BREAKING -Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro

Ok so seriously what does this mean? The markets are reacting in a positive manner, but is it just another short term bounce? Also how will this affect the US markets and in general the EURO as a currency? Sorry to sound stupid, but I just dont get finance, as it all seems to be smoke and mirrors!

my stash of swiss francs doesn't like that...

nothing is stable enough, if this is true

GO ICELAND GO!!!

CHF = Chit Hitting Fan

Why don't you just quit fucking around with the paper bullshit and switch to silver and gold?

Oh its true, being reported everywhere. But what is the long term outcome? Somebody please help me understand this!

So, does it mean that if I had 10,000 francs in my bank account and suddenly I have only 9,000?

After the BNS doubled the CHF money supply after the huga gap up against the euro, today it ties the CHF to the euro mad train heading to the giant wall accross the railway, this an act of treason, Switzerland will go bankrupt with the EU and disappear, mark my words.

When Wall St. opens up we'll see the fullest effects of this, yesterday's EU antics, and the much-ignored 'bank investigation' announcement on friday.

whatever is going to happen, make sure you take your vitamins, especially the B vitamins, they help with stress.

remember: don't jump out of your window. you may land on someone in the street below that didn't even realize that you were in so deep the only way out was death.

FUCK YOU MR. POTTER, THERE IS NO MORE CONFIDENCE IN YOUR CONFIDENCE GAME

yea, i think it's just a short termed reaction for the euro.
but it may not be the last one. 1.20 may just be the start. the (so called) social-democratic party of switzerland is already demanding a lock at 1.40-1.45

also the swiss franc is always vastly concurred by the euro, in the sense that many swiss people can go to buy their stuff in germany, france or italy when the CHF is to strong vs the euro.
but the euro on the other hand, doesn't really concur with the swiss franc so much, but rather with us dollar.

no! but in relation to other currencies u have lost 10%...

no. it means if you have francs for 10,000 euro in your bank account it would now still be the same amount of francs, but only worth 9,000 euro.

Therefore I assume that this is not GOOD NEWS! What do you think will be the outcome?

Ah, well thats why no-one is rioting. The Banks start dipping into peoples bank accounts and I'm sure that'll be a different matter, coz that's personal.

i guess there was good reason for the bilderberg-meetings 2011 to take place in switzerland.

lol, it is personal, it devalues your purchasing power, probably won't even notice it in the price of goods though.

The franc has appreciated against the euro substantially for 3 straight years now, it was starting to hurt the swiss economy.

So basically its Penny and Bun syndrome! FFS cant they see that this will only delay the inevitable, and regards the political side, could they protest on a parlimentary level against this freeze, or is soley at a financial level? As stated this is a real kick to any Swiss people who have/are buying anything of value in other currencies, a lot of rich people are going to be really pissed today:

I think the markets just realised this may be a bad thing lots seem to be dropping back at the moment...Or its another dead cat bounce.

EU is collapsing and banksters want the unique sovereign pig shaped state in the middle of it to follow the trend, to bring a new dematerialized currency on the global scale you must destroy or seize EVERY kind of currencies, swiss franc is being destroyed by stealth, anyways Switzerland is poised to feel the heat because once riots and civil war explodes all over the EU , switzerland will lose many of it's supplies mainly coming from and accross the EU from every angle.

Whats the bets red all across the board as soon as US opens here weary, post holiday eyes? This SHIT is going to stink the whole world out by the end of this week.

At this point, anyone's guess. BUT: THE GOOD NEWS: BOB CHAPMAN IS ON @ 10a.m. here, and i for one am NOT going to miss it. If anyone has any ideas on outcome, it would be Chapman. He's smart about the REAL reasons behind all of this SHTF too.

there will be some who will say that this is good news, but it's more like this: you're fine, you're on a stable good-sized boat, and while the water's gotten stormier and stormier, someone tells you it's a good idea to get into a smaller boat to ride it out, which of course is not such a swell idea. kinda. But the smaller boat already has several leaks. Once you're down in it, you can't climb back up rope ladder to the larger boat because the person who convinced you to boat-switch is cutting the rope ladder, rope by rope, and as he severs the last one, he says "if it gets really bad, put on the life-preserver and jump into the shark-infested waters and swim for your life. You'll be fine." - As he's whisked away, far away and safe on a big beautiful shiny helicopter made out of some precious metal.

BUT: I AM NO EXPERT, JUST A LAYMAN SUCH AS YOURSELF.

Nevertheless, since Friday, I have been thinking about this. We're going to all have a rough week...

you can bet they also see it coming.


exactly the opposite is happening.
theoretically the SNB is a private institution and thus in theory independent. but practically, this step is fulfilling what political parties (including the left wingers) are demanding since weeks.

Ok! Thanks Swiss. I suppose its just a case of sit, watch and wait to see what happens.

like usually October-November-December will be in apocalyptic red color

Thanks for the pin stranger!

this really will push people into stocks good companies owned by the elite

- buying foreign currency in unlimited quantities -

This is how dolphins work together to herd schools of fish into the shallows to feast until satiated.

Well last couple trips they had brought chaos into the hosting countries (Greece,Portugal,UK), remember that pegging the CHF to the euro that way is an act of treason, this should have been decided by the public in a national referendum, the argument of corporations, small and little business going under is a fraud, Swiss people interest do not rely only on private business exports. imported energy and goods costs were shrinking because of the failing euro, once again the private sector is in someway bailed out but the public is again pulled in the mud.