Swiss National Bank Facing Loss. Twitter Questions Still All Too Well?
Ramsha Naushad
March 20, 2023
The Swiss National Bank has reported an annual loss of $141.54 billion, which is the largest in the central bank's 115-year history.
They reported a loss of 132 billion Swiss francs ($143 billion) for 2022~18% of Switzerland’s projected GDP!
The central bank lost $147.3B on its foreign currency positions, and $1.1B was lost in Gold holdings.
This is the largest loss the bank sustained in 115 years.However, it doesn't face bankruptcy due to its ability to print money.
Just two days ago, Silicon Valley Bank’s parent company filed for bankruptcy.
Satoshi Club tweeted: "But we’re hearing again and again that everything is fine and under control. Let’s be serious, are there still people left on Twitter who continue to believe that?"
A Twitter user meanwhile: "We are witnessing “just the tip..I promise” on a global scale."