The 11th anniversary of the Great Devaluation of the Czech Crown, which came on the 107th anniversary of the Great October Socialist Revolution, went by on Thur. without much notice due to the U.S. elections and collapse of the German coalition. The Czech National Bank ended what it called its "currency commitment" on April 6, 2017, but it never reversed the devaluation itself. Instead, the CNB under Jiří Rusnok launched an interest-rate revaluation and drove its benchmark rate to 7.0%, making bank owners richer and Czech homebuyers poorer. New CNB Gov. Aleš Michl criticized the devaluation and higher interest rates, but he never did anything to unwind the devaluation either. He's instead using part of the dollars that were bought with Kč 2 trillion in newly printed crowns to invest in U.S. stocks. The CNB is doing this just as Warren Buffett of Berkshire Hathaway is reducing his own stock holdings, in part because he thinks stocks are overpriced. Instead of buying up the extra crowns as a way to return to Czechs the value the CNB took from them with the devaluation, Michl is gambling the money on the stock market.