Dollar Drops To Record Low Against Swiss Franc

Tyler Durden's picture

It may not be gold, but it is the closest substitute to the shiny metal in the fiat space (where comparative devaluation is the name of the game once again). While the Swiss Franc has yet to retest recent lows against the euro, the USDCHF just touched an all time record low price of 0.8287, as today's theme is once again wholesale shorting of the funding (note, not reserve) currency. In the meantime Swiss exporters continue to pretend that margin compression is something best left for the comic books. And after all, Tim Geithner made it all too clear at all recent G8 meetings that it is every country's patriotic duty to welcome DXY 0 with open arms.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Bodhi's picture

Time to cancel that trip to Zurich.  I can't afford a $20 Le Big Mac.

uno's picture

Just came back from St. Thomas VI, talk about a rip off.  Restaurant prices are 2 to 3 times the price in the US, even for fish meals.  Also noticed the cab drivers there make incredible money (cash and each cab driver is an independant business), many only work 7 months a year.

Hugh G Rection's picture

Went to Geneva a few years back.  Beautiful, except for the bums mainlining heroin in the park, and the $300 dinner tab at Pizza Hut.

Overflow-admin's picture

Big Mac Menu + large frites & 5dl beverage + cheeseburger + 2x ketchup = $18.85 @ 0.8275.


So much for the EUR/CHF too... last all-time low 1.1803.

Max Hunter's picture

I about shit a brick the first time I found out they charge for ketchup in Europe...

I went to this restaurant regularly in Germany. 3-5 times a week.. I like to drink water.. I asked her for water to drink with my meal.. She said she didn't have any.. I said, give me tap water, I don't care.. I'm sick of soda and carbonated drinks.. I can't take it anymore.. She said okay and filled my water glass from the tap. Promptly added 1.20 Euro to my bill.. I never went back.. F'n Euro trash.. LOL 

White.Star.Line's picture

"Comparitive fiat devaluation" is a key concept when following currency moves these days.

Currencies today are like icebergs bobbing up and down in the ocean.
Of course, an ocean that has an open drain at the bottom of it.

SWRichmond's picture

"Comparitive fiat devaluation" is a key concept when following currency moves these days.

Yes, and it is being pursued as an obfuscation.  Watch the "comparative" rates and not their absolute buying power, which has been collapsing across the board.  Thus, the focus on USDX and not on grocery prices.

Overflow-admin's picture

Yeah we have our puppets master too...


In plain text to unjunk you

Hildebrand stands by Switzerland’s euro policy The president of the Swiss National Bank (SNB), Philipp Hildebrand, has defended the bank’s interventions to buy euros to try to counter the rise of the Swiss franc.

Hildebrand told a Club of Rome Forum in Zurich on Thursday night that the interventions between March 2009 and June 2010 were necessary at the time to combat the risk of deflation.


He added that decisions about such measures were solely based on the central bank’s mandate to ensure price stability.
The SNB announced last week it had made a loss in 2009 of SFr26 billion ($27 billion) on its foreign currency positions.
“We have always emphasised that the SNB’s goal is not to make a profit… or even speculate,” Hildebrand said
In a related development the former chief economist of the SNB, Ulrich Kohli, described buying so many euros as a “fiasco”. He told the Friday edition of the Basler Zeitung newspaper that the expected loss of the bank for 2010 of SFr21 billion was of historic proportions and unnecessary.
“That interventions are generally of no use is really nothing new,” he said.
He said the SNB had lost some credibility as a result. “It is wounded, its balance sheet weakened and it hardly has a possibility to do anything [about it].” and agencies

JW n FL's picture

to steal from a nation? year after year.. the Swiss must be very proud.

HelluvaEngineer's picture

And I’m proud to be and American,
where at least I know I’m free.
And I wont forget the men who died,
who gave that right to me.

Ese Pinche's picture

No.. the junkers understand that, sadly, the people who have died for this country (the US) have died for profits... not freedoms.  This country is finally starting to understand this... it is devastating... but its red pill time.

