In this excerpt from our 1-hour interview, financial analyst Martin Armstrong explains that he met with the people at the Swiss National Bank much before January 15th, when the Swiss peg to the Euro was removed. "I told them: ‘This is not going to work, your peg is going to break’. They said ‘This time it's different, we are going to hold it’ but Martin answered ‘Nobody has been able to in history’.”
"When you start manipulating markets, and that is a manipulation”, explains Armstrong, “the problem becomes that when it does break, I think it goes down percentage-wise more than it would have if they had just allowed it to be alone."
This is a reflection of the problems that governments have, says Armstrong: "Money will move from one area to the other based on confidence". His view is that the Swiss should have adopted a two-third system, where there is a financial rand and a domestic rand, like South-Africa did. “But Pegging the entire currency is just gonna fail!”
Watch our full 1-hour interview with Martin Armstrong.
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