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  #121  
Old 18.07.2011, 14:44
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Re: Swiss Franc Climbs to Record High

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Just checked it. The Euro now apparently is fairly stable at CHF 1.15 and the £ at 1.30. Don't know how this relative stability came about.

Over the weekend, some prominent people in Switzerland openly declared an entry of Switzerland into the Euro to be the only practical solution. The SNB purchasing whichever currency becomes weak for whatever reasons cannot be the solution in the longer term.
About "The Euro now apparently is fairly stable at CHF 1.15"
Not really my idea of stable; see today's graph attached from Tagesanzeiger

Last edited by marton; 08.12.2017 at 17:37.
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  #122  
Old 18.07.2011, 15:56
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Re: Swiss Franc Climbs to Record High

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solution to their particular problems maybe. maybe levy a 5% tax on everybody and donate this to special interest groups? or would this be a too transparent way of trying to achieve the same thing?
The only real solution for SWITZERLAND. At present, the only special interests group which profits of the situation, the unacceptable situation I mean, are some finance-companies. If those banks would have to transfer 5% of their net-profit to the union, the SNB could even buy Rubels and Mexican Pesos, beside whatever Euro is around on the free market !
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  #123  
Old 18.07.2011, 15:59
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Re: Swiss Franc Climbs to Record High

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About "The Euro now apparently is fairly stable at CHF 1.15"
Not really my idea of stable; see today's graph attached from Tagesanzeiger
The Euro on Friday was already below 1.16 and now is above 1.15, and this looks like a modest bit of stabilisation. Sure, the REAL actual value of the Euro is rather somewhere around 1.25, but to expect such an exchange rate possibly is not realistic.

Add-on: Latest news say that the Euro is now at 1.14. The Franken-Krise becomes clearer by the hour. The Franken becomes unsustainable by the hour.

Last edited by Wollishofener; 18.07.2011 at 21:20.
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  #124  
Old 18.07.2011, 22:40
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Re: Swiss Franc Climbs to Record High

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I would estimate that the post-euro inflation was at least twenty percent--if not more. But, that's my opinion based upon living for a couple of months at a time in Italy both before and after, and based upon talking to a bunch of Italians about how it affected them.
20% ? I'd say 40%-50%
My mum earned around 1 mil £ per month, we could pay the rent (around 160k £ - 180k £) and save some money. Nowadays rents are between 500€ - 1000€ (Milan, Rome, etc...) and of course salaries are 700€ - 1100€ net per 12 months most of the time. No wonder low & middle classes do not consume, they have no money left.

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The Euro on Friday was already below 1.16 and now is above 1.15, and this looks like a modest bit of stabilisation. Sure, the REAL actual value of the Euro is rather somewhere around 1.25, but to expect such an exchange rate possibly is not realistic.

Add-on: Latest news say that the Euro is now at 1.14. The Franken-Krise becomes clearer by the hour. The Franken becomes unsustainable by the hour.
Latest news: back at 1.15

http://it.finance.yahoo.com/q/bc?s=E...=on&z=m&q=l&c=

On July 21 there will be a reunion at Brussels to discuss the “financial stability”. We will see if this time they will make a decision or not. If they choose something, the EUR\CHF should rise in my opinion.
I do not think that Germany will ever accept euro-bonds though.
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  #125  
Old 19.07.2011, 10:25
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Re: Swiss Franc Climbs to Record High

In regards to the discussion on Post-Euro-Italy Inflation.

People complain about this in every country and I find it hard to believe. Are people really worse off? It seems to me that everyone has a car (Car ownership is at an all time high everywhere), restaurants are full, everyone is wearing designer clothes etc. I think people just have higher expectations and then complain everything is more expensive.
I hear the same arguments in F, NL and SK. But the people were complaining that everything was too expensive even before the Euro adoption.
I have family in none Euro parts and live in Switzerland - has anyone on this forum NOT complained about the price of everything here? Why are we all going to Euro areas for vacation etc.
Basically its the same round and round.
If prices are so much higher than why the hell does everyone not just start business' with the new and improved margins?
And has starting a life without connections to the right people ever been easy in Italy or anywhere else? This is a common complaint from locals everywhere.
Short said - I think people complein toomuch, including myself. Life is just too good and we have nothing else to do.
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  #126  
Old 19.07.2011, 11:56
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Re: Swiss Franc Climbs to Record High

That's because all mankind is somewhat greedy. It keeps us going forward, in personal and other levels. When we achieve long-time dream, most people don't stay happy for a long time, but they aim even higher. Same for owning - when I get new PDA/stereo/car/whatever, there is some time of calm happiness, and then something else is picked to look into. There is nothing wrong in that, otherwise we would probably be still stucked in caves.
Agree with what You said, can't understand the viewpoint of end of civilization, collapse of world etc. Some shakes here & there, but history was never a solid line of prosperity, at most in a temporary state. Be flexible, change as your surrounding changes, and You will be fine, whatever happens. Oh, and always use your brain
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  #127  
Old 19.07.2011, 19:37
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Re: Swiss Franc Climbs to Record High

