 Poster: A snowHead
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Just been speaking to a client moving to Aussie. When they started the process 2 yrs ago it was 2.25 to the £ - It is now 1.50 to the £. It is not just the Swiss Franc that is causing people trouble.
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Frosty the Snowman, ..and they are still moving?
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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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boredsurfin, yes.... must be deaperate to leave but there again; Middlesbrougth or Perth WA... not a difficult one is it 
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Frosty the Snowman, More convenient for Niseko 
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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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With the current price inaction, lack of progress and effectively a good set of resistance points set for EUR/CHF any more short term progress is likely to be marginal: EU industrial production is once again turning sluggish and equity markets are basically saying may,be perhaps maybe they were oversold last week. Perhaps not.
The background to all the recent stuff was the US downgrade by Moodys and the D word: Default really isn't on the cards, not at least the pack I hold. The real concern and $64 question which hasn't really been addressed yet is; When the USA services its debt, what will the USD be worth? You may not be able to measure this in GBP or EUR, perhaps not JPY either: Think in terms of Commodities such as Oil, coal, Coffee, Wheat, Pork Bellies, Potatoes, Corn, Tobacco, Water, Gas. Then add in currencies such as Gold and CHF. One of the scarier details of the massive and rapid 25% sell off in equities was that this movement was accompanied by very large volumes shares. For most of this crisis since August/Sept 2007 most of these moves have occurred with thin volumes. The increase perhaps is not insignificant.
The riots in the UK last week were an horrific example or perhaps mild taster of how bad anarchy can be. The cause of the riots is still being debated and I’m not suggesting this should be a thread for SnowHeads. Much of the UK were polarised into two camps: those that want to understand the underlying issues, if they exist and fix them and the other side that just want things fixed with rioters shot on sight. Just one thought: These riots were not orchestrated or joined for life or death reasons – shops and homes were not raided by starving hordes in search of food: If they were, what would a CHF cost in pounds?
Germany after the war saw people carting wheelbarrows full of Reich marks that wouldn’t buy a loaf of bread: Things are better there now. They have BMW’s.
I met with a bank treasurer in Geneva in 1984/5 and he told us he was leaving, so wouldn’t be around next time we came. We asked where/what he was going to do and he basically said he really didn’t like the way the world was shaping up and he had bought a farm with its own water supply on the Italian border and he planned to grow potatoes. He figured whatever “money” was worth, potatoes would always have a “food” price which could be bartered/exchanged for whatever he needed. Maybe he was right.
sunnbuel, Have you bought your Swissy yet? 
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Potatoes have about a 10 times turnover yield, approximately depending on the variety and the weather. Interestingly potatoes prefer rain to lots of dry sunny days, so is more suited to places like Ireland and Scotland than Italy. Of course provided you irrigate the land well, you should have no problem but that has an extra cost.
For each potato you plant you will get back 10 times that amount. So if you put £1 worth of potatoes bought as seed or from supermarket, you will get 10 x that back.
Potatoes prefer acidic soil. There is actually an AIM company listed (PIL: Greenvale potatoes) which grows potatoes in the UK. If it were not for its extremely abnormally large final salary pension scheme deficit, it would be a useful addition to any portfolio.
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Amazing the information (whether accurate or not, who knows?) that can emerge from a thread about the Swiss franc. As a matter of interest, Bigtipper, why do you almost invariably end your posts with an eye-rolling emoticon?
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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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Alastair Pink, 
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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Jivebaby, not yet, although i was a bit tempted at 1.235, trouble is thats still pants. I'd thought about what you said and based on the extra 1000chf i want to top up by came to the following conclusions. Chf is unlikely to drop below 1.10 but might well hit 1.3 or 1.4 (about 200quid difference?) if i buy at 1.23 (today) its not that brill as its only worth about a 70 quid loss to me if rate drops and i have to buy at to 1.10. So might as well be optimistic and wait? i am definitely rambling 
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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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You know it makes sense.
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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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| Quote: |
When they started the process 2 yrs ago it was 2.25 to the £ - It is now 1.50 to the £
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Frosty the Snowman, the whole point of this thread is the horrific exchange rate.
We could only dream of 1.50 to the pound!
It dropped to 1.11 Swiss Francs to the pound last week  but has since "rocketed" to 1.20!
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Bergmeister, I think you'll find he's talking about the drop in the rate of the Australian Dollar!
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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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| Quote: |
I think you'll find he's talking about the drop in the rate of the Australian Dollar!
