We publish the best posts by Dr Marc Meyer, who is one the biggest opponent of the Swiss National Bank.
Meyer, the banking professor Hans Geiger and the publisher of InsideParadeplatz.ch , Lukas Hässig represent the big journalistic opposition against the SNB. Analogously to Macbeth’s three witches, I sometimes call them the three Swiss sorcerers that fight against the seemingly unlimited power of central banks.
Marc Meyer provides the deepest insights, he dares to completely condemn the vocabulary of the modern monetary theory. We shall see that his balance sheet-related theories are very close to the ones of Michael Pettis and – as readers may have recognized – very close to my ones, as well.
Given that his arguments are purely based on balance sheet logic, Meyer is outside Academia. As opposed to Pettis, he did not enter the English-speaking literature, remained completely unrecognized by traders, banking analysts and even central bankers. But he is well recognized by rich Swiss Germans that feared investments in foreign currency and that preferred bonds and stocks denominated in Swiss francs.
At the SNB shareholder meeting in April 2014, the president of the SNB governing council Studer ridiculed his presentation. Studer said that Meyer has been wrong since 1997 and he will always be wrong.
Strangely Meyer was right on January 15, 2015 and continues to be right. Meyer’s posts in this sub-chapter are retaken from Inside Paradeplatz. Our team aims to provide full translation for most of his texts.
See more for