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BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro

 
NWO propaganda.
User ID: 1537183
France
09/06/2011 06:08 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
After the BNS doubled the CHF money supply after the huga gap up against the euro, today it ties the CHF to the euro mad train heading to the giant wall accross the railway, this an act of treason, Switzerland will go bankrupt with the EU and disappear, mark my words.
 Quoting: NWO propaganda. 1537183


i guess there was good reason for the bilderberg-meetings 2011 to take place in switzerland.
 Quoting: Anonymous Coward 1500444


Well last couple trips they had brought chaos into the hosting countries (Greece,Portugal,UK), remember that pegging the CHF to the euro that way is an act of treason, this should have been decided by the public in a national referendum, the argument of corporations, small and little business going under is a fraud, Swiss people interest do not rely only on private business exports. imported energy and goods costs were shrinking because of the failing euro, once again the private sector is in someway bailed out but the public is again pulled in the mud.
Anonymous Coward
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United States
09/06/2011 06:12 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
the collapse is just the beginning.
Anonymous Coward
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Germany
09/06/2011 06:14 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
I think that the Swiss are very smart people. And I think that this move is a good one.
Now Central Europe is financially united against the carpetbagging attacks from Wall Street and London banks that have taken place during the last months.

Seems that they cannot make the Euro crack before their own Dollar and Pound goes down the toilet.
NWO propaganda.
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France
09/06/2011 06:23 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
I think that the Swiss are very smart people. And I think that this move is a good one.
Now Central Europe is financially united against the carpetbagging attacks from Wall Street and London banks that have taken place during the last months.

Seems that they cannot make the Euro crack before their own Dollar and Pound goes down the toilet.
 Quoting: Anonymous Coward 1537193


It's the opposite, this will throw switzerland under the EUSSR bus, think in terms of freedom and independance not finance and greed buddy.
Anonymous Coward
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Australia
09/06/2011 06:27 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
So that's who did this to the Euro why did they do this?
Anonymous Coward
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Germany
09/06/2011 06:34 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
very nice...there are no 0 safe haven currencies other than gold and silver
 Quoting: Anonymous Coward 1179416


+1000!

Reuters:

"The Swiss National Bank said on Tuesday it would set a minimum exchange rate target of 1.20 francs to the euro and would enforce it by buying foreign currency in unlimited quantities.
"

Muhahahah, go GOLD go SILVER !


anaanaanaanaana
belowodje

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Switzerland
09/06/2011 06:42 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
So what happens now? Where do all the investors look to place their money?
 Quoting: NORMAL GUY


GOLD, what else?
Anonymous Coward
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Germany
09/06/2011 06:42 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
anybody from switzerald should be rioting here. Your government is selling you out. You just had 10% of your savings wiped out
 Quoting: Anonymous Coward 1179416


So, does it mean that if I had 10,000 francs in my bank account and suddenly I have only 9,000?
 Quoting: Anonymous Coward 1288731


Yes if you buy something in Euros chuckle
Anonymous Coward
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Germany
09/06/2011 06:45 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
I think that the Swiss are very smart people. And I think that this move is a good one.
Now Central Europe is financially united against the carpetbagging attacks from Wall Street and London banks that have taken place during the last months.

Seems that they cannot make the Euro crack before their own Dollar and Pound goes down the toilet.
 Quoting: Anonymous Coward 1537193



This is called "Beggar Thy Neighbor Politics"
OR "Race to the weakest Currency"

Refrain:

"My Currency is weak, it like Kitchenpaper, no my Currency is weaker its like Toilettpaper"

chuckle
Anonymous Coward
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United States
09/06/2011 06:48 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
So what happens now? Where do all the investors look to place their money?
 Quoting: NORMAL GUY


I keep hearing the word "investing". By investing, do you mean lending your money so something good comes of it and is created from it? Or do you mean simply increasing your wealth by doing nothing but shuffling your money around? Perhaps you should rethink your intentions.
kk123

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United Kingdom
09/06/2011 06:49 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
(The Source is the Wall Street Journal Online's site for European real-time analysis [link to blogs.wsj.com]


Posted by Katie Martin

The Swiss National Bank has shaken up the foreign-exchange market like a pit bull with a rag doll.

Tuesday, it took the nuclear option, and decreed that the euro shouldn't trade below CHF1.20 against Switzerland's cherished currency, effective immediately. The central bank will buy unlimited quantities of foreign currencies to make this happen, it said.

The euro absolutely rocketed against the Swissie, surging from around CHF1.12 to, naturally, CHF1.20. The franc also plunged against the dollar. But the impact didn't stop there. As ripples spread through the wider market, the euro rocketed against the dollar, while the buck also surged fast enough against the yen to make some traders wonder if the Bank of Japan was involved (it wasn't).

Some early thoughts on this:

1: Who knew? The franc was under pronounced downward pressure against the euro well before the SNB dropped this clanger, with market insiders scratching their heads for a reason. "This is the dodgiest thing I have seen in the market in 30 years in the business," said one old-timer.

