CHF Archive

  • They told people to borrow in Swiss francs for mortgages and did not tell them about Forex risk. They literally gutted the mortgage market so much so that when the Swiss peg broke, it became a political issue in Poland. Mortgages sold by the bankers to the public in Swiss francs have caused massive losses and the courts are, of course, supporting the bankers against the people. This is not a good result politically; we will see the people turn more politically active in Poland.

    2015.75 ECM Turning Point in Poland

    They told people to borrow in Swiss francs for mortgages and did not tell them about Forex risk. They literally gutted the mortgage market so much so that when the Swiss peg broke, it became a political issue in Poland. Mortgages sold by the bankers to the public in Swiss francs have caused massive losses and the courts are, of course, supporting the bankers against the people. This is not a good result politically; we will see the people turn more politically active in Poland.

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