Switzerland is in panic mode. Nothing they have tried is preventing people from buying up every Swiss Franc they can get.
Why is that a problem? The things that Switzerland makes can’t be sold now. The strong currency will cause the Swiss economy to collapse because nobody can afford to buy the things they make.
The policy makers are considering “pegging” the Franc to the Euro, which would lock Switerland’s future to the Euro, at least temporarily. To hold back the rates, the Franc would have to be printed as much as the EU would exchange for Euros. The best guess is that would need Switzerland to create $700 billion Francs, essentially absorbing a large chunk of the EU.
It’s a tough decision. Fortunately, every citizen has a machine gun in their house in case locust plagues show up