The Swiss Central Bank shocked on Thursday currency market, lifting the ceiling on the franc/euro exchange rate that had been in place for more than three years. Immediately after the Central Bank’s statement, the franc rate jumped to the dollar and euro by more than 30%, and the Swiss stock market fell by 10% - exporters suffered
The Swiss National Bank (SNB) is abandoning its policy of holding the franc exchange rate at 1.20 per euro, the SNB announced on Thursday, January 15. “The minimum exchange rate was introduced at a time of exceptional overvaluation of the Swiss franc and extremely high uncertainty in the financial markets", the Central Bank recalled. But in Lately The euro “significantly depreciated” against the US dollar, and therefore the franc, whose value was artificially limited by the ceiling of the Central Bank, also fell in price against the dollar. “In these circumstances, the SNB has concluded that maintaining a minimum exchange rate between the franc and the euro is no longer justified,” it said ( .).
In September 2011, the SNB limited the growth of the franc to 1.20/€ (in other words, it prohibited the franc from being worth more than €0.83), since the appreciation of the national currency hit Swiss exporters and jeopardized the stability of the Swiss economy. About 45% of Switzerland's exports go to eurozone countries.
The franc is traditionally considered a “safe haven” currency that attracts investors in times of crisis. The SNB notes that the franc is “still high” but is no longer as overvalued as in previous years.
Chaos and panic
Currency markets experienced “several chaotic minutes” after the SNB announcement, Reuters writes. The euro/franc pair quickly broke through the parity level: soon only 0.8052 francs were given for one euro, compared to more than 1.20 before the Central Bank’s decision (that is, the euro fell in price against the franc by 33%). The dollar fell by 31% against the franc.
As of 15:30 Moscow time, the franc to euro exchange rate is close to parity, and the growth of the Swiss currency relative to the European currency is 17%.
“This is an extremely aggressive and completely unexpected move; the Central Bank did not prepare the market for it,” Alexandre Baradez, an analyst at the brokerage company IG France, commented on the SNB decision. “There is panic across all asset classes right now.” SNB Deputy Chairman Jean-Pierre Dantin said just three days ago that the exchange rate ceiling against the euro will remain a central element monetary policy Central Bank.
Currency trading platform Forex.com suspended trading in the Swiss franc on Thursday due to a sharp increase in volatility, Reuters reported.
A terrible day for Switzerland Inc.
The Swiss stock market crashed after the SNB decision. The Swiss blue chip index SMI fell by 13%, as of 15:30 Moscow time the fall relative to the previous day is 10.5%. If the SMI ends the session at roughly the same levels, it would be the index's biggest one-day fall since October 1989, the FT said.
The leaders of the fall are shares of exporters, whose revenue may now suffer due to the strengthening of the franc. Shares of watchmaker Swatch, owner of luxury brands Richemont and cement producer Holcim fell by more than 10%. According to Reuters, the capitalization of Swiss blue chips has dropped by more than $100 billion today. Swatch Group CEO Nick Hayek expressed panic among exporters: “Today’s action by the SNB is a tsunami for the export industry and tourism and, finally, for the entire country.”
"This is a terrible day for corporate Switzerland," said Jon Cox, an analyst at brokerage Kepler Cheuvreux.
By the end of the day (as of 21:00 Moscow time), the franc strengthened against the euro by 16%, against the dollar by 14%, and the Swiss Stock Exchange SMI index closed in the red by 8.7%.
Good day, dear readers of Andrey Noak’s Blog. Let's look today at how wood cutting should be done in winter, as opposed to in summer.
I want to say right away that the article is taken from my new book “ORGANIZATION OF SAWMILLING IN A MODERN ENTERPRISE.” This book provides simply unique information about sawmilling and its organization. You definitely won't find this kind of information anywhere.
At one time, German specialists came to us and taught us how to operate equipment and wood processing technology. The cost of a specialist of this class is 2000 euros per day. I have updated the information, taking into account my personal experience I give it away for free. More details about this book can be found in the “MY BOOKS” section in the top menu.
