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Martinghoul
Registered: Jan 2009
Posts: 5641 |
09-06-11 01:47 PM
Quote from CrazyBoy:
It would appear to myself asthough these speculators that the SNB are only to readily prepared to 'blame' for the rise in the Franc over the last 4 years perhaps live a little closer to home than the SNB would have you believe.
They live in Switzerland and the peripheral Eurozone countries.
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CrazyBoy
Registered: Apr 2009
Posts: 41 |
09-06-11 01:53 PM
Quote from Martinghoul:
They live in Switzerland and the peripheral Eurozone countries.
I've been bearish on CHF since July, took a touch of drawdown and didn't make anywhere near as much money as I could have if I had been patient upon my choice of entry, as ever, but not anymore.
Personally, I applaud the SNB because this decision has taught myself the final piece of the price action jigsaw.
Thankyou Big speculators 
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DT-waw
Registered: Apr 2001
Posts: 2184 |
09-06-11 01:57 PM
The Swiss government has basically told the world that they will print as much money as it takes, and buy up as much crap sovereign debt as they can, to competitively devalue the currency.
This essentially puts Switzerland in the same sinking boat as Italy, Greece, and Portugal… with one key difference: Switzerland has 0% interest rates.
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.
http://www.zerohedge.com/news/guest...mmediate-effect
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noone3
Registered: Apr 2007
Posts: 373 |
09-06-11 01:59 PM
wow i just noticed the huge move on the EUR.USD
i was so lucky that i was sleeping at the moment so i didnt get out of my shorts!
so the eur.usd moved and came all the way back...but the eur.chf stayed at 1.2, and so did the usd.chf
So...why did the EUR.USD make that move again?
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CrazyBoy
Registered: Apr 2009
Posts: 41 |
09-06-11 02:05 PM
Quote from DT-waw:
The Swiss government has basically told the world that they will print as much money as it takes, and buy up as much crap sovereign debt as they can, to competitively devalue the currency.
This essentially puts Switzerland in the same sinking boat as Italy, Greece, and Portugal… with one key difference: Switzerland has 0% interest rates.
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.
http://www.zerohedge.com/news/guest...mmediate-effect
That is if you believe the policy of a bank that failed to tell you that they intended to set a 1.2 base exchange rate against the EUR, before it happened. It's to obvious for my liking.
I'd much rather have been told about that intended change yesterday... I could now be sipping cocktails with Martinghoul.
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