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!