Tuesday 6 September 2011

protect yourself in a freefall

[who's got a boner?]

by latching onto another idiot that is also freefalling.
Why bother freefalling in the first place?
Because there's a currency war going on.
The Euro US buck and British pound are all nose-diving as a way of defaulting
on debt. So, traders have to invest in a currency. They can't just leave things be.
So, they're going for the yen, the Scando kronas, and the Cayman's Doughnut Hole.

Switzerland has just flattened its great Franc
by linking it with the Euro,
and not allowing it to go below 1.20 francs = 1 euro

So, as the Euro falls, and it will continue because they're avoiding
killing off their banks that are super-indebted.
kick-the-can becomes new national Euro sport.

By the way, the Yodlers tried this last year and fell flat on their faces, and they lost a wad of money, huh-huh-huh (Fudd voice).

hey all you snuff freaks, check this
[it is in keeping with the theme of freefalling-for-idiots. no such thing as a no-risk jump.]


checkitout:
Swiss bid to peg 'safe haven' franc to the euro stuns currency traders
Move – which effectively devalues the Swiss franc in an attempt to protect the economy – sparks fears of new currency war
* Graeme Wearden
* guardian.co.uk, Tuesday 6 September 2011 13.14 BST
Switzerland sparked fears of a new currency war on Tuesday after it pegged the Swiss franc against the euro in an attempt to protect its economy from the European debt crisis.
The Swiss National Bank in effect devalued the franc, pledging to buy "unlimited quantities" of foreign currencies to force down its value. The SNB warned that it would no longer allow one Swiss franc to be worth more than €0.83 – equivalent to SFr1.20 to the euro – having watched the two currencies move closer to parity as Switzerland became a "safe haven" from the ravages of the eurozone crisis.
The move stunned currency traders, and sent the Swiss franc tumbling against other currencies. Jeremy Cook, chief economist at currency brokers World First, said it was "intervention on a grand scale", and the start of a "new battle in the currency wars".