Swiss franc not highly valued, Swiss National Bank chairman says (REUTERS) ZURICH, Oct 1 (Reuters) - The Swiss franc is not highly valued despite its nominal rise, Swiss National Bank Chairman Thomas Jordan told a Swiss newspaper, adding the central bank intended to be deliberately vague about how it sees the safe-haven currency. "In the past, we referred to the Swiss franc as being highly valued or even significantly overvalued in order to give a signal regarding the need for intervention. At the moment, the Swiss franc's valuation is no longer clearly high, and we do not want to comment on every move," he told the Neue Zuercher Zeitung paper in an interview released on Saturday. His comments come as the SNB focuses on using franc strength to fight inflation after years of currency intervention and negative interest rates to keep a lid on the franc for fear it would cripple the export-dependent economy. read more Jordan said he did not see a period of competitive currency appreciation as other central banks adopt the same strategy. "The yen is at a historic low, the pound sterling has lost significant value and the euro is comparatively weak. I don't see signs of competitive appreciation. The two strong currencies, the U.S. dollar and the Swiss franc, are considered safe havens," he said. Jordan said the SNB's balance sheet was a policy instrument it could use alongside its policy rate to ensure price stability. "We are not going to reduce our balance sheet simply because of the sheer size, but if it helps us ensure price stability, of course we will," he said. Winding down the SNB's balance sheet "will probably take considerable time", he said. "If we were to sell large amounts of foreign currency holdings immediately, this would create too much appreciation pressure. The most favorable time to sell is when we have inflationary pressure, interest rates are clearly positive and the franc is showing a weakening trend."
The reign of Swissy is over. Theyknow it and I know it. Five waves up are complete. Its all disaster in the making for Swissy over then next decade. Watch my trendline for a breakdown and then watch CNBC for the uproar of how dollar is banging swissy real good. For the even larger picture of how/why Swissy's days are numbered dig this long hsitory chart of swissy from the 1900s
Those sons of b*tches aka The Gnomes of Der Schweiz turned in 18 of my friends to the IRS for their accounts held at UBS. IRS threatened them and they dropped sausages all over th place and betrayed the Secrecy act and now who gives a rat's ass, they broke their word to the public. IRS bled 50k American citizens like there was no tomorrow. raped them dry. They just assumed these americans were criminals when in actual fact rhey were super smart investors and doing nothing even remotely illegal. Their crime? Not declaring to the IRS that they had foreign accounts as per FATCA. Can't get no respect no more. Your mattress is far safer than Switzerland nowadsays. The Gnomes of Switzerland can kiss my ass
Swissy real pain yert to come ................... when the 200-month ema breaks Swissy will be crying like a baby. Target is the previous Wave 4 as shown in the chart. Bye bye Swissy. You mess with my California buddies, you pay dearly.
Where have you been? The Swiss agreed to Report to IRS on U.S. citizens with Swiss accounts years ago. Your friends are criminals and got caught. They are supposed to report their foreign accounts on their tax returns. Maybe they will next time.
I am talking about years ago but the story got to me much later. The only criminals I know are fellas who willingly do not shield their hard earned money from the sons of b*tches ready to rob it. Another thing I've learned and it can be applied to YOU .......... those who profess honoesty and integrity, would when nobody is looking f**k a chi***en in the a** The Swiss agreed to report ot the IRS after they wer threatened with all sorts of shit by the IRS - ity is wht broke the secrecy laws and buggered up yet another country. Is ther anything we do NOT f**k up? Afghanistan, Iraq, Syria, Russia ................ you name it we are on a killing spree And Iraq? Nobody gone to jauil yet. Lovely!!! One of the Swiss bank Americans was the Pops of my friend. He was an Investor. His only crime was being a buy and hold fella making gobs of dough. A criminal? The Pops would make Jesus look like a sinner.
There already is nowhere to hide, nowher to go. Jesus H Christ, now THEY are going after CASH, anyone who has CASH. They will advertise and put out bad karma that those who have CASH are criminals Yet, in a DEFLATION, cash is the smartest thing to have as everyhting else is dropping in value relative to cash and your cash can scoop up zillions of Nasdaq shares and so on etc., CASH is KING in a Deflation but these sons of b*tches will not let you partake of such exotic momentous pleasure as dropping a 100 dollar ill or 5 20s on a homeless fellow with a thunderous reproach "go get yourself some food now" Jimmy (Jim, Morrison) was right ............... get your kicks now before the whole shithouse goes up in flames!!!
Cayman and Panama are already dead, dead, dead .............. if you're amerian you're a goddamn cancer and they tell you sheepishly, "we cannot entertain americans no more" Singapore too