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Interesting story, I didn't know that Austrians were advised to get loans in CHF. In hindsight and particularly in 2024, it looks obvious it was not a good idea. But indeed how could an uninformed person (or misinformed to use propaganda terms) have known?
I still advise to buy gold if I talk with someone uncomfortable with technology, and I would rather look at prices in terms of gold. But in terms of possibilities, I deeply think Bitcoin gives us the best way to be the pessimistic and not the optimistic jew who will go to Auschwitz and unable to choose because too much is at stake to move. In terms of freedom of movement Bitcoin wins hands down.
I am always thinking this in particular when I am filling in a form in an airplane or airport to notify how much gold I am bringing in the country. With Bitcoin I can lie at will and go to airports with peace of mind. Same for capital control, we are not anymore terrorists and child rapists, we are anyone who just want to send money.
Yea, very popular because interest rates and thus monthly payments were substantially cheaper back then bc SNB tried to manipulate the upward pressure of the Suisse Franc to boost exports to the Euro Zone. SNB basically pegged the exchange rate at 1.20 for some time until it finally broke in Jan 2014.
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I didn't know, I thought the peg broke more recently, and I didn't know it was because of the SNB either. I checked the exchange rate chart just out of curiosity and I see that it was not in Jan 2014 but in Jan 2015, from 1.2 to 1.0 EUR/CHF.
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Could be 2015 as well. Initially it dropped in seconds from 1.20 to 0.85 and rebounced afterwards.
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