12.08.2011

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.