In addition to relevant and interesting literature, I can provide advice on the selection of sawmill equipment, write a business plan, organize technological process. After all, I know firsthand that if the organization is not organized correctly, an enterprise sometimes even has to take on additional sawing lines, and this is simply a colossal expense. More details about my services can be found in the “SERVICES” section.
A set of measures when cutting wood in winter
When cutting wood in winter, it is necessary to carry out a set of measures to reduce the load on the equipment, and simple rules will help you save more than one saw and get great benefit for production:
- Sawing round wood in winter involves debarking the wood, this significantly reduces the cost of cutting tools. Frozen dirt and sand wear out the tool very quickly.
- The technology for sawing round timber in winter involves reducing the sawing speed compared to summer.
- Thick wood freezes less than thin wood, so it is easier to cut. This is relevant in very coldy, we leave thin wood for warmer days, and cut thick wood in severe frosts.
- It is better to saw thick lumber than thin, this will increase the useful yield of lumber, reduce the load and wear of the cutting tool.
- Lumber with good yield is not always sawn in production; sometimes the market requires sawing small sections. Therefore, it is necessary to be guided by the rule: “We cut small sizes from small forests, with large forest we cut large sizes.” This rule will save you more than one saw, more than one kilowatt of electricity and increase the service life of the machines.
- Sawing round wood only according to strictly specified deliveries. The technologist develops a framework that must be adhered to.
- Round timber with high initial humidity becomes very fragile in the cold, this leads to the fact that the cutting tool very often simply breaks, the soldering tips on the saws fly off, the saws bend against the timber being cut, and the lumber can crumble. Sawing of timber with low humidity is carried out in winter time much easier.
- Very often when low temperatures the thickness of the saw body has to be increased, but this has a negative impact on the percentage of lumber yield.
- The technology for sawing round wood in winter involves more frequent sharpening of the cutting tool, this prevents premature failure of the tool (it is necessary to always have a spare set of cutting set in order to quickly and painlessly change it during operation).
- Of course, it is better to determine the cutting time when more warm weather. That's why forest is better to cut in summer than in winter, it is better to cut wood during a thaw than in frost, it is better to cut wood in the afternoon than in the morning. This should be used in severe frosts, often the workday is simply shifted and starts one to two hours later.
- More frequent control of the dimensions of lumber is necessary; saws fail more often, and low-quality lumber is produced more often.
- At any time of the year, the quality of sawing is greatly influenced by the raw materials, and these are rot, curvature and other defects. Therefore, it is necessary to properly prepare the saw log for sawing; you can read more about this
This week I turn thirty-something. I don’t give the exact age, because compared to me the rest of the employees are babies. I don't want to dine alone, society has taught me that aging is a failure. So I try to save myself from despair through denial and self-deception, try not to think about real age and convince myself that I look 25.
I'm ashamed of my age. Aging is a problem like no other. life trials When you fail, you get up and try again. I cannot become younger, my age is not subject to discussion or adjustment. I try not to define myself by age, but people around me are not so kind.
Birthday - a great opportunity indulge in unproductive regrets and worries
To top it off, I hadn’t accomplished a single item on the list of goals that a person my age should achieve. I have no partner, no children. There is a ridiculous amount in the bank account. I don’t even dream of buying my own home; I barely have enough money to rent.
Of course, I didn’t think that my life at 30 would be like this. Birthdays are a great opportunity to indulge in unproductive regrets and worries. Brief summary: I’m turning thirty-something, I’m hiding my age and I’m worried. But I know I'm not alone. Many thought that adulthood will look different. I'm glad she's not what I imagined. I have four reasons for this.
Adventures
I grew up in a small town. IN free time I read books and dreamed of adventures. Our family didn’t go anywhere; trips to visit relatives in a neighboring town don’t count. My youth was happy in its own way, but unremarkable.
Nowadays there are so many stamps in a passport that it’s impossible to count them. I lived in Los Angeles, New York and Bali, moving simply because I wanted to, without plans or financial guarantees. I fell in love with men on three different continents, I could have married the one who proposed at 25. But I chose a different option. When I look back and realize how much experience I gained, I don’t regret the decision.
