Over four years our association of Austrian Economists from Switzerland, Germany and Austria and helpful hands all other all over the world expressed opposition against the CHF/EUR peg or “CHF cap” in in-numerous different pages.
The posts track the strong Swiss economic performance over these years and that this is absolutely not in line with the desire of the mainstream to make our currency weaker. As opposed to the mainstream, we think that a strong country like Switzerland also deserves a strong currency.
The background or encyclopaedia pages detail the relevant praxeology, our Austrian reasoning, which is so different from the one of mainstream. As opposed to the mainstream hedge funds (what Austrians call “Risk Funds”), we explicitly mention benefits and costs. This mean we mention both long-term benefits and with each measure of expansionary monetary policy the associated risks.
+++NEWS++ 2015-01-15+: The Swiss national bank (SNB) Has decided to Accept the ideas of Austrian Economics and Sound Money. The SNB Is ready to consequently fight the Enormous money and credit bubble, The Massive real estate bubble and Sooner or Later Upcoming Future price inflation With sound money And a !!! Strong Currency!!!
Yearly Money Inflation (M3) 8.1% y/y, Avg. Yearly Credit Inflation 3.9%,Swiss Price Inflation: Fortunately STILL Y/Y: -0.1% y/y (thanks to SNB falling again, but anyway still higher than in the Euro zone)
Other HICPs Y/Y: Eurozone
1.1 0.9 , 0.7,0.5 0.4% -0.2% Spain: 0.5 0.3, 0.2, 0.0 -0.2% -0.5%
Dr. Thomas Jordan, Chairman of Our Swiss National Bank, the leader for implementing price stability after far too many years of monetary expansion, said on November 23 2014 (in response to the gold referendum):
Money is sound when it fulfils its functions as a means of payment and store of value as smoothly and reliably as possible in people’s everyday lives. Sound money retains its value and is generally accepted. It also makes an important contribution to social harmony and material prosperity. Sound money is therefore a central pillar of our society. The mandate of monetary policy is to ensure that money remains sound. Consequently, the Swiss National Bank (SNB) bases all of its activities on this mandate.
For Reference: Link to Site of the SnB
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