Reptil's picture

It's approaching behaviour expected of three year olds.

Why junk raw information? Not that I care. I'm just surprised.

FeralSerf's picture

The Bushes hated your freedoms too, so they invented the DHS and TSA.

fuu's picture

You are not free, but thanks for pasting those propagandist lyrics.

Hugh G Rection's picture

And I'm proud to be an American,

where at least I know I'm a battery.

And I wont forget the men who died,

to enrich those who enslave me.

pelican's picture

I hate that song.  I heard it a million time while on active duty.  I wouldn't be surprised if it was produced by a propaganda unit.

baby_BLYTHE's picture

Investors are rightfully fearing another World War.

And just like the last time, the Swiss will not get involved in the West's military adventurism. Rightfully so. Great country, great people.

gdogus erectus's picture

Yeah - remember in grade school that we were taught that Hitler didn't invade Switzerland because he honored their "neutrality"?  Yeah, that and the mandatory assault rifle and 1000 rounds of ammo in every citizen's closet.  I think they missed that part in class.

fuu's picture

Why invade when they were giving him the money from the bank accounts of the people being murdered in the ovens?

baby_BLYTHE's picture

no one was murdered in any oven. The bodies were cremated after death.

Gas chambers were never used during WWII contrary to revisionist history.

I have visited Mauthausen in Austria when I was a bit younger. Spoke to several on site historians including a few survivors themselves, no Gas chambers were used in any of the camps

fuu's picture

Care to comment on the expatriation of funds from the bank accounts of the murdered no matter how they were murdered?

baby_BLYTHE's picture

The Swiss treated the Jewish money just like any other despositors including gentile survivors of the work camps.

the late Dr. William Pierce examined this issue at the time and it turned out to just be another case of the Jews screaming foul and gettin pusy to get there way.

We've examined some of these tricks of theirs, and we've explored some of their specific lies about the "Holocaust," but the question remains: Why do they do it? Why do they push the "Holocaust" business so hard?


We know the answer to this question now. We understand that they push the "Holocaust" for two reasons: first, because they make lots and lots of money from it; and second, because it protects them from criticism and enables them to get away with the most outrageous behavior, behavior that would not be tolerated in any other people. They have just collected $250 million in cold, hard cash from the Swiss in blackmail money: money which the Swiss gave to them not because there was the slightest evidence that the Jews were entitled to any of it, but simply to avoid a boycott. Now, the Jews are aiming for $7 billion more from the Swiss the same way.


Anyone else that tried a stunt like that would  wind up in prison for extortion! The Swiss apologize, make good with the despositors money, but just as it always is, it is never enough.

sun tzu's picture

Jesse Jackson and the NAACP get away with it too. 

JW n FL's picture

You are so sweet.. Sweeheart they have to buy Congressmen and Senators and that shit aint cheap! our whores are the most expensive in the World dont chya' know?


Jewish Israel Lobby Dollars


  Lobbying Client(48 results)

Hide All

  PACs(6 results)

Hide All

  Outside Spending Group(2 results)

  527 Cmte(1 result)

  Top Contributor to Member(57 results)

Hide All

  Top Contributor to Candidate(12 results)

Hide All


  Member(1 result)

  Candidate(3 results)

  Personal Finances(1 result)

  Revolving Door(3 results)

  Lobbyist(7 results)

Show All

  PAC Treasurer(3 results)

  Obama Inaugural Donors(2 results)

Categories of People Found

  Lobbying Firm(1 result)

  Lobbying Client(21 results)

Hide All

  PACs(7 results)

Hide All

  Outside Spending Group(3 results)

  Top Contributor to Member(97 results)

Hide All

  Top Contributor to Candidate(6 results)

Hide All


and lets ALL! NOT!! FORGET!!!

