This is about FX markets, note the SNB's decision:Once upon a time, there was a flea that was living on an elephant. They were happy together in the animal world as the young elephant was running around in the forest, jumping up and down, eating and sleeping well. The flea was happy too as he was feeding with good healthy elephant blood and all he had to do was sit and eat. But the elephant world was cruel and harsh – other elephants were also trying to feed themselves with the same food that our young elephant was searching. On the other side of the forest was living a much bigger and older elephant which had a lot of experience in searching and finding food. He was not at all young, fluffy and inexperienced as our young elephant. Instead he was hugely over-sized, with big long teeth and an enormous appetite for food. Nothing would stand in his way when he wanted to feed. He was THE king of all elephants. Time passed, day by day, week by week, years by years – our young elephant became much stronger, yet inexperienced and a little stupid while the flea grew and grew and grew to an extent that it could barely live on the elephant. One year, during winter, a weather ano…
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