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  #121  
Old 27.07.2011, 22:17
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Re: To all you Swiss people: Do realize how great your country is?

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Have you got any $ savings? Won't get you very far here. An average family house near Geneva or Zurich is about 1 and half million CHF - how much is that in $?
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I suspect his savings are in kronor...
That's right, my savings are in weak-ass Swedish kronur It's quite strong against the euro though. But of course CHF is the king these days. I'm going to wait until it weakens before (and if) I move.

Odile: Thanks for the insightful comments. I stand corrected on my "rosy scenario". It was spoken more out of emotion than reason.

But I still firmly believe that low taxes, limited government, property rights and free markets are, always have been, and always will be, a foundation for prosperity. Those things are not to be blamed for the too strong CHF. A totally messed up and flawed worldwide financial system (fractional reserve banking + central bank interest rate manipulation and credit creation out of thin air) have much more to do with it and should be blamed much more.
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  #122  
Old 27.07.2011, 22:20
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Re: To all you Swiss people: Do realize how great your country is?

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Its the mean reversion you have to worry about. Take a look at LATAM 1982 or Mexico 1994. Or even Turkey today, which is set to collapse in the next 18 months. Consuming with a strong currency, as opposed to investing with your strong currency, is a great way to destroy your countrys economy.

But the CHF will get hammered once UBS or CS go bust. Take a look at their Intangible Assets As A % of Total Assets. They are bankrupt. A complete joke. The SNB has enough capital to save a Cantonal Bank no bigger than Luzerner KB. If UBS or CS go? Bye Bye CHF...... The problem is these guys are uber exposed to the Euro-zone. They are basically 300% short volatility. Thats why their share prices are collapsing this month

SNB is very worried. But that will fix the CHF problem.
I think you exaggerate vastly.

- Turkey has never been economically as strong as now
- Kuwait may well extend its shareholding in CS
- Shares of UBS may be sold to Mideastern congomerates
- Switzerland may join the Euro
- The ECB will be moved from Frankfurt to Zurich
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  #123  
Old 27.07.2011, 22:29
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Re: To all you Swiss people: Do realize how great your country is?

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I think you exaggerate vastly.

- Turkey has never been economically as strong as now
- Kuwait may well extend its shareholding in CS
- Shares of UBS may be sold to Mideastern congomerates
- Switzerland may join the Euro
- The ECB will be moved from Frankfurt to Zurich

Turkey has been on fire because it has been borrowing on the front end to consume (at the same time FDI and Fixed Asset Investment are at decade lows). Perhaps you should google tequila crisis and see how the comparison stacks up. The US was never as economically strong as it was in 2007 and then?????? It mean reverted and the commercial paper market collapsed (the front end of the yield curve). If you think I am wrong then put your money in there.

If volatility rises to 20 from here oil will drop in value to the point that they wont be extending anyone credit. It will be the Federal Reserve bank of NY who will save CS and UBS, just like they did 3 years ago. Why do you think these Swiss banks put up with the IRS? Do you think they like being shaken down by the mafia????? Its because the Fed is the only one who will bail them out.

UBS has lost 50% of its assets over the last 2 years!!!!!!! Why would a mid-eastern conglomerate take them over if they are hemorrhaging clients????? Thats like catching a falling knife. Am guessing they will sell Dean Witter first, most likely to Bank of America or Wells Fargo.

The Germans will leave the Euro in the next 3 years (ask anyone at the Bundesbank, off the record, and they will tell you its a consensus) so why would the Swiss want in? And why would the Swiss give up the right to bail out their banks? That makes no sense my friend.

The ECB will be moved..... To Paris or Rome.

But if you think that there is hope for CS or UBS then by all means please buy the equity of these banks.
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  #124  
Old 27.07.2011, 22:54
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Re: To all you Swiss people: Do realize how great your country is?

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I think you exaggerate vastly.

- Turkey has never been economically as strong as now
If you know what a "Current Account Balance" is (or you have a friend that does) you should find out what Turkeys is and you should be very very scared my good friend.
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  #125  
Old 27.07.2011, 23:05
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Re: To all you Swiss people: Do realize how great your country is?

Thanksgiving already?
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  #126  
Old 27.07.2011, 23:08
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Re: To all you Swiss people: Do realize how great your country is?

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Thanksgiving already?
DING DING DING!!!!!

Some one here CLEARLY knows what a current account deficit is!!!!! A star for the day my friend....
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  #127  
Old 27.07.2011, 23:23
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Re: To all you Swiss people: Do realize how great your country is?

Cheers and thanks. Mine is a glass of red - a good malt would be nice at this time of night actually.
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  #128  
Old 27.07.2011, 23:28
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Re: To all you Swiss people: Do realize how great your country is?

http://24.media.tumblr.com/tumblr_kv...n7vso1_500.jpg
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Cheers and thanks. Mine is a glass of red - a good malt would be nice at this time of night actually.
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  #129  
Old 27.07.2011, 23:29
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Re: To all you Swiss people: Do realize how great your country is?

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Cheers and thanks. Mine is a glass of red - a good malt would be nice at this time of night actually.
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  #130  
Old 27.07.2011, 23:36
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Re: To all you Swiss people: Do realize how great your country is?

