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He made one interesting point, which is to invest in Swiss Francs. I have been contemplating doing that over the past weeks, what are your opinions on that?
by terhechte 15y ago
He made one interesting point, which is to invest in Swiss Francs. I have been contemplating doing that over the past weeks, what are your opinions on that?
- econgeeker 15y agoSwitzerland still has a conservative financial system, and may benefit from a "flight to safety" as the euro deteriorates. That might be his reason for buying francs. Francs used to be backed by gold, and might still be partially backed by gold. I think they are not redeemable in gold anymore, but that the country keeps a large supply of gold onhand. So, sort of a partial fiat currency. However, one can own gold directly, which provides a hedge against all currency risk. It sounds like this is what he is doing, and then also holding some francs against a panic in europe.