More precisely it should be: “why the world banking system is crumbling down?” The answer is quite obvious.. because banks don’t create anything, nowadays they are mere parasitics entities mostly feeding on people fears, fears that are implemented by the banking system itself.
@@Birthday92sexit’s banking model, which makes this comment just ignorant. Switzerland largest part of it economy is its banking sector. It collapsing is quite literally the model falling apart.
The banking sector makes up less than 10% of the Swiss economy. Yet watching this video gives the impression that the whole Swiss economy revolves around its banks, like the Cayman Islands.
Refuse... 1) CBDC 2) Internet of bodies 3) Digital ID, and 4) Inclusion. 5) Exerices free market 6) 7) Sell ESG stocks 8) W/draw from ESG banks 9) Defund UN, ESG, etc through legislation.
Roughly 10% of the US GDP is from the spending of Federal government, yet if that goes away or severely reduced then the US economy would suffer greatly. Same would apply if the Swiss banking sector goes thru a serious upheaval.
@@HidyoX are you srrly saying that the feds are good for fair industry trade and entrepreneurship? instead of the feds make things unfair and facilitate the creation of monopolies that prey on the population which isnt smart enough to boycott. The feds are these entities proxy
Hello, I have a banking and finance degree in Switzerland. My thesis largely focused on the macroeconomic model of Switzerland. While the banking sector is large in Switzerland, much of the swiss economy focuses on exports. Especially in pharmaceuticals, engineering services, and the like. However, let me give you a rundown of the "failing" swiss economic model. Switzerland has, for a long time, sustained their growth, with their GDP growth rate only falling twice since 2008. However, they have kept unemployment below 5% since 2008, and inflation below 2% until 2020, and has been decreasing since. They have been, quite frankly, a statement of stability. This video largely aims to capitalize on a common stereotype that people associate with Switzerland, which is that they are sneaky, and its where rich people go to hide their money. To the creator, your video, quite frankly, is spreading false information, encourages biases, and should be taken down. To everyone else, this is your reminder to not believe random people on the internet. Please educate yourself from trusted professionals, and economists if you're interested in these concepts.
hard to believe a country like swisse can have higher gdps per capita than the united states and better wages based on their industries. it just feels obnoxious to say their economic model will survive other 200 years without being surpassed and their currency lose tons of value. I men how can a country who sells chocolates and watches makes more and pays better than a country who owns microsoft and cocacola? Most people on minimum wage or even better low wages in switzerlabnd like french say they cant live a decent life there and I bet immigration will end very soon in those countries. Even the commodities they have like the gold they have stashed wont make them grow. We are entering the century where fixed dollar assets will lose most of its value. especially with 75% of the money being digital and central banks talking about digital currencies. Even germany will surpass Suisse for their industrial prowess despite being more than undervalued right now based european union currency.
@@ricardodelacrvz1400 There's a lot more than chocolates and watches. You might want to look into Roche, Nestle and generally the pharma and engineering the country has. And yes, the US has bigger and more influential companies. But the US has 340 mil people and Switzerland has 8.7 mil. Switzerland obviously cannot compete in absolute terms but this changes quickly when you look at things per capita.
The Swiss is a large exporter of Watches, Food, Pharmaceutical Lroducts, Machinery, etc. They also are very good in the Tech sector, Professional Services, Insurance, Engineering, etc. Switzerland also received a lot of tourists relative to the size of its economy. So Switzerland will be just fine.
Their products are made majority abroad, it's like US before it was based but now its all made in abroad for massive production and cheap labor costs. If its made at their own respective country, it wouldn't produced as cheap and saves the company's overheads including labor costs.
@@codelessunlimited7701 Wrong. Many of Swiss products are high value added goods. Pharmaceutical products cannot be easily shifted fo poor countries because poor countries don't have the technology as well as the expertise to produce pharmaceutical products. The same thing for machinery. Why do you think China imports so much machinery from rich countries? Swiss watches are 90% built in Switzerland because Swiss watches are high end products. Nestle biggest factory is still in Vevey, Switzerland. So you have all your facts wrong. Also the Swiss are also very good in the Tech Sector, Insurabce, Professional Services, Engineering, Tourism, etc. These are not jobs that can be transferred to another country. As far as the US is concerned, the problem with the US is they built low quality and low cost cars that can easily be produced elsewhere. Eventhough Germany has high wages, their car company still produced the majority of their cars in Germany which is why they are still the 3rd largest exporter in the world despite their strong currency and high wages. The US also has a ridiculous amount of labor laws & business regulations unlike Germany & Japan or even Switzerland. Why would any business want to invest in an anti business country? If they have the money, it is much better to just invest elsewhere.
@@secrets.295 😊it's so lovely finding Europeans so smug as always, getting mad when your heralded greatness is questioned and doubted, denying, denying. You're just like the Chinese centuries ago, so smug that they stopped listening anything other than their own ways.....or American factory workers who thought they had made it or one American intellectual who flat out claimed history was over and the winner was obvious. So Mr Secrets, it's not a secret (or so I thought) that the Chinese simply focused on what they could do better, a basic principle in economics. Likewise, as time goes and things change, Europeans will lose machinery market to an unpredictable extent, an extent that the collective west is always pushing to rise. It may be a secret for you that both the Chinese and Indians are already capable of space travel. Yes, yes, I know, it's just crap, just copying western superior technology, etc. But Europeans do need to always remind everybody of the greatness of your products, otherwise people abroad realize it's a bunch of rip off and stop buying. As good as your products may be, it's no match for Asian products. I'm sure Mercedes-Benz are more comfortable than Asian cars, but their maintenance is troublesome. A regular Asian car does its job, costs far less in both sale price and maintenance. A Rolex is strictly to show off. So, yeah, Europeans do need to keep customers brainwashed. Else, you're going bankrupt.
Every country has its flaws and problems. However unlike some other European countries, Switzerland does not have to be afraid since they are a very innovative, resourceful and educated country. It's only the bankers that need to be afraid.
Trust me, banks are usually not that popular by swiss people. They act like private companies but can‘t bankrupt like them because they basicly held citizens and companies money hostage. Ask the avarage swiss about the swissair grounding and ubs. Or the UBS rescue in 2008 or Credit Suisse in 2023. Plus with all those controversial stuff… I don‘t think they are worse then most other banks I just don‘t like the banking industry. People who pay out bonus after bonus but when the company fails they don‘t have to feel responsible. It‘s just a giant shitshow.
I’m an expat living in Switzerland and can tell you even if it declines 50% it’ll still be better than every single other European country to live in and the USA
Some economists have projected that parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.
A 2022 Northwestern Mutual study found that 75% of European adults admit their financial planning needs improvement. However, only 29% of Swiss work with a financial advisor.
Very correct; the bear market has contributed significantly to the growth of my investment. I was able to quickly increase my portfolio from $180K to $572K. Essentially, I was just doing as my financial advisor instructed. You're good to go as long as you get competent assistance.
@@andrew.alonzo Would it be okay if I asked you to recommend this specific advisor or company that you used their services? Seems you've figured it all out.
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The Swiss banking sector is much smaller than people believe. It only makes up a small percentage of GDP, even compared with the UK. There are other sectors that generate more wealth for Switzerland: Commodities Trade, Pharmaceuticals, tech industry, etc. You also should not forget that Switzerland simply just has enormous wealth that serves as a stabilizer. Despite the banks going downhill for 15 years, the GDP and private wealth only went up.
@@freeone69 it’s still the world‘s biggest offshore center and UBS still still the world‘s biggest wealth manager with 5 trillion assets under management.
@@tobiwan001 bcuz it had to absorb CS trash too. ubs isnt doing good either. look at ubs share price. when it goes down ch goes down. the national bank doesnt have the capacity to bail it out. from too big to fail to too big to bail. however u look at it this was a massive disaster. i heard that 400 banks went bankrupt since 2010 or so.
@@freeone69 400 in Switzerland? I think the number of banks went down from almost 400 to 250 but not through bankruptcy and they were tiny old private banks. the sector shrank slowly but overall it had no impact on wealth in Switzerland. Incomes went up, debt went down. Swiss banks are wealth managers and therefore there business was and is mainly commissions. By balance sheet Credit Suisse was not a large bank. In fact while SVB was the 16th largest bank in the US, Credit Suisse was only the 17th largest in Europe. From what I have heard and read, UBS - which had been the largest wealth manager before this acquisition - will likely spin off Credit Suisse Bank in Switzerland, shut down investment banking in the US and UK and absorb wealth management in Asia. Whether it’s too big to save is questionable. The SNB balance sheet was up to twice that of Credit Suisse and Switzerland has very little public debt.
@@tobiwan001 cant compare a bank in the US to a CH bank. the outflow of assets from Ch is huge for a small country like this. the impact will be felt for generations. eurozone is no exception. the colonialists are on the defense now. u may not feel it but ur grandkids will. the reputational damage alone is enough. the stats say the opposite of what u describe. the financial sector is in shambles. the exports are doing well for now.
I must always laugh when I check out those videos about Switzerland. They just have no clue about the strengths of this country. Sure, it's better to have a strong banking system and I admit that the size of UBS vs. the Swiss GDP has become worrysome since the taking over of Credit Suisse. Anyway, Switzerland leads the world for the 12th year in a raw according to the Global Innovation Index, far ahead of the US. It's 7th or 8th in the world for many years in new brevets, before large countries such as UK and Italy. In addition, it's a very well managed country with ca. 30% debt ratio to GDP, the lowest of western economies. This year the state budget will be very close to be balanced. The political system is very stable with no such anger from the population as we see in a lot of developed countries. There was no quantative easing after 2007-8 financial crisis. We had some quantitative easing to support businesses during the pandemic, but there was a tightening since and it came back to normal trend, so there is a lot less inflation and inflation pressure than most developed countries. So, there is one major reason to put your money in a bank in Switzerland (however maybe not UBS) : the Swiss franc will continue to raise vs. other main currency. Euro is at a historical low, USD are close to that point and will continue to fall due to their public debt and high inflation. I prefer to have my spared money in Swiss francs. I think I will be long dead before Switzerland collapse called by many youtube amateurs will take place.
