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Old 11.07.2011, 00:09
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Swiss Franc Climbs to Record High

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.
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Old 11.07.2011, 00:13
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Re: Swiss Franc Climbs to Record High

Or makes that vacation home in Italy or Tampa Bay seem more and more affordable. When life hands you lemons...
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Old 11.07.2011, 01:37
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Re: Swiss Franc Climbs to Record High

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Or makes that vacation home in Italy or Tampa Bay seem more and more affordable. When life hands you lemons...
Yup, when life hands you lemons, squeeze out a smile!
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Old 11.07.2011, 10:09
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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.
The CHF gradually becomes a luxury, ruining the economy. Would Switzerland join the Euro, the export industry and inbound tourism would both make a leap forward.
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Old 11.07.2011, 10:15
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Re: Swiss Franc Climbs to Record High

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The CHF gradually becomes a luxury, ruining the economy. Would Switzerland join the Euro, the export industry and inbound tourism would both make a leap forward.
But Switzerland couldnt afford the bill for the PIGS!
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Old 11.07.2011, 10:20
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Re: Swiss Franc Climbs to Record High

Ye gods and little fishes!
With my Ł and US$ pension, maybe I should 'climb to a record high' and jump
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Old 11.07.2011, 10:30
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Re: Swiss Franc Climbs to Record High

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But Switzerland couldnt afford the bill for the PIGS!
The SNB has invested not just millions but billions (over the years) in attempts to stabilize the CHF, with rather modest results. Which means that quite a lot of more useful things could be financed with the same money. Switzerland for example could purchase the islands of Crete and Rhodos plus a slice of the coastline south of Athens. So that a Canton of Hellenikon and a Canton of Kreta and a Canton of Rhodos would be established. Not so much of change for the locals as the dominant language would remain to be German
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Old 11.07.2011, 10:43
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Re: Swiss Franc Climbs to Record High

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The SNB has invested not just millions but billions (over the years) in attempts to stabilize the CHF, with rather modest results. Which means that quite a lot of more useful things could be financed with the same money. Switzerland for example could purchase the islands of Crete and Rhodos plus a slice of the coastline south of Athens.
I think it's too late as the Chinese are snapping it all up.
OTOH, it would just result in doubled prices for olive-oil and feta, as they could put a "Swiss" label onto those products....
;-)
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Old 11.07.2011, 10:49
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Re: Swiss Franc Climbs to Record High

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Or makes that vacation home in Italy or Tampa Bay seem more and more affordable. When life hands you lemons...
Quite the comparison....

Unless you're from there forget Tampa and find somewhere *nice* to live in Florida
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Old 11.07.2011, 10:55
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Re: Swiss Franc Climbs to Record High

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Quite the comparison....

Unless you're from there forget Tampa and find somewhere *nice* to live in Florida
Yeah, I'm not a west coast Florida fan either (but that is a lot of people's dream...). It was a joke--a whatever you're into kind of comment.

However, I'm serious about getting vacation property in Italy.
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Old 11.07.2011, 11:01
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Re: Swiss Franc Climbs to Record High

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Yeah, I'm not a west coast Florida fan either (but that is a lot of people's dream...). It was a joke--a whatever you're into kind of comment.

However, I'm serious about getting vacation property in Italy.
Actually i was just joking about Tampa...i listen to a popular DJ and his radio show from Tampa and so you get a feel for the place.

I myself was considering getting a place in Miami or Jupiter because A )its Miami and b) it seems to be easier to get there from here
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Old 13.07.2011, 04:00
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Re: Swiss Franc Climbs to Record High

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The CHF gradually becomes a luxury, ruining the economy. Would Switzerland join the Euro, the export industry and inbound tourism would both make a leap forward.
The EUR is over, thanks god we never joined this trash. Italy is bankrupt, so is Greece, Portugal and many others. The CHF will be soon 1 to 1 to the EUR and then the SNB will take measures, and this time the SNB will print 100 billions francs and help the SWISS PEOPLE! Not buying EUR like she did losing billions of francs...
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Old 13.07.2011, 09:01
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Re: Swiss Franc Climbs to Record High

The ever climbing Frank will hurt the Banks for sure.. Bankers earn their margins on volatility.. A one-way-street wont do them any good, me thinks.
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Old 13.07.2011, 09:02
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Re: Swiss Franc Climbs to Record High

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The EUR is over, thanks god we never joined this trash. Italy is bankrupt, so is Greece, Portugal and many others. The CHF will be soon 1 to 1 to the EUR and then the SNB will take measures, and this time the SNB will print 100 billions francs and help the SWISS PEOPLE! Not buying EUR like she did losing billions of francs...
What would happen, though, if it were to come to that? The whole situation in the EU combined with the showdown back home over the dollar and the debt, makes me wonder if any of these folks in charge of the banks/finances have any idea of what they're doing.

