by George Dorgan
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SNB Balsheet Week June 1st[/caption]
Currently we are leading our bet of 30 plus bln. CHF printed per month against ZKB's Marmet, who thought that the inflows into Switzerland will slow.
In a recent post we gave a wrap-up of the intense Swiss discussions about the floor. We argue in this post that it was Jordan himself (and the IMF policies and Swiss GDP), but not Grübel who triggered the big safe-haven flows into Switzerland.
Remark: The Tagesanzeiger (and Marmet ?) spoke of a flattening dynamics of inflows, however they got mistaken in their arguments. They use monthly averages as argument that flows are flattening, which is flawed.
Weekly averages:
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: Deposits,floor,franc,IMF,Jordan,monetary data,SNB sight deposits,Swiss National Bank,Switzerland,Switzerland Money Supply
