You are right. Svensson was a peer of Ben Bernanke and Paul Krugman at Princeton.
The Swedish banks fared better than the US banks in the GFC so there was no need for Swedish QE.
The Swedish economy didn't need an interest rate rise. But the inflationistas in the Riksbank started dodging shadows. Svensson was voted down, and ultimately resigned from the Riksbank in disgust.
The FT can tell you the full story: http://www.ft.com/intl/fastft/227162/lars-svensson-1-sadomonetarists-0
"There is nothing to hedge it seems to many; as the paper seems to become more out of control."
If there is nothing to hedge (as "it seems to many") I can understand why the price of gold is flat.
