summary switzerland news

12.08.2011
interview to mr gysi on abgeltungssteur , germany , fishing expedition. by the way, gysi was appointed on march 2011 at the snb board replacing konrad hummler. thanks hildbrand. continues w/ artcile by peter morf on swiss page on details of state secretary international finance michael embuehl w/ germany agreement under attack now by sp oppostion cause like an amnesty. switzerland pay chf 2 bio collected w/ a bank levy!
ansteckung, contagion, editoriaL FUW
chf pegegd to eur, peg rumors invert the trend , finally, rumors, rumors, snb and hilderbrand understood that rethroic is an important war tool. yuppi!
Peter bernholz, economic prof basel, specialist of currency history, in favor of peg, disocunt rate @ 0% increases balance sheet liquidity to chf 120 bio, swaps operations to fight appreciation.
peter morf,applauds the snb intervention ( was there any or was it simple words?) and warns against public spending indicating it wrongly as the cause of recession while suggesting that there is no solution to market liberalisation, sic, the paradox of switzerland! the stock market adjusted will the domestic economy follow? impossible, there would be social wars.
chflibor in negative territory, zkb changes tones and declares no interest rates increase sic david marmet, no currency targets, only highlight is threat of recession in switzerland

zurich insured its total stocks w/ 2.2% of the portfolio!

china vcurrency appreciated to 6.4 vs usd , not seen sinvce 1994 , wow duds , what r u up to?

10.08.2011
kenneth rogoff blasts debt as hindering growth
canada experience after lsing triple a and recovering soon after
german utilities and withdrawal from nuclear
7.08.2011
preter bernholz, prof basel, specialised in currency history , makes it clear , snb lacked the guts, ideas and will to enact a coherent policy to defend the chf, a reflection of its president philippe hildebrand who prefers to attend international conferences for lobbying rather than doing the dirty job in bern.he did not anything control the expectations on chf. this happened in 1970s w/ president leutwyler following leo schuerman proposal and setting negative rates and eventiually forex intervention. according to chris woods from clsa however this would not work and stands for nhegative rates . nota bene , chris woods is just bull sheeter abt switzerland

real estate speculation in CH , not really according 2 sarasin bank specialist who states that funding costs for inevstors= 5%. really but where did u come up with this figure ? further, interesting point, finma, snb and gvmnt set up advisor comittee , self regulartory banking rules should not benefit owners.

26.7.2011
fuw editorial defending chf strength with flawed arguments, no proof that strong chf is not affecting exports, they look backward not forward as w/ stock market . It looks the real ideological arm of economie suisse and the financial lobby while the stock market is freezing because of the chf strength. We re hostages of this ricola men, of their pride 2 b perfect island. Sooner or later they will be hit by an avalanche falling down the alps.
According to oecd big mac criteria chf 50% appreciated big mac ratio where 1 ch big mac buys 2 american ones. In case of sovereign crisis ch banks have a total balance sheet of 2700 billions.this will bring down siwssies too.
UBS, fuw recommends to avoid shares! Not good sign , investment banking and regulatory pressure constrain expectedearnings. Stoxx bank 2x higher from their lowest , ubs and csgn at their lowest, owing to chf strength and the us irs pressure.
Yale University endowment fund targets 7% return w/ HF, Private Equity and Real Estate, avoids stocks
thematic investment, sociological study top down approach . Stephen cheetam comes up with these typologies, emerging middle class, heightened cyclicality,energy transformation, web2.0, genomic age, financial reformation. Thisd what should be called, the AGE OF FINANCIAL REFORMATION.
article on gold mining stocks, better positioned than gold, barrick gold and nem, among others. Nem expensive, Yamana Gold , Kinross from CAD cheap. Goldcorp, Barrick ,all from CAD. RBC study