 Poster: A snowHead
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| Haggis_Trap wrote: |
| Impossible to say if any of those nations would have been better off (longer term) out of the EU. |
I guess that depends upon your viewpoint, doesn't it? Have a look at this publication from eurostat.
Http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=une_rt_a&lang=enb
If you're under 25 and for example live in Greece, Portugal, Spain, or Italy it's difficult to imagine anything much worse, isn't it?
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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| irie wrote: |
| Haggis_Trap wrote: |
| Impossible to say if any of those nations would have been better off (longer term) out of the EU. |
I guess that depends upon your viewpoint, doesn't it? Have a look at this publication from eurostat.
Http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=une_rt_a&lang=enb
If you're under 25 and for example live in Greece, Portugal, Spain, or Italy it's difficult to imagine anything much worse, isn't it? |
^ for sure - things are economically bad in those nations (but slowly improving)
however lets not forget they had underlying financial problems that weren't a direct result of being in the EU.
historically they have always been poorer nations with rural economies.
perhaps devaluing their currency or even letting it crash outright in 2008 would have been a better option.
but that path would brought considerable pain as well.
the eu / euro isnt perfect - but nor is not the root of all evil either.
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You need to Login to know who's really who.
You need to Login to know who's really who.
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@alex99, and fx traders talk like that for ehat reason? No, they're not doing any marketing at all...
From a traditional asset allocation point of view, cash doesn't have an intrinsic return.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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going to Ischgl/samnaun in a few weeks I wonder if there will be a discernible difference between prices on Austrian and swiss sides when it comes to lunch etc.
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You'll need to Register first of course.
You'll need to Register first of course.
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I joined the Swiss firm on 15/01- was it my fault?
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@Nadenoodlee, paid in chuffs? 20% pay rise on Day 2. Not bad 
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@rob@rar, just about to say the same. Fizz is on Nade if she is.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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It was 1.46 first thing this morning when I went into my local branch. They didn't have any in stock but they're going to give me the same rate on Monday.
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Tell me the branch, I'll be there first thing on monday morning guaranteed. 
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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Just bought my Swiss Transfer Ticket just in case they decide to put the prices up!
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I have 20CHF at home that I bought at 2.45CHF/GBP around 2007 - its done better than any investment I have !
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You know it makes sense.
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@Frosty, I have 16CHF in coins in a drawer which have also just gone up in value!
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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@Frosty, it was about that rate when we bought an apartment in Valais. The trouble is I can't realise the "profit" as no one can afford to buy at the moment.
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Poster: A snowHead
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A few points:
One person asked why did the Swiss do this in the first place? My understanding is that the Swiss were concerned that during all the Greek etc. debt crisis and leading up to it, people were just moving money into CHF for safety and 'artificially' inflating the value of the CHF. The worry being that (a) this hit exporters and (b) such funds could just as quickly move elsewhere. So by pegging the ceiling of the the CHF to the €, they halted this but still allowed a certain degree of fluctuation and bought some time while the EU got its act together. Unfortunately, the mechanism for this was to buy $, €, £ and gold. So while it bought time for Swiss exporters to cope, the nation ended up with a load of currency and gold that it would never have bought in normal circumstances, which some argue is almost as bad. Also, sooner or later, the policy had to be dropped, at which point there would be a bit of a flap in the media. Nothwithstanding this, the CHF would then stabilise at a 'real' rate and have got through the €zone uncertainies. In some ways, you can argue that it now stands at around the same point it would have been anyway, so no one is better/worse off in the long term. There are some who say that for companies in CH to complain about the return to floating rates is a bit rich, given that the state has spent Billions on giving them a breathing space while the Eurozone stabilises. Caveat: There are obviously some people in the ForEX busines on this Forum - I defer to them if they have a different view .....
As regards negative interest rates, I believe that this only applies to commercial deposits. Current accounts aren't being charged a negative interest rate, although Swiss Current accounts are charged for transactions, account cards etc. although these are waived if you have a mortgage with the bank, a significant credit balance and various other cases. I'm getting a small (0.5%) amount of interest on my CHF UBS current account.
On a practical note, here's an article from the Valaisian 'Nouvelliste' magazine saying that buying a pass for the Portes du Soleil has now gone down from CHF 61 to CHF 51 (for the Swiss, obviously) and discussing the pros and cons from a Swiss tourism perspective:
http://www.lenouvelliste.ch/fr/en-continu/articles/index.php?idContent=1400411
Last edited by Poster: A snowHead on Sat 17-01-15 17:10; edited 1 time in total
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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It wasn't the chf that was falling, it was everything else. .
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You need to Login to know who's really who.
You need to Login to know who's really who.
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This is why I should occasionally listen to the juniors @Hells Bells, rather than have my headfones in all the time
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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@Nadenoodlee,  .
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You'll need to Register first of course.
You'll need to Register first of course.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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i wonder what the effects of a falling € will be. I think we should be wary of what we wish for.
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@under a new name, not just FX traders, but central bankers, the world's leading economists, broadcasters/journalists and pretty much everyone who commentates on the financial markets! It's nothing to do with marketing, its just generally accepted language in the industry.
if you don't like it maybe write an open letter to all of the above 
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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25chf for two bit Bircher yoghurts, a bottle of water and a croissant. That stung a bit.
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@Nadenoodlee, ouch! Where was that?
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You know it makes sense.
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@alex99, it's a misnomer.
Really, it is, from a normal asset management point of view.
It's a return from operation rather than a return from investment/skill. If you never trade FX there's no return, whereas you can generate p/l from active holdings.
Anyway, enough pedantry and fine points of capital market theory from me 
It's been snowing and I have a broken hand so I can't go skiing.
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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Poster: A snowHead
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@ALQ, quite!
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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Well swiss air flights just dropped a little so not all bad!
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You need to Login to know who's really who.
You need to Login to know who's really who.
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| russ_e wrote: |
| Well swiss air flights just dropped a little so not all bad! |
That doesn't really make sense. If their £ and € earnings are being converted in to less CHF then you would imagine the opposite. However, if the CHF is buying more $ then that may offset the lower earnings from other currencies.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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@Gaza, Maybe the current price drop is because of cheaper fuel? Longer term I guess their fuel purchase, made in dollars I'm assuming, will be a little cheaper because of the change in fx rate.
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You'll need to Register first of course.
You'll need to Register first of course.
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@under a new name, OOh ya buugger bet that smarted a bit. Hope it was you weaker hand so hasn't stopped L+M home remedies.
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@under a new name, apparently whisky has bone healing properties, but only if you drink enough.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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1.118 at Thomson money exchange today...............
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| Quote: |
Unless it's both hands..Rule 5 applies!
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Friend successfully managed that. Explaining the circumstances of that one to the doctor when it involved a standard pub CO2 cylinder, a coke bottle, and several metres of gas main that BG had left behind. (Clue is in the sig)
He had to wear jogging bottoms for a while to avoid the embarrasment of a "helping hand"
Ouch at that pic.
Just wondering how expensive my next bowl of PdS gulashsoup will feel like. Might be buying frites on the French side in June.
Not checked exact oil prices, but German petrol is almost at Austrian prices. Don't recall *ever* paying <129.9 for 98 octane in Germany, but that's exactly what I did this week. Have paid 179.9 before. At 1:1 I think my last Swiss tankful would have effectively been more expensive.
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FAQ
Tignes seems cheap 
