Pension Fund Losses.

As is my policy I don't deal in rumors and speculation as a general rule.

The caveat to this however, is that often times I'm exposed to various sources of information much of it political and strategy based that literally "paints a picture" of what could be happening in New Hampshire. And very recently I came across some information that does exactly this.

About the month ago the financial newswire picked up a story from Switzerland that has had catastrophic consequences here in the United States and, and, I believe here in New Hampshire.

The Swiss Franc was decoupled from the Euro Currency Unit (ECU); and once this happened and the Swiss Franc was free of all the debt and poor economic conditions in the EC it quickly increased in value.

And here is where the bomb goes off.... Swiss Franc increased in value. I think the NH Retirement System sustained losses and no one is talking.

Some major financial clearing-houses, traders and even pension funds were caught short. Meaning they had shorted "sold" futures contracts on the Swiss Franc or worse still had written "sold" call options on the underlying futures contracts where their risk and losses can be theoretically "infinite."  So let's put this in perspective: it's my understanding, as an example Alpari Capital in Manhattan lost $860 million dollars in a space of five hours and the bleeding continues on across the United States. Some traders have lost everything including their homes, cars and collateral they put up to enter into these foreign exchange (fx) markets.

So what does this have to do with New Hampshire?

I know for a fact that the NH Retirement System invests pension fund money into foreign currencies like the Swiss Franc. And I'm entirely confident that the NH Retirement System sustained financial losses when the Swiss Franc took off as it did.

Notice nobody is saying anything...... 

This is just another example of "us v. them" and the way NH State Government is run. Concord has become an entity to itself responsible to no one except the chosen few that are reaping all the benefit(s) of what the citizens of this state are providing.

Sen. Jeb Bradley has talked "about reforms" at the NH Retirement System.