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Swiss National Bank did it again!

So… the Swiss National Bank finally thought, we’d start a new round to fight
the strong Swiss Franc! Today at 10:00 a.m. local time, the SNB set the
minimum reference value EUR-CHF to 1.20 – and is willing to keep that goal
by buying foreign currencies with no limit!

So what does that mean to the single one of us here in Switzerland?

Holidays in far destinations get more expensive, german tourists may benefit from the stronger Euro.

Sure, a strong Swiss Franc isn’t good for our economy, but are such currency shocks either?

We can buy less as we do not earn more!

Those with vast amounts of money to gamble with on currencies have got 10% plus within 10 minutes!

All in all: Only the fat cats in the top levels have made a big deal today. The average Worker still has only negative efects from this huge currency shock.
They say that a strong Swiss Franc would have led to massive layoffs. I say, that this is only a lame excuse as these companies were already about to lay off employees, no matter of the Swiss Franc.

For me, the whole finance system stinks like rotten fish as the exporters now can continue as usual, harvest the standard citizen till he drops and change absolutely nothing!

The currency gamblers may still gamble with dubious businesses like bets on currencies…

And the average worker?
He can just watch what ails him and has no cure. He has to learn only one thing: No money, no honey, no dough!

But it’s true: The fish starts stinking from the head…

So what will the next thing be: A reference exchange value of 2:1?

This year’s elections may become very interesting as many bonkers will probably have to clear their seats!

(note the set area: 0.16 CHF!!! – And the graph barely fits in the chart!)

September 6, 2011 Netspark - 1594 posts - Member since: May 9th, 2011 No Comments »

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