Thanks for the information. Really valuable insights. I have a question: Aside from the Swiss Francs, what other currencies you think might last longer or as long as the Swiss Franc?
@@tunisian_stats I'm more of an optimist, especially since summer kicked in my country (I'm a Sun lover). So even if every country is falling apart, for me it means no country is falling apart. We're falling together so we'll solve it together.
Nah, pretty much every country around the globe is falling apart rn, different reasons for each, but we are headed towards a world wide crisis that will last the next couple decades, this doesn't necessarily mean war although there are quite a few war like conflicts but we are reaching the end of just how far fiat money and technology can pave over the underlying societal problems we face.
don't you ever dare to criticize Switzerland, my favorite country :) But honestly, Switzerland is more, than its banking system. The best about Switzerland is its political system and its people. It is a bottom up society, very decentralized and with long standing tradition of independence and autonomy. People can decide many things via referendums, instead of government telling, what to do and how to think.
If Switzerland is so "bottom up", the fact that they didn't allow women's vote until 1971 tells us that it's population is extremely backwards, doesn't it?
@@xyyx1091 Sure, what's wrong with low taxation? The debt ratio to GDP is 30%, this year budget is likely to be breakeven, so we don't spend more than we earn, thus no need to raise our taxes. It's just good and sound management, unlike most developed countries.
@@sandymilne224 I'm not sure to understand what you exactly mean. As I mentioned in my comment, Switzerland, after the covid years during which they have indeed spent more than they earned, for the first times in decades, they are managing to break even this year and positive in the years to come to reimburse the additional debt created during covid. Anyway, with a debt ratio of 30% to GDP and an economy that is groeing slowly but steadily, covid or not covid, there is enough room to sustain a small deficit without having to raise taxes.
Switzerland has been my favorite country since I first visited in 1969. Even as a kid, I knew it was very special. As a person who admires quality, cleanliness, craftsmanship, beauty and class, for the individual who works with their hands there is no place better on Earth! The Swiss people are very smart, educated, elegant and hard working. I began working with Swissair in 1987, and learned how to do things right. Overall, I term Switzerland, "A culture of quality". With that being said, not everything by any measure is perfect. Swissair went out of business in 2003 after 71 years of what many argue was the world's best airline. Why? EU consolidation with the introduction of the Euro into neighboring countries, excessive debt and overreach by its executives to maintain and expand market share. The culture of quality remains but I am seriously concerned what will happen if Europe falls apart due to lack of energy, destabilization, serious harmful influences by the World Economic Forum, the EU and US, which certainly have not helped Switzerland in the least. To me, should Central Bank Digital currencies be forced upon Western Civilization, I believe firmly that freedom will be erased, and all of Western society slowly crumble into chaos. People are not going to allow governments, meant to serve them, force them into virtual, digital slavery!
Yeah I completely agree with you. However, as Switzerland has always been innovative, they are playing with the idea of cryptocurrencies, which have the potential to fight against those CBDC's, and to gain back the model of privacy Switzerland was famous before...
Because globally we are going through technological phases that not a lot of countries are prepared for.. We should be worried if we do not figure out how to adopt AI in governmental structures.
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I see 2-3yrs recession. Fed will raise interests in Sept 2022 if inflation doesn't peak. Inflation is producing a slew of problems throughout the world, including food shortages, diesel and heating fuel shortages, and housing prices and financial market crash. This global collapse might end up being a part of us for a very long time. With inflation currently at about 9%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.
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Okay, I thought this video was about why the Swiss economy was in bad shape. In reality, this video only talks about the banking sector which is not significantly larger than in other countries. It is mainly the export industries (pharmaceutical industry, chemical industry, microtechnology, industrial electricity, industrial technology, watchmaking, etc.) that make money in Switzerland. The most powerful companies in the country are not companies that have relocated to Switzerland for tax purposes but companies that were created by Swiss people from the start (Nestlé, Novartis, Roche, ABB, MSC, etc.) and the success of these industrial companies is not linked to the success of the financial sector. Moreover, Switzerland remains one of the most important commodity trading centres in the world despite the collapse of Credit Suisse, which means that the collapse of the banking sector does not mean the collapse of the financial sector. And in particular, the collapse of the banking sector does not mean the collapse of such a diversified economy
Switzerland has consistently been ranked the most innovative country in the world. It doesn't rely on banking alone. It can survive and continue to thrive on manufacturing chocolates and high-tech machinery, services industry, education and tourism.
@@SMILYSUNFLOWER Pas besoin d’être économiste pour se rendre compte de certaines choses. En Suisse il y a une vraie manie pour le papiers (diplôme) et ce même pour des tafs où il faut aucune qualification spécifique comme les call center…. Les économistes prennent quelques boites brillantes qui sont vraiment innovantes et projettent cette innovation alors sur tout le pays…..
at the end of the day switzerland is just an normal country like any other european country with a good social welfare program, stable living condition and stable economy
That's the banking model, as the vid explained Switzerland also is well industrialized with good transportation infrastructure. But the banking model is dead in the water now, considering the US/EU demand their citizens' banking information (in the future one can imagine China, India, ASEAN, etc demanding as well), and the rest of the world can no longer trust the Swiss with their money now their neutrality is dead- today it's the Russians, but tomorrow it could be the Saudis, Chinese, Indians, Nigerians, Brazilians, etc. getting targeted by the US, and other organizations (drug cartels, terrorist organizations, etc) also naturally won't feel safe there anymore.
@@Thanatar13 Secrecy is not everything. Stability and strong currency are important as well. I prefer to put my savings in Swiss francs, although maybe not at UBS.
Switzerland has a huge amount of exports and a ton of huge companies that provide massive value to the whole world. The banking sector is just one factor for Switzerland's amazing economy. I live here, and trust me, people are well off. People are happy, and the economy is as strong as ever.
Not really, nowadays the financial sector makes less than 10% of GDP, and that includes the massive insurance sector which is massive both domestically and internationally. Plus UBS and CS are well known as they are the international banks, but until their "fusion", they were eclipsed by Raiffeisen, a domestic cooperative banks, and had been losing the domestic market to that and many other domestic banks ever since 2008. Also prior to banking Switzerland's economy has been grounded in high added value industries tied to innovation, of which watchmaking was one of the precursors, along with a globalized textile industry as early as the XVIIIth century.
He literally says if the bank system fails the country has many succesful companies and will continue to be a relatively wealthy country. You didn't watch the video all the way through, did you?
That's old news and already priced in the relative positioning of Switzerland. Yes, some old revenue sources have dried up, but Switzerland has successfully moved on and has remained on top. Most importantly, compared to the problems other western economies face, Switzerland looks relatively well. So money will still migrate towards it in times of crisis. There's no better alternative. Simple as that.
As a spanish citizen born and raise until 7 years in Zürich I can say there is no more miracle than hard work....... Serious and formal people and again hard work.......
@@artman12 sorry but to be the “Switzerland of an area” is not just about geography. It is about the economy and peace within the nation. Uruguay and Oman are nothing like Switzerland in terms of geography, but they are very peaceful compared to their neighbours and both don’t get involved in international affairs much, just like Switzerland. Botswana and Rwanda are similar in that regard. Guinea and Uganda are far from economically successful and aren’t exactly that peaceful, especially compared to some of their neighbours
Our economy is fine thank you. Our economy is not based on banks alone, we have plenty of other things we produce and do. The State banks here are very good and stable. I have my money in one of them. Just because of what happened with Credit Suisse doesn’t mean our country will suddenly fail. There is more to our country than just banks.
I'd say the bigger problem is the economic troubles of Switzerland's neighbors, which will have an effect on Swiss exports, tourism to Switzerland and so on.
What a bunch of croc. Sitzerland has the best universities in all of continental Europe. It is consistantly ranked as the most competitive country in the world, has one of the highest GDPs on the planet, one of the strongest currencies in the world, its currecy continues to strenghen against the dollar (since 1971 over 500%!!), aganst the Euro, the GBP and the Yen. Notice a pattern? Switzerland is the only country on the planet with a true, direct democracy where the people actually have a say in their destiny, has the second highest life expectency on the planet, the highest prodution of patents per capita and produces more than TWICE the patents per capita than the second ranked country Sweden per year. Just think about that for a second. More than TWICE as many patents per capita per year as the number two nation in the world! Patents are one of the key drivers of GDP! You say how unbelievably important banking is to the Swiss "economic model", which effectively demonstrates how little you understand about that country. The whole financial sector in Switzerland is approx 10% of GDP. However, the Swiss include the huge Insurance business in that 10%. If you delve a bit deeper into Swiss economic statistics, you discover that the actual banking industry is only approx. 5% of Swiss GDP. However, in your video, you use that small 5% sliver to predict the future demise of the "Swiss economic model" and its wealth. Big mistake. I have bad news for you: the Swiss economic model is just fine, thank you. Its prospects are fabulous and it still is - and will continue to be - vastly more successful than any EU or OECD country. Most EU and OECD countries (including the US of A) will continue to fall further behind Switzerland over the next decades, while Switzerland will continue to propser and increase the well-being for its citizens. An example of an actually failed state amongst the G7 and in the EU - just for good measure, you ask? Italy has produced a total combined GDP growth from 2005 to 2021 for its citizens of how much?? Yup:. a big, fat ZERO. ZILCH. NOTHING. 16 years of solid failure and stagnation. Loss of wealth. No progress. No future. No economic model to speak of. Just all encompassing, national, economic failure. Now THER'Es a country your titel would actually apply to since decades! Italy's failure also affects way more people as well. Can we expect a video on the massive failed states of the EU and the OECD anytime soon, or is your focus an bogus stories on the "falling apart" of the Swiss economic model just so time and resource consuming? 😂😂 Or perhaps your're being paid for nonsensical, politically manipulating videos to distract from the actual national failures? BTW: How much has Switzerland's GDP grown during that same period as Italy? Yup: 53%. Now suddenly, Italy has had two years of growth. Why? Because it has received 257 BILLION!! Euros in political ransom from the European money printing presses (for not leaving the Euro) to "invest in the green future". Haha. 🤣😂 If you take that princly sum of printed political ransom out of the GDP calculation, Italy still has ZERO growth, while Switzerland consistantly produces actual, real growth and prosperity decade over decade. Are you perhaps starting to get the REAL economic picture, or are you politically just too fixated on the Swiss banking industry myth you're cultivating in you video? 🤣🤣
No doubt, The Swiss people have an insane accuracy reputation and come by it quite honestly - However, what this Vid points out is how it will be disrupting their economy from within. The Banking Industry and its 'product' has a very different effect on things when something catastrophic occurs with them - Their disruption is Your disruption. Period.
