The Man In The Arena

I dont like news with such a negative cliffhanger..
i think that’s todays mainproblem: negative press.
you can’t compare iceland to switzerland:
as everybody, we don’t know what’s going on and don’t know where that leads to…BUT:
if there will be that worst case, the swiss government won’t let a swissbank die, they have enough ressources, also the swiss national bank (snb). instead of bank2bank lending, the swissbanks have a big pool of money supplied by the snb – so the liquidity is more or less warranted.
every deal or credit a swiss bank makes is secured or there is a deposit.
in iceland, lots of deals are based on credits with no security in mind.
iceland’s economy had a much stronger growth and we still don’t know if there was also some russian mafia money involved (why did they pump now so much money into islands banks?) -> they always had extreme high rates for fixed deposites..

i think the only problem in switzerland is the bad media coverage. we have lots of people taking their money from big swiss banks to local/smaller swiss banks. and that’s bad for the balance.

swiss’ buy what they can afford, not more, not less
just my 50 cents – as a non trader and not direct involved in that business…