Hi all,

CS is the bank that warned me when I bought silver at 25 telling me it would be 20 within the next 6 weeks. I sold it at 42. I wouldn't get your knickers in a twist. Personally I think we're just coiling and building energy for a 45 jump soon.

Also, MF Global... what to say... the hedge fund I often metioned I worked for used to own MF Global and then sold it off so they could concentrate on their hedge funds (notably the AHL black box). I believe at the time they raised about 3 billion and were a bit disappointed with the IPO. Looks pretty good now. Of course, the main company has itself struggled drastically and as predicted by me (I said that once you start making the creative and/or combative staff members redundant, the writing is on the wall) they are in a deep dive. I think the share price has gone from around 6 pounds to approx. 1.40 today... and that's 'blue chip'. I didn't think much of the guys from MF Global at the time as they made money, but not Hedge Fund money... but well, neither of them really make money now! I predict that many of the Hedge Funds will see similar fates soon.

I'm not sure if I agree with this statement Priggly: "welfare of their imploding nation" as Switzerland is not suffering from weakness and debt, but from strength and a lack of debt. I mean I live here and if this is struggling & imploding, I'm missing something.

The actions by the SNB were dead wrong in my opinion, but they had to do something to stop the Hedge Funds and other speculators from inflating the currency too fast and too hard. In many ways it worked so far. However, as Italy now looks like the next clear sick man and the EUR is realing from one crisis after the other, the 'peg' of 1.20 cannot remain forever. I say they get into the printing game and use the strength to buy resources like China does. Better way to keep the currency stable.

The same Hedge Funds that were playing with the CHF have caused the issues in Ireland and Greece... Italy is next and then I believe they will be brave enough to attack the UK. Look at the U's debt load and anemic numbers... they are looking greener all the time and Cameron can't do a think to stop it (that is except to act like the USA and get the press to concentrate elesewhere). It's too late for austerity measures. Bread and Circuses folks...

Soul