The Swiss National Bank (SNB) has gone from a central bank to a hedge fund, investing billions of dollars into the U.S. stock market.
And if SNB’s Thomas Jordan’s remarks are anything to go by, the central bank is going to scoop up more shares to help weaken the franc.
According to its balance sheet, here is what the SNB owns:
- Microsoft: $4.5 billion
- Apple: $4.4 billion
- Amazon: $3.2 billion
- Google: $2.7 billion
- Facebook: $1.6 billion
During the blood bath in March, the SNB added to its positions by 22 percent.
Although critics say the SNB could be setting itself up for disaster, the central bank is sitting on some incredible profits right now. Plus, the hedge fund, er, central bank has one of the world’s largest gold reserves with more than 1,000 tons.
But what would happen if there is another market crash? Does it just crank up the printing press?
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