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Don't go to Switzerland
| January 21st, 2015 at 11:59:38 AM permalink | |
| petroglyph Member since: Aug 3, 2014 Threads: 25 Posts: 6227 | Another country wanting to accept yuan. Could be a big week for the franc? http://rt.com/business/224759-china-switzerland-offshore-deal/ I realize correlation is not causation, but? The Swiss bankers are wise in the ways of money since well before the world wars. What would you rather be aligned with, the Euro or the Yuan? It's just business. The last official act of any government is to loot the treasury. GW |
| January 21st, 2015 at 2:53:30 PM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
An interesting idea. As we discussed there are over a trillion dollars in Benjamins circulating (10 billion units), possibly 75% of which is circulating overseas. Switzerland is circulating 36 billion francs in 1000 franc notes (36 million units). The 1000 franc banknote is worth 1000 euros now, or $1150 . Presumably large numbers of those banknotes are circulating in Europe. What is the potential if Swiss banknotes begin circulating in China? The largest banknote of the yuan ¥100 =13.9 swiss francs = $16.28 . So a 1000 CHF note would be worth ¥7,190 . Perfect for money laundering. |
| January 21st, 2015 at 3:15:33 PM permalink | |
| Fleastiff Member since: Oct 27, 2012 Threads: 62 Posts: 7831 | Its no longer available for free on PBS so I can't quote it exactly, but one of the last Worricker trilogies had a segment dealing with Dirty Money wherein it was frankly admitted that there is alot of it out there and that as a matter of fact Dirty Money is ALL that is out there, since there is no clean money anymore. Fiction from the PBS writers but it was nice to see some of those actors. |