This morning I opened the local newspaper and jumped right to the economic pages, as I do everyday. I only glance at the treasuries, precious metals, commodities to gauge the temperature of the patient.
And I stopped unbelieving what I was seeing.
The Swiss ten year bond noted at 0%, same as the US ten year treasury. Switzerland has long ago gone into negative interest territory, bottoming at minus 1.10% sometime in this August.
Did the economy just unfuck itself overnight?
I have gotten used to the fact, that my dear Schweizerische National Bank (Central Bank of Switzerland) has done its very best to absolute drown us in new currency since 2009, that it was the first Central bank to actually introduce the concept of negative interest, spearheading this final stage of the screaming economic nose dive into the shitter. I was shocked.
It turned out it was a miss spelling, I was not dreaming.
We are still somewhere at minus 0.70%, whatever the hell this in the end will mean to the everyday people who trusted this system to store their labour value, their lifetime. No one can actually foresee how this giant monetary experiment will end, there are far too many variables than anyone can anticipate.
Too my untrained eye it seems a little odd, that the SNB has expanded our base currency a whopping 12 fold since 2009, and is the major buyer in the fang stocks, so that every Swiss citizen is the proud owner of ca. 30`000 Dollar worth of US Stocks. If there was no heavy duty financial engineering involved, some David Copperfield moves, a pint of beer should cost You around 60 Dollars right now in Switzerland. Obviously that had not happened yet, or else there would be a beer strike very fast, one that catches on quickly.
We have to get back to sound money, and unfund these „Hampelmänners“ and return to the basic principles of a sound economy. A headon attack would not be the right way to go about it for they have all the nukes.
I suggest a much more elegant move, outflanking the nukes with Bitcoin.
Ceteram Censeo, Argentum Fiat delendam esse (Cato the elder used to close every meeting of the Senat with the famous words “ceteram, censeo cartaginem delendam esse" until Cartago was attacked and destroyed)
