The Swiss National Bank Lost $143 Billion in 2022, by Far the Worst in its History

SNB has been buying foreign stocks and bonds with newly printed Swiss francs as a way to weaken its currency… the only asset in its portfolio that went up was gold…

BREAKING NEWS

THE SWISS NATIONAL BANK POSTED AN ANNUAL LOSS OF $142.67 BILLION IN 2022

What a time to be alive.

— Gold Telegraph ⚡ (@GoldTelegraph_) January 9, 2023

The Swiss National Bank has been printing (and selling) swiss francs for many years to keep it's currency pegged with the Euro.

So they had to buy something with those Euros and USD, and it included a lot of tech stocks. That paid off until 2022.

Source: https://t.co/oRxh0Iuw44 pic.twitter.com/fpxIQLaAHl

— Wall Street Silver (@WallStreetSilv) January 9, 2023

Central Banks Add More Gold in November as China Joins Buying Spree @schiffgold https://t.co/9p5rZQTozL

— Peter Schiff (@PeterSchiff) January 9, 2023


https://www.australiannational....review.com/state-of-