tag:blogger.com,1999:blog-5695813850715269190.post2607276676382192410..comments2024-02-12T13:31:38.266+01:00Comments on Politics, Economy, Society: Swiss Franc going bonkersstudent SGHhttp://www.blogger.com/profile/01367244307612092688noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5695813850715269190.post-77032553018753629432015-01-25T19:15:34.209+01:002015-01-25T19:15:34.209+01:00Thank you Basia!
Those people were thinking they w...Thank you Basia!<br />Those people were thinking they would outwit the system. Having run a blog for almost six year, I have the comfort of referring you to another post, <a href="http://student-sgh.blogspot.com/2012/12/enraged.html" rel="nofollow">Enraged, dated 9 December 2012</a> which might give the answer. If we can afford little we save on quality and accept lousy deals to get what we want. Besides, in 2006 pessimism was scarce in Poland. Imagine an equity analyst saying in early 2007 stock prices will soon decline by 50%. Everyone would laugh them off!student SGHhttps://www.blogger.com/profile/01367244307612092688noreply@blogger.comtag:blogger.com,1999:blog-5695813850715269190.post-75240429944222648502015-01-25T17:05:28.044+01:002015-01-25T17:05:28.044+01:00Thanks for the detailed explanation Bartek. Since ...Thanks for the detailed explanation Bartek. Since the events of January 15, I have been watching the story develop in the press. The fact that more than 550,000 families have CHF denominated mortgages boggles the mind.<br />The Canadian dollar is essentially a petro-currency...its fortunes generally rise and fall with the price of oil. The CAD is currently at a 6-year low against the U.S. dollar and will likely stay at depressed levels until the oil price rebounds.<br />The CAD is a volatile currency...I have seen it dip as low as 0.65 cents and increase to $1.15 in my adult life.<br />The notion of introducing currency risk into an individual's largest debt (mortgage) is simply madness for me....particularly against the CHF (Europe's strongest currency). Yes, I understand there was an attractive interest rate differential (against PL denominated mortgages), but what were these people thinking? One of these "people" is a family member in PL. It is difficult to be sympathetic with his undertaking such a short-sighted and risk laden strategy, but I'm trying.<br />Best,<br />BasiaAnonymousnoreply@blogger.com