jesus, just sarcasm. all financial firms are going to bust, since finance is beneficial only in scarcity. in modern times there is 50x more goods and services than people are able to consume. and 2x more real estate than population is able to occupy. the monetary system will tumble and it does not matter if its german, american, swiss or norwegian. riots in europe are coming. and some sort of revolution is just around the corner.
I see... So why would anyone care what the SNB does with the Swiss Franc? If it's revolutions, blood on the streets and all that, shouldn't really matter, right?
yes it is- the whites v the blacks- history repeats itelf- " there is no such thing as a black welsh man"
Jimmy is a bad trader, but good investor. Yet, more interesting is the weakness of EUR/USD for now. Maybe ECB and SNB are in some sort of a deal? Eurozone needs a weaker Euro, SNB a weaker CHF. Maybe SNB is buying EUR for Swissies, selling against EUR/USD at the same time? Trichet is certainly not complaining against weaker Euro. USD stregthening. CHF weaker. Every central banker is fine with this result, or?
seems logical. losses on EURCHF offset by gains from EURUSD short. There is no doubt Asia will end up as a world leader in global finance very soon. The days of City of London and City of Vatican are numbered. Western nations are older and dumber every year. I also think the economic power of Japan is underestimated. When you calculate their black markets, its much bigger economy than officially. They're the 2nd biggest holder of U.S. debt. Tokyo is the biggest metropolitan area in terms of GDP in the world. pachinko is bigger than japanese car industry. Its the most modern country in the world with the most educated, hard working workforce. If China could copy their success.....
Japan must have made huge dollar (perhaps not so much in yen) profits on their US bond holdings. I'm assuming they bought when yields were far higher.
no other nation spends more on: - sex - travel - restaurants (see pirelli guide) - video games - electronic gadgets - clothes than Japan. The reason why U.S.A is bigger in terms of official total GDP is the fact that US waste money on: - cia / war on drugs - military - prisons - lawyers