FeralSerf's picture

I don't know that it's because they're more expensive than the whores in the rest of the world as much as they're so fucking many of them.

fuu's picture

Here you go:


In the words of the Swiss's own investigation:

"...diplomatic practice increasingly came into line with the ethnic «völkisch» criteria adopted by the Nazi state, an approach which sharply conflicted with the constitutional equality enjoyed by Jews in Switzerland since 1874"

The commission also addressed the issue of the use of slave and forced labor in Swiss-owned firms and concluded: "that the figure quoted in the media – a total of over 11,000 forced labourers and prisoners of war employed in Swiss subsidiary companies throughout the Reich – is likely to be on the low side."

The commission examined the role of the Swiss diplomatic service in protecting Swiss-owned property held in the Reich and concluded that a double standard was applied: whereas international law was strictly applied vis-a-vis Swiss property in the Soviet Union, Swiss authorities, "increasingly favoured the so-called theory of equal treatment, i.e., that if Germany was discriminating against its own Jewish citizens it was hardly possible to legally contest its equally harsh treatment of foreign Jews living in Germany."

Swiss insurance companies had sold policies to Germans for many years. The German government seized policies held by German Jews and cashed them in with the Swiss companies, according to German laws passed by the Nazi government. After the war, the Swiss companies mainly refused to redeem policies held by holocaust victims and their heirs, arguing that the amounts had already been paid out according to German law. However, the commission concluded, "There is equally good reason to believe that not all those who were persecuted registered their policies with the Nazi authorities in accordance with the directives of 1938. It is therefore probable that a considerable number of policies belonging to Jews who remained in Germany were never paid out to those authorities."[



sun tzu's picture

The US Gov is throwing people in prison and demanding the Swiss hand over their bank accounts. did the Swiss have a choice? Hand over a dead person's bank accounts or face invasion. I'm sure you would have opted for the invasion in order to protect the dead person's money.

fuu's picture

Everyone has a choice. Sometimes the right choice is harsh and gets you killed. It is still the correct choice.

Urban Redneck's picture

The US chose to stay out of the war while nation after nation fell to the Nazis.  While Switzerland remained neutral after German attack, the US caved on its neutrality the day after Pearl Harbor.  Something isn't the wrong choice one day and then the right choice the next day. 

Switzerland had chosen neutrality several wars before WW2.  Continued neutrality is actually not an easy choice, especially since the US wasn't offering to supply the food and energy that the nation needed. 

The US also had a choice not to bomb Switzerland (ironically while Dulles and OSS were running intelligence against Germany in Switzerland).  I think you notion of the right choice is a rather subjective. 

Reptil's picture

Eeeeh yes they were. Not all camps but for certain in Auschwitz.

This documentary is fairly accurate, not entirely complete, but a good primer on the subject. (It's not happy happy stuff so if you need a "pick me up" go watch something else.)

If you got any publication that says different, please post? If not, please STFU?



baby_BLYTHE's picture

There are just as many, if not more, documentaries exposing the gas chamber hoax.

You mention Auschwitz, Even the Auschwitz museum director speaks out against the lie

In a dramatic and unprecedented videotaped interview, Dr. Franciszek Piper, senior curator and director of archives of the Auschwitz State Museum admitted on camera that 'Krema 1,' the alleged 'homicidal gas chamber' shown off to hundreds of thousands of tourists every year at the Auschwitz main camp, was, in fact, fabricated after the war by the Soviet Union -apparently on the direct orders of Josef Stalin.
What Piper said - in effect and on camera - was that the explosive 1988 Leuchter Report was correct: no homicidal gassings took place in the buildings designated as 'homicidal gas chambers' at Auschwitz.
Besides "eye witness" testimony, there is no evidence that gas chambers were ever used to execute prisoners.
pazmaker's picture

baby.. you need to realize that your comments on here need to connect...  A while back you posted that you were a young 20 something that was feeling deception and despair and now your a seasoned historian who visited Mauthausen in Austria when you were younger?   How old were you when you visited???   10?

baby_BLYTHE's picture

I don't claim to be any expert. I have been a history buff ever since high school which was when I visited Austria with my school's german club. I was fifteen then, so a little over 5 years ago.

