Swiss francs a good hedge against the US dollar?

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Dalevan's picture
Dalevan
Status: Member (Offline)
Joined: Dec 16 2009
Posts: 13
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.

JAG's picture
JAG
Status: Diamond Member (Offline)
Joined: Oct 26 2008
Posts: 2492
Re: Swiss francs a good hedge against the US dollar?

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!Laughing

 

Dalevan's picture
Dalevan
Status: Member (Offline)
Joined: Dec 16 2009
Posts: 13
Re: Swiss francs a good hedge against the US dollar?

Thanks JAG. 

txgirl69's picture
txgirl69
Status: Bronze Member (Offline)
Joined: Apr 21 2009
Posts: 96
Franc devaluation

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.

SPAM_william906's picture
SPAM_william906
Status: Member (Offline)
Joined: Aug 3 2011
Posts: 1
The BNS press release about the franc devaluation

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.

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