Go Back   English Forum Switzerland > Living in Switzerland > Swiss politics/news  
Reply
 
Thread Tools Display Modes
  #201  
Old 25.07.2011, 20:40
marton's Avatar
Forum Legend
 
Join Date: May 2008
Location: Kt. Zürich
Posts: 11,793
Groaned at 610 Times in 516 Posts
Thanked 21,711 Times in 11,398 Posts
marton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
The Euro jumping up to above CHF 1.50 would be a dream for all Swiss exporters and everybody in the CH inbound tourism
I must go back to doing those 5 finger exercises
Reply With Quote
  #202  
Old 25.07.2011, 21:09
Wollishofener's Avatar
Forum Legend
 
Join Date: Jun 2009
Location: Glattbrugg
Posts: 18,978
Groaned at 332 Times in 257 Posts
Thanked 11,715 Times in 6,858 Posts
Wollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
The pressure on the Euro somewhat and interest rate pressures may force EUR below the 1,14 resistance although received wisdom indicates that it will occupy a corridor in the 1,132 to 1,157 in the next three months.

I join many posters on this thread in that I know absolutely nothing about FX and simply made that up, but it sounds good though don't you think ?

AYB
I do not care about pressures on the Euro (downwards) but I DO care quite a lot about pressures on the CHF (upwards) And I DO care about financial speculators (criminals) pushing the CHF to values which are simply untrue and not realistic. In reality the Euro has a value of between CHF 1.30 and 1.35 .

And so, if one of those financial speculators dies of diarrhoe, I will buy and open a bottle of champagne
Reply With Quote
This user would like to thank Wollishofener for this useful post:
  #203  
Old 25.07.2011, 21:22
Wollishofener's Avatar
Forum Legend
 
Join Date: Jun 2009
Location: Glattbrugg
Posts: 18,978
Groaned at 332 Times in 257 Posts
Thanked 11,715 Times in 6,858 Posts
Wollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
Absolutely agree with you Wolli, the exchange market are changing fast and CH doesn't seem to be adjusting accordingly whether on exports or imports, they still import stuff according to the new exchange rates and selling locally with the same prices which were based on the old exchange rate....which mean their profits have increased by 30 to 50% at least, it won't take long till it collapses if they keep on being like this, this would affect the tourism, local purchasing power and exports, which means the CHF could drop dramatically anytime after this rise due to mismanagement
It already DOES damage both the export industry and the inbound tourism, the two most important pillars of the Swiss economy and the two sectors on which this country depends.

20 years ago, Professor Ziegler in his book "La Suisse lavage le plus blanc" / "Die Schweiz wäscht weisser" warned about the unhealthy power of what he named "the Emirs of Zürich and Geneva". He never was more right than right now !
Reply With Quote
This user would like to thank Wollishofener for this useful post:
  #204  
Old 25.07.2011, 21:23
adrianlondon's Avatar
Forum Legend
 
Join Date: Nov 2009
Location: Basel
Posts: 9,131
Groaned at 170 Times in 153 Posts
Thanked 25,643 Times in 6,892 Posts
adrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
And so, if one of those financial speculators dies of diarrhoe, I will buy and open a bottle of champagne
Of course - it's so much cheaper than Swiss sparking wine at the moment.
Reply With Quote
This user would like to thank adrianlondon for this useful post:
  #205  
Old 25.07.2011, 21:29
Wollishofener's Avatar
Forum Legend
 
Join Date: Jun 2009
Location: Glattbrugg
Posts: 18,978
Groaned at 332 Times in 257 Posts
Thanked 11,715 Times in 6,858 Posts
Wollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
Of course - it's so much cheaper than Swiss sparking wine at the moment.
Sure ! And WHAT "Swiss sparkling wine" btw ???
Reply With Quote
  #206  
Old 25.07.2011, 21:50
Mowvich's Avatar
Forum Veteran
 
Join Date: Apr 2007
Location: Genève
Posts: 1,422
Groaned at 28 Times in 20 Posts
Thanked 1,308 Times in 607 Posts
Mowvich has a reputation beyond reputeMowvich has a reputation beyond reputeMowvich has a reputation beyond reputeMowvich has a reputation beyond reputeMowvich has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
It already DOES damage both the export industry and the inbound tourism, the two most important pillars of the Swiss economy and the two sectors on which this country depends.