Of course I feel despair, how could anyone not with total economic collapse looming and another World War?


kito's picture

with regards to your nazi era history, i believe you to be more of a history buff..oon

baby_BLYTHE's picture

the Crest White strips must be permeating into your brain causing a disruption of your comprehension ability

JW n FL's picture
by pazmaker
on Tue, 06/28/2011 - 11:11


baby.. you need to realize that your comments on here need to connect...  A while back you posted that you were a young 20 something that was feeling deception and despair and now your a seasoned historian who visited Mauthausen in Austria when you were younger?   How old were you when you visited???   10?


If you can NOT!!! REFUTE!!!! the FACTS!!!!! then attack the person.. how very novel.

falak pema's picture


I met people from AUswitzch who cleaned out the bodies from the gas chambers; they were jewish young workers of the camp, numbered and all who miraculously survived. They saw thousands coming out as corpses from those gas chambers. We talked over it when playing tennis. This was in 1965...I was in university then. I believed them, a man and a woman of polish origin living in London. 

This is NOT an exceptional tale. Thousands who have known these types of people like me would tell it. The only problem is that those who survived don't want to talk about it. Maybe they want to relive their lives, forget the horror, understandable, or else, they feel ashamed to be alive while their family members died...who knows...its their terrible secret. But it was real...

pazmaker's picture

Jw,   I did not attack the person.  If you think that, then you have very thin skin.  I attacked the person's credibility.  There is a difference.  I've seen inconsitencies in baby blythe post...for example he/she started posting asking many questions stating that he she was young naive not very knowledgable.....and now he/she seems to be an expert on everyhting!   So I question the credibility of this person and question if they are who they claim to be.

DosZap's picture

What were they used for?,killing flies.

How were they murdered, so they could just cremate them?

Starved em all?.Sorry, shit doesn't wash..

Would take far too long to starve that many people.

I agree, the gas chambers were not used on the survivors.

Makes sense.

gaoptimize's picture

How old do their children have to be before they get their own?  I'm thinking I can use that argument with the wife to gat another soon.  (keeping up with the Swiss and all).

Confused's picture

They were more valuable as a "neutral" country. He sold them gold for Francs. Which Germany then used to buy things on the world market. Additionally, the Swiss allowed trains to pass through without searching them.

Perhaps someone can correct me if I'm wrong.

sun tzu's picture

You're wrong. The Swiss did not allow any military supplies to pass through their country. What were the Germans buying on the world market? They were blockaded by the Royal Navy. By 1943 the only neutral country they could trade with for was Sweden and Spain. Sweden had some matels that could be used in war. Spain didn't have much. Switzerland was smeared after the war in order to shame them into war reparations. I don't blame the Swiss for what they did during the war. They were a tiny country surrounded by Hitler and Mussolini. Either they do their best to stay neutral or they are crushed by the Nazis. 

DosZap's picture

Yes, thje Swiss elite are so WONDERFUL.

So great in fact that jews had to sue them to get their families stolen wealth back from the banks,, that the nazi's deposited there..........

Great job.The sorry bstds denied it, for a long time..........till they were proven liars.

Urban Redneck's picture

And the Nazi high command was calling the Swiss "Mountain Jews" all through the war.

Then Volker (ironically a German) stirs the "missing gold" pot while trying to get Switzerland off the gold standard.

Switzerland actually has privacy laws, unlike the US.  Again, the US has fucked up its banking and budget, and again the US wants Switzerland to compromise its tradition of privacy.  Just because the US congress erodes the false notions of US privacy at whim, through legislation like HIPPA and the Patriot Act, doesn't mean it is a good idea. 

Vinny's picture

There are still ways to travel through Switzerland on the cheap. Lots of ice and snow will provide you with drinkable water. Then look for some frozen hikers in the mountains: edible source of protein. Just show them what American ingenuity is all about.

JW n FL's picture

or one could be a lil more Roman in their vacation approach and just conquer any and all.. pay as you go or they pay as you go as it where.

Boston's picture

QE2 ends in a couple of days.  USDCHF will turn around soon.