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  #141  
Old 13.01.2012, 04:26
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Re: SNB chief resigns...

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That said, Hildebrand's monetary policy was catastrophic, and I'm frankly scratching my head reading the countless eulogies well-educated people have been posting in the press lately.

G.
what's so catastrophic about SNB's monetary policy? are you one of them who actually believes that they destroyed "volksvermögen (aka people's wealth)?
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  #142  
Old 13.01.2012, 05:04
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Re: SNB chief resigns...

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I don't get your point. SVP is a tool. They act opportunistic. As Hildebrand act too.

The facts are: he lost many billions in 2010 trying to manipulate the swiss currency. In 2011 he spent billions to peg CHF to EUR. What would have happened if euro disappeared? He would have lost other many billions. I think he got away too easy.
A) he did NOT "lose" any billions but invested that money in favour of the economy. The SNB is NOT a commercial bank but a tool of the union
B) the € is just the major currency of Europe, a place where CH is. The € cannot simply disappear. "Somebody" in such a scenario had to take it over. And you are wondering when so many Germans react rather angrily to questions about the topic
C) he only "got away" too easily as the CH laws do NOT take insider-dealings in regard to currency-dealings equal to such dealings in regard to the stock exchange.

But again, the SNB has NOT to make profits, it has to work for the nation and the national economy
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  #143  
Old 13.01.2012, 05:07
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Re: SNB chief resigns...

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Honestly: If I was a CEO of a major bank - anyone, not just Swiss ones - I'd have my headhunter set up some discrete meeting with him. He has an unique network in Switzerland which is alone worth millions. That isn't some ego trip, but pretty basic business.
Add to this hie unique network INTERNATIONALLY plus the fact that he is very young, decades younger than others in comparable situations .....
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  #144  
Old 13.01.2012, 05:10
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Re: SNB chief resigns...

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gets interesting!
"Bank Sarasin has launched legal action against the employee and unnamed others for breaching bank secrecy. The case is being pursued by Zurich prosecutors, who are now gathering evidence and interviewing people."
oh sure ! bring the Ayatollah from Herrliberg "for breaching bank secrecy" to court
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  #145  
Old 13.01.2012, 05:26
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Re: SNB chief resigns...

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my take on that Hildebrand story is Blocher & the Weltwoche magazine just got crazy looking at the star-like press coverage he enjoyed - not just making a couple times 'Bilanz' cover, but also with magna cum laude-like appreciation.


Looking at pictures of the Weltwoche's editor - called Roger Koeppel - over the Internet might help understand that point.


That said, Hildebrand's monetary policy was catastrophic, and I'm frankly scratching my head reading the countless eulogies well-educated people have been posting in the press lately.


Regards


G.
The Weltwoche comes out once per week. Look at the BLICK of 11th JAN --- pages 2 and 3 ! An absolutely disastrous coverage about Mr Blocher and his statements and positions. Attention please... Blick is neither right nor left, they just, like vultures and hyenas perceive a presumed victim and target the victim immediately .... those in charge at Blick know precisely well that they now have become enemies of the GrandAyatollah and his media-servant Mr Köppel, who both may shoot back
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  #146  
Old 13.01.2012, 15:50
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Re: SNB chief resigns...

Interesting results from a reader survey in Tagesanzeiger today, all in German - see
http://www.tagesanzeiger.ch/schweiz/...story/13142343

Highlights - Over 70% said Hildebrands resignation was not necessary & nearly 80% thought breaking bank secrecy was not justified.
Only 16% thought SVP had profited (in a political sense) from their role in this.
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  #147  
Old 13.01.2012, 17:20
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Re: SNB chief resigns...

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oh sure ! bring the Ayatollah from Herrliberg "for breaching bank secrecy" to court

Seems according to the newspapers that the Ayatollah had to visit the Zürich Staatsanwalt this morning. Nobody is saying what the results were or next steps.

It maybe significant that the Ayatollah is not shouting from the roof tops "everything is OK, cleared up, etc. ?"
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  #148  
Old 14.01.2012, 00:29
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Re: SNB chief resigns...

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I'm sure there are some skeletons in Mr Blochers' closet. .
Interesting is to have a look at some of his statements

01-JAN-12: CB denies to have handed over the info in question to the federal government
05-JAN-12: CB declares never to have received any bank info
06-JAN-12: a speaker of the fed.gvmt. tell the media that CB has shown such bank info to the fed.gvmt.
06-JAN-12: CB states not to have (had) any original bank statements
08-JAN-12: CB states not even to have known which bank was involved
09-JAN-12: Hermann Lei (member of the Thurgau-parliament) confirms that Reto T. (the thief) and him had visited CB in the house of CB on 3rd December 11 and had shown him the full material
09-JAN-12: CB states never to have said not to have had any such documents
10-JAN-12: CB states on "Teleblocher" that there "in politics are situations when you HAVE to lie"
--
CB for many months stated not to know who after his withdrawal owned the Basler Zeitung. He did do so until it became known that his daughter had become defacto owner of the BAZ and that Messrs Moritz Suter and Marcel Ospel were just puppets of the Blocher family
-------------------
-- in 2006, CB stated never to have described, at a SVP assembly, two specific Albanians as "criminals". A bit later on, a parliamentary commission proved that he DID say so and forced him to apologize in public
--
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  #149  
Old 14.01.2012, 21:09
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Re: SNB chief resigns...

