Wednesday, January 4, 2012
Swiss National Bank: Totally corrupt and arrogant!
Back in August, Kashya Hildebrand, the wife of Swiss National Bank Chairman, Philipp Hildebrand, put on a sizeable long USD/CHF position. That was a little more than a week before the SNB sold massive amounts of Swiss francs.
So far, the SNB Chairman has had little to say about this other than to comment that the media reports about his wife's activities were "partially incorrect."
His wife obviously knew of the SNB's intention to lower interest rates to zero and sell billions of Swiss francs. She was tipped off.
Another blatant example of central bank corruption. (Like the Fed's trillions $$ in loans to banks and other financial sector cronies.)
Meanwhile as they profit obscenely from this cronyism, these central bankers scold governments on the need for further fiscal consolidation, austerity and similar measures designed to take public wealth away from working people and hand it over to the financial elite.
Read entire article here.