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Before the recession I remember the CHF:USD rate being 1.25:1. Now it's 1:1.2. If it goes back to what it was before, I would have no financial incentive to stay in Switzerland.
I fear that if it stays like this they have no financial incentive to keep any assignments here.
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  #128  
Old 19.07.2011, 20:01
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Re: Swiss Franc Climbs to Record High

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I fear that if it stays like this they have no financial incentive to keep any assignments here.
The Euro is, just as yesterday morning, at 1.146, which means a kind of stability for 48 hours
The $ is 0.814, also the same since yesterday

Somebody apparently pulled the handbrake
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  #129  
Old 20.07.2011, 09:55
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Re: Swiss Franc Climbs to Record High

Swiss Franc strength will probably continue after the govt has chosen not to act to remedy the situation, saying that as long as the European leaders have not found a solution for the Greek problem, then any action would not work. The strength of the CHF is due to safe haven status as we know, and Swiss exporters are turning up the pressure on the central bank, maybe the swiss govt will tax foreign deposits or negative interest rates to solve the problem but it won`t be for a while. In the meantime keep booking those foreign hols and buying your crisps in France or Germany !
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  #130  
Old 20.07.2011, 11:20
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Re: Swiss Franc Climbs to Record High

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Swiss Franc strength will probably continue after the govt has chosen not to act to remedy the situation, saying that as long as the European leaders have not found a solution for the Greek problem, then any action would not work. The strength of the CHF is due to safe haven status as we know, and Swiss exporters are turning up the pressure on the central bank, maybe the swiss govt will tax foreign deposits or negative interest rates to solve the problem but it won`t be for a while. In the meantime keep booking those foreign hols and buying your crisps in France or Germany !
The Federal government of course has to wait for what the EU-leaders will be doing. Not until the Greece problem is solved, but until the EU strategy becomes a bit clearer than it is now.

Producers of products like crisps will export the stuff to Germany (the raw material came from abroad anyway, and the calculation often is done in Euro) wholesale, and sell it there to retailers. This already is done by companies like Mövenpick and Zweifel etc.
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  #131  
Old 21.07.2011, 07:30
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Re: Swiss Franc Climbs to Record High

Looks like the CHF is going down against other currencies this morning. But so is the Dollar, which I don't understand.

Why would CHF lose against the Dollar, Euro and Pound while the Dollar also loses against the Euro and the Pound, but gain on the CHF?
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  #132  
Old 21.07.2011, 08:10
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Because the dollar is undervalued & the chf overvalued. Just look at the amazing results Apple pulled out of the hat
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  #133  
Old 21.07.2011, 08:12
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Re: Swiss Franc Climbs to Record High

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Because the dollar is undervalued & the chf overvalued. Just look at the amazing results Apple pulled out of the hat

That's because Apple is God. Bow down now before thine iMac and praise it, lowly primate.
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  #134  
Old 21.07.2011, 08:12
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Re: Swiss Franc Climbs to Record High

think its the euro strengthening on this possible solution for Greece (band aid more like)
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  #135  
Old 21.07.2011, 08:29
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Markets always overshoots , then the value investors buy on the cheap
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  #136  
Old 21.07.2011, 10:54
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Re: Swiss Franc Climbs to Record High

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Markets always overshoots , then the value investors buy on the cheap
As long as the uncertainties about Greece were dominant and the CHF the one which offered something, the speculators jumped into the CHF. But in view of possible steps of the EU to get the Greece matter under control, in view of possible measures of the CH Federal Government and in view of Italy evading a finance crisis in spite of all the odds, a part of the speculatos mob now fled out of the CHF again.

As old German Federal Chancellor Helmut Schmidt said "speculator are all nervous psychopats"
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  #137  
Old 21.07.2011, 10:57
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Re: Swiss Franc Climbs to Record High

Heres a website that might help you to understand the predicament we are in. A few ignorant politicians gathering together to find a short term solution so the collapse of the Eurozone doesnt happen whilst they are in office , is not a long term solution to this problem.
Secondly, the double whammy of a strong CHF is that many Europeans who borrowed money in CHFs due to the low interest rate and will almost certainly default on that debt.

http://nationaldebtclocks.com/
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  #138  
Old 21.07.2011, 11:02
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Re: Swiss Franc Climbs to Record High

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Heres a website that might help you to understand the predicament we are in. A few ignorant politicians gathering together to find a short term solution so the collapse of the Eurozone doesnt happen whilst they are in office , is not a long term solution to this problem.
Secondly, the double whammy of a strong CHF is that many Europeans who borrowed money in CHFs due to the low interest rate and will almost certainly default on that debt.

http://nationaldebtclocks.com/
anyone know of a debt clock for switzerland?
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  #139  
Old 21.07.2011, 11:02
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Re: Swiss Franc Climbs to Record High

I climbed to a record high once, but I got short of breath and came down again.
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  #140  
Old 21.07.2011, 11:18
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Re: Swiss Franc Climbs to Record High

35% chance of EURO/CHF parity within 12 months according to this:

http://www.creditwritedowns.com/2011...ranc-euro.html
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