The Outcry in Left-Circle Circles is Great. It is January, the news pit is deep and while hardly anyone is interested in the succession of Viola Amherd, left media suddenly discover a new scandal theme: the interim report of the SNB on its stock holdings.
However, it is not about the SNB losing billions in the recent Nvidia crash, nor is it about its stakes in the largest US weapons and defense companies or cannabis producers.
“No idea of botany” – Swiss economic journalists are blaming themselves: no clue about the SNB’s stock portfolio. Printscreen 20min
No – the outcry is about a relatively small investment: the Swiss National Bank (SNB) has acquired shares in the Trump Media & Technology Group worth $1.78 million.
Left media and activists are storming and warning of national security risks and interest conflicts. However, this outcry shows mainly one thing: many critics have not understood how the SNB operates on the market.
A Rational Investment Strategy
The SNB follows no political agenda. It acts on clear principles: diversification and investment in liquid, well-capitalized shares that are represented in relevant indices. If Trump Media appears in one of these indices, it will be bought – just like shares in Apple, Microsoft, weapons manufacturers, or cannabis companies.
Panic of the Day: Apparently, it lacks the fundamental understanding of the Swiss National Bank’s functioning. Printscreen TagesAnzeiger
The fact that the SNB also invests in controversial branches is no news. Already in 2018, it was known that the bank held stakes in Canopy Growth, a leading cannabis industry company. Even defense companies or technology conglomerates with questionable data protection records found themselves in the National Bank’s portfolio.
Left Media on the Barricades
The outcry over Trump shares shows how much the name Trump reflexively sparks outrage. Left media warn of geopolitical consequences and claim that foreign investors could financially strengthen Donald Trump through share purchases. However, this logic could be applied to any company – from Tesla to Pfizer to Alphabet.
Moreover, the SNB’s investment in Trump Media is absolutely marginal. $1.78 million makes no rounding error in the context of the over $900 billion strong SNB portfolio. For comparison, the Zurich Cantonal Bank (ZKB) has invested only $237,000. Yet, the case is blown up as if the Swiss government had officially taken a position for Trump.
The Role of the SNB Understood
The SNB has no interest in political influence. Its central tasks are the stabilization of the franc and the securing of economic stability. This means it manages a diversified portfolio. There are clear exclusion criteria: companies involved in embargoed weapons or severe human rights violations are avoided. Trump Media does not fall into this category.
Where were the left media when it came to Nancy Pelosi’s share purchases?
Nancy Pelosi, one of the most prominent democratic politicians in the US, has been known for her extremely successful stock trades since years. Together with her husband Paul Pelosi, she has made millions with investments in technology companies like Apple, Microsoft, Tesla and Nvidia – often in sync with political decisions that benefited these branches. However, while left media quickly stir up outrage about other issues, it remains surprisingly quiet when it comes to Pelosi’s stock activities.
The question presses on: Why is it not reported with the same vehemence as in other alleged scandals? Pelosi’s transactions raise ethical and legal questions. The suspicion that she profits from insider knowledge is plausible – after all, as a member of Congress, she has access to sensitive political and economic information. However, instead of critical reporting, there is often silence or even whitewashing.
While left media immediately sound the alarm about politicians like Trump and every small investment is presented as a scandal, Pelosi’s stock trading is often dismissed as “private investment.” However, the sums involved are far from trivial. In 2021, the Pelosis were praised for their stock gains, while at the same time, demands for stricter rules for congressional members’ stock trading were being made – demands that many left media only half-heartedly supported.
The Double Standard is Obvious: While one takes every opportunity to stir up outrage about political opponents, the own ranks are spared. Pelosi’s stock trades are a paradigm of how political influence and personal enrichment can go hand in hand. However, as long as left media turn a blind eye, nothing will change.