Exchange Currency

Gnomes of Zurich

A colloquial and derogatory term used to refer to bankers and financiers from Zurich, Switzerland. The word 'gnomes' comes from Western folklore defined as imaginary beings that live underground and are accompanied by their wealth, and has therefore been applied to Swiss bankers due to their occasional adoption of secretive policies. This phrase was coined in 1965 by the British politician, Harold Wilson. At that time, he blamed Swiss bankers for pushing down the value of the Pound through speculation on the foreign exchange markets.

Related information about Gnomes of Zurich:
  1. Gnomes of Zürich - Wikipedia, the free encyclopedia
    Gnomes of Zürich is a disparaging term for Swiss bankers. Swiss bankers are popularly associated with extremely secretive policies, while gnomes in fairy tales ...
     
  2. What are the Gnomes of Zurich?
    Dec 26, 2008 ... The "Gnomes of Zurich" is a euphemism for Swiss bankers. The name is meant as an insult because gnomes, most often found in fairy tales ...
     
  3. BBC News - Why are Swiss bankers called gnomes?
    Feb 25, 2010 ... Emerging from a crisis meeting at which the Labour government discussed the plummeting pound, Brown snapped: "The gnomes of Zurich are ...
     
  4. Switzerland: The Gnomes of Zurich - TIME
    Pince-nez aquiver on his nose, the elegant banker leaned across the wood-inlaid desk in his Zurich office last week and complained: "We have been called ...
     
  5. From the Gnomes of Zurich ... - NYTimes.com
    Jul 21, 2011 ... From the Gnomes of Zurich … … to the Underpants Gnomes of Frankfurt. Commenter jeevmon (seconded by several others) reacts to my 1937 ...
     
  6. The Gnomes of Zurich are tools of the Zionist Conspiracy!! « Sister ...
    Oct 8, 2011 ... Bias? What Bias? CHRISTI PARSONS (Chicago Tribune): Thank you, Mr. President. And congratulations, by the way. One quick follow-up– ...
     
  7. The Gnomes of Zurich Will Have Their Revenge - Seeking Alpha
    Nov 20, 2008 ... The “Gnomes of Zurich” scored a great victory over the dollar's defenders in the 1960s. Now their time looks to be coming around once again.
     
  8. Gnomes Of Zurich | Free Music, Tour Dates, Photos, Videos
    Gnomes Of Zurich's official profile including the latest music, albums, songs, music videos and more updates.