The Swiss National Bank stunned the markets by ending efforts to keep the euro from trading below 1.2 Swiss francs. The result caused the euro and U.S. dollar to slide. In addition, U.S. futures, crude and other commodities, except gold also tumbled. So, get ready for more price instability folks.
Putin Strikes Back
Because of stiff sanctions, Russia cut off 60% of Europe’s gas supplies right in the middle of winter. To prop up their economy, Russia will likely covert their foreign-currency reserves into rubles. Russia may convert as much as 500 billion rubles which was the fourth worst performing currency in 2014. Things are definitely heating up folks.
While low oil prices are bad for Russia, China is using the low oil prices to buy up as much as Latin American and Russian oil as possible…
View original post 356 more words