– Dollar Drops To Record Low Against Swiss Franc (ZeroHedge, June 28, 2011):
It may not be gold, but it is the closest substitute to the shiny metal in the fiat space (where comparative devaluation is the name of the game once again). While the Swiss Franc has yet to retest recent lows against the euro, the USDCHF just touched an all time record low price of 0.8287, as today’s theme is once again wholesale shorting of the funding (note, not reserve) currency. In the meantime Swiss exporters continue to pretend that margin compression is something best left for the comic books. And after all, Tim Geithner made it all too clear at all recent G8 meetings that it is every country’s patriotic duty to welcome DXY 0 with open arms.