – at a lower level than previously set by the free market – and to “print” an unlimited amount of francs to finance purchase of foreign currencies, is the latest sign of panic by global policymakers. [Read more...]
Since equity markets bottomed in July, US stocks have risen about 17 per cent – but China-listed shares have done much better, climbing about 24 per cent. Yet that has happened despite very different financial environments.
In the US the American central bank (“the Fed”) is flooding its system with money, deliberately aiming to promote a stock-market boom whose “wealth effect” it hopes will stimulate consumer demand, strengthen economic recovery and create jobs. [Read more...]
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