Sweet Jeevus, the Swiss Franc has been pegged :(

Discussion in 'Currencies' started by Clawhammer, Sep 6, 2011.

  1. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    "
    The current massive overvaluation of the Swiss franc poses an acute threat to the Swiss
    economy and carries the risk of a deflationary development.

    The Swiss National Bank (SNB) is therefore aiming for a substantial and sustained
    weakening of the Swiss franc. With immediate effect, it will no longer tolerate a EUR/CHF
    exchange rate below the minimum rate of CHF 1.20. The SNB will enforce this minimum
    rate with the utmost determination and is prepared to buy foreign currency in unlimited
    quantities"

    Read more: http://www.businessinsider.com/wow-...-new-level-franc-plunges-2011-9#ixzz1XAMK6WwA
    http://www.businessinsider.com/wow-...ervention-to-a-new-level-franc-plunges-2011-9
     
    Clawhammer, Sep 6, 2011
    #1
  2. Lovey80

    Lovey80 Well-Known Member

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    WTF that's is so so irresponsible. It will erode the wealth of many for short term gains. Ridiculous.
     
    Lovey80, Sep 6, 2011
    #2
  3. jpanggy

    jpanggy Active Member

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    Actually, high chf only protects those that has saved, but it is slowly killing industries.

    Depression of 1930s lasted so long not because of hyperinflation, but due to deflation, no spending and cash hoarding, back then cash is gold standard.
     
    jpanggy, Sep 6, 2011
    #3
  4. Naphthalene Man

    Naphthalene Man Active Member Silver Stacker

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    Oh, i thought that you were talking about those gold coins that i love...
     
    Naphthalene Man, Sep 6, 2011
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  5. thatguy

    thatguy Active Member

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    that's insane but to be expected... us and others next
     
    thatguy, Sep 6, 2011
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  6. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

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    Graph from the same article quoted above showing USD vs CHF


    Epic 8% jump


    [​IMG]
     
    THUCYDIDES79, Sep 6, 2011
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  7. jparrie

    jparrie Member

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    Mr. Soros should be licking his lips again!
     
    jparrie, Sep 6, 2011
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  8. Dabloodymess

    Dabloodymess Active Member

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    I love how they so say the swiss Franc is overvalued, not a mention of the USD and other currencies worldwide simply losing value.... typical :rolleyes:
     
    Dabloodymess, Sep 6, 2011
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  9. projack

    projack Well-Known Member Silver Stacker

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    The Swiss have to make up their mind if they peg to the euro or make those 0.5 gram gold coins,
     
    projack, Sep 6, 2011
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  10. thatguy

    thatguy Active Member

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    And they mean it !

    Guest Post: A Central Bank Running Suicide? SNB Prints At Pace Not Seen Since EUR/CHF Parity In August 2011
    http://www.zerohedge.com/news/guest...rints-pace-not-seen-eurchf-parity-august-2011

    mmm are reminted kooks more appetizing mass printed CHF? :D
     
    thatguy, Jun 4, 2012
    #10

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