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  • SNB Chairman, Philipp Hildebrand, resigns with immediate effect

    From snb.ch Story is in PDF Format

    Effective immediately, Philipp Hildebrand is resigning from his office as Chairman of the Governing Board of the Swiss National Bank. He will make a statement on his decision at 3.15 pm in the conference room of the Federal Parliament’s Media Centre, Bundesgasse 8, and will also make a number of documents available.

what...
Chaos !!!! Get out of any positions
  •  Guest
  • | IP XX.XXX.180.104
did you guys see the chf moving.... lost my eur/chf trade :-(
How it may efferct EUR/CHF?

Positive/Negative?
Fuck the swiss media, Tagesschau, Parliament, Wanna Be Experts.
What a shame, this was a Star among the National Bankers.
ROFL
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Respect. At least one of our top naughty boys who knows when its time to quit.
he was caught with pants down....1200 pips move in EUR/CHF cost me ...150 pips lost ...
There is always a price for promises you don't keep!
its not good for chf
one top ranking insider trader down, thousands to go
since this sucker is out of the way....EUR/CHF's line of defense 1.2000...is no more....time to SHORT.... EUR/CHF is back in business...no more pussy-catting
There is always a price for promises you don't keep!
poor wife won't get any more top quality signals
EUR/CHF made more pips than USD/CHF
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Quoting chazzle
poor wife won't get any more top quality signals
chazzle,

a signal from husband is "match made in heaven"....you can't lose on that....
There is always a price for promises you don't keep!
definitely not good ...
Quoting DragonFire
since this sucker is out of the way....EUR/CHF's line of defense 1.2000...is no more....time to SHORT.... EUR/CHF is back in business...no more pussy-catting
ha ha ha
he will go into history book as the man who sold his soul...just for the LOVE of MONEY....
There is always a price for promises you don't keep!
  •  Guest
  • | IP XX.XX.91.6
Quoting DragonFire
since this sucker is out of the way....EUR/CHF's line of defense 1.2000...is no more....time to SHORT.... EUR/CHF is back in business...no more pussy-catting
Quoting DragonFire
since this sucker is out of the way....EUR/CHF's line of defense 1.2000...is no more....time to SHORT.... EUR/CHF is back in business...no more pussy-catting
the only suckers are bears like u of chf & yen pairs...how lovely to know u lost money
if u believe that Hildebrand resign would remove 1.20 floor then u r living in an illusion world
This is SNB decision not chairman decision
keep on selling win small to loose Big at a single moment of Intervention & bulls would keep winning the war keeping for u the remaining parts of the battle..hahaha
Full Respect to Philipp Hildebrand, at least he have dignity & courage, opposite of many other chairmans as the clown Bernanke happy with his nice beard
  •  Guest
  • | IP XX.XXX.136.22
actually it can be either good or bad
-new chairman can remove the 1.20 peg so 1.00 can be the target again
-new chairman can move the peg to 1.30 or even 1.40... or keep 1.20 and introduce other steps to weaken the chf
-or things can remain the same
i'm sure it wasn't only Hildebrand's decision within snb to establish the peg, so i remain optimistic, here we go 1.30
uh......you guys are all making far too much out of far too little. CHF has moved about 25 pips in the first 30 mins. after this was announced.
  •  Guest
  • | IP XXX.XXX.8.10
short?? with him gone more intervention is on the way.. LONG!
I wait to next notice where is that floor, now it's 1.2 and I'm looking/waiting possibility to buy. 1.3 is my target after 1.25 so I take my time and wait
  •  Guest
  • | IP XXX.XX.22.118
time for another coat of paint on this pig, I mean peg
Guys, guys, guys ... the speech/intervention is already cancelled -> so stop the fuzz !!!
so lets wait and see........any thing can happen next floor up or floor down lets see
Anything that's bad for the Swiss should, in theory, cause the EUR CHF to rise.

After all the hoo-ha has settled down, this is what should happen.

I say should, as anything seems to be possible in the crazy world of the EUR CHF just now.

As for the 1.20 floor, I would be totally gobsmacked if the SNB were to deviate from this policy, which they have so fiercely stated that they will defend, in the national interest. Lets face it Switzerland was falling apart a few months ago due to the 'highly over-valued' franc. If you were the new chairperson of the SNB would you want to risk going back to that ?

