Swiss Franc Devalued overnight

DoctaGlockta · 09-06-2011, 07:50

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

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.

DoctaGlockta · 09-06-2011, 11:02

Quote:

Originally Posted by UneasyRider

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

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.

JK-linux · 09-06-2011, 10:05

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

gotplastic · 09-06-2011, 19:21

Quote:

Originally Posted by DoctaGlockta

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

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.

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.

gotplastic · 09-07-2011, 18:43

Quote:

Originally Posted by cowboy1964

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.

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!

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

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.