Don't forget that some of the biggest Biotech companies are Swiss. GlenCore, although a horrible company is Swiss. Nestle is Swiss. I could go on but I think you get that Switzerland will in no shape or form have any economic Problems. We have almost all of the Biggest watch brands based here too. They all pay Taxes in Switzerland. Although banking makes up a significant amount of our Economy, It wouldn't be too big of a setback if it starts to fail for the economy
What goes under the radar is that swiss military industry is blowing up, they made 3 times more money than last year which compensates some of the banking losses and it benefits somewhat Switzerland's government that CS fell down because UBS' biggest shareholder is the Swiss National Bank and with UBS acquiring CS, the SNB now also controls CS
swiss hase some patent on weapons. even in the early battleship ages there was some oerlikon mk on some US ships. and guns of course. we can ( but should not ) deliever both partys with gear and weapons. like this is allready the case.
The ingenious way in which Switzerland handled the Credit Suisse crisis has increased the confidence of many investors. No comparison with other countries, which tend to act helplessly. It made it possible to carry out a strategically sensible merger that would not have been possible under normal circumstances. UBS will become one of the 10 largest banks in the world. The other banking centres are suffering from indebted states and weak currencies. An investment in Swiss francs brings a return of 10% if only the currency gains are taken into account.
Relocated last year. Just the Value appreciation of CHF alone seems to increase my salary by 10% per year if converted to €. EU is falling apart thats for sure.
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I think there are some mistakes in this video. 1. claim: 1:09 Poor mini regions constantly fighting with each other. response: There was some minor fighting, but overal Switzerland had been a rather peaceful place for around 300 years How to verify: You can look in wikipedia for wars involving Switzerland and there will be barely anything between mid 15 hundreds and Napoleon. 2. claim: 2:08 Banking Secrecy Response: Banking Secrecy was established in 1934, after germany started confiscating jewish property. This can not explain why the Swiss banking sector would have been successful in the 19th century, far before that. How to verify: "Banking in Switzerland" wikipedia 3. claim: 8:22 If the megabank would collapse it would take the entire country along with it response: The financial sector represents 9 to 10% of the Swiss economy, this includes both banks and insurance companies. This new mega bank combining CS and UBS is around half of that. Loosing 5% of the economy is bad, but not taking the entire country down and likely not all the business will vanish, but rather transition to other banks. source: official swiss goverment page title "Banks and insurance companies"
Sometimes it's not the best way to keep your financial in the bank because it's won't grow, keeping funds in the best way is to invest it and see more coming.
You're absolutely right, to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.
@@stellarose-qb6idI agree with you. Investment is the key to sustaining your financial longevity. And not just any investment but an investment with guaranteed return.
yeah investment is the key to sustaining your financial longevity but venturing into any legit investment or business without a proper guidance of an expert can lead to great loss too.
Obviously talking about been successful, I know I am blessed if not I wouldn't have met someone who is as spectacular as Debra Barton@@chrisharrison-ir5wb
I think you overstate the importance of the banks. The entire financial services industry is only about 10% of the economy , and that includes the whole (re)insurance sector. Think about manufacturing - Nestle, ABB etc and all of the drug companies as well as the tech sector etc. I think that the Swiss economy is much better placed to prosper than many others in Europe, such as that of the UK.
I recognize Lausanne with its cathedral and the Leman lac( or Geneva lac) a couple of time Interesting how Lausanne was beautiful before and now turning more and more into a wokness Hell with the Left managing it
If there’s a country that will survive everything it’s Switzerland. Doesn’t get better than a direct democracy and proper economic liberalism. I suggest you read the book “The Swiss Labyrinth” to be correctly informed. IT’S NOT FALLING APART 😂
Yeah, that's not happening. Unless you believe Russia is pulling out of Ukraine in that time, or that Ukraine will push the Russians out of the country, which is quite possible. But even if they do that, things will not go back to the way they were prior to the invasion.
Swiss taxes are an average of 40% - up/down: depending on WHICH canton - State - one lives.... - Zurich = one of the highest // ZUG / SCHWYZ = are the lowest...! = info by a Swiss native... Mad.
If only the rest of the world was as good as Switzerland, I have cycled around the whole country, its beautiful clean high standards and nice friendly people, I have travelled to quite a lot of countries but Switzerland is still my favourite hot summers and snowy winters everything works as it should, an upmarket smaller efficient Germany with Italian flair and French style what's not to love about it, just wish I could afford to live there 🙄
As a Swiss I'm quite greatful for this video telling me that the economy in my country is falling apart. I'd never have found that out by looking at how I, or any of my family and friends working in different places and domains are doing. Also the media is not talking about it, neither leaders in politics, economy or even trade unions... gotta be on the lookout for that crisis.
😂 The Swiss miracle has not much to do with its banking system or neutrality. Rather, it is our love for innovation. Also we enjoy stability thanks to our direct democracy, which you totally failed to even mention. I give your video a 4/10.
There are many reasons indeed and the question is whether it is Banking that made Switzerland or Switzerland that made Banking. I.e. nobody (well to an extent) stopped other countries to offer good banking services. The local mentality played a very important part even in the Banking industry alone. The mentality in turn was formed by the geography etc..etc..etc.
"Why Switzerland's Economic Model Is Falling Apart" is a wrong title for this video. The economic system that made and is still making Switzerland so rich is based on economic freedom, or liberalism. It's obvious that the Swiss banks are clearly in trouble, but the stability and prosperity of this country is far away to be broken up.
Reading the comments here, this situation in CH hasn't been explained well at all or even misrepresented. I learnt more from the comments than the video.
No wonder that Switzerland has become so rich: it made business, while the other countries all around made war; reinvests (cleverly) its profits, instead of spending them on fighting (from which only warmongers really took advantage). The rule of thumb and goal in the dominant socio-economic order being capital accumulation; it is not so astonishing it became prominent as a heaven of peace. Yet, now that the last (and hopefully final) crisis of the capitalism is surging fast; it is not so surprising that the paramount beneficiaries (not solely Switzerland but also even more visibly, Sweden as for European continent) abandon their age old wise approach and join the mortal struggle for the continuation of rather hopeless order which have not only witnessed, but also promoted their ascent and very much wealth.
As Switzerland has a strong banking sector, we know how to diversify risk. This means also in different businessmodels, also innovation wise switzerland ranks always in the top 10. Switzerland knows about the here mentioned risk, but i cleverly finding new ways. I enjoyed your videos, because of the old footage of the places I know very well :)
In the meantime, the US Congress is playing roulette with the US Debt Ceiling and putting the global banking system and world’s economy in jeopardy. Just recognizing the elephant in the room.
This social media gets uglier. To get attention such a headline!! I have been living in Switzerland for years, I have seen many countries. Swiss people did a really good job. Without energy export, they make +10% of their gdp of current account surplus. What are you talking about 😀. They have an incredible solid economy. One banks goes one bank comes who cares it as long as your core engine is strong.
Why does the world allow this small minority of Banksters to control the world's credit supply, award themselves massive bonuses and risk the economy? There must be a better way to run the economy.
Knights Templar founded, in 1291. (NWO "extended bloodliners," vs. the OWO "divine right of kings, and pharaohs...") Rape and pillage capital, of Europe... then the world. (And behind most medieval to modern wars, revolutions, coups, assassinations, etc. Particularly since they established the BI$, in 1930... and the Trojan horsed UN, in 1946... thanks to their Intl. network of knights, (Free)masons and central banks, etc. And now they want a 'global' CBDC? LOLOLOL. So WHERE IS our GOLD... Swi$$ieland??? There's going to be HELL... to PAY... because millions already know enough about... your REAL 'history!' (Swiss Canaanite Pharaohnic bloodliners = Nazim Templars of Octogon. ;-)
Being Swiss I want to clarify that Switzerland is doing well. Switzerland did experience an increase in poverty and a decrease in gdp growth, but that was mainly due to covid. Climate change is also having a destructive impact on the economy of regions famous for winter sports, but Switzerland is absolutely not about to collapse. Furthermore the collapse of Credit Suisse, which was a complete embarrassment, did not by any mean signify the end of Swiss banks. Banks work all around the world, even without secrecy and even without anything special. Swiss banks will surely see a decrease in deposits and therefore revenue, but will not collapse. Credit Swiss was one accident, not an undeniable catastrophe. Furthermore Switzerland has international reach, stability and continuous economic development. What makes Switzerland rich is not just banks. We have the second most varied economy in the world, which means that if someone fragment of the economy fails, we have hundreds more. Switzerland is not doing well mostly due to climate change, not to incompetence (which is still very embarrassing and even though I’m a nobody I want to apologise for the mismanagement, especially to the families that saw turmoil being brought in their lives by the collapse of those morons). Take this message as a sign that climate change will always be a greater problem than any episode of mismanagement
Hi, hem, the banking in Switzerland is now around… 8% of the country's GDP, so not really a concern - on the other side, it's industry is flourishing and _very_ resilient as it is mostly composed of small (mainly familial) companies exporting _a lot_ , they also very often are world leaders in their branch (Swiss quality isn't an empty formula). The education system has been polished in each and every bit to improve it, mixing between apprenticeship and higher education and much more than that, a very well thought gateway between the both of them to easily allow a former apprentice to come back to long studies or, at the opposite, some graduated people to completely change their kind of work, it is one of the most efficient package of the kind in the world. Notably, is is also a country where several companies are running without a CEO and even without the whole top of the pyramid and even the pyramid itself, using a longitudinal organization - this is a very uncommon thing you don't find everywhere. So, this video is an external view (and very old romantic style but still very wrong) cliché, nothing more (disclaimer : I'm French, not Swiss).