Such a policy (the 1.20 floor) is good for the Swiss economy and nation, and is unlikely to be abandoned due to a change of chairman! And his departure should in no way affect it.

If they were to abandon this almost 'national defence' policy it would make them look like complete bumbling idiots, blown around by the wind, and setting vital international policy on the whim of a particular minor event in time.
Quoting Guest
the only suckers are bears like u of chf & yen pairs...how lovely to know u lost money
if u believe that Hildebrand resign would remove 1.20 floor then u r living in an illusion world
This is SNB decision not chairman decision
keep on selling win small to loose Big at a single moment of Intervention & bulls would keep winning the war keeping for u the remaining parts of the battle..hahaha
Full Respect to Philipp Hildebrand, at least he have dignity & courage, opposite of many other chairmans as the clown Bernanke happy with his nice...
Dr. BB didn't ask the wife to trade on the "coming market manipulation news"; it only happened in SNB.....all central bankers are morons but to steal at least he and the wife should be clever thieves....he and wife behaved like a thief who broke into somebody's house drank all the liquid in the fridge and got passed-out in the room until owners came and called police to arrest him......
There is always a price for promises you don't keep!
Quoting DragonFire
Dr. BB didn't ask the wife to trade on the "coming market manipulation news"; it only happened in SNB.....all central bankers are morons but to steal at least he and the wife should be clever thieves....he and wife behaved like a thief who broke into somebody's house drank all the liquid in the fridge and got passed-out in the room until owners came and called police to arrest him......
Although I fully agree with your argumentation regarding Bernie, I must say that SNB's Hildi with wife were more like burglars thinking the burglar alarm is still off. Well, someone switched it on for a sec -- but it's off again for the (other) pals. Seems to me like he stepped on someone's toes.

He and his wife didn't behave much different from US Congress members (they do it legally!!!), other Central Bank officials around the world, high ranking government employees with market sensitive info or decisions in their hands, etc.

As I said, one crook down, still an army to go.
  •  Guest
  • | IP XX.XX.91.6
some of u do not know the real story and start of offending officials with no proves
Hildebrand would speak some minutes from now and prove he have nothing to do with his wife trades. Besides, what was his wife trade amount but just 50000$ and still holding on positions
if there was any real stealing any fool could had went for millions instead of thousands
she could had known in anyway, not necessary he told her and many officials in BOJ & SNB could had gain money in a way or another from past intervention but the difference is that it did not come out to the media
so wake up and know the real story before throwing offending words
Anyway, It might be best bonus to happen now by hildebrand resigning because this might boost Euro/Chf upward with mixed view of new chairman raising the floor while lowering the floor from 1.20 is not an option because even a fool would know that SNB is who had took the 1.20 floor decision not Hildebrand
Besides, most Chf news data from long months till now are coming out as bad to more bad
So Up means Buy Buy Buy
His wife might have entered short order by 2 or 3 before...
  •  Guest
  • | IP XX.XXX.37.162
now...the BIG Question for 2012: will eur/chf break 1.2 support?
  •  Guest
  • | IP XX.XX.150.107
last statement SNB stated 1.2 floor will be kept till march!! now will it remove that floor???
  •  Guest
  • | IP XX.XXX.37.162
i enter aud/chf short... stoploss 0.9825, TP: 0.955, i think it's quite logical...
Quoting battlebutt
Although I fully agree with your argumentation regarding Bernie, I must say that SNB's Hildi with wife were more like burglars thinking the burglar alarm is still off. Well, someone switched it on for a sec -- but it's off again for the (other) pals. Seems to me like he stepped on someone's toes.

He and his wife didn't behave much different from US Congress members (they do it legally!!!), other Central Bank officials around the world, high ranking government employees with market sensitive info or decisions in their hands, etc.

As I said,...
battlebutt,

what can I say? it is like a poker game...small players have all their card open..while central bankers close theirs...prey on unsuspecting..
There is always a price for promises you don't keep!
Quoting Guest
i enter aud/chf short... stoploss 0.9825, TP: 0.955, i think it's quite logical...
wtf! who trades aussi vs swissie ? can u pay the commission at all ?!??!
You heard it here first .....

