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TeachMeFinance.com - explain gnomes of Zurich gnomes of Zurich -- slang referring to financial and banking people of Zurich, Switzerland, who are involved in foreign exchange speculation. The term was coined by Great Britain's Labour ministers during the 1964 sterling crisis. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.