Replying to Avatar frphank

> As a result of the financial crisis of 2008, the Swiss National Bank could no longer suppress the upward pressure on the franc in 2014 and the fallout was inevitable.

Wait what? The value of fiat went *up*?? I thought central banks were these evil entities that steal by depreciating the value of money. Up is good down is bad.

So which one is it now, is up good or bad?
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TheBitcoinBattery 1y ago 💬 1

Hey bud. Your energy seems a bit "gotcha!" when nothing they said contradicts what we know to be true a out central banks and devaluing fiat currency. You okay?

To answer your question. The value of one fiat only went "up" as measured by another fiat. The reality is they both fell in value, the Swiss frank just fell more gradually compared to the Euro that Austria was using. Both lost value to Gold however.

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aivii 1y ago

CHF is a safe haven currency as it inflated less rapidly than other currencies; hence, the upward pressure against the more rapidly inflating currencies such as EUR.