Eric King: “Egon, with remarkable precision you predicted what turned out to be a 58-sigma market-shocking move by the Swiss National Bank. The former White House official, Dr. Philippa Malmgren, told King World News that faith in central banks has now been shattered after massive losses were incurred as a result of the Swiss National Bank going back on its guarantee to keep the peg in place.”
Greyerz: “We don’t yet know what the total losses amount to in the aftermath of the Swiss National Bank’s historic decision but we know they are enormous. The Swiss franc skyrocketed in seconds and the losses around the world are staggering and have already been sufficient to bring down foreign exchange houses and hedge funds. But the losses are impacting the bigger banks and the central banks as well.
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