Brian Kelly

The Curious Case of Missing Intervention

Joseph

You make a very good point on the need for a coordinated effort and the need for China and GCC to be a part of that effort. And Bruce, I think your point about the SNB attempt to weaken the Franc is spot on.

I have been skeptical of the SNB's real motivation - it seems as though they are just trying to talk the Franc down or at least keep it stable. It is not in the interest of the Swiss banking system to have a weak and unstable currency.

I wonder if either of you have thoughts on the motivation and ultimate outcome of the Swiss "intervention"?