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1/16/2020 9:48:49 PM
Posted: 1/18/2015 1:10:04 AM EST


The Swiss National Bank (SNB) stunned markets on Thursday, when it scrapped its three-year-old peg of 1.20 Swiss francs per euro.

In a chaotic few minutes after the central bank's announcement, the Swiss franc soared by around 30 percent in value against the euro.

The franc broke past parity against the euro to trade at 0.805 per euro, before trimming those gains to trade 13 percent higher at 1.040.

The currency also gained 25 percent against the U.S. dollar, before falling back to trade around 12 percent higher at 0.901 francs per dollar.
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http://www.cnbc.com/id/102340182


Hedge fund manager Marko Dimitrijevic is closing his largest hedge fund, Everest Capital's Global Fund, having lost almost all its money after the Swiss National Bank (SNB) scrapped its three-year-old cap on the Swiss franc against the euro, Bloomberg news reported on Saturday.

http://www.businessinsider.com/r-large-everest-capital-hedge-fund-closing-after-swiss-franc-losses-bloomberg-2015-1
Link Posted: 1/18/2015 1:39:30 AM EST
How many billions did Soros make?
Link Posted: 1/18/2015 1:51:58 AM EST
Wow. You could have made some sweet sweet cash if you got the inside tip on that.

I'm sure a select few rich assholes laughed their asses off all the way to the bank on this.
Link Posted: 1/18/2015 2:14:21 AM EST
You have just described the opening shots of WW3
Link Posted: 1/18/2015 2:42:56 AM EST
Invest your life savings with some guy with a Russian surname running a no-name Hedgefund. What could go wrong?
Link Posted: 1/18/2015 12:39:18 PM EST
Was reading about this the day of. Several rather large companies went bankrupt and/or, suffered severe losses around the world. Almost immediately, the swiss franc went from 1.20 euro per (pegged rate) to .85 euro per.
Link Posted: 1/18/2015 12:40:32 PM EST
In the long run, severing ties to the Euro will benefit the Swiss.
Link Posted: 1/18/2015 12:43:36 PM EST
Link Posted: 1/18/2015 12:49:36 PM EST
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Originally Posted By BGENE:
Moar on the Econ Collpase Blog
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Reads like they see something coming and would rather take the pain now, rather than later.
Link Posted: 1/18/2015 12:50:37 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By 44Regular:
How many billions did Soros make?
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Discussion ForumsJump to Quoted PostQuote History
Originally Posted By 44Regular:
How many billions did Soros make?

Originally Posted By MK262:
Wow. You could have made some sweet sweet cash if you got the inside tip on that.

I'm sure a select few rich assholes laughed their asses off all the way to the bank on this.


No doubt in my mind .

Link Posted: 1/18/2015 12:51:44 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By MK262:
Wow. You could have made some sweet sweet cash if you got the inside tip on that.

I'm sure a select few rich assholes laughed their asses off all the way to the bank on this.
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15% increase in one shot...
Link Posted: 1/18/2015 12:52:24 PM EST
The Dollar is Soaring. What could possibly go wrong?
Link Posted: 1/18/2015 12:55:35 PM EST
OST
Link Posted: 1/18/2015 1:00:26 PM EST
[Last Edit: 1/18/2015 1:02:01 PM EST by ultramagbrion]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By BGENE:
Moar on the Econ Collpase Blog
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I get a splittin fracking migraine just half-browsing those TEOTWAWKI websites . . . they're a dime a dozen these past few years .

As soon as I see side bars of ads for water purification straws or MRE's , my stomach just turns. Their credibility (admittedly unjustifiably, I know) just swirls down the drain .....as quickly as fat loss drugs and penis enlargement gimmicks get pushed to spam folders automatically .

I'd rather read The Economist or something like that, any more
Link Posted: 1/18/2015 1:01:25 PM EST
One of my classmates in grad school is a dual British/Swiss citizen and she exchanged her francs for dollars at the height of this surge. She didn't exchange much but scored herself a bunch of extra dollars.
Link Posted: 1/18/2015 1:01:29 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By underdogII:
The Dollar is Soaring. What could possibly go wrong?
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And gas is cheap .....WE'RE SAVED!!! Hail obamma !!
Link Posted: 1/18/2015 1:12:19 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By MK262:
Wow. You could have made some sweet sweet cash if you got the inside tip on that.

I'm sure a select few rich assholes laughed their asses off all the way to the bank on this.
View Quote


It looks to me like they kept is secret well. When there are leaks there are usually big moves
24-48 hours ahead. When the good US GDP numbers came out a few weeks ago there
was a big upward move in the stock market about 24 hours ahead of the public release.

It looks like everyone got caught flat-footed on this one.
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