Anybodyelse notice the CHF has been slowly rising agaimst the euro since Hildebrand resigned?

I suppose people wonder if the SNB without a leader would heavily defend the CHF.
Here is a chart from advfn.com....
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snb-chief-resigns-chf_euro.png  
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  #150  
Old 15.01.2012, 00:59
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Re: SNB chief resigns...

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Anybodyelse notice the CHF has been slowly rising agaimst the euro since Hildebrand resigned?

I suppose people wonder if the SNB without a leader would heavily defend the CHF.
Here is a chart from advfn.com....
It has already be ascertained that the SNB WILL defend the PEG. As the interim-chief at SNB is rather against the PEG, it looks as if the Federal Finance Minister is A) trying to bring up other candidates and B) delaying the election of a new chief, so that the finance matter would/will be in her hands, which means even that the PEG will be raised quite seriously.

That "interim-buddy" has already been sharply criticized for his stubbornly monetaristic views and his utter dis-regard for the real economy.
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  #151  
Old 22.01.2012, 01:58
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Re: SNB chief resigns...

According to today's newspapers the SVP are losing members who do not like/support the anti SNB chief statements being published?
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  #152  
Old 22.01.2012, 23:52
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Re: SNB chief resigns...

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According to today's newspapers the SVP are losing members who do not like/support the anti SNB chief statements being published?
What they do not like is to see that their Grand Ayatollah obtained stolen bank information for political use.
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  #153  
Old 24.01.2012, 18:17
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Re: SNB chief resigns...

In case anyone is interested, the SNB has published transactional documents related to Hildebrand's accusations.

explanation in English:
http://www.snb.ch/en/mmr/speeches/id...105_pmh.en.pdf

the PWC report:
http://www.snb.ch/en/mmr/reference/p...0120104.en.pdf


"However, I regret that in certain quarters, where for many years Swiss banking secrecy has been vehemently defended, a serious breach of this very same secrecy should now be acceptable in the pursuit of political goals. This is damaging the interests of Switzerland." PH

Yeah, yeah, bla bla bli. In any case, its not up to him to bring this forward
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  #154  
Old 24.01.2012, 19:25
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Re: SNB chief resigns...

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In case anyone is interested, the SNB has published transactional documents related to Hildebrand's accusations.

explanation in English:
http://www.snb.ch/en/mmr/speeches/id...105_pmh.en.pdf

the PWC report:
http://www.snb.ch/en/mmr/reference/p...0120104.en.pdf


"However, I regret that in certain quarters, where for many years Swiss banking secrecy has been vehemently defended, a serious breach of this very same secrecy should now be acceptable in the pursuit of political goals. This is damaging the interests of Switzerland." PH

Yeah, yeah, bla bla bli. In any case, its not up to him to bring this forward
About "In any case, its not up to him to bring this forward"
Why? he is deeply involved & it would be strange if he did not bring this point up?
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  #155  
Old 02.02.2012, 21:33
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Re: SNB chief resigns...

The Swiss Franc is getting very close to the 1.20 vs euro level.

Seems that the Markets now price in a 30% risk that the CHF will break the 1.20 level.

It may well turn out that driving Hildebrand out will have exactly the opposite effect that the Grand Ayatollah wanted.
Good example of the law of unintended side effects

Seems the Swiss Govt. is considering legislation capping the amount that the SNB can spend on maintaining the CHF exchange rate; talk about a green flag for speculators
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  #156  
Old 20.03.2012, 21:33
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Re: SNB chief resigns...

Seems the police searched the house of one Grand Ayatollah Blocher today
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  #157  
Old 20.03.2012, 22:05
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Re: SNB chief resigns...

To me this appears to show that the socialists in this country not only have control of the national media and the parliament, but their influence also reaches into the highest levels of the police force. If this is more than merely an attempt at defamation I will be surprised.
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  #158  
Old 20.03.2012, 22:06
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Re: SNB chief resigns...

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To me this appears to show that the socialists in this country not only have control of the national media and the parliament, but their influence also reaches into the highest levels of the police force. If this is more than merely an attempt at defamation I will be surprised.
Prepare to be surprised
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Old 20.03.2012, 22:29
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Re: SNB chief resigns...

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Prepare to be surprised
For those who can read German read the ...

Fall Hildebrand
Feststellungen zu einer sich dramatisch entwickelnden Staatskrise
Von Ulrich Schlüer, Chefredaktor «Schweizerzeit»

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Old 20.03.2012, 22:46
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Re: SNB chief resigns...

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For those who can read German read the ...

Fall Hildebrand
Feststellungen zu einer sich dramatisch entwickelnden Staatskrise
Von Ulrich Schlüer, Chefredaktor «Schweizerzeit»


It is alleged by various newspapers that Blocher obtained stolen Bank information & then passed the content of this stolen Bank information in some form to other people.

So far I have not seen any denial; just some attempts to justify these actions.
Of course if it is determined that these actions by Blocher were a crime then a crime is a crime regardless of the reasons?

Whereas another possibly better approach would have been to refuse to see or hear such stolen information & to immediately call a policeman.
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