January 16, 2015 at 6:18 pm #34694
The Swiss central bank had decided to stop pegging the Swiss Franc to the Euro. They had promised to keep supporting it with all the resources they had. Then surprise, they were no longer going to support it. The value of the Swiss Franc just shot up 30% versus the Euro in one day. There have been warnings that this could force the Swiss economy in a recession and wreck general havoc on the European economies. This could spell real trouble for the Euro. It could cause others to follow suit.
But more ominous, is that China has pegged their currency to the dollar, and have propped it’s value up. What if China decided to do the same thing? What would that mean for the dollar and our economy?January 16, 2015 at 6:37 pm #34697
The Swiss do not depend on the Euro at all so I can see were they are coming from. Now the Chinese have a different problem with us. Europe is going down right now and so is Russia’s economy so if they do anything to the dollar what will happen is China will collapse with the U. S. since we are there largest consumer of the products China manufacturers. They will not be able to sell to Europe or Russia and all the oil producing countries are also in trouble so who is left? Not Japan they are in trouble too! So you see the Chinese do not know what to do but eat the dollar till it collapses on it’s own.January 16, 2015 at 7:02 pm #34698
Roadracer, when you think about this the Swiss maybe right to pull out now. The Swiss may survive the world wide collapse if there is no war and no other country attacks them. But remember that in Switzerland they are have a weapon given to them by the government. They are the only country that every Swiss citizen has a weapon.January 16, 2015 at 7:07 pm #34699
The Swiss Difference: A Gun Culture That Works
Here is a part of the article “The Swiss are very serious not only about their right to own weapons but also to carry them around in public. Because of this general acceptance and even pride in gun ownership, nobody bats an eye at the sight of a civilian riding a bus, bike or motorcycle to the shooting range, with a rifle slung across the shoulder.”
They are one of the only country in Europe that you can own a gun.January 16, 2015 at 8:56 pm #34702
The Swiss have mandatory military service. Everyone is in the reserves. They store their military weapons in their homes.January 16, 2015 at 9:11 pm #34706
74, What the Swiis do is the right way to go. Criminals have to really think hard to break into a house there.January 16, 2015 at 9:19 pm #34707
They also have a national holiday where everyone goes to the range and shoots.January 16, 2015 at 9:23 pm #34709
WOW! The Swiss have it made!January 16, 2015 at 9:24 pm #34710
I don’t think they have criminals.January 16, 2015 at 9:31 pm #34713
They don’t have criminals, they let you have guns and have a national holiday were everyone goes to the range! What is going on here! I have been there once when I was 14 years old and can tell you that ti is the cleanest and most beautiful country in Europe. The streets are all clean. That would be a good country to go to but they have a very good immigration policy too!!! Not many get in.January 16, 2015 at 9:37 pm #34716
They don’t have criminals because they shot them all. Lol.January 16, 2015 at 9:51 pm #34718
The Swiss have raised banking to an art form. Their prudent and conservative approach to life has paid dividends through their history. So when I see them changing direction in their philosophy toward the Euro, it raises the alert flag. This sure looks like the tip of the iceberg. Added to the growing nationalist movement in Europe and we will see the unraveling of the Euro sooner rather than later. If that occurs, then the dominos will start to fall everywhere.January 16, 2015 at 9:59 pm #34719
Very good point Roadracer. Just think how much private money is in their banks. If I were a wealthy person I think I would start turning a lot of my money into francs. It will be interesting to see if the value of the franc continues to skyrocket.January 16, 2015 at 10:51 pm #34722
Swiss neutrality is # 1. In ww2 they were also neutral. They don’t want EU membership. They don’t want open borders with the muslims. That would be some insanity right there. Will the Swiss get their gold back from the Ny Fed. No way. This political union with crooks and big QE is going south for them. The US has screwed Europe into land war with massive numbers of refugees hitting their borders.January 17, 2015 at 9:00 am #34741
Switzerland is not a member of the EU, its a member of the EFTA-the European Free Trade agreement, like the UK Switzerland does not use the Euro.
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