Is the Swiss National Bank running a covert op against Russia?
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Is the Swiss National Bank running a covert op against Russia?
1–7 of 7 posts
Re: Is the Swiss National Bank running a covert op against Russia?
#2Part of Putin's money just got 45% boost because they were in Swiss frank. That's all. So Putin and his friends will just say "thanks, lol". Maybe it's not so long story as in article, but article is just to far from reality, sorry.
Re: Is the Swiss National Bank running a covert op against Russia?
#3Part of Putin's money just got 45% boost because they were in Swiss frank. That's all. So Putin and his friends will just say "thanks, lol". Maybe it's not so long story as in article, but article is just to far from reality, sorry.
In numeric value, but not buying power. The "value" of that money is going down, and they will now have to pay about 1% a year to hold it overseas.
Re: Is the Swiss National Bank running a covert op against Russia?
#4Part of Putin's money just got 45% boost because they were in Swiss frank. That's all. So Putin and his friends will just say "thanks, lol". Maybe it's not so long story as in article, but article is just to far from reality, sorry.
In numeric value, but not buying power. The "value" of that money is going down, and they will now have to pay about 1% a year to hold it overseas.
Only if you are buying in CHF. For anybody who holds money in CHF but spends EUR/RUB their money just became a lot more valuable.
Re: Is the Swiss National Bank running a covert op against Russia?
#5This really doesn't make much sense to me. There were a lot of good reasons for the SNB to drop their peg to their EUR, probably first and foremost the potential of quantitative easing being introduced for the EUR. This would have made it more and more expensive to keep up the fixed exchange rate.
I also don't see any reason why this would have affected Russians more than people from any other country. So if your goal is to hurt Russia, I don't think this was a good way to do it.
Re: Is the Swiss National Bank running a covert op against Russia?
#6Generally speaking, central banks don't dabble much in foreign policy.
That is hysterically naive.
Re: Is the Swiss National Bank running a covert op against Russia?
#7On the other hand, if you are Russian with Swiss francs, you are now worth lots and lots more roubles and seeing that it costs you to hold money in Switzerland, you're going to take that money out of Switzerland and return it to Russia.
You're actually better off and spending that money in Russia. Putin should be very pleased with the Swiss.