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Swiss National Bank’s Monetary Racket, US Stock Holdings & the Wild Ride of its Own Shares
Swiss National Bank’s Monetary Racket, US Stock Holdings & the Wild Ride of its Own Shares
We’ll also look at its garbage pile at the bottom. These folks don’t even pretend to be stock pickers. They buy and let it stick till it falls off on its own.
The Swiss National Bank, which filed its disclosure of US stock holdings today with the SEC, has figured out the best money racket of all times. It works because currency speculators are eagerly gobbling up Swiss francs. In January 2015, the SNB started to print Swiss francs ostensibly to depress the value of the CHF, a tiny currency with huge global demand. It then began selling those francs for dollars, euros, and other currencies to buy securities denominated in those currencies. This monetary racket only works as long as there is endless global demand for the tiny currency.
The SNB doesn’t disclose its holdings of securities. But in the US, it has to disclose its holdings of US-traded stocks via a quarterly 13F filing with the SEC. So we know what US-traded stocks it owns, but this is just a slice of the securities it owns globally.
In its 13F filing today, the SNB revealed that it held 2,520 US-traded stocks and American Depositary Receipts (ADRs) of foreign companies at the end of the third quarter, of about 3,500 stocks traded in the US. The value of these holdings rose 1.5% during the third quarter to a record of $94.1 billion.
Its portfolio is loaded up with the FANGMAN stocks – Facebook, Amazon, Nvidia, Microsoft, Alphabet, and Netflix – with Apple and Microsoft as its largest positions. It also holds a number of ADRs, including ADRs of Chinese companies, such was Weibo, Alibaba (16th largest holding), Baozun, ZTO Express Cayman, and Huazhu Group.
…click on the above link to read the rest of the article…
Systemic Corruption Has Destroyed America
Systemic Corruption Has Destroyed America
Preface: It’s been less than a month since we last posted on this topic … but, sadly, we’ve got many more examples.
The Cop Is On the Take
Government corruption has become rampant:
- Senior SEC employees spent up to 8 hours a day surfing porn sites instead of cracking down on financial crimes
- Nuclear Regulatory Commission workers watch porn instead of cracking down on unsafe conditions at nuclear plants
- An EPA employee who downloaded 7,000 porn files, then spent 2-6 hours each workdaywatching porn. He’s been doing it for years … but the EPA never fired him. Another EPA employee harassed 16 women co-workers … and then was promoted to a higher-paying jobwith more responsibility, where he harassed more women
- NSA spies pass around homemade sexual videos and pictures they’ve collected from spying on the American people
- NSA employees have also been caught using their mass surveillance powers to spy on love interests, such as girlfriends, obsessions or former wives … and to eavesdrop on American soldiers’ intimate conversations with their wives back home. And see this (“routinely shared salacious or tantalizing phone calls that had been intercepted” … “‘Hey, check this out … there’s good phone sex’”)
- An employee of the Transportation Security Administration admitted that TSA agents share – and laugh at – nude scans of passengers. Another TSA employee says that screeners make excuses so they can grope and fondle travelers that they’re attracted to (maybe that’s why the TSA failed to find mock explosives or banned weapons going through checkpoints in 95% of trials)
- Investigators from the Treasury’s Office of the Inspector General found that some of the regulator’s employees surfed erotic websites, hired prostitutes and accepted gifts from bank executives … instead of actually working to help the economy
…click on the above link to read the rest of the article…