Switzerland is #1 in Innovation rankings, before USA and before Singapore. Swiss precise manufacturing and high tech industries are highly competitive. Switzerland is 5th largest investor in the USA, that is huge for a small county, creating jobs in the USA. Banking is just one part of CH. US and many international companies are selecting CH as their European headquarter. Switzerland is yet better today as it ever was, while most western countries around are lagging behind in infrastructure. Swiss people have a sense for the practical things in life and are rather realistic. That brings stability and continuous development in a world of instability. Each year, thousands of new immigrants from EU are coming to work in Switzerland. They like a life with prospects, development and freedom.
What you overlook is that Switzerland's success is based on how the country is governed. It is a confederation which is governed decentralized and where there is fierce competition between the various cantons in relation to how to govern and tax.
There is nothing wrong with Switzerland but I rather get the impression that you are using Switzerland 🇨🇭 flag to promote your skill share product. Nothing is going down in Switzerland except skier ⛷️ on mountain slope.
The Swiss banking sector is not as big as the envious foreigners use to nurture their prejudices about Switzerland. It makes only ca. 12% of Swiss GDP.
12% is the entire financial sector in Switzerland including insurance business. The banking sector is only about 5% of GDP and the majority of this is for domestic banking.
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I don't agree with this video. Banking (without Insurance) is only about 5% of Swiss GDP. While being important, it doesn't make anything fall apart or change any of the other fundamentals.
It has not been that way for centuries… up until mid 1900s Switzerland was the poor house of Europe… huge misconception… ask any old Swiss person about their childhood and they will tell you about hunger and hardship
9:35 The banking sector is not an *extremely important* part of the Swiss economy. This is a common misconception about the Swiss banking industry. It ouly counts for around 10% of the Swiss economy.
Actually, the banking industry only accounts for approx. 5% of the Swiss GDP. The other 5% of "financial products and services ' are in fact the entire, huge insurance products and services, which in their own right are world class as well.
Ok so your argument is that: 1. Swiss banking transparency is a problem (for whom exactly?) and, 2. One bank crashing (among how many that melted down in the rest of the world) is significant how? Considering Switzerland has one of the lowest and controlled levels of inflation, I think they should be looked at as a model to follow. You may want to base your research and analysis beyond grade school level narrative.
Refuse... 1) CBDC 2) Internet of bodies 3) Digital ID, and 4) Inclusion. 5) Exerices free market 6) 7) Sell ESG stocks 8) W/draw from ESG banks 9) Defund UN, ESG, etc through legislation.
Switzerland is stronger day by day, other economies are fallen apart. You have to put the money in a place with a stable currency. The US dollar and the British pound are constantly losing value against the Swiss franc. In 1960, one US dollar cost 4.50, now it is o.90. 1 pound cost 11 CHF Now about 1 CHF. The euro has lost a third of its value since its introduction. The dramatic currency collapse will intensify in a time of galloping inflation in these countries. Without intervention by the Swiss National Bank in favour of these currencies, the dollar and the pound would be at 0.10. There is no alternative to Switzerland for any dutiful investor.
You completely forgot to mention that in the 1990s' the US pressured the Swiss banks to give the names of all bank accounts of Jews who had opened bank accounts in Switzerland before the war in 1939. Many were murdered by Germany and after the war Switzerland stole their money. They also depleted the accounts by huge bank fees. The survivors and relatives who forgot the account numbers were refused cooperation. The relatives were requested to give a Death Certificate even if the relatives were murdered at Auschwitz. Germany did not give out Death Certificates for the 6 million that were murdered. There were also non Jews and even Nazis who had bank accounts in Switzerland which were either not claimed or the relatives couldnot have access to them as they did not have the account numbers. The Swiss banks refused to cooperate. The Swiss banks had to pay about $1 billion in fines.
@@secrets.295 You're so right. It has become so cliché and annoying. And which country is flawless looking at its past? Colonialism, slavery, expropriation and partial extermination of origin populations like indians, etc. The world is so jealous of Switzerland success that they have to spoil it as much as they can, not looking at their own failures.
I agree with many points in your video, UBS being one megabank is not a very good thing but many people stored their money in the cantonal banks and different banks/financial institutions/Broker, also the swiss government is increasingly regulating the bank sector because of credit suisse. In addition the SNB (Swiss National Bank) and the swiss economy is in pretty good shape so they’re providing 259 billions in Liquidity Assistance for credit suisse (which btw is still operating it‘s normal everyday business besides a few exemptions). Unfortunately it will be integrated step by step into UBS which will make it one of the biggest banks worldwide and the combined assets will make it the largest real estate owner in Switzerland. Overall the bank sector is pretty resilient even if a big bank like UBS controls a big chunk of the financial system. PS. Eventhough bank secrecy is no more, banks love paperwork and really try to be a pain in the ass for third parties ;)
This video has many precious informations and stunning pictures.- However, the idea that is spread in this and many videos about the banking system in Switzerland is a myth and does not correspond to truth: the most important industries now are pharma, chemical products, machine Industries, watches, commodities trading etc, while the whole finance sector is less than 10 %, the banks about 5.8 % of GDP. However, the banks still impose a great threat as seen with Credit Suisse in case of default.
the reaI success of SwitzerIand comes from two things mainIy, a highIy stabIe society and a great pace of innovation; both are stiII true and its success is stiII untouched
The fact that Credit Suisse broke down and got saved is a huge reason why the bank accounts of rich people will stay in Switzerland. Credit Suisse got saved in a single weekend in two days. Trust me here, neither North America nor the Eu nor Asia would have been able to pull this off. If this would have happened with something like JP. Morgen in America im saying that we would have an other financial crises right now
Misleading title: It should be "Why Switzerland's *Banking* Model Is Falling Apart"
You're so right!
Facts
What is Switzerland’s economic model?
More precisely it should be: “why the world banking system is crumbling down?” The answer is quite obvious.. because banks don’t create anything, nowadays they are mere parasitics entities mostly feeding on people fears, fears that are implemented by the banking system itself.
@@Birthday92sexit’s banking model, which makes this comment just ignorant. Switzerland largest part of it economy is its banking sector. It collapsing is quite literally the model falling apart.
The banking sector makes up less than 10% of the Swiss economy. Yet watching this video gives the impression that the whole Swiss economy revolves around its banks, like the Cayman Islands.
and banking is declining everywhere. Switzerland should diversify exports and send more to Russia Asia be less deoendant on EU USA
It’s also wrong that Credit Suisse ran out of money they had enough it was just the trust of the customers which wasn’t there anymore
Refuse... 1) CBDC 2) Internet of bodies 3) Digital ID, and 4) Inclusion. 5) Exerices free market 6) 7) Sell ESG stocks 8) W/draw from ESG banks 9) Defund UN, ESG, etc through legislation.
Roughly 10% of the US GDP is from the spending of Federal government, yet if that goes away or severely reduced then the US economy would suffer greatly. Same would apply if the Swiss banking sector goes thru a serious upheaval.
@@HidyoX are you srrly saying that the feds are good for fair industry trade and entrepreneurship? instead of the feds make things unfair and facilitate the creation of monopolies that prey on the population which isnt smart enough to boycott. The feds are these entities proxy
Hello, I have a banking and finance degree in Switzerland. My thesis largely focused on the macroeconomic model of Switzerland. While the banking sector is large in Switzerland, much of the swiss economy focuses on exports. Especially in pharmaceuticals, engineering services, and the like. However, let me give you a rundown of the "failing" swiss economic model. Switzerland has, for a long time, sustained their growth, with their GDP growth rate only falling twice since 2008. However, they have kept unemployment below 5% since 2008, and inflation below 2% until 2020, and has been decreasing since. They have been, quite frankly, a statement of stability. This video largely aims to capitalize on a common stereotype that people associate with Switzerland, which is that they are sneaky, and its where rich people go to hide their money. To the creator, your video, quite frankly, is spreading false information, encourages biases, and should be taken down. To everyone else, this is your reminder to not believe random people on the internet. Please educate yourself from trusted professionals, and economists if you're interested in these concepts.
One of the best comment I ever read on internet.
You talked like a nazi. Name calling without giving any facts
You’re exactly right, this blogger I must say doesn’t really know Switzerland and this person paints the picture negatively!
hard to believe a country like swisse can have higher gdps per capita than the united states and better wages based on their industries. it just feels obnoxious to say their economic model will survive other 200 years without being surpassed and their currency lose tons of value. I men how can a country who sells chocolates and watches makes more and pays better than a country who owns microsoft and cocacola? Most people on minimum wage or even better low wages in switzerlabnd like french say they cant live a decent life there and I bet immigration will end very soon in those countries. Even the commodities they have like the gold they have stashed wont make them grow. We are entering the century where fixed dollar assets will lose most of its value. especially with 75% of the money being digital and central banks talking about digital currencies. Even germany will surpass Suisse for their industrial prowess despite being more than undervalued right now based european union currency.
@@ricardodelacrvz1400 There's a lot more than chocolates and watches. You might want to look into Roche, Nestle and generally the pharma and engineering the country has. And yes, the US has bigger and more influential companies. But the US has 340 mil people and Switzerland has 8.7 mil. Switzerland obviously cannot compete in absolute terms but this changes quickly when you look at things per capita.
