15-01-2015, 03:46 PM
Back in December the SNB introduced negative interest rates. In other words holders of swiss francs had to pay the government a rate of interest just to hold the currency. This is not the first time this has happened. It seems that this action did not have sufficient impact to reduce the demand to a sufficient level.
According to a report carried by the BBC, the SNB said:
I could easily be wrong, but my take is that the biggest influx of holders over recent times has come from Euro nationals due to growing concerns about the Euro's longevity - and this action is intended to force them to divest from the CHF.
This is confirmed by the following comments from the above BBC story:
According to a report carried by the BBC, the SNB said:
Quote:In a statement, the SNB said: "The current massive overvaluation of the Swiss franc poses an acute threat to the Swiss economy and carries the risk of a deflationary development.
I could easily be wrong, but my take is that the biggest influx of holders over recent times has come from Euro nationals due to growing concerns about the Euro's longevity - and this action is intended to force them to divest from the CHF.
This is confirmed by the following comments from the above BBC story:
Quote:"This turns up the heat on the eurozone and other economies who have benefited from weakening their currency in the past couple of years."
The shadow is a moral problem that challenges the whole ego-personality, for no one can become conscious of the shadow without considerable moral effort. To become conscious of it involves recognizing the dark aspects of the personality as present and real. This act is the essential condition for any kind of self-knowledge.
Carl Jung - Aion (1951). CW 9, Part II: P.14