20 years ago, Professor Ziegler in his book "La Suisse lavage le plus blanc" / "Die Schweiz wäscht weisser" warned about the unhealthy power of what he named "the Emirs of Zürich and Geneva". He never was more right than right now !
I think CH is having much problem than the entire EU at the moment, Euro is basically interchanging according to the economical situation in the EU zone but the CHF is rising with no basis whatsoever....this is much more worrying than the drop of the Euro and US$ imo.
Reply With Quote
This user would like to thank Mowvich for this useful post:
  #207  
Old 25.07.2011, 22:15
porsch1909
 
Posts: n/a
Re: Swiss Franc Climbs to Record High

What is this malarky about 'in reality the rate is 1.3'

In reality is the rate not what it actually is today? I don't really care what anyone thinks it should be....the rate is what it is...if I want to change my francs into Euros I will get whatever the rate is today...not what wolli thinks it should be.
Reply With Quote
The following 2 users would like to thank for this useful post:
  #208  
Old 25.07.2011, 22:18
Guest
 
Posts: n/a
Re: Swiss Franc Climbs to Record High

Quote:
View Post
Sure ! And WHAT "Swiss sparkling wine" btw ???
Mauler Brut, methode champenoise. Has won very many International Medals, from Motiers Neuchatel- really excellent. About 15/18CHF - excellent value.

Why not come over and visit + sample- before or after visiting the absinthe distiller a few metres away (Willy Bovet) - come by train though (station is a few metres from either- with an excellent restaurant in between 'Hotel des Six Communes' and excellent day out, I can tell you. Need a guide?
www.mauler.ch
Reply With Quote
The following 2 users would like to thank for this useful post:
  #209  
Old 25.07.2011, 23:04
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 14,949
Groaned at 294 Times in 198 Posts
Thanked 19,003 Times in 7,991 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
What is this malarky about 'in reality the rate is 1.3'

In reality is the rate not what it actually is today? I don't really care what anyone thinks it should be....the rate is what it is...if I want to change my francs into Euros I will get whatever the rate is today...not what wolli thinks it should be.
maybe wolli or the snb will be nice and sell you chfs at the 1.3 rate instead of the actual rate and let you make huge profits.

for every buyer there is a seller. financial speculators ,buying or selling, take risks. the only time they make super profits is when stupid people think that selling something for less than market price makes good economic sense.
Reply With Quote
This user would like to thank Phil_MCR for this useful post:
  #210  
Old 26.07.2011, 00:22
Wollishofener's Avatar
Forum Legend
 
Join Date: Jun 2009
Location: Glattbrugg
Posts: 18,978
Groaned at 332 Times in 257 Posts
Thanked 11,715 Times in 6,858 Posts
Wollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
What is this malarky about 'in reality the rate is 1.3'

In reality is the rate not what it actually is today? I don't really care what anyone thinks it should be....the rate is what it is...if I want to change my francs into Euros I will get whatever the rate is today...not what wolli thinks it should be.

I referred to the ACTUAL value of the Euro, NOT the rate it has now.
Reply With Quote
  #211  
Old 26.07.2011, 00:30
Wollishofener's Avatar
Forum Legend
 
Join Date: Jun 2009
Location: Glattbrugg
Posts: 18,978
Groaned at 332 Times in 257 Posts
Thanked 11,715 Times in 6,858 Posts
Wollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
maybe wolli or the snb will be nice and sell you chfs at the 1.3 rate instead of the actual rate and let you make huge profits.

