SNB implicitely obliges each Swiss to invest 73% of this year’s income into Euros [snbchf]


With the SNB results today it became clear that the Swiss National Bank has invested 77% of the huge 125 billion CHF rise in currency reserves during the second quarter into Euros. The dependency on the euro has become that big, so that the Swiss might be obliged to join the euro zone if they want to avoid big losses.

 

Our regular spreadsheet shows that the SNB implicitly forces each Swiss to invest 73% of his/her personal income for this year into euros, no matter if the person is employed, a pensioner or an infant. Other currencies take 48.7% of the yearly income, a total of nearly 112% of  the yearly income per capita. This figure was still in April a lot lower, namely 76% and in May 94%. The SNB currently obliges each Swiss to buy every week an average of 600 euros and 400 euros in other currencies, this compared with an weekly salary per capita of 656 EUR. Essentially the central bank forces each inhabitant to give her a loan financed with an overdraft in the people’s personal account.

SNB FX Reserves & Losses per capita

Read more

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 4,932 other followers

%d bloggers like this: