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  #61  
Old 14.07.2011, 14:15
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Re: Swiss Franc Climbs to Record High

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About "pensioners who will see the value of their pension drop by over 50%"

If you are one of the lucky UK pensioners living in Switzerland then you will already have seen this over the last 4/5 years.
precisely. and i can see it dropping another 50% from here.
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  #62  
Old 14.07.2011, 14:19
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Re: Swiss Franc Climbs to Record High

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precisely. and i can see it dropping another 50% from here.
I just can't take much more
When I jump off the balcony, I'll leave a note blaming you Phil
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  #63  
Old 14.07.2011, 14:27
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Re: Swiss Franc Climbs to Record High

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4) Ofcoarse the governments would never let this happen, in the end there would be a "new Currency" introduction; like during high inflation periods in the former communist countries. Russians went to work for months in the late ninties and did not get paid - we would do the same.
I was in Russia for an extended time in 1997 before they revalued the currency. It was a bloody miserable period, and yet still one of the most memorable and positive experiences of my life.
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  #64  
Old 14.07.2011, 14:50
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Re: Swiss Franc Climbs to Record High

My banker has just phoned out of the blue. He is an old school friend and really nice local guy- and I actually trust him (never trusted a *anker before). He asked me to come and see him to arrange bringing over any money left in the UK. What, I said, at this ridiculous exchange rate? You must be joking. Reply: can't say too much, but better now than later, honest.


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  #65  
Old 14.07.2011, 15:05
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Re: Swiss Franc Climbs to Record High

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precisely. and i can see it dropping another 50% from here.

I've been putting off moving my pension over in the vain hope the pound would recover, is it time to cut my losses and and bring it over?
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  #66  
Old 14.07.2011, 15:15
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Re: Swiss Franc Climbs to Record High

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I've been putting off moving my pension over in the vain hope the pound would recover, is it time to cut my losses and and bring it over?
Who knows? I do not see any reason for the UK£ to rise in the near/mid term?

Maybe people will stop seeing the CHF as a safe haven & start selling them so reducing the rate; but I do not see that as likely unless the strong franc starts really hurting the Swiss economy.

BTW, Italian Govt managed to sell euro 3 Billion bonds at auction today which is positive but at record high interest rates which is a negative point.
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  #67  
Old 14.07.2011, 15:35
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Re: Swiss Franc Climbs to Record High

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http://www.volcon.ch/news/items/swis...bt-crisis.html

And still climbing...for how long? You can't tell for sure. Speculations / forecasts predict until the late part/end of this year. Regardless...makes people's US$ and EUROs lose such a considerable amount.
Uhhhh, the Swiss franc has hardly budged in months (Gold and silver rates still at the same amount) It's the other currencies being devalued.

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  #68  
Old 14.07.2011, 15:59
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Re: Swiss Franc Climbs to Record High

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My banker has just phoned out of the blue. He is an old school friend and really nice local guy- and I actually trust him (never trusted a *anker before). He asked me to come and see him to arrange bringing over any money left in the UK. What, I said, at this ridiculous exchange rate? You must be joking. Reply: can't say too much, but better now than later, honest.

Did he imply a specific bank issue or general UK stirling issue?
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  #69  
Old 14.07.2011, 16:05
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Re: Swiss Franc Climbs to Record High

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I've been putting off moving my pension over in the vain hope the pound would recover, is it time to cut my losses and and bring it over?

I think the law was changed and you are not allowed to transfer your pension to Switzerland any more..or transfer your Swiss pension out.
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  #70  
Old 14.07.2011, 16:09
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Re: Swiss Franc Climbs to Record High

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What, I said, at this ridiculous exchange rate? You must be joking. Reply: can't say too much, but better now than later, honest.
So what's the big secret that everyone but the small timers seem to know about but can't talk about?
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  #71  
Old 14.07.2011, 16:17
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Re: Swiss Franc Climbs to Record High

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So what's the big secret that everyone but the small timers seem to know about but can't talk about?
There's some discussions going on in the backrooms in the meantime and if it is approved and passed, it might ignite a domino effect

Who, what and when is really not the issue....the issue is it's being discussed and some people seem to be in favor of even though they know it can have massive consequences.

I wish i would be proven wrong but for the meantime.....that doesn't seem to be the case.
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  #72  
Old 14.07.2011, 16:30
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Re: Swiss Franc Climbs to Record High

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I think the law was changed and you are not allowed to transfer your pension to Switzerland any more..or transfer your Swiss pension out.

What? Are you sure or pulling my leg? I thought it was made easier, I got the forms, erm, four years ago, I think pretty much all that's required are the two account numbers and my signature. I though so long as the pensions were of an approved sort (it was), the funds could be transferred between the two.
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  #73  
Old 14.07.2011, 16:35
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Re: Swiss Franc Climbs to Record High

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ignite a domino effect
Burn those dominos! Burn!
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  #74  
Old 14.07.2011, 16:35
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Re: Swiss Franc Climbs to Record High

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There's some discussions going on in the backrooms in the meantime and if it is approved and passed, it might ignite a domino effect

Who, what and when is really not the issue....the issue is it's being discussed and some people seem to be in favor of even though they know it can have massive consequences.

I wish i would be proven wrong but for the meantime.....that doesn't seem to be the case.
Does this have to do with the US debt ceiling showdown or something else entirely?
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  #75  
Old 14.07.2011, 16:41
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Re: Swiss Franc Climbs to Record High

Banker: *rings* Adrian! Hi! Long time no chat. Panic! You need to do something!

Adrian: Hi. Who are you? I don't have a banker. And anyway, why should I do something?

B: Because the world is going to end!
A: Well, I'll just relax and wait. No point wasting it moving money around
B: You have to! Move it! Move it away, then move it back again!
A: Why?
B: Can't tell you! Everyone in the know is doing it! It's a bandwaggon! Jump on!
A: Surely it's too late. Bandwaggon is too full. It will crash
B: Oh no! Bandwaggons are safe! Everything else which isn't moving will crash! Everything that moves can never crash! That's physics!
A: Bankers.
B: Yes! I need my commission! Umm, I mean .. do something!
A: Why?
B: Because everyone else is! Do it now! If not, you'll be left behind!
A: If we all did nothing and didn't panic then everything will be fine.
B: Yes! But I'm panicking! And so are many people I shout at!
A: Bye.
B: No! I'm scared to go on my own!
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  #76  
Old 14.07.2011, 17:05
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Re: Swiss Franc Climbs to Record High

It's times like this I'm glad I don't have any money.
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  #77  
Old 15.07.2011, 08:06
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Re: Swiss Franc Climbs to Record High

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There's some discussions going on in the backrooms in the meantime and if it is approved and passed, it might ignite a domino effect

Who, what and when is really not the issue....the issue is it's being discussed and some people seem to be in favor of even though they know it can have massive consequences.

I wish i would be proven wrong but for the meantime.....that doesn't seem to be the case.
Please be more vague!

1)devaluation of US currency
2)"" " UK currency
3)New World Order?
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  #78  
Old 15.07.2011, 08:09
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Re: Swiss Franc Climbs to Record High

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What? Are you sure or pulling my leg? I thought it was made easier, I got the forms, erm, four years ago, I think pretty much all that's required are the two account numbers and my signature. I though so long as the pensions were of an approved sort (it was), the funds could be transferred between the two.

I was told by my HR department the other day when I asked about transferring my UK pension over here. I haven't done any further investigation into it I am afraid.

Edit: For content
1chf = 1.3 pounds, bloody hell that is low.
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  #79  
Old 15.07.2011, 08:42
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Re: Swiss Franc Climbs to Record High

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Edit: For content
1chf = 1.3 pounds, bloody hell that is low.
You'll find that GBP1 = CHF1.3192 and not the other way around so not that low just yet
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  #80  
Old 15.07.2011, 08:42
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Re: Swiss Franc Climbs to Record High

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I think the law was changed and you are not allowed to transfer your pension to Switzerland any more..or transfer your Swiss pension out.
Not True , however 'pension busting' is taxable at a high rate.
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