USD/CHF is even more unreal. 5 months of gains wiped out in 5 days! Nearly 2000 pips given up, bloody amazing..
i am swiss (home of the CHF), there was right today a survey in the newspaper... they asked people wether they find it good that the government plans to spend pretty much money to stimulate the economy and therefore gives up a balanced budget for the year... most say, NO, it would be better to keep a balanced federal budget. 2nd question, what should they do in years with a positive budget. Options: 1) cut taxes 2) pay back debt. and a vast majority went with 2).... just gives you an idea how an economy could be run too... and since we have a direct democracy those ideas go directly into day-to-day politics. would probably be a good thing for the us too... where the politicians and federal reserve are going nuts... let the people vote wether to bail out the big 3 or not... let them decide wether to spent massive amounts to stabilize the economy and thus devaluating the $ and get massive inflation in the not so far future... i think, they would do better than those in power... (well, they probably couldn't have done it worse so far) imho it would be better to have really big pain for a short period of time, than pain for decades. btw: i think the european union isn't really any better... good not to be part of it
Maybe not. It is a move based on fundamentals. Zero interest rates in the US with increasing money supply, 2% in EU with decreasing money supply.
What disturbs me is the % increase in the EURO and CHF but not Pound Sterling or Yen. Euro is reserve. CHF is gold-backed. Spot Gold is 875, amidst deflationary conditions. Smells like a ramping up.
these people are idiots. swiss banking dwarfs the swiss GDP many times over. If they think swiss bankers are the smartest people in the room, then go tell that to UBS,CS or better to GS,MS You guys are in such trouble its not even funny how bad you will all blow up.