Discussion in 'Forex Brokers' started by sunnyskies, Mar 19, 2007.
GFTUK (London), ODL Securities (London), SaxoBank (London)
Why do you want a chf account?
For one thing, CHF is the only asset that is partially still backed by the gold standard, or so I have been told. That's why it's so stable. That and the fact they don't get involved in politics.
So you are going wiring your deposit (USD) and flipping it to CHF, trade and take back profit from the CHF account in USD?
CHF is stable? Against what? CHF moved about 100 pips today. That's not st-able, that's trade-able.
I was just giving an example that some forex traders have done. I don't trade forex, I trade currency futures at times and trade in USD.
Many stable currencies move 100 pips, from time to time. It's still the most stable currency, CHF, compared to any other, except maybe GBP IMO.
I wish I weren't holding some many $USD it's going down over time for sure. I wouldn't be surprised to see 1.50 Euro/USD in the future. It will take time though. The USD is f*cked, plain and simple. I would not want to be in Paulson and Bernake's shoes.
Long term the US$ is going to shit.
ummm, CHF hasn't been backed by gold in over 7 years...
it's stable due to political and economic stability...definitely not due to gold.
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