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thorburn

10,404 Posts.

18/01/15

14:42

Post #: 14600949
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Originally posted by gse1963 ↑

Ok this is one scenario I hadn't considered as some Europeans appear to get their loans in Switz/chf so according to this guy ,on another forum ,there will be substantial losses which will take many months to unfold .
Hopefully not to many Aussies are still taking on Overseas loans ? From memory many got wacked in the ANZ ? debacle years ago with many farmers in the mix .
cheers g

Join Date
Jan 2014
Location
Norway
Posts
84
That is a very good question.

I believe that there is something to learn from this.
After Alpari shut down yesterday I was suddenly "unemployed" due to frozen funds.
I lost nothing to any trades under the event, but I can't at the moment get to my funds and withdraw/transfer them to another broker and trade again in the nearest future.

I read in the paper here (Norway) yesterday that 12-1300 clients from one small local bank alone had their mortgages in CHF and that they stand a loss for over 100 million USD and now may loose their home. That is ONE local bank. How do you think the chainreaction over the world will turn out?
Many wealthy people literally hit rock bottom and are left with dept.. Even I who actually lost nothing but my broker didn't sleep well last night.

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I believe Westpac did the hard sell for foreign loans in the '80s and ended up being filleted in the courts.
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