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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 903
Posted: Feb 22, 2010 5:00
Comments: 903
Forum Topic:
CHF
Discuss CHF
yes that is well known in terms of "emerging" eastern Europe but what is under the rug is
mortgages by russian construction Oligarchs, namely those who are very close to Putin,
There is a 100% mortagage financed construction boom in every larger russian boomtown...
a big bomb if commodities go bust. None is in rubles, most are in CHF. They do NOT unwind they just default.
http://www.businessinsider.com/swiss-franc-mortgages-eastern-europe-2010-9
just got back from Las Vegas futures and forex expo. I don't know how it goes in rest of the world, but they are smaller and smaller in Vegas.
b.
Ashraf, although not present at Vegas expo, enjoys great reputation among presenters & visitors
as said CHF is the only not commodity backed safe haven... just ask a Russian Oligarch!
nothing comes out of SNB