2: This is going to make it very difficult indeed for the G-7 to lecture China about the yuan. If it's OK for Switzerland to hold its currency down, then why not China? As David Bloom, chief currencies strategist at HSBC, said: "It's typical of the differences we are seeing. The West criticizes the Chinese for not liberalizing their currency, and they're doing exactly what the Chinese were doing."

3: The SNB is now going to be financing a large chunk of the euro-zone bailouts. As it said, it will buy vast amounts of foreign currencies, likely chiefly euros, to keep the franc depressed. Should it now get a say in how the Greek bailouts are structured?

4: What will Jean-Claude Trichet say when he hosts the regular press conference on Thursday? The European Central Bank chief has previously frowned at unilateral central-bank intervention in foreign-exchange markets.

5: What will the Japanese do? The yen, a rival safe-haven currency of the Swissie, also weakened after the SNB's move, albeit on a far smaller scale. For some traders, Swiss intervention to stem franc strength can only raise the risk that Japan will be forced to respond in kind.

More analysis will come when we have absorbed this shock-and-awe moment.

hiding


This move by the SNP is gonna shake things up big time, historians may look back at this intervention as the pivot point of the endgame.
Anonymous Coward
User ID: 1298967
United States
09/06/2011 06:52 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
(The Source is the Wall Street Journal Online's site for European real-time analysis [link to blogs.wsj.com]


Posted by Katie Martin

The Swiss National Bank has shaken up the foreign-exchange market like a pit bull with a rag doll.

Tuesday, it took the nuclear option, and decreed that the euro shouldn't trade below CHF1.20 against Switzerland's cherished currency, effective immediately. The central bank will buy unlimited quantities of foreign currencies to make this happen, it said.

The euro absolutely rocketed against the Swissie, surging from around CHF1.12 to, naturally, CHF1.20. The franc also plunged against the dollar. But the impact didn't stop there. As ripples spread through the wider market, the euro rocketed against the dollar, while the buck also surged fast enough against the yen to make some traders wonder if the Bank of Japan was involved (it wasn't).

Some early thoughts on this:

1: Who knew? The franc was under pronounced downward pressure against the euro well before the SNB dropped this clanger, with market insiders scratching their heads for a reason. "This is the dodgiest thing I have seen in the market in 30 years in the business," said one old-timer.

2: This is going to make it very difficult indeed for the G-7 to lecture China about the yuan. If it's OK for Switzerland to hold its currency down, then why not China? As David Bloom, chief currencies strategist at HSBC, said: "It's typical of the differences we are seeing. The West criticizes the Chinese for not liberalizing their currency, and they're doing exactly what the Chinese were doing."

3: The SNB is now going to be financing a large chunk of the euro-zone bailouts. As it said, it will buy vast amounts of foreign currencies, likely chiefly euros, to keep the franc depressed. Should it now get a say in how the Greek bailouts are structured?

4: What will Jean-Claude Trichet say when he hosts the regular press conference on Thursday? The European Central Bank chief has previously frowned at unilateral central-bank intervention in foreign-exchange markets.

5: What will the Japanese do? The yen, a rival safe-haven currency of the Swissie, also weakened after the SNB's move, albeit on a far smaller scale. For some traders, Swiss intervention to stem franc strength can only raise the risk that Japan will be forced to respond in kind.

More analysis will come when we have absorbed this shock-and-awe moment.

hiding


This move by the SNP is gonna shake things up big time, historians may look back at this intervention as the pivot point of the endgame.
 Quoting: kk123

3: The SNB is now going to be financing a large chunk of the euro-zone bailouts.

You mean like they did during WWII when they took Hitler's gold and gave him Francs to buy what he needed from other countries?
Anonymous Coward
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Australia
09/06/2011 06:54 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
Who is printing euros at this point? Have the Germans got it under control, or the Dutch?
Anonymous Coward
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Switzerland
09/06/2011 06:55 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
[link to img716.imageshack.us]
Anonymous Coward
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09/06/2011 06:58 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
 Quoting: Anonymous Coward 1500444

rockon
banana2
Back to the stone age
User ID: 1537327
France
09/06/2011 07:57 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
These stupid fucks gonna regulate the euro instead of stackin' up gold bullions, the Eu tards did the same by buying dollars and selling their gold reserves, this is called sabotage! the storm isn't so far away now.
NORMAL GUY

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Spain
09/06/2011 08:16 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
Markets shaky again...A big sell off could happen prior to the US opening! Anyone agree? Where do you all think we are now at in the current financial SHITPIT?
The most perfect place to be is... With your own thought,s on a silent mountain with the sun on your back, a breeze on your face and peace in your soul......
aussie kaffir
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Australia
09/06/2011 08:27 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
anybody from switzerald should be rioting here. Your government is selling you out. You just had 10% of your savings wiped out
 Quoting: Anonymous Coward 1179416


we already know that. it's nothing new. we should have rioted when they sold us out to UBS in 2008.
but the SNB is not the govt, it's a private institution and they can do whatever the fuck they want. :|
 Quoting: Anonymous Coward 1500444