for every buyer there is a seller. financial speculators ,buying or selling, take risks. the only time they make super profits is when stupid people think that selling something for less than market price makes good economic sense.
Not really, but wait until the SNB under pressure starts to purchase Grivnas in order to get the CHF down to a sensible level. Switzerland at a good moment will then purchase the Crimea Peninsula. Shuttle flights between Zurich and Sewastopol will get introduced and upon the success of the Kanton Krim, Odessa and the surrounding area will apply to join Switzerland as Kanton Odessa
Reply With Quote
  #212  
Old 26.07.2011, 00:38
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 14,949
Groaned at 294 Times in 198 Posts
Thanked 19,003 Times in 7,991 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
in order to get the CHF down to a sensible level.
this is the key point. the value is set by the market. by selling the CHF for less than it is worth, it is distorting the market and giving free money to speculators.
Reply With Quote
  #213  
Old 26.07.2011, 00:55
Wollishofener's Avatar
Forum Legend
 
Join Date: Jun 2009
Location: Glattbrugg
Posts: 18,978
Groaned at 332 Times in 257 Posts
Thanked 11,715 Times in 6,858 Posts
Wollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
this is the key point. the value is set by the market. by selling the CHF for less than it is worth, it is distorting the market and giving free money to speculators.
What you regard as "the market" is just a bunch of criminal speculators. The CHF is NOT worth what the exchange rate may show, but far far far less. To sell the CHF at far less so is reinstating reality. The speculators in reality do with the CHF anyway what they want, and have turned the CHF into a joke and into a speculation currency of the kind of the Reichsmark of the 1920ies. A currency which increasingly serves the interests of the speculators but betrays the interests of its own country and so becomes superfluous.

I therefore join Mr Bodenmann. Let's join the Euro NOW
Reply With Quote
  #214  
Old 26.07.2011, 01:02
porsch1909
 
Posts: n/a
Re: Swiss Franc Climbs to Record High

Quote:
View Post
I referred to the ACTUAL value of the Euro, NOT the rate it has now.
If that's the value then where can I buy chf at that rate? I have 10k in euros...will you give me 13kchf for it tomorrow?

I could sweeten the deal and only ask for 12500chf. Let me know via pm.
Reply With Quote
  #215  
Old 26.07.2011, 01:18
V__'s Avatar
V__ V__ is offline
Forum Veteran
 
Join Date: Aug 2010
Location: Lausanne
Posts: 1,511
Groaned at 384 Times in 215 Posts
Thanked 2,082 Times in 866 Posts
V__ has a reputation beyond reputeV__ has a reputation beyond reputeV__ has a reputation beyond reputeV__ has a reputation beyond reputeV__ has a reputation beyond reputeV__ has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post

I fear that the markets (I mean the REAL world markets) will stop purchasing Swiss products
I find this hard to believe. I was reading last week that due to the stronger SFR for the past weeks, Swatch group had raised their prices in Europe, USA and Asia for about 5%. If you are in the market for a 5 grand watch, will you care if it was 200-300 more or less?

Probably a lot other Swiss exporters raised their prices too, as most of them are targeting rich costumers, the probability is small that you will loose them if you raise the price. Look at Omega, for the last year and a half they have had around 50% price increase and they sell more watches than before.

Plus, I can not understand, why high value SFR is bad for Switzerland or expats? (unless you are payed in foreign currency)
Reply With Quote
  #216  
Old 26.07.2011, 01:44
Wollishofener's Avatar
Forum Legend
 
Join Date: Jun 2009
Location: Glattbrugg
Posts: 18,978
Groaned at 332 Times in 257 Posts
Thanked 11,715 Times in 6,858 Posts
Wollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
I find this hard to believe. I was reading last week that due to the stronger SFR for the past weeks, Swatch group had raised their prices in Europe, USA and Asia for about 5%. If you are in the market for a 5 grand watch, will you care if it was 200-300 more or less?

Probably a lot other Swiss exporters raised their prices too, as most of them are targeting rich costumers, the probability is small that you will loose them if you raise the price. Look at Omega, for the last year and a half they have had around 50% price increase and they sell more watches than before.