The Swiss is a large exporter of Watches, Food, Pharmaceutical Lroducts, Machinery, etc. They also are very good in the Tech sector, Professional Services, Insurance, Engineering, etc. Switzerland also received a lot of tourists relative to the size of its economy. So Switzerland will be just fine.
Global #de-dollarization destroys the purpose of asset management
Their products are made majority abroad, it's like US before it was based but now its all made in abroad for massive production and cheap labor costs. If its made at their own respective country, it wouldn't produced as cheap and saves the company's overheads including labor costs.
@@codelessunlimited7701 Wrong. Many of Swiss products are high value added goods. Pharmaceutical products cannot be easily shifted fo poor countries because poor countries don't have the technology as well as the expertise to produce pharmaceutical products. The same thing for machinery. Why do you think China imports so much machinery from rich countries? Swiss watches are 90% built in Switzerland because Swiss watches are high end products. Nestle biggest factory is still in Vevey, Switzerland. So you have all your facts wrong. Also the Swiss are also very good in the Tech Sector, Insurabce, Professional Services, Engineering, Tourism, etc. These are not jobs that can be transferred to another country.
As far as the US is concerned, the problem with the US is they built low quality and low cost cars that can easily be produced elsewhere. Eventhough Germany has high wages, their car company still produced the majority of their cars in Germany which is why they are still the 3rd largest exporter in the world despite their strong currency and high wages. The US also has a ridiculous amount of labor laws & business regulations unlike Germany & Japan or even Switzerland. Why would any business want to invest in an anti business country? If they have the money, it is much better to just invest elsewhere.
@@YHauz-co But the dollarization destroyed the world economy back in 2008
@@secrets.295 😊it's so lovely finding Europeans so smug as always, getting mad when your heralded greatness is questioned and doubted, denying, denying. You're just like the Chinese centuries ago, so smug that they stopped listening anything other than their own ways.....or American factory workers who thought they had made it or one American intellectual who flat out claimed history was over and the winner was obvious.
So Mr Secrets, it's not a secret (or so I thought) that the Chinese simply focused on what they could do better, a basic principle in economics. Likewise, as time goes and things change, Europeans will lose machinery market to an unpredictable extent, an extent that the collective west is always pushing to rise. It may be a secret for you that both the Chinese and Indians are already capable of space travel. Yes, yes, I know, it's just crap, just copying western superior technology, etc.
But Europeans do need to always remind everybody of the greatness of your products, otherwise people abroad realize it's a bunch of rip off and stop buying. As good as your products may be, it's no match for Asian products. I'm sure Mercedes-Benz are more comfortable than Asian cars, but their maintenance is troublesome. A regular Asian car does its job, costs far less in both sale price and maintenance. A Rolex is strictly to show off.
So, yeah, Europeans do need to keep customers brainwashed. Else, you're going bankrupt.
Every country has its flaws and problems. However unlike some other European countries, Switzerland does not have to be afraid since they are a very innovative, resourceful and educated country. It's only the bankers that need to be afraid.
Trust me, banks are usually not that popular by swiss people.
They act like private companies but can‘t bankrupt like them because they basicly held citizens and companies money hostage.
Ask the avarage swiss about the swissair grounding and ubs.
Or the UBS rescue in 2008 or Credit Suisse in 2023.
Plus with all those controversial stuff…
I don‘t think they are worse then most other banks I just don‘t like the banking industry.
People who pay out bonus after bonus but when the company fails they don‘t have to feel responsible.
It‘s just a giant shitshow.
I think it is very tellin that he never gives any statistics to back his claim.
I’m an expat living in Switzerland and can tell you even if it declines 50% it’ll still be better than every single other European country to live in and the USA
@@MrJustinpb and how’s your country doing?
What if it falls 90% or more?
Some economists have projected that parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.
A 2022 Northwestern Mutual study found that 75% of European adults admit their financial planning needs improvement. However, only 29% of Swiss work with a financial advisor.
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The Swiss banking sector is much smaller than people believe. It only makes up a small percentage of GDP, even compared with the UK. There are other sectors that generate more wealth for Switzerland: Commodities Trade, Pharmaceuticals, tech industry, etc.
You also should not forget that Switzerland simply just has enormous wealth that serves as a stabilizer. Despite the banks going downhill for 15 years, the GDP and private wealth only went up.
now yeah. lol. it once managed 8 percent of world assets. its over.
@@freeone69 it’s still the world‘s biggest offshore center and UBS still still the world‘s biggest wealth manager with 5 trillion assets under management.
@@tobiwan001 bcuz it had to absorb CS trash too. ubs isnt doing good either. look at ubs share price. when it goes down ch goes down. the national bank doesnt have the capacity to bail it out. from too big to fail to too big to bail. however u look at it this was a massive disaster. i heard that 400 banks went bankrupt since 2010 or so.
@@freeone69 400 in Switzerland? I think the number of banks went down from almost 400 to 250 but not through bankruptcy and they were tiny old private banks. the sector shrank slowly but overall it had no impact on wealth in Switzerland. Incomes went up, debt went down.
Swiss banks are wealth managers and therefore there business was and is mainly commissions. By balance sheet Credit Suisse was not a large bank. In fact while SVB was the 16th largest bank in the US, Credit Suisse was only the 17th largest in Europe. From what I have heard and read, UBS - which had been the largest wealth manager before this acquisition - will likely spin off Credit Suisse Bank in Switzerland, shut down investment banking in the US and UK and absorb wealth management in Asia.
Whether it’s too big to save is questionable. The SNB balance sheet was up to twice that of Credit Suisse and Switzerland has very little public debt.
@@tobiwan001 cant compare a bank in the US to a CH bank. the outflow of assets from Ch is huge for a small country like this. the impact will be felt for generations. eurozone is no exception. the colonialists are on the defense now. u may not feel it but ur grandkids will. the reputational damage alone is enough. the stats say the opposite of what u describe. the financial sector is in shambles. the exports are doing well for now.
I must always laugh when I check out those videos about Switzerland. They just have no clue about the strengths of this country. Sure, it's better to have a strong banking system and I admit that the size of UBS vs. the Swiss GDP has become worrysome since the taking over of Credit Suisse.
Anyway, Switzerland leads the world for the 12th year in a raw according to the Global Innovation Index, far ahead of the US. It's 7th or 8th in the world for many years in new brevets, before large countries such as UK and Italy.
In addition, it's a very well managed country with ca. 30% debt ratio to GDP, the lowest of western economies. This year the state budget will be very close to be balanced. The political system is very stable with no such anger from the population as we see in a lot of developed countries. There was no quantative easing after 2007-8 financial crisis. We had some quantitative easing to support businesses during the pandemic, but there was a tightening since and it came back to normal trend, so there is a lot less inflation and inflation pressure than most developed countries.
So, there is one major reason to put your money in a bank in Switzerland (however maybe not UBS) : the Swiss franc will continue to raise vs. other main currency. Euro is at a historical low, USD are close to that point and will continue to fall due to their public debt and high inflation. I prefer to have my spared money in Swiss francs. I think I will be long dead before Switzerland collapse called by many youtube amateurs will take place.
Thanks for the information. Really valuable insights. I have a question:
Aside from the Swiss Francs, what other currencies you think might last longer or as long as the Swiss Franc?
Just wondering.
I've watched a couple of your videos and I'm curious: is there a country that isn't falling apart (or hadn't fallen apart)?
this is CIA channel
Yeah Fr every country for him is falling apart 💀
@@tunisian_stats I'm more of an optimist, especially since summer kicked in my country (I'm a Sun lover). So even if every country is falling apart, for me it means no country is falling apart. We're falling together so we'll solve it together.
China
Nah, pretty much every country around the globe is falling apart rn, different reasons for each, but we are headed towards a world wide crisis that will last the next couple decades, this doesn't necessarily mean war although there are quite a few war like conflicts but we are reaching the end of just how far fiat money and technology can pave over the underlying societal problems we face.
don't you ever dare to criticize Switzerland, my favorite country :) But honestly, Switzerland is more, than its banking system. The best about Switzerland is its political system and its people. It is a bottom up society, very decentralized and with long standing tradition of independence and autonomy. People can decide many things via referendums, instead of government telling, what to do and how to think.
If Switzerland is so "bottom up", the fact that they didn't allow women's vote until 1971 tells us that it's population is extremely backwards, doesn't it?
They get way way too much snow,
Igloo. It is not worth it. It's at the bottom of my list, really not on it at all.
The Swiss still have great companies and tourism. Not just banks.
And a taxation which attracts companies and individuals from all over the world
@@xyyx1091 Sure, what's wrong with low taxation? The debt ratio to GDP is 30%, this year budget is likely to be breakeven, so we don't spend more than we earn, thus no need to raise our taxes. It's just good and sound management, unlike most developed countries.
@@mottetar I completely agree with you. I meant that Switzerland will always attract people and Companies thanks to a fair taxation.
Fair taxation ONLY comes from a nation that doesn’t spend more than its revenue. Unfortunately, I think Switzerland has already crossed that rubicon.
@@sandymilne224 I'm not sure to understand what you exactly mean. As I mentioned in my comment, Switzerland, after the covid years during which they have indeed spent more than they earned, for the first times in decades, they are managing to break even this year and positive in the years to come to reimburse the additional debt created during covid. Anyway, with a debt ratio of 30% to GDP and an economy that is groeing slowly but steadily, covid or not covid, there is enough room to sustain a small deficit without having to raise taxes.
