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View Poll Results: How long will the CHF peg hold?
Less than a day 1 0.64%
Less than a week 17 10.90%
Less than a month 24 15.38%
Until the end of the year 43 27.56%
Longer 71 45.51%
Voters: 156. You may not vote on this poll

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  #1121  
Old 03.02.2015, 23:04
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I´m just nerdy about the fact that it was >>not a peg<<, but a ceiling/floor.

I find the difference is actually important, but I do also acknowledge that it looked like a peg most of the time, and many articles in the press also incorrectly used the term "peg" in this matter. Doesn´t change that it´s plain wrong in this case!
Last week my husband pointed out to me that the market was really being pushed, the spikes indicated to him that a big player was working hard to manipulate the exchange rates.

What ever one wants to call it, the SNB vice president stated late last week that they were prepared to intervene, now we have some confirmation of that fact.

I'd like to know where Thomas Jordan is now? It seems he's disappeared from the public eye.
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  #1122  
Old 03.02.2015, 23:55
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I´m just nerdy about the fact that it was >>not a peg<<, but a ceiling/floor.

I find the difference is actually important, but I do also acknowledge that it looked like a peg most of the time, and many articles in the press also incorrectly used the term "peg" in this matter. Doesn´t change that it´s plain wrong in this case!
you do realise that when we say peg, we are not saying it is a peg?
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  #1123  
Old 03.02.2015, 23:58
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you do realise that when we say peg, we are not saying it is a peg?
Yes, but why call an Apple a Banana?
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  #1124  
Old 04.02.2015, 00:18
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Yes, but why call an Apple a Banana?
Because in effect it is/was, and it's much more simple to write than any other wording.
Look up Tüpflischiisser
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  #1125  
Old 04.02.2015, 00:52
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... it's much more simple to write than any other wording.
P... E ... G

C ... A ... P

Nope, doesn't seem any simpler.
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  #1126  
Old 04.02.2015, 01:21
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Last week my husband pointed out to me that the market was really being pushed, the spikes indicated to him that a big player was working hard to manipulate the exchange rates.

What ever one wants to call it, the SNB vice president stated late last week that they were prepared to intervene, now we have some confirmation of that fact.

I'd like to know where Thomas Jordan is now? It seems he's disappeared from the public eye.
As posted before, Tagesanzeiger claim the SNB spent 15 billion last week trying to stabilise the CHF - now who could that big player have been?
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  #1127  
Old 04.02.2015, 04:47
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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According to Tagesanzeiger today; the SNB spent 15 billion last week trying to weaken the franc. That is an annual rate of 750 billion

Are they all nuts! Was it Maggie Thatcher who said you can't beat the market?

Already in October 1972 a guide of the London Stock Exchange explained that we had to realize that there are various markets. There are
- trade with Company shares
- trade with currencies
- trade with Gold and silver etc
- Export markets
- Tourism markets


It is the Job of the SNB to work in favour of
- the Export industry (the mainstay of Swiss income)
- the Inbound tourims (the second pillar of the economy)


Dr M Thatcher knew all this very well but electioneering demands simple statements

Last edited by Wollishofener; 04.02.2015 at 04:58.
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  #1128  
Old 04.02.2015, 04:56
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Last week my husband pointed out to me that the market was really being pushed, the spikes indicated to him that a big player was working hard to manipulate the exchange rates.

What ever one wants to call it, the SNB vice president stated late last week that they were prepared to intervene, now we have some confirmation of that fact.

I'd like to know where Thomas Jordan is now? It seems he's disappeared from the public eye.

There are various BIG PLAYERS in the game. He might be a bit more specific,


Mr Jordan was to drop the PEG as the BIGGEST of all Players got in and this is economic reality. The Merchandise value of the EURO had, noticeable to experts but not to laymen like me, come down to between 1.05 and 1.10
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  #1129  
Old 04.02.2015, 08:15
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There are various BIG PLAYERS in the game. He might be a bit more specific,


Mr Jordan was to drop the PEG as the BIGGEST of all Players got in and this is economic reality. The Merchandise value of the EURO had, noticeable to experts but not to laymen like me, come down to between 1.05 and 1.10
Wolli -- you're getting confused about that word "value" again, and about the direction of the movement of the EUR.
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  #1130  
Old 04.02.2015, 14:07
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...The Merchandise value of the EURO had, noticeable to experts but not to laymen like me, come down to between 1.05 and 1.10
If that would be so, why is Konstanz crowded with cross-border shoppers every day? If your statement was true, at 1.20 Kreuzlingen should have seen Germans exploit the irrationally weak Franc. However, I only see shop closures in Kreuzlingen and Konstanz bustling with Swiss shoppers. Both before& after Jan15.
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  #1131  
Old 04.02.2015, 14:19
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If that would be so, why is Konstanz crowded with cross-border shoppers every day? If your statement was true, at 1.20 Kreuzlingen should have seen Germans exploit the irrationally weak Franc. However, I only see shop closures in Kreuzlingen and Konstanz bustling with Swiss shoppers. Both before& after Jan15.
Well there is more to the Swiss prices than the exchange rate.
For example, last week Migros were advertising 660 gram fresh chicken breast strips for CHF15.40 instead of CHF 22.00. But that is still double the German prices.

