Deflation! … The Swiss Surrender

The meme is strong in this one, apologies to Star Wars. Every time we turn around, we’re seeing more mainstream reports about the dangers of deflation. Now, having rejected their gold referendum, the Swiss have de-pegged their currency from the floundering euro … just as the ECB’s Mario Draghi is getting ready to pump a trillion or so in new currency into the eurozone. It seems like a natural move, something that had to be done. But notice how it enforces the larger meme. So much of the