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Swiss Franc

Community Veteran
Posts: 7,910
Thanks: 591
Fixes: 8
Registered: 02-08-2007

Swiss Franc

Seems the Swiss Franc is increasing in value.
I Know they make clocks, have some great mountains and are home to a number of Private banks but other than that they have no major industry.
They are in the middle of the EU but not members so what's their secret ?
Could it be they mind their own business and not poke their noses into other countries affairs ?
10 REPLIES
nadger
Rising Star
Posts: 4,498
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Registered: 13-04-2007

Re: Swiss Franc

It's been known for years that their banks hold vast amounts that will never be reclaimed.
Community Veteran
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Registered: 06-11-2007

Re: Swiss Franc

The answer lies in the following.......
How much does it cost the swiss to maintain their army, navy and airforce..... while carrying out their "obligations"  (  Roll eyes ) in forren countries
How much does it cost the swiss to maintain their government departments?
and how much tax and "other contributions" do the swiss people pay as a percentage of their income? (include VAT, petrol tax, cigarette tax, wine & spirit tax, old age pension tax(es) health tax, (presription payments) National Insurance contribs, to name but a few of the taxes we pay to maintain ours....
nadger
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Registered: 13-04-2007

Re: Swiss Franc

itsme
Grafter
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Registered: 07-04-2007

Re: Swiss Franc

In 1977 I was hitch-hiking in Switzerland and was picked up by a army vehicle the driver had been deferring his compulsory service as he had been travelling and working around the world. Every year he was fined/charge an increasing amount of money to defer so he returned to get it out of the way. He put me up at his parents house for the night and it was a bit unsettling to see a machine gun being used to prop the door open. While doing their service they take their guns home!! Also he informed that they can arm the population in a very short time.  

Edit: Read more fully Nadger's link
Quote
The structure of the Swiss militia system stipulates that the soldiers keep their own personal equipment, including all personal weapons, at home.

randpwar
Grafter
Posts: 1,308
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Registered: 01-08-2007

Re: Swiss Franc

Think they've just lived off the back of Federer's earnings haven't they?  Wink
itsme
Grafter
Posts: 5,924
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Registered: 07-04-2007

Re: Swiss Franc

Exchange rate of 1.24 is going to make my ski holiday expensive this Christmas and will not be buying duty free cigars at the airport. Shame I have no got more Swiss Francs left over from last year  Cry
Community Veteran
Posts: 13,920
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Registered: 01-08-2007

Re: Swiss Franc

While I don't know much about the country myself I know someone who does and says its an incredible country, functional and they do things properly.
I need a new signature... i'm bored of the old one!
Community Veteran
Posts: 7,910
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Registered: 02-08-2007

Re: Swiss Franc

Seems we could learn a lot from them .
Community Veteran
Posts: 5,316
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Registered: 21-03-2011

Re: Swiss Franc

The Swiss Franc is seen as a safe currency buy people with loads of money. It's value remains the same while other major currencies devalue around it. There is an awful lot of money and gold banked in the vaults in Switzerland. Some of it is physical a lot is electronic. If you go to Geneva or Zurich you often walk above bank vaults buried deep below the pavements. Until recently its was also hidden from the tax authorities of your country. They take their secrecy very seriously. If you do any work in a Private Bank in Switzerland you have to sign documents which tie you into Swiss Banking laws. Break those laws and you will go to prison for a long time.
I've just checked on physical gold. It now costs 14% more than it did in mid April 2011. Its value is unchanged but the price in sterling/dollars has increased.
Watch out for the impact on imported goods such as fuel and food prices, they are bound to rise. If you are intending to buy white goods like PC's or components it might be worth making that move sooner rather than later.
Now Zen, but a +Net residue.
nadger
Rising Star
Posts: 4,498
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Registered: 13-04-2007

Re: Swiss Franc

Back in 1979 we stayed in Geneva with a friend who was on loan to UN from civil service. As food prices were high people used to go across border to shop in France.
First stayed in Lucerne on our honeymoon in 1965  Smiley