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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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  #1301  
Old 07.08.2015, 14:27
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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The EURO now back at 1.07 is real Progress


whenever Blick by a minor mistake wrote that the Euro had arrived now at 1.73
I got a shock too when I saw that.

They probably meant 1.073, because it's currently sitting at 1.075, another 100+ pips up for Aug.
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  #1302  
Old 07.08.2015, 14:51
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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The 16 billion is a Swiss Franc gain in their investment portfolio. According to the article, it came about because the Greek bailout crisis abated and both EUR and USD strengthened against the franc by 300 pips.

"Ein grosser Teil der Zunahme der Devisenreserven in Franken dürfte auf die Kursveränderungen gegenüber den wichtigsten Anlagewährungen seit dem Einlenken Griechenlands im Schuldenstreit zurückzuführen sein. So hat der Euro im Juli von 1,03 auf rund 1,06 Franken zugelegt und der Dollar von 95 auf 98 Rappen."
About "Ein grosser Teil der Zunahme...." The interesting question is how much is a "large part"; it is certainly not 100% as you post?
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  #1303  
Old 07.08.2015, 16:06
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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About "Ein grosser Teil der Zunahme...." The interesting question is how much is a "large part"; it is certainly not 100% as you post?
Well, given their track record and penchant to meddle, I wouldn't expect it to be 100% either.

Funnily enough though, if you apply a simplistic 3% gain across their entire portfolio of CHF 529.5 billion at end Jun, the figure turns out to be 15.8 billion.
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  #1304  
Old 08.08.2015, 01:03
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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 got a shock too when I saw that.

They probably meant 1.073, because it's currently sitting at 1.075, another 100+ pips up for Aug.


It of course was 1.073 but exact Research never was the forte of Blick. Their plus is the Speed and that they Report whatever they get
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  #1305  
Old 13.08.2015, 12:18
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EURO to CHF

As THIS Thing of UBS
EUR

1.0868*Shows is the EURO almost at 1.10 again

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  #1306  
Old 07.12.2015, 11:08
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

Looks like the SNB still have a fight on their hands!

Swiss foreign currency reserves are reported to be SFr562.7bn in November, up from SFr551.5bn in October.
Consequently Switzerland is number 4 on the list of countries with highest foreign currency reserves; although if Saudi Arabia keeps plundering its reserves we may soon be number 3.
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  #1307  
Old 07.12.2015, 11:45
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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Looks like the SNB still have a fight on their hands!

Swiss foreign currency reserves are reported to be SFr562.7bn in November, up from SFr551.5bn in October.
Consequently Switzerland is number 4 on the list of countries with highest foreign currency reserves; although if Saudi Arabia keeps plundering its reserves we may soon be number 3.
Is this a good thing or a bad thing? Clearly if the CHF loses its value huge profits could accrue...
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  #1308  
Old 07.12.2015, 12:09
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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Is this a good thing or a bad thing? Clearly if the CHF loses its value huge profits could accrue...
High bets on currency are always very risky, so with Switzerland & Swiss people being highly risk averse it's a bad play.
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  #1309  
Old 07.12.2015, 12:43
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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High bets on currency are always very risky, so with Switzerland & Swiss people being highly risk averse it's a bad play.
The problem is: the only scenario where this would play out right now is if Switzerland's economy tanked (way) below that of the EU.

That's not something you really want to happen.
Plummeting real estate values would then be the least of anybodies concerns...
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  #1310  
Old 07.12.2015, 12:48
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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The problem is: the only scenario where this would play out right now is if Switzerland's economy tanked (way) below that of the EU.

That's not something you really want to happen.
Plummeting real estate values would then be the least of anybodies concerns...
Well that scenario is far from impossible.
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  #1311  
Old 07.12.2015, 12:51
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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Well that scenario is far from impossible.
Unfortunately, yes.
That's why I really don't like that bet.

At least, I'm not leveraged to six times my yearly income on a house (yet).
But I love my job. Would hate to have it see disappear. ;-)
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  #1312  
Old 07.12.2015, 14:21
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

Ah, "we're all doomed". It's now 34 years and counting since I first heard a Swiss state that his country had hit the buffers and nothing but disaster loomed. And it's been a rallying cry ever since.

Yes, Switzerland has changed a lot in that time and it is not nearly so "comfortable" and unemployment is no longer at 0.2%. But where else is more "comfortable"?
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  #1313  
Old 07.12.2015, 14:48
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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Ah, "we're all doomed". It's now 34 years and counting since I first heard a Swiss state that his country had hit the buffers and nothing but disaster loomed. And it's been a rallying cry ever since.

Yes, Switzerland has changed a lot in that time and it is not nearly so "comfortable" and unemployment is no longer at 0.2%. But where else is more "comfortable"?
I don't think we are all doomed, however future salaries will be lower in CH than in the past. 1200 a day in IT was common 15 years ago so just more if the same. 50 % salary cut over 20 years won't seem odd as we are not that far away after 15.
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  #1314  
Old 08.01.2016, 13:17
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

SNB announced a 23 Billion loss for 2015; lower than many were expecting earlier in the year - the first half of 2015 showed a loss of around double this.

To everyone's surprise the SNB will still send money to the Bund and Kantons; should generate some small relief for us taxpayers as their budgets were set assuming no SNB payment.
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  #1315  
Old 11.01.2016, 23:18
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

Kanton Zug is asking tax payers to delay paying to avoid the Kanton paying negative interest!
Source http://www.ft.com/intl/cms/s/0/1b580...#axzz3wyMaKBBp
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  #1316  
Old 11.01.2016, 23:29
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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Kanton Zug is asking tax payers to delay paying to avoid the Kanton paying negative interest!
Source http://www.ft.com/intl/cms/s/0/1b580...#axzz3wyMaKBBp
That link is for subscribers only, unfortunately. Shame, I wanted to verify it wasn't the Daily Mail in disguise!
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  #1317  
Old 11.01.2016, 23:32
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Re: SNB Pegs CHF to the EUR!!! [and the aftermath of the removal of the cap]

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That link is for subscribers only, unfortunately. Shame, I wanted to verify it wasn't the Daily Mail in disguise!

Sorry!............
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  #1318  
Old 12.01.2016, 05:21
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Thomas Jordan to quit

THE question of the season :
How long will it take
until Thomas Jordan resigns from the SNB presidency ?
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  #1319  
Old 12.01.2016, 07:25
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Re: Thomas Jordan to quit

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THE question of the season :
How long will it take
until Thomas Jordan resigns from the SNB presidency ?
Maybe he's waiting till he gets a good job offer as a part-time director on some board. Who knows?
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  #1320  
Old 12.01.2016, 07:30
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Re: Thomas Jordan to quit

CO.president of FIFA ?
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