Swiss National Bank loses nearly $143 billion in first nine months of 2022

[livingston]

Swiss National Bank loses nearly $143 billion in first nine months​

3 minute readOctober 31, 20223:43 AM EDTLast Updated a day ago

Swiss National Bank loses nearly $143 billion in first nine months​

By John Revill

ZURICH, Oct 31 (Reuters) - The Swiss National Bank (SNBN.S) lost 142.2 billion Swiss francs ($142.60 billion) in the first nine months of 2022, it said on Monday, as rising interest rates and the stronger Swiss franc slashed the value of the central bank's foreign investments.
The loss - the largest in the SNB's 115-year history - was slightly more than the annual economic output of Morocco ($132 billion), but the central bank does not face bankruptcy thanks to its ability to create money.

Swiss National Bank loses nearly $143 billion in first nine months

The Swiss National Bank lost 142.2 billion Swiss francs ($142.60 billion) in the first nine months of 2022, it said on Monday, as rising interest rates and the stronger Swiss franc slashed the value of the central bank's foreign investments.

www.reuters.com

 

[speedkills27]

but the central bank does not face bankruptcy thanks to its ability to create money.

WTF
is anyone paying attention?

 

[DoOver]

...create money.

 

[tirwin1]

A truly impressive amount. I wonder how much our central bank has lost.

 

[fresch]

Little math,
0 - 5= -5 not +5
I'm thinking of starting a bank, I will need to hand write each dollar. Looking for investors.

 

[MothMan]

0 - (-5) = 5

 

[fresch]

I stand corrected kinda.

 

[meketrefe]

they have a huge amount of gold and assets to backup whatever they. want to do.

 

[Acer-m14]

how to make your own Swiss Franc

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[spat]

...create money.

They can create currency, but not create value.

Essentially they inflate the currency as much as necessary to manage their debt. Instantly taxing anyone holding assets denominated in that currency.

"We owe a billion dollars, so we'll just print a billion. Then everyone who has dollars finds them worth $1B less overall".

People will put up with it as long as it doesn't get out of hand.

But push them too far, and you have a run on your currency and your entire economy melts down.

 

[FRANKIE]

Swiss accounts not safe now.
Mattress is best.

 

[spat]

Swiss accounts not safe now.
Mattress is best.

That's what inflation is for.

At 10% inflation, if you stick $6000 under your mattress today, you'll find it can only buy about $2000 worth of stuff in 10 years.

In this climate the way to evaluate an investment is "can it shrink any slower than that".