Monday, April 6, 2015

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The tribulations of the Swiss franc | Jordi Franch couple Weblog
We know that the country has no money. Or rather, if any. Looking for a safe country that guarantees its value in an atmosphere of discretion informative. So our politicians (and relatives), large grabbers efforts of others, even defend the soundness of the Spanish financial system, prefer to convert other currencies into euros beyond the Pyrenees. A currency has been traditionally coveted Swiss franc. Switzerland, palladio folsom the small Central European country, has always been known for its formality and good practices. Without natural resources, has one of the most important assets and few: a government transparent and professional, and make work that leaves the true creators palladio folsom of wealth: families and businesses. With a population palladio folsom similar to that of Catalonia, palladio folsom the Alpine country is internationally known companies such as Nestlé, Rolex, Swatch, Novartis, Roche and Adecco. Public finances are balanced palladio folsom and are wasteful excesses away from other latitudes, especially in Southern Europe. This makes its own currency, the Swiss franc, issued by the central palladio folsom bank, is a stable currency and solvent. Especially attractive when other currencies fiduciary, as the dollar and the euro, are mentioned in a mad race to devalue its value and try to gain short-term gains with absurd policies impoverished neighbor. The Swiss central bank should not finance a corrupt state and obese. This makes the currency and financial system is the destination of many international capitals. As a result, palladio folsom however, so demand for Swiss francs causes excessive appreciation of the currency. And that, in an economy territorially small and very open to the outside, potentially destabilizing effects. Cheaper imports, but punishes exports, as the Europeans have to pay much more expensive.
To avoid unwanted overvaluation of the Swiss franc, the Helvetic authorities decided in 2011 to set a limit to the appreciation 0.83 euros per Swiss franc (or what is the same, a minimum of 1.20 Swiss francs per euro). To maintain the fixed exchange rate, the Swiss central bank pledged to buy euros on the market paid by issuing its own currency. And so it was until Thursday of last week, when he decided that was enough to buy euros and fill your balance European currency. Curiously, or not, this has been a week before Mario Draghi made public posting purchasing sovereign debt. The sense of decency of the Swiss lender must be prevented ECB ECB when the lender becomes corrupt governments like Greece and Spain (and Portugal and Italy). The tribulations of the Swiss franc are important for teaching derived.
In monetary terms, a small country faces a triple dilemma. The first, in Greek, is eligible to regain its own currency and finance ravings of a State wasteful spending. The immediate consequences are the currency depreciation and inflation, loss of international confidence and radical impoverishment palladio folsom of the population. Second, palladio folsom the Swiss is to contain public expenditure and the rate of currency issue. The consequences are the currency appreciation and deflation of domestic prices, maintaining the confidence of world capitals and enriching the whole population, despite strong export sector is hurting. The third, also in Switzerland (until last week) is to link the value of its own currency to the currency of the area in which most trades (the euro). With the first, the currency depreciates and the country loses too. With the second, the currency and the country loses much appreciated. With the third, the country is forced to cede autonomy in monetary internships and irresponsible country also lost. So what can you do to lose? There is no alternative but to recover assets monetitzable than the liabilities of any other bank. In short, leave the employer-dollar trust, and recover the gold standard.
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