One of the trades that was said to be blessed by the SNB’s auditors was a sale of CHF 1.1 mln after the sale of a piece of real estate by the Hildbrands.
On Aug. 15, Kashya Hildebrand spent 400,000 francs to buy $504,000 without informing her husband first. He was only told of the transaction on the following day and instructed Bank Sarasin only to act on his orders in future, according to the report. In March, he had carried out a currency transaction worth 1.1 million francs, following a Swiss property sale.
If the Chairman of the Swiss National Bank was selling a Swiss piece of property, presumably he was selling CHF 1.1 mln CHF. Why the hell is that? He lives in Switzerland. He’s presumably paid in CHF. Why would he transact a currency trade when selling property? Very odd, indeed. Someone should ask him about it at the press conference tomorrow…
