In response to:

The Biggest Loser

RickCaird Wrote: Feb 02, 2013 11:26 AM
In one short column Peter Schiff manages to destroy MMT (Modern Monetary Theory) and the Fed's plan to keep printing until unemployment is reduced. Both those only work by impoverishing the country. Both are Keynesianism on steroids.

In Switzerland, it's not just the clocks that are cuckoo. Over the past four years Swiss politicians and central bankers have gone on an unprecedented buying spree of foreign exchange reserves. In 2012, their cache swelled to as much as $420 billion worth of various currencies, primarily the euro. This figure is a seven-fold increase since 2008 and equates to 70% of the country's annual GDP. 

The sum translates to $200,000 per family of four, enough to keep the Swiss in clocks, chocolates, and fondue for many years to come. The Swiss leadership will claim the money has been "invested" with...