Currently, the Swiss National Bank beliefs that printing money and then buying Euros in order to support the 1.20 CHF exchange rate peg to the Euro is not going to initiate inflation, and that Switzerland would run into a strong deflation if it didn't. However, history proves the SNB wrong, again, again and again:

Hyperinflation s

Actually, in the 52 cases Cato institute inspected, all ended in hyperinflation. If you hold Swiss Francs now, hedge accordingly. And maybe, buy gold before the CHF goes parabolic. We can maybe have a few more tourists and export some more stuff, but in the end, everybody loses, and will need taxpayer money to stay afloat.