Switzerland has been my favorite country since I first visited in 1969. Even as a kid, I knew it was very special. As a person who admires quality, cleanliness, craftsmanship, beauty and class, for the individual who works with their hands there is no place better on Earth! The Swiss people are very smart, educated, elegant and hard working. I began working with Swissair in 1987, and learned how to do things right. Overall, I term Switzerland, "A culture of quality". With that being said, not everything by any measure is perfect. Swissair went out of business in 2003 after 71 years of what many argue was the world's best airline. Why? EU consolidation with the introduction of the Euro into neighboring countries, excessive debt and overreach by its executives to maintain and expand market share. The culture of quality remains but I am seriously concerned what will happen if Europe falls apart due to lack of energy, destabilization, serious harmful influences by the World Economic Forum, the EU and US, which certainly have not helped Switzerland in the least. To me, should Central Bank Digital currencies be forced upon Western Civilization, I believe firmly that freedom will be erased, and all of Western society slowly crumble into chaos. People are not going to allow governments, meant to serve them, force them into virtual, digital slavery!
Well spoken my friend❤
Yeah I completely agree with you. However, as Switzerland has always been innovative, they are playing with the idea of cryptocurrencies, which have the potential to fight against those CBDC's, and to gain back the model of privacy Switzerland was famous before...
So true! It is a very special place! ❤️🇨🇭 my heart is there in Switzerland even though I’m not.
Every country definitely seems broken this day and age.
Because globally we are going through technological phases that not a lot of countries are prepared for..
We should be worried if we do not figure out how to adopt AI in governmental structures.
I can report everything is absolutely fine here, banking kerfuffle notwithstanding
@@Siranoxz more than that.....we focus of the highlights only....which usually are negative.
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Yes Swiss francs, crypto no
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Okay, I thought this video was about why the Swiss economy was in bad shape. In reality, this video only talks about the banking sector which is not significantly larger than in other countries. It is mainly the export industries (pharmaceutical industry, chemical industry, microtechnology, industrial electricity, industrial technology, watchmaking, etc.) that make money in Switzerland. The most powerful companies in the country are not companies that have relocated to Switzerland for tax purposes but companies that were created by Swiss people from the start (Nestlé, Novartis, Roche, ABB, MSC, etc.) and the success of these industrial companies is not linked to the success of the financial sector. Moreover, Switzerland remains one of the most important commodity trading centres in the world despite the collapse of Credit Suisse, which means that the collapse of the banking sector does not mean the collapse of the financial sector. And in particular, the collapse of the banking sector does not mean the collapse of such a diversified economy
Switzerland has consistently been ranked the most innovative country in the world. It doesn't rely on banking alone. It can survive and continue to thrive on manufacturing chocolates and high-tech machinery, services industry, education and tourism.
the least innovative *
@@SMILYSUNFLOWER sur le papier je m’en bats les couilles, en pratique c pas le cas.
@@SMILYSUNFLOWER Pas besoin d’être économiste pour se rendre compte de certaines choses. En Suisse il y a une vraie manie pour le papiers (diplôme) et ce même pour des tafs où il faut aucune qualification spécifique comme les call center…. Les économistes prennent quelques boites brillantes qui sont vraiment innovantes et projettent cette innovation alors sur tout le pays…..
😂😂😂
So according to your theory Switzerland's economic model is banking secrecy and that's all? 🤣
at the end of the day switzerland is just an normal country like any other european country with a good social welfare program, stable living condition and stable economy
That's the banking model, as the vid explained Switzerland also is well industrialized with good transportation infrastructure. But the banking model is dead in the water now, considering the US/EU demand their citizens' banking information (in the future one can imagine China, India, ASEAN, etc demanding as well), and the rest of the world can no longer trust the Swiss with their money now their neutrality is dead- today it's the Russians, but tomorrow it could be the Saudis, Chinese, Indians, Nigerians, Brazilians, etc. getting targeted by the US, and other organizations (drug cartels, terrorist organizations, etc) also naturally won't feel safe there anymore.
They got rich by helping the wealthy hide their wealth, not pay taxes and launder for criminals and cartels.
Switzerland operates another economic model too- taking water from water-stressed communities and exploiting child labour in Ivory Coast and Ghana
@@Thanatar13 Secrecy is not everything. Stability and strong currency are important as well. I prefer to put my savings in Swiss francs, although maybe not at UBS.
The world is changed, but Switzerland’s economic model is absolutely NOT failing!
Switzerland has a huge amount of exports and a ton of huge companies that provide massive value to the whole world. The banking sector is just one factor for Switzerland's amazing economy. I live here, and trust me, people are well off. People are happy, and the economy is as strong as ever.
Not really, nowadays the financial sector makes less than 10% of GDP, and that includes the massive insurance sector which is massive both domestically and internationally. Plus UBS and CS are well known as they are the international banks, but until their "fusion", they were eclipsed by Raiffeisen, a domestic cooperative banks, and had been losing the domestic market to that and many other domestic banks ever since 2008.
Also prior to banking Switzerland's economy has been grounded in high added value industries tied to innovation, of which watchmaking was one of the precursors, along with a globalized textile industry as early as the XVIIIth century.
tfw I totally forgot about Raiffaisen
This guy seems to think the people of Switzerland will be starving in the street, turning tricks for quarters.
if UBS goes down its over. full fledged crisis that will effect future generations.
He literally says if the bank system fails the country has many succesful companies and will continue to be a relatively wealthy country. You didn't watch the video all the way through, did you?
@@bluefernlove his swiss ego talks, he's offended. Thats typical of a swiss.
Credit Suisse fell apart, it's rich investors and share holders's lost some pocket money but Switzerland is not falling apart because of it😁
That's old news and already priced in the relative positioning of Switzerland. Yes, some old revenue sources have dried up, but Switzerland has successfully moved on and has remained on top. Most importantly, compared to the problems other western economies face, Switzerland looks relatively well. So money will still migrate towards it in times of crisis. There's no better alternative. Simple as that.
Better alternative is making the poor peoples life better.
As a spanish citizen born and raise until 7 years in Zürich I can say there is no more miracle than hard work....... Serious and formal people and again hard work.......
0:10 for real though, those articles are kinda accurate, Oman and Uruguay really are the Switzerland of their regions. Rwanda is Africa’s
I’d say it’s Botswana
@@douglastakle8242 forgot about them, that’s true. Either one of them
Rwanda is more often compared to Singapore.
Somalia was once called the Switzerland of Africa. Today, Guinea and Uganda are called the Switzerland of Africa due to the mountains.
@@artman12 sorry but to be the “Switzerland of an area” is not just about geography. It is about the economy and peace within the nation. Uruguay and Oman are nothing like Switzerland in terms of geography, but they are very peaceful compared to their neighbours and both don’t get involved in international affairs much, just like Switzerland. Botswana and Rwanda are similar in that regard. Guinea and Uganda are far from economically successful and aren’t exactly that peaceful, especially compared to some of their neighbours
Our economy is fine thank you. Our economy is not based on banks alone, we have plenty of other things we produce and do. The State banks here are very good and stable. I have my money in one of them. Just because of what happened with Credit Suisse doesn’t mean our country will suddenly fail. There is more to our country than just banks.
I'd say the bigger problem is the economic troubles of Switzerland's neighbors, which will have an effect on Swiss exports, tourism to Switzerland and so on.
It is those sneaky power hungry international billionaire oligarchs who will try and destabilize every country .
What a bunch of croc. Sitzerland has the best universities in all of continental Europe. It is consistantly ranked as the most competitive country in the world, has one of the highest GDPs on the planet, one of the strongest currencies in the world, its currecy continues to strenghen against the dollar (since 1971 over 500%!!), aganst the Euro, the GBP and the Yen. Notice a pattern? Switzerland is the only country on the planet with a true, direct democracy where the people actually have a say in their destiny, has the second highest life expectency on the planet, the highest prodution of patents per capita and produces more than TWICE the patents per capita than the second ranked country Sweden per year. Just think about that for a second. More than TWICE as many patents per capita per year as the number two nation in the world! Patents are one of the key drivers of GDP!
You say how unbelievably important banking is to the Swiss "economic model", which effectively demonstrates how little you understand about that country. The whole financial sector in Switzerland is approx 10% of GDP. However, the Swiss include the huge Insurance business in that 10%. If you delve a bit deeper into Swiss economic statistics, you discover that the actual banking industry is only approx. 5% of Swiss GDP. However, in your video, you use that small 5% sliver to predict the future demise of the "Swiss economic model" and its wealth. Big mistake.
I have bad news for you: the Swiss economic model is just fine, thank you. Its prospects are fabulous and it still is - and will continue to be - vastly more successful than any EU or OECD country. Most EU and OECD countries (including the US of A) will continue to fall further behind Switzerland over the next decades, while Switzerland will continue to propser and increase the well-being for its citizens.
An example of an actually failed state amongst the G7 and in the EU - just for good measure, you ask?
Italy has produced a total combined GDP growth from 2005 to 2021 for its citizens of how much?? Yup:. a big, fat ZERO. ZILCH. NOTHING. 16 years of solid failure and stagnation. Loss of wealth. No progress. No future. No economic model to speak of. Just all encompassing, national, economic failure. Now THER'Es a country your titel would actually apply to since decades! Italy's failure also affects way more people as well. Can we expect a video on the massive failed states of the EU and the OECD anytime soon, or is your focus an bogus stories on the "falling apart" of the Swiss economic model just so time and resource consuming? 😂😂 Or perhaps your're being paid for nonsensical, politically manipulating videos to distract from the actual national failures?
BTW: How much has Switzerland's GDP grown during that same period as Italy? Yup: 53%. Now suddenly, Italy has had two years of growth. Why? Because it has received 257 BILLION!! Euros in political ransom from the European money printing presses (for not leaving the Euro) to "invest in the green future". Haha. 🤣😂 If you take that princly sum of printed political ransom out of the GDP calculation, Italy still has ZERO growth, while Switzerland consistantly produces actual, real growth and prosperity decade over decade. Are you perhaps starting to get the REAL economic picture, or are you politically just too fixated on the Swiss banking industry myth you're cultivating in you video? 🤣🤣
No doubt, The Swiss people have an insane accuracy reputation and come by it quite honestly - However, what this Vid points out is how it will be disrupting their economy
from within. The Banking Industry and its 'product' has a very different effect on things when something catastrophic occurs with them - Their disruption is Your disruption.
