Forwarded from Geopolitics & Empire
#GoodTimesAroundTheCorner The Swiss National Bank reported a loss of 132 billion Swiss francs ($143 billion) in 2022. This represents *the largest loss* in the central bank’s 116-year history. https://www.cnbc.com/2023/01/09/swiss-national-bank-posts-record-143-billion-loss.html
CNBC
Swiss central bank posts biggest loss in its 116-year history
The central bank took a massive hit on its large pile of foreign currency holdings as the Swiss franc strengthened.