Sorry, but I am truly a man's woman- she doesn't do it for me Furthermore I had an encounter with far far too much beer (in Yvonand if anyone knows the VD8 campsite) for my 15th birthday. Was ill for about 5 days- and not been able to drink beer ever since. Ooooops, big time.
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  #131  
Old 27.07.2011, 23:42
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Re: To all you Swiss people: Do realize how great your country is?

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Sorry, but I am truly a man's woman- she doesn't do it for me Furthermore I had an encounter with far far too much beer (in Yvonand if anyone knows the VD8 campsite) for my 15th birthday. Was ill for about 5 days- and not been able to drink beer ever since. Ooooops, big time.
So wait, youre a woman? Sorry, am afraid I dont have have delicious Schlitz adds with men in them. But I googled Prosecco and got this wankers picture.... ENJOY!
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  #132  
Old 28.07.2011, 00:01
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Re: To all you Swiss people: Do realize how great your country is?

Nah
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  #133  
Old 28.07.2011, 00:16
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Re: To all you Swiss people: Do realize how great your country is?

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Nah
WHAT! He looks like Ben Bernankes brother (you know, the one who spent his child support money supporting his mid-life crisis). Then I guess I just owe you one my dear.
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  #134  
Old 28.07.2011, 04:57
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Re: To all you Swiss people: Do realize how great your country is?

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I am already packing
I am already there

Switzerland might from the outside seem like Utopia but it may not be that great for many. Once you're here, you'll find out if you fit in. It's not perfect by any means - but there are worse places to go.

On the topic of groping at the airport, Manchester in the UK is the worst place I've had the pleasure of passing through security at. And I've racked up 8 flights this month.....Swiss, UK, US......only 2 flights left to go

On the topic of dual taxation, you're obviously plighted by a US passport or green card - nobody else really bothers with their citizens abroad - yet.
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  #135  
Old 28.07.2011, 10:18
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Re: To all you Swiss people: Do realize how great your country is?

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On the topic of dual taxation, you're obviously plighted by a US passport or green card - nobody else really bothers with their citizens abroad - yet.
On the contrary: Two countries know the double taxation: The US and Zimbabwe.
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  #136  
Old 28.07.2011, 10:39
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Re: To all you Swiss people: Do realize how great your country is?

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I am already there

Switzerland might from the outside seem like Utopia.
The only people who seem to think that haven't done any proper research and probably haven't ever been outside their own country (let alone lived overseas). I get the feeling that someone at the John Birch Society still has a stack of 'Visit Switzerland!' brochures from the 1950's lying around and they still pass them out at meetings.
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  #137  
Old 28.07.2011, 10:43
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Re: To all you Swiss people: Do realize how great your country is?

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The only people who seem to think that haven't done any proper research and probably haven't ever been outside their own country (let alone lived overseas). I get the feeling that someone at the John Birch Society still has a stack of 'Visit Switzerland!' brochures from the 1950's lying around and they still pass them out at meetings.
The sad thing is that Switzerland is pretty close to Utopia for quite a lot of us.

It just isn't any kind of Utopia that the libertarians would recognise.

The sad thing is that they simply won't have it if you try to tell them that:

"You just hate Switzerland - why don't you leave if you hate it that much?"

"Er, no, actually, Mr First Principles. I love it here. I don't think you will, though..."
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  #138  
Old 28.07.2011, 10:44
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Re: To all you Swiss people: Do realize how great your country is?

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The only people who seem to think that haven't done any proper research and probably haven't ever been outside their own country (let alone lived overseas). I get the feeling that someone at the John Birch Society still has a stack of 'Visit Switzerland!' brochures from the 1950's lying around and they still pass them out at meetings.
No, I just think that people globally are looking for an answer to their own corrupt governments. They see Switzerland as the lesser of all governmental evils in this world.

But what they dont understand is that the system is regulated by "Small Government" and every Swiss person envisions himself as the neighborhood rule enforcer. So from the Top Down Switzerland is an easy sell. But from the bottom up its not much different from Uncle Sam.
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  #139  
Old 28.07.2011, 10:48
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Re: To all you Swiss people: Do realize how great your country is?

Isn't it curious how our "Swedish" friend:

  • Writes like a typical American libertarian;
  • Spells "Kronor" incorrectly;
  • Keeps comparing Switzerland with the United States, not Sweden;
  • Always posts during American working hours (east coast)?
Anyone would think he was yet another of our tiresome libertarian visitors, trying to pull the wool over our eyes...
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  #140  
Old 28.07.2011, 10:52
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Re: To all you Swiss people: Do realize how great your country is?

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Isn't it curious how our "Swedish" friend:

  • Writes like a typical American libertarian;
  • Spells "Kronor" incorrectly;
  • Keeps comparing Switzerland with the United States, not Sweden;
  • Always posts during American working hours (east coast)?
Anyone would think he was yet another of our tiresome libertarian visitors, trying to pull the wool over our eyes...
Hmmm.... My vote is on TX. I know too many Texans. If he's not from TX he needs to move there.
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