Monday, January 09, 2012

Nought's had, All's spent

A few lines from the Swiss National Bank document dump today which precipitated the resignation of the chairman, Philipp Hildebrand; they concern the financial dealings of his wife Kashya with the initial focus having been on her speculative transactions in dollars when the SNB was about to cap the franc rate against the dollar:

[notes of their private banker] Kashya mentioned that she may look at buying put options on gold soon i.e. when the time is right ... unfortunately Kashya won't be around on that date (dinner invitation) as she will be in Dubai attending some art business of her own ... 

[email from her to the private banker] "Dear Felix, as discussed we would like to get our dollar FX exposure up to 50 percent in our account ... kind regards, Kashya" ...

[philipp finds out about the currency trade and blocks it] "PS Kashya sorry about that but currencies really are a special case here"

No comments: