Swiss Tribal Wealth

Thomas Jordan, the current Chairman of the Swiss National Bank (which is their Central Bank) is a fairly recent appointment (2012).

His predecessor, Philipp Hildebrand was forced to resign due to some forex market trades his wife had made that some people suggested were based on her possible inside knowledge of what the Swiss Central Bank knew or was doing.

A Lamborghini in Switzerland,

on cobbled streets!

The reality is that the US Department of State had been agitating for a very long while to destabilize a whole series of global financial structures – from the Bank For International Settlements, to the SWIFT system, and the Prudential Standards Committee (for global banking) – and some covert arm of the US was highly active to undermine Swiss banking secrecy with the effect that dozens, quite literally dozens of private bankers whose client lists had been made public, became adversely affected, some fatally. Whether you care to say ‘suicided’ or ‘causes unknown,’ or ‘mysterious,’ the fact remains that dozens – mostly young or middle aged - have died.

As some of you will know I pointed out on the Wall Street Bear board more than a week ago, that there was a suspicious pennant top forming in the gold price and I asked the question, ‘well, why?’

Jordan has removed what his predecessor had implemented – the euro peg - and Jordan’s post-doctoral thesis is all about the potential downsides of the euro currency and sovereign debt default.

I would love to see Dr Martin Coward’s new Malta located hedge fund dormouse’s betting sheets just before the announcement...

Or his ex-wife Elena Ambrosiadou’s. Or ex-Swiss National Bank chief Philipp Hildebrand’s forex bets in recent weeks.

Of course, speaking of wives and ex-wives, Hildebrand is now married to the one-time Russian wife of the late French Billionaire Robert Louis Dreyfus – Margarita. And she is a multi multi billionaire.

Seefeld in the evening...
Not Switzerland, but full of Swiss Bankers.
See how the lights are golden?

And so we have, Elena the ex-Russian/Bulgarian-pretending-to-be-Greek computer expert billionaire, and Margarita, the overt Russian business genius, and also billionaire, swanning around the ski slopes and seaside resorts of Europe wondering where to stick their cash

The question is though, how long will Jordan survive if he isn’t buying euros like the dog whistlers in Washington and New York want him to? He doesn’t have a rich Russian or Chinese spy wife or mistress, for one thing, not that that is either necessarily a good or a bad thing.

But it’s all getting exciting now, isn’t it. And that is what we need, more excitement. The sudden huge rise in the Swiss franc (ch), previously a currency famous for its very price stability against the global currency basket, has certainly emptied a few people’s most precious baskets!