Gruby Phil
Contributor
This morning Swiss central bank decided to free its currency from euro. Suddenly euro and other currencies are plunging against the franc. What it means for many people in my country is irreversible damage.
You see: Few years ago, banks were going crazy in this part of Europe convincing everyone to take mortgages denominated in Swiss francs. Seemed like such a great idea: small interest, so installments were lower than they would be otherwise etc. Everyone rushed to build their own houses on the suburbs and finally get at least some level of comfort that people in Western Europe enjoy. No one seemed to notice that it is all based on debt. They sold their freedom and are now at the mercy of a new master: banks and currency exchange market. Today, all their dreams came crushing down with one decision that someone sitting 5000 miles away has made. For many people, there is no way that they can keep up with paying their installments with prices so high. Unless something changes they will soon be without their homes with half of their paycheck taken over by the bank every month.
I sincerely wish that nothing like that happens but it doesn't look like it. This is what MJ has been talking about. Don't sell your freedom to a bank, don't live the life that you cannot afford. This is sidewalker's lifestyle. You should stay in a driver's seat and do not hand the wheel over to someone else.
I sincerely wish that nothing like that happens but it doesn't look like it. This is what MJ has been talking about. Don't sell your freedom to a bank, don't live the life that you cannot afford. This is sidewalker's lifestyle. You should stay in a driver's seat and do not hand the wheel over to someone else.
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