Period.
Great comment. Particularly the part where you dunk on italy.
Have you been there and speak with local people? See the age of villagers? Prices?
Seems like you took this video personal.
Spot on!
The rescue wasn‘t a matter of swiss economy stability but world economic stability.
"Look beyond the headlines."
Great job reading the headlines.
Don't forget that some of the biggest Biotech companies are Swiss. GlenCore, although a horrible company is Swiss. Nestle is Swiss. I could go on but I think you get that Switzerland will in no shape or form have any economic Problems. We have almost all of the Biggest watch brands based here too. They all pay Taxes in Switzerland. Although banking makes up a significant amount of our Economy, It wouldn't be too big of a setback if it starts to fail for the economy
What goes under the radar is that swiss military industry is blowing up, they made 3 times more money than last year which compensates some of the banking losses and it benefits somewhat Switzerland's government that CS fell down because UBS' biggest shareholder is the Swiss National Bank and with UBS acquiring CS, the SNB now also controls CS
swiss hase some patent on weapons. even in the early battleship ages there was some oerlikon mk on some US ships. and guns of course. we can ( but should not ) deliever both partys with gear and weapons. like this is allready the case.
The ingenious way in which Switzerland handled the Credit Suisse crisis has increased the confidence of many investors. No comparison with other countries, which tend to act helplessly. It made it possible to carry out a strategically sensible merger that would not have been possible under normal circumstances. UBS will become one of the 10 largest banks in the world. The other banking centres are suffering from indebted states and weak currencies. An investment in Swiss francs brings a return of 10% if only the currency gains are taken into account.
Relocated last year. Just the Value appreciation of CHF alone seems to increase my salary by 10% per year if converted to €. EU is falling apart thats for sure.
Hey guys, I'm looking to invest but I don't know anything about the market. Any help? As well who can I reach out to?
I would advise you seek professional assistance because creating a strong financial portfolio is more difficult... This will enable you to receive methods catered to your own long-term objectives and financial aspirations.
Making touch with financial advisors like Naomi who can assist you restructure your portfolio would be a very creative option. Personal financial management will be crucial to navigating the next difficult times.
I agree with you! With her help, I diversified my 150k portfolio among different markets during this bearish market period.
Many beginners including myself have benefited from Naomi's assistance. I was able to make about 68k from her services. Incredibly profitable!
Could someone kindly leave the details of this investment analyst here??
I think there are some mistakes in this video.
1.
claim: 1:09 Poor mini regions constantly fighting with each other.
response: There was some minor fighting, but overal Switzerland had been a rather peaceful place for around 300 years
How to verify: You can look in wikipedia for wars involving Switzerland and there will be barely anything between mid 15 hundreds and Napoleon.
2.
claim: 2:08 Banking Secrecy
Response: Banking Secrecy was established in 1934, after germany started confiscating jewish property. This can not explain why the Swiss banking sector would have been successful in the 19th century, far before that.
How to verify: "Banking in Switzerland" wikipedia
3.
claim: 8:22 If the megabank would collapse it would take the entire country along with it
response: The financial sector represents 9 to 10% of the Swiss economy, this includes both banks and insurance companies. This new mega bank combining CS and UBS is around half of that. Loosing 5% of the economy is bad, but not taking the entire country down and likely not all the business will vanish, but rather transition to other banks.
source: official swiss goverment page title "Banks and insurance companies"
Sometimes it's not the best way to keep your financial in the bank because it's won't grow, keeping funds in the best way is to invest it and see more coming.
You're absolutely right, to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.
@@stellarose-qb6idI agree with you. Investment is the key to sustaining your financial longevity. And not just any investment but an investment with guaranteed return.
yeah investment is the key to sustaining your financial longevity but venturing into any legit investment or business without a proper guidance of an expert can lead to great loss too.
@@patrickalex-rt3lqExactly and many of us don't know where to invest our money so we invest it on wrong place and to the wrong people
Obviously talking about been successful, I know I am blessed if not I wouldn't have met someone who is as spectacular as Debra Barton@@chrisharrison-ir5wb
That explains the deluge of Swiss Tourism ad recently. Not complaining though , Seeing Roger Federer explaining Swiss Alps beauty is treat😄
I think you overstate the importance of the banks. The entire financial services industry is only about 10% of the economy , and that includes the whole (re)insurance sector. Think about manufacturing - Nestle, ABB etc and all of the drug companies as well as the tech sector etc. I think that the Swiss economy is much better placed to prosper than many others in Europe, such as that of the UK.
I recognize Lausanne with its cathedral and the Leman lac( or Geneva lac) a couple of time Interesting how Lausanne was beautiful before and now turning more and more into a wokness Hell with the Left managing it
So many good videos of Lausanne from the past. Riponne, cathédrale. It’s so great to see this!
hey, these videos are really well made and written, but i would really appreciate it if you cited and linked your sources in the description
If there’s a country that will survive everything it’s Switzerland. Doesn’t get better than a direct democracy and proper economic liberalism. I suggest you read the book “The Swiss Labyrinth” to be correctly informed. IT’S NOT FALLING APART 😂
If the EU abandons sanctions, as it will probably do the next six month to a year; Switzerland is off the hook.
Why do you think EU would abandon its sanctions on Russia, when the US struggles to remove sanctions on Cuba?
EU will never abandon sanctions on Russia unless Putin is dead and whoever replaces him is a Western crony.
@@alehaim Because the EU is not as extremist and insane as the USA.
@@johnkelly3886oh really . Boohoohooo
Yeah, that's not happening. Unless you believe Russia is pulling out of Ukraine in that time, or that Ukraine will push the Russians out of the country, which is quite possible. But even if they do that, things will not go back to the way they were prior to the invasion.
Btw Switzerland is tax friendly right? I heard they don't tax a lot like other countries.
Swiss taxes are an average of 40% - up/down: depending on WHICH canton - State - one lives.... - Zurich = one of the highest // ZUG / SCHWYZ = are the lowest...! = info by a Swiss native... Mad.
Nothing falling apart here. Inflation is at the lowest comparing to Europe. Greetings from Switzerland.
WEF pulled off the biggest heist in world history. Every corporation got ripped off making FTX look like childs play
If only the rest of the world was as good as Switzerland, I have cycled around the whole country, its beautiful clean high standards and nice friendly people, I have travelled to quite a lot of countries but Switzerland is still my favourite hot summers and snowy winters everything works as it should, an upmarket smaller efficient Germany with Italian flair and French style what's not to love about it, just wish I could afford to live there 🙄
Yes!!!
As a Swiss I'm quite greatful for this video telling me that the economy in my country is falling apart. I'd never have found that out by looking at how I, or any of my family and friends working in different places and domains are doing. Also the media is not talking about it, neither leaders in politics, economy or even trade unions... gotta be on the lookout for that crisis.
Love the tutorials and really dig the tunes that you create. Thank you! 🙏
😂 The Swiss miracle has not much to do with its banking system or neutrality. Rather, it is our love for innovation. Also we enjoy stability thanks to our direct democracy, which you totally failed to even mention. I give your video a 4/10.
There are many reasons indeed and the question is whether it is Banking that made Switzerland or Switzerland that made Banking. I.e. nobody (well to an extent) stopped other countries to offer good banking services. The local mentality played a very important part even in the Banking industry alone. The mentality in turn was formed by the geography etc..etc..etc.
Switzerland is not just about Banks, if I have to compare Switzerland to other European countries I have to say I’m thankful I’m living here.
"Why Switzerland's Economic Model Is Falling Apart" is a wrong title for this video. The economic system that made and is still making Switzerland so rich is based on economic freedom, or liberalism. It's obvious that the Swiss banks are clearly in trouble, but the stability and prosperity of this country is far away to be broken up.
Banks count only for about 5% of the Swiss GDP. Banks are not Switzerland's Business Model.
Yeah. Right. 😂 👏 Cheers from 🇨🇭
6:27 "at least you know that they are safe" - oh no, I know what's coming LOL
You should rather be worried about out own country my friend. Switzerland ist just fine, miles ahead of most others.
Reading the comments here, this situation in CH hasn't been explained well at all or even misrepresented. I learnt more from the comments than the video.
No wonder that Switzerland has become so rich: it made business, while the other countries all around made war; reinvests (cleverly) its profits, instead of spending them on fighting (from which only warmongers really took advantage). The rule of thumb and goal in the dominant socio-economic order being capital accumulation; it is not so astonishing it became prominent as a heaven of peace.
Yet, now that the last (and hopefully final) crisis of the capitalism is surging fast; it is not so surprising that the paramount beneficiaries (not solely Switzerland but also even more visibly, Sweden as for European continent) abandon their age old wise approach and join the mortal struggle for the continuation of rather hopeless order which have not only witnessed, but also promoted their ascent and very much wealth.
As Switzerland has a strong banking sector, we know how to diversify risk. This means also in different businessmodels, also innovation wise switzerland ranks always in the top 10. Switzerland knows about the here mentioned risk, but i cleverly finding new ways.
I enjoyed your videos, because of the old footage of the places I know very well :)
Why does this guy talk like the Burger King foot lettuce guy?
video on germany please
Imigrants, green deal gg. We dont need video xd
In the meantime, the US Congress is playing roulette with the US Debt Ceiling and putting the global banking system and world’s economy in jeopardy. Just recognizing the elephant in the room.
This social media gets uglier. To get attention such a headline!! I have been living in Switzerland for years, I have seen many countries. Swiss people did a really good job. Without energy export, they make +10% of their gdp of current account surplus. What are you talking about 😀. They have an incredible solid economy. One banks goes one bank comes who cares it as long as your core engine is strong.
