CHF 'No longer a safe haven'

Discussion in 'Forex Trading' started by Daal, Oct 1, 2008.

  1. Daal

    Daal

    I've been reading more and more that UBS and other swiss banks are in huge trouble and the size of the problem is bigger than the GDP of the country they are in, could the CHF no longer by the safe haven they were?
     
  2. Mecro

    Mecro

    CHF has been a fiat for years and was being debased for decades prior to that.

    There is no hard currency left in the world anymore.
     
  3. moarla

    moarla

    not the CHF is the save heaven, but the Swizerland :))) if you know how to do...
     
  4. just21

    just21

  5. syspool

    syspool

    UBS, CS and some other big banks with international business are riskier to have one's money in than the Raiffeisenbanks and the diverse Kantonalbanks. These are involved only in local business and are the safest banks in Switzerland. Quite safe are also Swiss government bonds. Less safe are the bank's mutual funds like the Swisscanto that invest in the money market (foreign currencies) or in the different equity markets in Switzerland and worldwide.

    Felix
     

  6. Any Kantonalbanks you recommend ?
     
  7. Daal

    Daal

    sure there are the good and bad banks but I'm worried CHF will be the next GBP. we heard so much about 'this or that wont be affected by the crisis' then bam!
    if the market change its mind of the safety and attractiveness of the Swiss banking system the haven premium goes away and who knows where the floor on CHF will be
     
  8. just21

    just21

    If the bailout deal passes then Swiss banks can sell their MBS to the US government. The crisis seems to be spreading to europe though. oh, what to buy!
     
  9. syspool

    syspool

    Although the Kantonalbank of Zürich and of Vaud had some problems in the past, they are all quite safe. The customers deposits are guaranteed by the Kanton's (province) government. Actually these Kantonalbanks are owned by the Kanton's governments. I guess the safest are the ones in the small cantons. Zug Kantonalbank for instance is very conservative and probably one of the safer ones.

    Felix
     

  10. I have been thinking that for years. How DO you do, by the way? I tried to get transferred there, but not many jobs. Would you care to give advice? If not, I understand.
     
    #10     Oct 1, 2008