| John Rubino and Patrick Highsmith of Firefox Gold return as guests on this week’s program. The Swiss National Bank (SNB) loaded up on some of the largest cap stocks in the world like MSFT, GOOG, AMZN, TSLA, XOM and many more in order to weaken the Swiss francs vis-a-vis the Euro and the Dollar. But these purchases have now resulted in a 132 billion Swiss francs loss in 2022, the biggest annual loss in the SNB’s history. The total amount of “Foreign currency investments” on its balance sheet, including its U.S. stock holdings, by the end of December 2022 had plunged by 176 billion CHF, or 18%, to CHF 801 billion from the peak in February 2022, the lowest since October 2019 and just a hair above December 2017. But the SNB is not alone.
The Fed, the European Central Bank and the BOJ all have seen their net worth positions head to negative territory as the bonds they bought to manipulate interest rates lower and pump artificial buying into economies are now underwater as interest rates rise. Should these losses matter to the average investor? What ramifications might this turn of events have on money markets and the global economy? Banks of nations friendly to the western alliance generally have engaged in QE while banks considered hostile to the NATO alliance have been stocking up big time on gold as those countries desire to detach themselves from the dollar. What is there to be learned by the average investor from the way central banks are allocating resources? We will ask John opines.
Firefox Gold Corp has had some fantastic drill results on its Finland project in its early 2022 drill program portending for some exciting upside potential from the company’s current 10 cents share price. We talk to Patrick Highsmith about what potential share price catalysts might be expected in 2023. | 