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I must read things more thoroughly
I must read things more thoroughly
I must read things more thoroughly
I must read things more thoroughly
I must read things more thoroughly
I must read things more thoroughly
I must read things more thoroughly
I must read things more thoroughly
I must read things more thoroughly
I must read things more thoroughly
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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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nixmap, I stand corrected (for now)....things look less horrific (although still pretty awful)- I just hope the correction is sustained.
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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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Bigtipper, Friend of ours now retired had a spud farm oop North and his biggest worry each year was getting the b00gers out of the ground, each year at least one of his boys would get a tractor and picker stuck in the mud. Some years a huge % of his crop would simply rot in the ground.
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Swiss currency rates is being discussed on Chris Evans on R2 this morning. As you would expect it's not in depth and very light hearted.
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| Chris Angus wrote: |
| I just hope the correction is sustained. |
no I want parity by Christmas
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boredsurfin, you need good drainage where it rains a lot. 
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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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If anyone wants some thought provoking research regarding the problems and solutions, PM me with your email address and I'll forward the research which has the usual disclaimers etc on. 
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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If you own in Switzerland, oh my god, now is the time to sell.
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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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As I'm not holidaying in Switzerland I thought, who cares, then realised I'm travelling through Geneva in Nov! I need to hope that the are no delays at the swiss airport as the bar bill will be huge!
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GVA is also a train station and at the far end of the station there is a Migros supermarket which never, ever closes. I understand it's the only shop in CH that stays open permanently. It sells sarnies, beer etc more or less all the essentials
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You know it makes sense.
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Jivebaby, that's useful info...but I thought Migros didn't sell alchohol?
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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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they don't, I think there are other shops at station level that do though
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Poster: A snowHead
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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bar shaker, in many ways I agree....but my wife and kids have banned that topic (I have parity as a SELL point whatever they say!)
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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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Having thought about it a bit more, and comparing it to the Japanese currency, the conclusion I come to is that the money which is moving to Switzerland is
a) Swiss money overseas which is being transferred back to Switzerland
b) Bankers trying to find a place to hide their stash before the banks around the world collapse
c) Swiss companies trying to minimise capital assets overseas
When the equity risk premium rises as it is doing currently, you end up with a Japanese or Greek style economy. Both have extremely high levels of government debt, yet one has low government bond yields and the other high.
One government solves the problem by cutting expenses, the other by spending and borrowing more. Which is better, a perpetual deflating economy, or being unable to borrow at all?
If the western economies stop to think for a minute, they have to deflate whilst the emerging economies grow. It is natural for this to occur, and unnatural to assume we can all grow at the rates which have been achieved in the past. When the emerging economies have equalised per capita GDP, either by their growth or by the deflation of western developed economies, then there will be a level playing field.
Until then your government can choose between following Japan, or Greece!
Which is better?
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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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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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^ China is overloading on debt, too.
They have just hidden it better. So far.
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| Bigtipper wrote: |
Having thought about it a bit more, and comparing it to the Japanese currency, the conclusion I come to is that the money which is moving to Switzerland is
a) Swiss money overseas which is being transferred back to Switzerland
b) Bankers trying to find a place to hide their stash before the banks around the world collapse
c) Swiss companies trying to minimise capital assets overseas
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The Swiss Franc is rising because of a neverending wave of speculative cash that washes around from one sector to another every few years.
A while back, oil was hot. Now, the Franc is hot. Eventually, something different will be hot.
The herd rules.
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We were in Davos and Klosters last new year, very few Brits around. Also thin on the ground were German, Dutch etc.
Plenty of Russians in evidence, but they were mostly there for the Ice Hockey.
So its all Euro zone people feeling the pinch against the Chf.
I believe the Chancellor was also in the vicinity, but I guess he must have been eating in McDonalds as we saw no sign of him!!!
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Reuters article "FOREX-Swiss franc jumps, govt will 'live with' strength" 31 Aug 2011 - 17:53
* Swiss franc climbs, government accepts strength the scaling back of currency intervention speculation
pushed the euro down 2.3 percent to 1.1572 francs *
The Greek question will re-emerge as the critical vote nears at the end of September so perhaps look for a range of 1.10 to 1.20 with more danger on the down-side: 
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You'll get to see more forums and be part of the best ski club on the net.
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Franc jumps to 1.365 against £ as Swiss National Bank promises unlimited intervention to maintain CHF:€ at 1.20.
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Swiss national Bank has intervened today.. put in a ccy peg ag the euro at 1.2..
oh dear will they never learn
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