Is this still healthy? The Swiss National Bank made a total profit of 37.7 billion francs from January to the end of March.
This is the double of the Swiss Transverse Railroad, a century construction by the Swiss Confederation.
The central bank’s profits reach an absurd and intangible level. It is a picture of a deluge of money of historical proportions.
As of March 31, the Swiss National Bank had 951 billion foreign currency investments. It has huge amounts in US dollars, euros, yen, pounds and other currencies.
With the foreign exchange boom, which reached 910 billion at the end of 2020, total assets jumped to more than 1,000 billion. 1,030,533,500,000 exactly.
The rise in foreign exchange brought in 40 billion in profits. On the other hand, there was a loss in the gold portfolio.
The Swiss National Bank has become a donkey of money. It has become more and more difficult for her to confront the allegations of politics.
There is a loud call to create a sovereign wealth fund modeled on the Norwegian model. Unlike the Swiss Confederation, the countries to the north have “solid” assets: oil from the sea.
Scandinavians put company profits in a fund managed by the best money managers. This is how Norway wants to secure its wealth for future generations.
The SNB management under Thomas Jordan has so far refused to discuss the huge profits. It does not want a sovereign wealth fund because it says big profits can turn into big losses overnight.
The argument loses its strength with every quarter profit giga. The heads of the SNB must quickly show what they want to do with the large amount of money that is brought in from the computer to the citizens.
“Tv expert. Hardcore creator. Extreme music fan. Lifelong twitter geek. Certified travel enthusiast. Baconaholic. Pop culture nerd. Reader. Freelance student.”