Rick Rule on oil and Switzerland ditches its currency cap
from Boom Bust The Swiss National Bank shocked financial markets on Thursday by ditching its policy of capping the Swiss Franc to the Euro. The unexpected move sent the safe-haven currency souring up as much as 41% against the Euro. Stocks plunged amidst fears of what this would do to Switzerland’s very export reliant economy. It was the biggest single-day depreciation in a major currency of all time! Erin weighs in. Then, Erin sits down with Rick Rule – chairman of Sprott US Holdings. Rick tells us what happens to capital investment in the energy sector when oil prices are this low and gives us his take on Qatar’s refusal to cut oil production, even at $40 a barrel. After the break, Erin is joined by Peter Schiff – CEO of Euro Pacific Capital. Peter tells us what he thinks of the move by the Swiss National Bank and gives us his take on if the Swiss should be afraid of an appreciating currency.