Or last Friday we were in a pizza restaurant in Germany and had 2 pizzas, 2 bottles of mineral water and a half of Chianti; cost 29 euros.
Next day we were in a Swiss pizza restaurant and had the same menu and it cost CHF 85.00
The only difference was I preferred the Chianti in Germany.
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  #1132  
Old 04.02.2015, 16:39
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Or last Friday we were in a pizza restaurant in Germany and had 2 pizzas, 2 bottles of mineral water and a half of Chianti; cost 29 euros.
Next day we were in a Swiss pizza restaurant and had the same menu and it cost CHF 85.00
The only difference was I preferred the Chianti in Germany.
I find this diet choice somewhat curious....same meal, 2 days in a row
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  #1133  
Old 04.02.2015, 16:44
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

Marton was caught on camera with his brothers

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  #1134  
Old 04.02.2015, 16:48
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I find this diet choice somewhat curious....same meal, 2 days in a row
I find it curious that a group of more than one person (implied by the "we") should not down a whole bottle of chianti. I can't remember the last time I ordered wine by anything less that the bottle (other than in CH, but then it wasn't for drinking reasons but because of the price).

I'm just back from Spain and there I went to an Argentinian restaurant with a Spanish friend and we each downed a soup, a massive steak, a dessert, a carajilo and jointly put away a bottle of wine and when the bill came it was for 48 Euros. In Switzerland the steak alone would have cost more - at the supermarket. But my friend was aghast that anything could be so expensive.
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  #1135  
Old 04.02.2015, 17:09
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

I had set some high rates for target exchange on the CurrencyFair Marketplace recently, but when the trend seems to be going down I simply played more conservatively (and only to reduce the margin of exchange compared to the rate in the morning, really).

Now I have put away some nice foreign currency for later (especially if my contract doesn't renew and my next job doesn't pay in Swiss Francs). Only problem is that it is stuck in CurrencyFair for now and I can't seem to find an economic / practical way to get it in cash.
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  #1136  
Old 04.02.2015, 17:17
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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...stuck in CurrencyFair...
Same here! I wonder if the "parked" funds are a "real" part of their business model, or if that´s just a tiny side-effect. With interest around zero, how much might they possibly be making out of it, especially since they can´t touch that money (or can they?).

Specifically about the SGD I wonder: If they can move money into Singapore, but not out (prohibited by local regulations over there), where do they get their SGD from, if it´s supposedly peer-to-peer. Seems to contradict itself by definition?
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  #1137  
Old 04.02.2015, 17:22
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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Same here! I wonder if the "parked" funds are a "real" part of their business model, or if that´s just a tiny side-effect. With interest around zero, how much might they possibly be making out of it, especially since they can´t touch that money (or can they?).

Specifically about the SGD I wonder: If they can move money into Singapore, but not out (prohibited by local regulations over there), where do they get their SGD from, if it´s supposedly peer-to-peer. Seems to contradict itself by definition?
I suppose they have to be making some money from whatever is in CF accounts, a lot like a bank in a way. They also charge a fee to move money out of CF. Finally, IIRC they state that no matter if you trade on the Marketplace or via Quick Exchange, they extract a small amount for their commission but the rate you see already includes whatever they make.

As for the SGD, no idea. Is it possible to have accounts outside Singapore in SGD? I suppose people could also load another currency in CF (other than SGD) and trade it for SGD (creates the SGD liquidity, which is all not necessarily immediately divested into other currencies or into SGD accounts off CF)? Beats me, help me out here.......
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  #1138  
Old 04.02.2015, 17:25
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

With interest rates so low, better hope they aren't tempted to go to Las Vegas with it.
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  #1139  
Old 04.02.2015, 17:31
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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With interest rates so low, better hope they aren't tempted to go to Las Vegas with it.
I don't care as long as they remain all black, otherwise I'll be all red.
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  #1140  
Old 04.02.2015, 17:37
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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I don't care as long as they remain all black, otherwise I'll be all red.
What's New Zealand got to do with it?
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