Is there anyone who understands what is really happening and can explain it to non-economists? I've read a few econo-blogs but, most of the financial jibber jabber is over my head.
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Old 13.07.2011, 09:36
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Re: Swiss Franc Climbs to Record High

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What would happen, though, if it were to come to that? The whole situation in the EU combined with the showdown back home over the dollar and the debt, makes me wonder if any of these folks in charge of the banks/finances have any idea of what they're doing.

Is there anyone who understands what is really happening and can explain it to non-economists? I've read a few econo-blogs but, most of the financial jibber jabber is over my head.
I'm not an economist, but I think what we are seeing is the realization that the economy as a whole can't grow anymore in the traditional sense.
That is and was the silent promise under which countries were able to pay off old debt with even more new debt.

Someone has to buy those bonds after all.
If no-one does (because they think they won't get parts or all of their money back), the central banks (FED, ECB) have to or the countries would have to go into default (which you have to as a company, if you're out of cash and can't refinance).

To a lot of people, this act signifies the beginning of the end, if you want to say so.
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Old 13.07.2011, 10:19
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Re: Swiss Franc Climbs to Record High

Swissinfo.ch has this in today's edition:

http://www.swissinfo.ch/eng/specials...l?cid=30659868

The story discusses cutting workers' salaries or having them work more hours. I hope it doesn't go to that.
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Old 13.07.2011, 10:59
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Re: Swiss Franc Climbs to Record High

It has its own good and bad. looks like the Curve is getting steeper and thus it is coming to the point where it is more bad.
Pros:
- The input and material costs to become cheaper (including Oil)
- Easier for Swiss companies to buy or merge with other international comapnies as they are more affordable now
- There is no pressure on local interest rates to go up as the currency is already so strong.
- Inflation remain in check

but the downside are
- Hurts the local SMEs big time. (Talk to a friend of mine who has a mid size services company here and said that outsourcing for Germany is so cheap, his revenues are down 40% in last 2 years)
- Property bubble coming up
- CH is too small an economy to be the safe haven currency. Excess liquidity might hurt

Having said that I don't see how and when the trend could stop. forget about USD being 1.2 or EUR at 1.55 levels. It is probably difficult for SNB to maintian the .9 (USD) and 1.25(EUR) range in medium term.

So it is like being systematic and clean economy has its own curse when every one around you is bankrupt and financial irresponsible..

Lets see how it turns out in next 3 month. EUR CHF Parity or back to 1.25 -1.3

Cheers
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Old 13.07.2011, 11:03
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Re: Swiss Franc Climbs to Record High

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It has its own good and bad. looks like the Curve is getting steeper and thus it is coming to the point where it is more bad.
Pros:
- The input and material costs to become cheaper (including Oil)
- Easier for Swiss companies to buy or merge with other international comapnies as they are more affordable now
- There is no pressure on local interest rates to go up as the currency is already so strong.
- Inflation remain in check

but the downside are
- Hurts the local SMEs big time. (Talk to a friend of mine who has a mid size services company here and said that outsourcing for Germany is so cheap, his revenues are down 40% in last 2 years)
- Property bubble coming up
- CH is too small an economy to be the safe haven currency. Excess liquidity might hurt

Having said that I don't see how and when the trend could stop. forget about USD being 1.2 or EUR at 1.55 levels. It is probably difficult for SNB to maintian the .9 (USD) and 1.25(EUR) range in medium term.

So it is like being systematic and clean economy has its own curse when every one around you is bankrupt and financial irresponsible..

Lets see how it turns out in next 3 month. EUR CHF Parity or back to 1.25 -1.3

Cheers
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.
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Old 13.07.2011, 11:08
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Re: Swiss Franc Climbs to Record High

It does look like the Euro is trending towards parity with the Franc.

I think that one catch phrase of the last ten years, "too big to fail," is about to play out with Italy. The aid to Portugal (a country with few exports, industry etc.) was in the billions. Now, Italy being the 3rd or 4th largest economy in Europe is going to have to be handled very differently. Back door deals and lots of people from Germany and France saying with a big plastic smile that everything is FINE there.
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Old 13.07.2011, 11:10
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Re: Swiss Franc Climbs to Record High

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But Switzerland couldnt afford the bill for the PIGS!
neither can the Euro countries
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