Tests
My psychotherapist described what I experienced three years ago as “enlightenment.” This is usually called nervous breakdown. I quit my job, moved out of town, and reset my whole life.
I had a successful job, many fans. However, I felt that I was not living my own life. At some point it burst out. My life is a thousand times more comfortable now, so the suffering was worth it.
When you're free, it's hard to ignore the nagging voice in your head because you spend so much time alone with it.
A friend of mine experienced something similar when she was married. During the process of "rebirth" she had to go through a difficult divorce while I was meditating in the jungle. I'm not saying my situation was better. They were both terrible in their own way. But I wouldn’t trade the experience I had while living in Bali. It’s unlikely that I would be able to understand who I really am while in a relationship. When you're free, it's hard to ignore the nagging voice in your head because you spend so much time alone with it.
Awareness
I'm not sure I want what I'm supposed to want at my age. As a child, I had no doubt that I would get married. Before my eyes was the example of my parents - they have been married for 43 years. But now I don’t dream of getting married. The spirit of freedom is too strong in me to choose one man for the rest of my life.
I want children, but I'm starting to think that maybe I'm not meant to be a mother. Of course, the biological impulse makes itself felt. On a dating app, I start discussing children five minutes into the conversation. But intellectually I understand: children are not for me. I like to be free; these are not the best conditions for raising children.
In life you have to choose, and I'm happy with the choice
Go ahead. I left my job as a marketing executive to become a freelance writer. Now I'm an editor, but I still have less responsibility and less money. But I became much happier. Most of the time I don’t even notice that I’m working.
I still have big goals and good earnings it won't be superfluous. But in life you have to choose, and I am happy with the choice.
Future
Of course, I envy my friends who are raising children and can afford not to work. Sometimes I get so jealous that I have to remove them from my social circle. Their path is determined, but mine is not. On the one hand, it is frightening, on the other hand, it is breathtaking with anticipation.
I have no idea what my life will look like in the future. Ahead long haul, and that makes me happy. I don't want to know what my next twenty years will look like. I might break out and move to London in a month. I can get pregnant and give birth to twins. I can sell a book, fall in love, go to a monastery. I am open to endless options for events that can change my life.
If my achievements are not as obvious as buying own home or the birth of a child, this does not make them any less important
So I don't consider myself a failure. I don’t live according to a script, I’m an artist at heart. Creating a life without a plan is the most exciting experience I could imagine. Just because my accomplishments aren't as obvious as buying my own home or having a baby doesn't make them any less important.
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35-year-old Frank began cutting down a tree in his garden. About halfway through the tree, Frank's saw hit something hard. He put the saw away and discovered something so terrible that it left him in shock for several hours. Right in the tree...
he discovered THIS! This thing moved and looked absolutely terrible. Something tried to crawl out of the chopped tree. At some point, the man realized that it was half of some kind of reptile. She was literally cut into 2 parts. This picture caused genuine horror in the man and great regret for what he had done. He posted this story on social network, to warn everyone about the increased attitude and attention to Mother Nature.
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Filming took place in Borneo. wild female The orangutan somehow learned to use a saw. She liked this activity and quite often sawed branches and logs, holding them with her feet and removing sawdust with her mouth. The filming organizers knew about this and placed a spy robot at the orangutan’s favorite place of work, which looked very similar to a real monkey. This robot could move its limbs, change facial expressions using remote control and therefore did not arouse suspicion among the female. In addition, it was equipped with a camera for shooting video, which was its main purpose.
The robot not only recorded video, but also deliberately influenced the behavior of the female. At first he did not saw himself, but only watched her. Then he started sawing. This excited the living orangutan, and she began to saw with increased zeal. However, the robot did not know fatigue, unlike the female. Formally, he won the unspoken competition.
About 20 years ago, another orangutan rescued by humans also learned to saw, but was known to watch the workers. How the female shown in the video understood the principles of working with the tool is unknown.
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