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Home > About Us > In the News > Aug 3, 2010

In the News: Bloomberg

The Swiss National Bank (SNB) may be putting its economy on a "kamikaze mission," portfolio manager Axel Merk tells Bloomberg

"...

The risk for the SNB is that any further rally in the franc and weakening in the economy forces it to wade more deeply into currency markets, putting it on a 'kamikaze mission,' said Axel Merk, who oversees $500 million as president and chief investment officer at Merk Investments LLC.


'The power to print money, heavy foreign-currency exposure, may continue to create wide swings in earnings; we have already seen the SNB report losses as a result,' said Merk, who is based in Palo Alto, California. 'We’d rather have the SNB focus on sound monetary policy than a cat-and-mouse game with speculators they are bound to lose.' ..."