Friday, January 16, 2015

MARTIN ARMSTRONG'S LATEST BLOG POSTS

Black Thursday – January 15, 2015

SNB

It is being called Black Thursday. There was a tremendous natural short-position in the Swiss franc with all the people who borrowed Swiss to save on interest rates. True the saved interest. In return, the gained a 30% loss in currency.
SwissyThis natural short position from borrowing Swiss impacts mortgages in Britain down to Greeks borrowing Swiss. The same type of massive loss will unfold with the rise in the dollar, but this will be far more expensive to the world economy and will be one reason why we will see the next solution emerge after 2015.75 to move toward a one-world reserve currency.
A lot of emails are coming in and some say that the SNB heeded our warnings about the peg and the IMF. Perhaps. I do not know their reasoning not to tell the IMF. What I can say, yes, I have reported that the IMF is as corrupt as a $3 bill and any advance warning to them would have lined the pockets of many people behind the curtain. Yes, I had a meeting in Switzerland with a member of the board set up to manage the peg. Yes I warned the peg would collapse. Yes even in the movie I stated publicly that Republic National Bank’s Edmond Safra put on the dinner for the IMF in Washington and I was invited to show me how they had the IMF in their pocket to keep the loans going to Russia. This was before the Long-Term Capital Management debacle in 1998. Yes I warned them that it did not matter if the IMF would keep the loans to Russia going. This would collapse anyhow, So had the SNB called the IMF, every bank would have front-run the Swiss making it worse and they would have lost far more. So yes, my advice is DO NOT TELL the IMF anything in advance.
Beyond that, to transform that meeting into advice that was followed is a stretch. I cannot say what was followed and what was not. But that does not matter. Those who always want to blame me will do so anyhow. They should have killed me when they had the chance. All they care about is trading profits – not what they are doing to the world we live in.

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