The Governing Board of the Swiss National Bank (SNB) has taken note of the resignation of its Chairman. It regrets this decision and the circumstances that gave rise to it.
The SNB’s current monetary policy with a minimum exchange rate of CHF 1.20 against the euro remains unchanged. This policy will be pursued further with the utmost determination.
  •  Guest
  • | IP XX.XX.150.107
EUR/CHF ? going UP or going Down ? i have hanging position, it will cover 1.20 but further down i don't think so? please advise
now an intervention is quite a possibility.
they will lanch new roumors. 1.23, maybe even 1.24 this week.
Quoting Guest
some of u do not know the real story and start of offending officials with no proves
Hildebrand would speak some minutes from now and prove he have nothing to do with his wife trades. Besides, what was his wife trade amount but just 50000$ and still holding on positions
if there was any real stealing any fool could had went for millions instead of thousands
she could had known in anyway, not necessary he told her and many officials in BOJ & SNB could had gain money in a way or another from past intervention but the difference is that it did...
For crying out loud -- the wife of SNB's chief is playing with CHF on the forex market!!!!! If a Central Banker's spouse or family member has the stomach to trade forex in the first place, then it should be at least common decency to refrain from trading the domestic currency! I am sure Hildis wife is aware of the vast number of different non-CHF currency pairs on the market. This is grossly immoral and illegal in non-rigged countries!

As for the amount -- come on, wake up. I myself have several live FX accounts, without being an inside trader in the first place. You must give Hildi credit for not being so stupid to trade from one swiss account only, and being offshore-blind.

And regarding others doing the same and not being caught -- well, as far as I know this has never been a viable defense.

Try to pull a similar stunt on the NYSE for example as a CEO family member, and you get jailed for insider trading!
Wifey tried to be too smart and ended up being stupid. Too bad for Phillipp. He was a good chief.
  •  Guest
  • | IP XX.XXX.37.162
just a wild guess hedgein...also technically i'm looking also at daily rsi... it's above 70 and going down...
Quoting DragonFire
battlebutt,

what can I say? it is like a poker game...small players have all their card open..while central bankers close theirs...prey on unsuspecting..
Exactly, and above that they deal the cards. It saddens me how many fellow honest and hard working retail traders don't get the fact that these crooks literally steal from us by cheating, so maybe your excellent poker analogy helps to enlighten.
lol chf barely moved whats thhe hassle peeps?
Have I got something on my face, SOLDIER?
  •  Guest
  • | IP XX.XXX.156.241
Quoting Guest
some of u do not know the real story and start of offending officials with no proves
Hildebrand would speak some minutes from now and prove he have nothing to do with his wife trades. Besides, what was his wife trade amount but just 50000$ and still holding on positions
if there was any real stealing any fool could had went for millions instead of thousands
she could had known in anyway, not necessary he told her and many officials in BOJ & SNB could had gain money in a way or another from past intervention but the difference is that it did...
Wouldn't going for "millions" make it even more obvious? Obviously she was aiming to do this for a long time, just profiting by a small amount each time. 74,000 francs of profit each time isn't small if you add it up over a long period of time. That was her intention.
Quoting battlebutt
For crying out loud -- the wife of SNB's chief is playing with CHF on the forex market!!!!! If a Central Banker's spouse or family member has the stomach to trade forex in the first place, then it should be at least common decency to refrain from trading the domestic currency! I am sure Hildis wife is aware of the vast number of different non-CHF currency pairs on the market. This is grossly immoral and illegal in non-rigged countries!

As for the amount -- come on, wake up. I myself have several live FX accounts, without being an inside trader...
Right on, every point.
  •  Guest
  • | IP XX.XX.91.6
hehehe
Quoting Goat
Right on, every point.
hehehe, if swiss law had a single point against her, she could had been in jail by now
stop ur fantasies go ask ECB about throwing money into eurozone debt countries or bernanke life long policy of printing money, and his country is in trillions of dollars debt, is this a great example to walk by financially!!hehehe
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  •  Guest
  • | IP X.XXX.25.27
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  • Posted: Jan 9, 2012 8:28am
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 46  /  Views: 8,833