DislikedI do not agree with you that the snb do the perfect work. They must know that they had profited from the success of other person.
If Jordan does the good job, he never say the echf overvalued but in reality he ordered to sell it.
He is not ashamed to talk it.
Remember that under his management, the echf goes always 1.2010 – 1.2013 for a long time.
Remember that he says: from open time of the sun to the closed time of the moon, he will protect the floor, but in his hour the floor breached under 1.2 even for shortly.
In the worst time when...Ignored
1) Funny fact: Did you know, that defending a floor doesn't mean, that the price can't go under it. OF COURSE it can!! And when it happens, SNB will take step, and move it back up. What is the problem , you got stopped at 1.199999?!
2) This is a free market, and something like this peg, shouldn’t even existed. You are blaming him for what directly? That your long isn’t working? That he hasn’t said “Man, traders are cool, let’s set EUR/CHF at 1.40, let them have some nice money, fuck the Swiss Economy!”. He just said that minimum exchange rate at 1.2 is effective way to protect Swiss Economy; SNB took EUR/CHF form under 1.00000 and is keeping it still above 1.2. Where is a lie here? Of course it is CHF is overvaulted but it is market role to discount it price, not central bank, unless you are from some post soviet country with centrally managed economy, than sorry, I understand why You would like the government to do the whole thing :>
Btw I am from post soviet country also, not to ofend anyone