Now that the Franc is no longer a safe haven where to next ?
 Quoting: Anonymous Coward 1315838


The Chinese Yuan.
 Quoting: Anonymous Coward 1500444


bump-ity fukn bump
Pump and slump
User ID: 1537327
France
09/06/2011 08:28 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
Markets shaky again...A big sell off could happen prior to the US opening! Anyone agree? Where do you all think we are now at in the current financial SHITPIT?
 Quoting: NORMAL GUY


We're entering the final stage that leads to the western bailout bubble explosion.
Anonymous Coward
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Australia
09/06/2011 08:53 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
Markets shaky again...A big sell off could happen prior to the US opening! Anyone agree? Where do you all think we are now at in the current financial SHITPIT?
 Quoting: NORMAL GUY


We're entering the final stage that leads to the western bailout bubble explosion.
 Quoting: Pump and slump 1537327


In other words, you can now borrow in francs at 0% and buy government-backed euro garbage yielding 5%, 10%, 30%…. with absolutely no downside currency risk.

Here’s a practical example you can do– open a FOREX trading account and borrow Swiss francs at 0.5%. Buy the EURCHF cross and simply hold euro cash, paying 0.65%. At 100:1 leverage (quite common in FOREX trading), that translates into a 15% return simply for HOLDING CASH with no downside currency risk.

It’s free money, courtesy of the Swiss National Bank. I’m just waiting for the next wave of margin hikes. Needless to say, this is utter madness and will absolutely hasten the end game for Europe
Pump and slump
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France
09/06/2011 08:58 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
Markets shaky again...A big sell off could happen prior to the US opening! Anyone agree? Where do you all think we are now at in the current financial SHITPIT?
 Quoting: NORMAL GUY


We're entering the final stage that leads to the western bailout bubble explosion.
 Quoting: Pump and slump 1537327


In other words, you can now borrow in francs at 0% and buy government-backed euro garbage yielding 5%, 10%, 30%…. with absolutely no downside currency risk.

Here’s a practical example you can do– open a FOREX trading account and borrow Swiss francs at 0.5%. Buy the EURCHF cross and simply hold euro cash, paying 0.65%. At 100:1 leverage (quite common in FOREX trading), that translates into a 15% return simply for HOLDING CASH with no downside currency risk.

It’s free money, courtesy of the Swiss National Bank. I’m just waiting for the next wave of margin hikes. Needless to say, this is utter madness and will absolutely hasten the end game for Europe
 Quoting: Anonymous Coward 1222831


Euro is going down the shitter, talk about no downside currency risk makes no sense to me IMHO.
Anonymous Coward
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Spain
09/06/2011 09:12 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
Elenin and swiss franc 10 jajaj:
Oh my god¡
[link to www.youtube.com]
xen

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Australia
09/06/2011 09:25 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
I think that the Swiss are very smart people. And I think that this move is a good one.
Now Central Europe is financially united against the carpetbagging attacks from Wall Street and London banks that have taken place during the last months.

Seems that they cannot make the Euro crack before their own Dollar and Pound goes down the toilet.
 Quoting: Anonymous Coward 1537193


+10000000

currency markets are even more manipulated than stock markets. japan, US and britain have been buying their own currency for a long time with their monopoly money. at least the swiss are publicly doing this and providing the manipulators with a deterrent and some resistance on their attacks against the euro
VedaTeaching

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India
09/06/2011 09:38 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
Ok so seriously what does this mean? The markets are reacting in a positive manner, but is it just another short term bounce? Also how will this affect the US markets and in general the EURO as a currency? Sorry to sound stupid, but I just dont get finance, as it all seems to be smoke and mirrors!
 Quoting: NORMAL GUY


The implications are as follows:

a. Since SNB buys German and French bonds with inflows, swiss franc is essentially as good or bad as euro.
b. Swiss franc loses its status as an investment currency.
c. It may be a relief for swiss banks as runaway flows to swiss were putting too much attention on swiss banking.

Switzerland is a small country vis-a-vis its neighbours. So it is very hard for it to drain money from them and survive.
VedaTeaching

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India
09/06/2011 09:45 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
These stupid fucks gonna regulate the euro instead of stackin' up gold bullions, the Eu tards did the same by buying dollars and selling their gold reserves, this is called sabotage! the storm isn't so far away now.
 Quoting: Back to the stone age 1537327


This house of cards is built on fiat currency. The welfare state of europe is not built on gold but fiat. How can they let go?

Gold cannot be printed as needed. There is unlimited supply of paper and ink.
NORMAL GUY

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09/06/2011 10:31 AM
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Re: BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
All red across the board except for UKs small up, and Swiss markets 3.something%....What will the last hour bring for Euro & US?
The most perfect place to be is... With your own thought,s on a silent mountain with the sun on your back, a breeze on your face and peace in your soul......

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