"Our central bank has done more than any of them. It created Swiss Francs to buy Euro...to try to keep the exchange value of the franc down and protect Swiss exporters."By last year, it had amassed the equivalent of about half a trillion Dollars' worth of foreign currency – or about 70% of Swiss GDP. Really, the Swiss National Bank is the biggest hedge fund in Switzerland."
"About $10 million. But if you're borrowing money at 1%...you're talking about a monthly mortgage of about $8,000."And with so many Swiss bonds now carrying a negative nominal yield, some of these mortgage rates are going down to zero. It's gotten really crazy."