Gold holding firm in terms of the Swiss Franc

Note the chart of gold priced in terms of the Swiss Franc. While it is sharply lower today as the Central Banks of the West declare war on the metal, it has only retraced about half of its strong gains made against the Swiss Franc after the Swiss National Bank effectively devalued their domestic currency on Tuesday of this week. While the SNB set about to debauch their currency, those Swiss wise enough to have accumulated gold have fared quite well as their wealth has been protected.

This is what gold does historically  - it serves as a haven against the depradations of Central Bankers, monetary officials and inept political leaders who look only at the short term and do not focus on the longer term. This group of leaders seem intent on plundering the wealth of the citizens of their nations.

Carerfully compare the two charts and you will see that gold's strong, sustained rise against the Swiss Franc began exactly on the same day that the SNB first announced efforts to derail the strength in the Franc. It moved steadily higher, retraced some gains and then exploded into new highs Tuesday of this week when they effectively devalued their currency and destroyed its safe haven status in the process.