The first year I bought a home was the same year I bought a swiss franc. I did this for the same reason I did in my other purchases of that holiday time, I just needed to buy enough. The swiss franc was the same year I bought my first car, a 1990 Honda Accord. I would have bought a car like the Accord, except I wanted a swiss franc.
At the beginning of the new decade, a lot of people were buying cars like the Accord and buying cars like the Accord with the idea that they could afford a car like that. But the truth is, the cost of having a car like the Accord is about equal to the cost of buying a house.
This is because the cost of buying a house is higher for many people. When you buy a house, you have to pay rent on it. When you buy a car like the Accord, you don’t own the car itself, you only pay for the cost of the car, and that cost is determined by the number of miles you drive, not the price of the car.
Switzerland, unfortunately, has a similar situation. Their franc is more expensive than the rest of the EU (and US) because they have more people who can afford to be in the country. This is why the Swiss franc is more than double the price of the rest of the EU.
The same logic behind the Swiss franc is at play here. A house with a nice pool, a pool house, a tennis court, a tennis court, a basketball court, a basketball court, a tennis court with a court house, a basketball court with a court house, and a basketball court with a court house? All of those things have to be paid for, at least in theory.
The only thing that is not paid for is a swimming pool in the summer and a tennis court in the winter. The other reason is that the Swiss franc is the only currency in the EU with a market cap of over 500 billion (about $500 billion). But if you can make a deposit in your bank account in the US the next day, you can withdraw it and buy anything you want with that amount.
This is true, and probably even more true of all European currencies. You can make a deposit in your bank account in the US and get a loan in the US, and even if it’s a measly $200,000, you can get a mortgage and buy a house or condo in the US. The only time you need the Swiss franc is when you need to buy something in the US.
The Swiss franc is just one example. Every currency is designed to be the easiest to use and most flexible so that you can use it wherever you want. This is especially true of US dollars.
The Swiss franc makes it easy to move money around the world with the use of its national bank. If you’re a US citizen living abroad you can move money to the Swiss franc and then exchange it into dollars, euros, or other currencies. If you are not a US citizen living abroad you can use a local bank that accepts Swiss francs.
If you are a Swiss citizen living abroad, you can use your bank to conduct business in any of the other currencies. If you are not a Swiss citizen living abroad, you can still use your bank to conduct business in any of the other currencies.
