by George Dorgan
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As we explain here, Target2 (im-)balances and SNB currency reserves represent the same concept, namely capital flight/movements (in a positive and negative sense) and current account imbalances. While Target2 numbers for Germany and Northern Europe go down, SNB reserves remain the same, only 3 billion CHF away from record highs and poised for another big inflow in May (see why). They fell only slightly to 427.05 bln. CHF, at the end of January from 427.20 bil. CHF
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George Dorgan (penname) predicted the end of the EUR/CHF peg at the CFA Society and at many occasions on SeekingAlpha.com and on this blog. Several Swiss and international financial advisors support the site. These firms aim to deliver independent advice from the often misleading mainstream of banks and asset managers.
George is FinTech entrepreneur, financial author and alternative economist. He speak seven languages fluently.
Tags: Target2
