by silvertomar
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