Plus, I can not understand, why high value SFR is bad for Switzerland or expats? (unless you are payed in foreign currency)
This is rubbish. SOME exporters are targetting rich customers. The average Swiss exporters is targetting average customers, and so experiences shrinking margins as the average exporter canNOT rise the prices. The inbound tourism industry also cannot rise their prices and so makes losses. The markets do not tolerate price rises, absolutely not.

Your mentioning companies like Omega and Dolder is utter nonsense.

You may not know it but a good part of the exports of the watches industry is selling watches for artillery grenades all over the world. And in that segment, they cannot go up with the prices in any way.

If the exchange-rate of the CHF goes up even further, the economy will have to introduce "short-work" or simply reduce the workforce. Joblessness will likely be the result. And THEN, some people in the upper echelons may conclude that some overpaid expats could be done without
Reply With Quote
  #217  
Old 26.07.2011, 10:30
adrianlondon's Avatar
Forum Legend
 
Join Date: Nov 2009
Location: Basel
Posts: 9,131
Groaned at 170 Times in 153 Posts
Thanked 25,643 Times in 6,892 Posts
adrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
This is rubbish. SOME exporters are targetting rich customers. The average Swiss exporters is targetting average customers,
Maybe, although most Swiss products are sold as "premium" in other countries. However, take almost any Swiss product ... where do the raw materials come from? Where does the oil come from for the transport? Switzerland? I don't think so. Some other country with a weak currency? Yes.
Reply With Quote
  #218  
Old 26.07.2011, 10:33
Forum Veteran
 
Join Date: Mar 2010
Location: Geneva
Posts: 637
Groaned at 71 Times in 39 Posts
Thanked 469 Times in 247 Posts
saiya-jin has an excellent reputationsaiya-jin has an excellent reputationsaiya-jin has an excellent reputationsaiya-jin has an excellent reputation
Re: Swiss Franc Climbs to Record High

Wolli, it is quite apparent that You have personal interest in weaker franc, but You cannot expect much sympathy on expat forums, where most people see their constant incomes rising compared to their home currency.
There is no precedent for current economic situation, so anybody predicting anything might be right... and since there are so many people thinking they got it all right, I guess some of them will
I don't think international markets do care about export/import problems of Switzerland, it is too tiny compared to giants like Germany. What will happen will not reflect wishes of few expats, or swiss economists that much. SNB tried to play against that, and what did they achieved?
Reply With Quote
  #219  
Old 26.07.2011, 10:33
porsch1909
 
Posts: n/a
Re: Swiss Franc Climbs to Record High

Quote:
View Post
Maybe, although most Swiss products are sold as "premium" in other countries. However, take almost any Swiss product ... where do the raw materials come from? Where does the oil come from for the transport? Switzerland? I don't think so. Some other country with a weak currency? Yes.
I think you are posting a bit too sensibly here. Use more conjecture as elder wolli does.
Reply With Quote
This user would like to thank for this useful post:
  #220  
Old 26.07.2011, 10:55
adrianlondon's Avatar
Forum Legend
 
Join Date: Nov 2009
Location: Basel
Posts: 9,131
Groaned at 170 Times in 153 Posts
Thanked 25,643 Times in 6,892 Posts
adrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond repute
Re: Swiss Franc Climbs to Record High

Quote:
View Post
I think you are posting a bit too sensibly here. Use more conjecture as elder wolli does.
Oh lordy lordy we're all going to die! *flailing arms*
Reply With Quote
The following 2 users would like to thank adrianlondon for this useful post:
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Weak Swiss Franc Pekka Finance/banking/taxation 151 08.08.2011 18:10
Easy Swiss classic climbs? rmiledi Sports / Fitness / Beauty / Wellness 2 06.08.2010 08:13
Euro at record low against Swiss Franc Swissmountainair Finance/banking/taxation 28 25.03.2010 20:36
What's just happened to the Swiss Franc? Tim Finance/banking/taxation 7 08.05.2007 16:24


All times are GMT +2. The time now is 13:47.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0