The SNB can control the Global Forex markets and losses 8 Billion.

Reuters:




Swiss Central bank repeats will fight franc appreciation

Sun Jan 17, 2010 9:08am EST

* SNB will fight excessive franc appreciation resolutely

* Deflation continues to pose risk to Swiss recovery





Reuters:

SNB says FX intervention a success, sticking to policy

Tue Mar 23, 2010 8:15am EDT

* SNB chairman repeats cbank's intervention threat

* Says will not allow deflation risks from franc rise



This is from an important annual presentation. There is no equivocation here regarding the threat of deflation in Switzerland.









Speech by Mr Philipp M Hildebrand,

30 April 2010.

Any threat to this currency stability would, by definition, have a negative impact on Switzerland, above all if the Swiss franc were to appreciate sharply due to its role as a safe haven currency. The SNB will not, however, allow such a development to turn into a new deflation hazard for Switzerland. For this reason, it is acting decisively to prevent anexcessive appreciation of the Swiss franc.





HILDEBRAND, MAY 11

"We will not allow any excessive appreciation that might generate deflation risks".