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 Swiss Gold Referendum November 30 2014 
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 Swiss Gold Referendum November 30 2014
well now, this could upset an applecart or two... and to think that its happening in what was believed to be a nation which has one of the safest & soundest economies going!

Simon

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http://goldswitzerland.com/swiss-to-vote-on-gold-repatriation-in-november/

One of the very few remaining proper democracies in the world will vote on bringing the Swiss Gold back to Switzerland on November 30.

This is an initiative that could only happen in Switzerland. An influential member of parliament, Luzi Stamm, representing the biggest Swiss party SVP (Swiss People's Party) started this initiative with two other parliamentarians.

In order to have a national referendum on an issue in Switzerland, 100,000 supporting signatures are required. The Swiss Gold Initiative already achieved this requirement in early 2013.

Not only will the referendum deal with gold repatriation but also seeks to stop all gold sales by the SNB (Swiss National Bank) and to require the SNB to hold 20% of its assets in gold.

The Swiss Parliament and the SNB are against the initiative since it would stop their ability to freely print money. Swiss monetary policy used to be the soundest in the world, but in recent years Switzerland has joined other countries in abandoning a policy of sound money. Switzerland had 2,600 tons of gold in 1999 which was a significant amount in relation to the size of the country. At that time it was decided to sell 50% of the holding. Most of this was sold at the low of the market just like in the UK.

But not only did Switzerland dispose of half of their gold over ten years ago, but a major part of their remaining gold has either been leased out or sold. And some of the gold , if it is still there, is stored in other countries. As most other central banks, the SNB refuses to carry out a proper and official audit of the Swiss gold. Until an audit is done there is no certainty that all of the gold is still there.

Most governments and central banks officially dislike gold because it reveals the decline in the value of paper money. Since 1913 when the Fed in the USA was founded, all major currencies, including the Swiss Franc, have lost between 97% and 99% of their value against gold.

Voltaire said already in 1729: Paper money eventually returns to its intrinsic value - ZERO.

There is clearly not far to go for the major paper currencies to go to zero. Although SwitzerlandÂ’s economy is in better shape than many, the country has sadly followed the same destructive monetary policies as other countries in later years. This Swiss referendum is a very important initiative to fully restore confidence in the Swiss Franc and in Switzerland as one of the safest nations in the world. It is therefore critical that the Swiss people and the rest of the world is made aware of this initiative. If successful it could be the first step towards a new monetary system based on sound money rather than debt and money printing.

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Also of related interest...

http://news.goldseek.com/GoldSeek/1410731454.php

http://snbchf.com/gold/swiss-gold-referendum-2/

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Tue Sep 16, 2014 1:52 pm
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GT Truther
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Joined: Mon Oct 12, 2009 7:54 am
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Location: London
Post Re: Swiss Gold Referendum November 30 2014
Gold, Swiss franc fall after Swiss referendum.

Quote:
Gold prices fell the most in more than three weeks and the Swiss franc dipped slightly on Monday after Swiss voters overwhelmingly rejected proposals to boost gold reserves in a referendum.

Read More:
http://www.reuters.com/article/2014/11/30/us-markets-global-idUSKCN0JE0ZO20141130

Also see:
Swiss Gold Referendum Fails: 78% Vote Against "Protecting The Country's Wealth"

http://www.zerohedge.com/news/2014-11-30/swiss-gold-referendum-fails-78-vote-against-protecting-countrys-wealth

Quote:
Whether as a result of an unprecedented scare campaign by the Swiss National Bank (most recently reinforced by Citigroup), or due to confidence that Swiss gold is as safe abroad as it is at home, or simply due to good old-fashioned "hanging chads", today's most awaited event has come and gone and the result - according to early projections by Swiss television SRF - is that the Swiss population overwhelmingly rejected a referendum to force the Swiss National Bank to hold some 20% of its reserves in gold in a landslide vote, with about 78% voting against what AP politely termed "protecting the country's wealth by investing in gold."


Although the "yes" camp was initially in the lead, heavy "no" campaigning by the Swiss National Bank plus others won out.

Simon

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Mon Dec 01, 2014 4:00 am
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