Why does the world allow this small minority of Banksters to control the world's credit supply, award themselves massive bonuses and risk the economy? There must be a better way to run the economy.
Knights Templar founded, in 1291. (NWO "extended bloodliners," vs. the OWO "divine right of kings, and pharaohs...") Rape and pillage capital, of Europe... then the world. (And behind most medieval to modern wars, revolutions, coups, assassinations, etc. Particularly since they established the BI$, in 1930... and the Trojan horsed UN, in 1946... thanks to their Intl. network of knights, (Free)masons and central banks, etc. And now they want a 'global' CBDC? LOLOLOL. So WHERE IS our GOLD... Swi$$ieland??? There's going to be HELL... to PAY... because millions already know enough about... your REAL 'history!' (Swiss Canaanite Pharaohnic bloodliners = Nazim Templars of Octogon. ;-)
Because there is no one to stop them.
🙄
Being Swiss I want to clarify that Switzerland is doing well. Switzerland did experience an increase in poverty and a decrease in gdp growth, but that was mainly due to covid. Climate change is also having a destructive impact on the economy of regions famous for winter sports, but Switzerland is absolutely not about to collapse. Furthermore the collapse of Credit Suisse, which was a complete embarrassment, did not by any mean signify the end of Swiss banks. Banks work all around the world, even without secrecy and even without anything special. Swiss banks will surely see a decrease in deposits and therefore revenue, but will not collapse. Credit Swiss was one accident, not an undeniable catastrophe. Furthermore Switzerland has international reach, stability and continuous economic development. What makes Switzerland rich is not just banks. We have the second most varied economy in the world, which means that if someone fragment of the economy fails, we have hundreds more. Switzerland is not doing well mostly due to climate change, not to incompetence (which is still very embarrassing and even though I’m a nobody I want to apologise for the mismanagement, especially to the families that saw turmoil being brought in their lives by the collapse of those morons). Take this message as a sign that climate change will always be a greater problem than any episode of mismanagement
The Banking industry is very small in comparison to other industries. It is totally overplayed by outsiders.
Hi, hem, the banking in Switzerland is now around… 8% of the country's GDP, so not really a concern - on the other side, it's industry is flourishing and _very_ resilient as it is mostly composed of small (mainly familial) companies exporting _a lot_ , they also very often are world leaders in their branch (Swiss quality isn't an empty formula).
The education system has been polished in each and every bit to improve it, mixing between apprenticeship and higher education and much more than that, a very well thought gateway between the both of them to easily allow a former apprentice to come back to long studies or, at the opposite, some graduated people to completely change their kind of work, it is one of the most efficient package of the kind in the world.
Notably, is is also a country where several companies are running without a CEO and even without the whole top of the pyramid and even the pyramid itself, using a longitudinal organization - this is a very uncommon thing you don't find everywhere.
So, this video is an external view (and very old romantic style but still very wrong) cliché, nothing more (disclaimer : I'm French, not Swiss).
Swiss people sleep early
, wake up early
, and show up to the work early. Such people's economy does not fall apart.
Switzerland is #1 in Innovation rankings, before USA and before Singapore. Swiss precise manufacturing and high tech industries are highly competitive. Switzerland is 5th largest investor in the USA, that is huge for a small county, creating jobs in the USA.
Banking is just one part of CH. US and many international companies are selecting CH as their European headquarter. Switzerland is yet better today as it ever was, while most western countries around are lagging behind in infrastructure. Swiss people have a sense for the practical things in life and are rather realistic. That brings stability and continuous development in a world of instability. Each year, thousands of new immigrants from EU are coming to work in Switzerland. They like a life with prospects, development and freedom.
"The usual suspects" blackmailed them as they are accustomed to do with anybody else.
There's more to Switzerland than banking, and the country is not falling apart.
Switzerland have a powerful and divers économy compared to other country
What you overlook is that Switzerland's success is based on how the country is governed. It is a confederation which is governed decentralized and where there is fierce competition between the various cantons in relation to how to govern and tax.
There is nothing wrong with Switzerland but I rather get the impression that you are using Switzerland 🇨🇭 flag to promote your skill share product. Nothing is going down in Switzerland except skier ⛷️ on mountain slope.
The banking sector is 8% of the Swiss economy, and they have been topping productivity charts for years. They will do just fine.
Switzerland 🇨🇭: "Oh no my money💸! 😭".
The Swiss banking sector is not as big as the envious foreigners use to nurture their prejudices about Switzerland. It makes only ca. 12% of Swiss GDP.
12% is the entire financial sector in Switzerland including insurance business.
The banking sector is only about 5% of GDP and the majority of this is for domestic banking.
@@3Body1307 👍👏
You don't know what you are talking about.
another value proposition is to store money outside EU, so it's easier to invest in stuff that are usually denied by EU like crypto
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I don't agree with this video.
Banking (without Insurance) is only about 5% of Swiss GDP. While being important, it doesn't make anything fall apart or change any of the other fundamentals.
100% of non-Swiss people watching this video wishing their economic model would fall apart like Switzerland's
Beatiful nature is rare resource. Many live in depressing nature conditions. Oligarch families move to live there.
It has not been that way for centuries… up until mid 1900s Switzerland was the poor house of Europe… huge misconception… ask any old Swiss person about their childhood and they will tell you about hunger and hardship
as a Swiss I can only lol at the title
9:35 The banking sector is not an *extremely important* part of the Swiss economy. This is a common misconception about the Swiss banking industry. It ouly counts for around 10% of the Swiss economy.
Actually, the banking industry only accounts for approx. 5% of the Swiss GDP. The other 5% of "financial products and services ' are in fact the entire, huge insurance products and services, which in their own right are world class as well.
"banking secrecy" also known as money laundering in other countries
UK with trusts ……US not fare behind …… many more better clean up their acts first …
why does the skill share ad get special treatment -none of that frustrating music
Ok so your argument is that: 1. Swiss banking transparency is a problem (for whom exactly?) and,
2. One bank crashing (among how many that melted down in the rest of the world) is significant how?
Considering Switzerland has one of the lowest and controlled levels of inflation, I think they should be looked at as a model to follow. You may want to base your research and analysis beyond grade school level narrative.
Refuse... 1) CBDC 2) Internet of bodies 3) Digital ID, and 4) Inclusion. 5) Exerices free market 6) 7) Sell ESG stocks 8) W/draw from ESG banks 9) Defund UN, ESG, etc through legislation.
Switzerland is stronger day by day, other economies are fallen apart. You have to put the money in a place with a stable currency. The US dollar and the British pound are constantly losing value against the Swiss franc. In 1960, one US dollar cost 4.50, now it is o.90. 1 pound cost 11 CHF Now about 1 CHF. The euro has lost a third of its value since its introduction. The dramatic currency collapse will intensify in a time of galloping inflation in these countries. Without intervention by the Swiss National Bank in favour of these currencies, the dollar and the pound would be at 0.10. There is no alternative to Switzerland for any dutiful investor.
It would still work if it hadn't been given up
You completely forgot to mention that in the 1990s' the US pressured the Swiss banks to give the names of all bank accounts of Jews who had opened bank accounts in Switzerland before the war in 1939. Many were murdered by Germany and after the war Switzerland stole their money.
They also depleted the accounts by huge bank fees.
The survivors and relatives who forgot the account numbers were refused cooperation. The relatives were requested to give a Death Certificate even if the relatives were murdered at Auschwitz. Germany did not give out Death Certificates for the 6 million that were murdered.
There were also non Jews and even Nazis who had bank accounts in Switzerland which were either not claimed or the relatives couldnot have access to them as they did not have the account numbers. The Swiss banks refused to cooperate.
The Swiss banks had to pay about $1 billion in fines.
Bruh moment
Such an outdated story. Tell me something new. The holocaust story is getting so boring by now
@@secrets.295 You're so right. It has become so cliché and annoying. And which country is flawless looking at its past? Colonialism, slavery, expropriation and partial extermination of origin populations like indians, etc. The world is so jealous of Switzerland success that they have to spoil it as much as they can, not looking at their own failures.
salaries went up this year and groceries are just slightly more expensive compared to other countries, I think they are doing well.
I agree with many points in your video, UBS being one megabank is not a very good thing but many people stored their money in the cantonal banks and different banks/financial institutions/Broker, also the swiss government is increasingly regulating the bank sector because of credit suisse. In addition the SNB (Swiss National Bank) and the swiss economy is in pretty good shape so they’re providing 259 billions in Liquidity Assistance for credit suisse (which btw is still operating it‘s normal everyday business besides a few exemptions). Unfortunately it will be integrated step by step into UBS which will make it one of the biggest banks worldwide and the combined assets will make it the largest real estate owner in Switzerland. Overall the bank sector is pretty resilient even if a big bank like UBS controls a big chunk of the financial system. PS. Eventhough bank secrecy is no more, banks love paperwork and really try to be a pain in the ass for third parties ;)
This video has many precious informations and stunning pictures.- However, the idea that is spread in this and many videos about the banking system in Switzerland is a myth and does not correspond to truth: the most important industries now are pharma, chemical products, machine Industries, watches, commodities trading etc, while the whole finance sector is less than 10 %, the banks about 5.8 % of GDP. However, the banks still impose a great threat as seen with Credit Suisse in case of default.
the reaI success of SwitzerIand comes from two things mainIy, a highIy stabIe society and a great pace of innovation; both are stiII true and its success is stiII untouched
5:30 of course the US just has to conveniently walk-in into everyone's issues.
People don't understand swiss bank secrecy in the us but like delaware and cayman islands tax system.
The fact that Credit Suisse broke down and got saved is a huge reason why the bank accounts of rich people will stay in Switzerland. Credit Suisse got saved in a single weekend in two days. Trust me here, neither North America nor the Eu nor Asia would have been able to pull this off. If this would have happened with something like JP. Morgen in America im saying that we would have an other financial crises right now