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The Swiss franc is again sharply lower vs. the dollar and the euro after a newspaper report the...

The Swiss franc is again sharply lower vs. the dollar and the euro after a newspaper report the government and SNB are in "intense" talks over a currency peg. The idea of a peg is clearly working its magic by weakening the swissie over the past 3 sessions, but practical implementation of such is a different story. Franc -1.2% vs. the dollar, -1.6% vs. the euro.
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Comments (8)
  • wyostocks
    , contributor
    Comments (8054) | Send Message
     
    Another futile attempt by government bureaucrats to disrupt the order of the market.
    14 Aug 2011, 08:44 PM Reply Like
  • bearfund
    , contributor
    Comments (1534) | Send Message
     
    Gold is money, nothing else.
    14 Aug 2011, 09:42 PM Reply Like
  • AxiosCap
    , contributor
    Comments (291) | Send Message
     
    Pretty sure a currency peg would require a change in their constitution. Good luck with that and even if they try it will take a long time. This isn't going to happen soon if my original assertion is correct.
    14 Aug 2011, 11:39 PM Reply Like
  • EMS
    , contributor
    Comments (578) | Send Message
     
    This is travesty. They have no debt but want to hitch their wagon to this crappy Euro, with Trillions in debt. I'd say this is $ 200-300 + for gold at the minimum. This was predictable as the Swissie took off to the stratosphere. Bankers rum amok. They will burn for all to see.
    15 Aug 2011, 12:01 AM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    The real problem is that the rest of the western world is so debt ridden that the Swiss Franc wins the beauty contest with ease but it harms their exports. One of the benefits of being responsible I guess.

     

    It is mathematically impossible for the worlds largest economies to trash their currencies and for small Switzerland to provide a place of refuge. They don't have a large enough economy.

     

    Back to Gold, Silver and commodities.
    15 Aug 2011, 12:13 AM Reply Like
  • EMS
    , contributor
    Comments (578) | Send Message
     
    It (Swissie) is more beautiful than the rest for sure.

     

    They are devaluing, although they can't truly crash their currency. They can't sell that many watches to make it worthwhile.

     

    They are not trying to be a place of refuge. That't the point TVP.

     

    That is good for gold
    15 Aug 2011, 12:23 AM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    EMS

     

    Duh!

     

    Any other obvious points?
    15 Aug 2011, 12:50 AM Reply Like
  • rooksmith
    , contributor
    Comments (88) | Send Message
     
    Who is "talking" about a Peg? Sounds like a Rumor planned by someone manipulating the currency pairs.

     

    Like the story says, implementing it would be difficult. The dollar and the euro are both being devalued by creating more currency. The Swiss Franc is up because they have their house in order.

     

    The Swiss should take advantage of the high Franc and buy beachfront property in Spain, Greece and Portugal, and rent it out to the Germans. (kidding on that last part!)
    15 Aug 2011, 04:35 AM Reply Like
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