Swiss francs a good hedge against the US dollar?
I am thinking about opening a Swiss bank account to hold cash in Swiss francs. This is legal and possible for US citizens to do. The Swiss banking system is still considered one of the soundest in the world. Switzerland does not use the Euro. Their monetary and fiscal policies appear to be sound.
Chris and others have recommended Canadian and Australian dollars but not Swiss francs. Is the franc expected to devalue along with the US dollar in a crisis? Why would it do any worse than Canadian our Australian dollars?
Please comment if you have any thoughts on this.
As the world’s reserve currency, if the US dollar goes poof they all go poof. Perhaps a better hedge in this situation would be gold and silver bullion, held outside the financial system.
Please don’t tell anyone that I recommended gold bullion, I have a rep to uphold around here LOL!
You can try to invest in the swiss watches .
I was recently reading that the Swiss Franc is a good hedge, but today I’ve read the Swiss are going to weaken their currency to stop all of this……I can’t remember where I read it.
I was considering it myself. Whatever source I saw that recommended the Swiss Franc also recommended the Norwegian Krone, Singaporean Dollar, buying productive farmland, silver, and the Canadian Dollar – in that order….. I wrote them down on a post it, but I didn’t write the source
I agree with JAG, if (when) the dollar goes down, the world goes with it (us). I’m all about the physical PMs.
Here is the last press release of the Swiss National Bank about this topic. But I don’t know if it will be good to invest in the swiss francs.
I don’t think it’s a good idea to consider the swiss francs now like a good hedge. Moreover there is too many problems now with Ireland, Portugal, Italy, Greece and Spain. All the measure taken by the swiss national bank against the fall of the euro and the dollar make the swiss francs really unstable.
As I said, maybe it’s better to find a hedge in swiss mens watches..