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-   -   Swiss Franc Devalued overnight (http://glocktalk.com/forums/showthread.php?t=1367658)

DoctaGlockta 09-06-2011 07:50

Swiss Franc Devalued overnight
 
The Swiss Franc was devalued by their central bank overnight.

When the 'safest haven' currency can do this then it can happen to any of them.

This is big news or as VP O'biden said 'A big f#$%ing deal'.

Not sure what one can expect next from the markets except disorder and chaos.

Keep sharp gentlemen.

Deployment Solu 09-06-2011 09:39

My investment in gold is still good...Speer GoldDots, that is!!!!

Bilbo Bagins 09-06-2011 09:41

Swiss employing the currency version of a "Nuclear Option"

http://finance.yahoo.com/news/Swiss-...html?x=0&.v=11

Currency markets are going to be nuts today

UneasyRider 09-06-2011 09:57

Quote:

Originally Posted by Bilbo Bagins (Post 17878377)
Swiss employing the currency version of a "Nuclear Option"

http://finance.yahoo.com/news/Swiss-...html?x=0&.v=11

Currency markets are going to be nuts today

I hear the sound of the herd getting anxious... watch out for the stampede.

JK-linux 09-06-2011 10:05

If it hurts the right people, then it could be a good thing. Who knows?

DoctaGlockta 09-06-2011 11:02

Quote:

Originally Posted by UneasyRider (Post 17878457)
I hear the sound of the herd getting anxious... watch out for the stampede.

I'm not sure most people understand how close we really are to the brink of global financial fubar.

cyrsequipment 09-06-2011 11:10

Quote:

Originally Posted by DoctaGlockta (Post 17878707)
I'm not sure most people understand how close we really are to the brink of global financial fubar.

They think that Obama will fix everything, right after he lowers the sea levels.

gotplastic 09-06-2011 19:21

Quote:

Originally Posted by DoctaGlockta (Post 17878005)
The Swiss Franc was devalued by their central bank overnight.

When the 'safest haven' currency can do this then it can happen to any of them.

This is big news or as VP O'biden said 'A big f#$%ing deal'.

Not sure what one can expect next from the markets except disorder and chaos.

Keep sharp gentlemen.

Not big news actually, it's been expected and widely written on. They did it because they are the 'safe haven' currency and want to limit the rise in their currency. By tying it to the euro and intentionally devalueing it on purpose it restores the strength of currency for visiting tourists, exports, etc... The dollar is still in trouble, but this is not a big deal.

Akita 09-06-2011 20:31

Quote:

Originally Posted by gotplastic (Post 17880747)
Not big news actually, it's been expected and widely written on. They did it because they are the 'safe haven' currency and want to limit the rise in their currency. By tying it to the euro and intentionally devalueing it on purpose it restores the strength of currency for visiting tourists, exports, etc... The dollar is still in trouble, but this is not a big deal.

This is what I was going to post, but you did it much more intelligently. :thumbsup:

cowboy1964 09-06-2011 21:27

Europe is what's going to crash everything globally. Germany or someone will walk away from the Euro and that will be that. Unfortunately I entirely expect the U.S. and the IMF to bail them all out instead, adding trillions more to our debt.

BORNGEARHEAD 09-07-2011 00:14

NWO. It's all part of the plan. :whistling:

racerford 09-07-2011 12:21

What the Swiss Franc was devalued? OMG I guess that means their economy is going to crash and they will become a 3rd world country in a matter of weeks! Massive inflation will be just around the corner!

gotplastic 09-07-2011 18:43

Quote:

Originally Posted by cowboy1964 (Post 17881538)
Europe is what's going to crash everything globally. Germany or someone will walk away from the Euro and that will be that. Unfortunately I entirely expect the U.S. and the IMF to bail them all out instead, adding trillions more to our debt.

Germany is fine, they won't bail the EU on their own though. As long as France holds together than the EU is fine. If France falls then Germany bails on the Euro. The US and IMF can't bail them out, the IMF is just a bank with various gov'ts as their depositors, if the gov'ts dont have money to deposit then the IMF doesnt have money to lend.

cowboy1964 09-07-2011 19:04

I'm not the only one saying there is potential for Germany leaving the Euro. This just came out today:

http://www.theblaze.com/stories/new-...if-euro-fails/

gotplastic 09-08-2011 19:34

Quote:

Originally Posted by cowboy1964 (Post 17885483)
I'm not the only one saying there is potential for Germany leaving the Euro. This just came out today:

http://www.theblaze.com/stories/new-...if-euro-fails/

I agree, there are a lot of people saying it, but there is a major gap between 'possible' and 'probable'. Germany is about the best run industrialized country out there right now. I'm pretty sure they are smart enough to understand the ramifications of staying or leaving with the Euro; even without the guidance of 'the blaze'. As long as they are not alone in providing support for the Euro they have more to lose in leaving.

The EU collectively has too much to lose right now if the Euro fails. They'll stick together and ride this out till things stabilize. I suspect then they will begin a more organized approached to breaking some of the tight ties that got them into this mess. That's probably more 5-10 years from now.


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