Swiss Vote on Gold

[Manonthestreet]

On November 30th, voters in Switzerland will head to the polls to vote in a referendum on gold. On the ballot is a measure to prohibit the Swiss National Bank (SNB) from further gold sales, to repatriate Swiss-owned gold to Switzerland, and to mandate that gold make up at least 20 percent of the SNB’s assets. All Eyes on the Swiss Gold Referendum - Daily Reckoning

 

[Manonthestreet]

Nov 15 (Reuters) - The Swiss National Bank repeated its opposition to a referendum on boosting gold reserves on Saturday, saying a yes-vote would put at risk its efforts to rein in the red-hot franc against the euro for as long as necessary. SNB says Swiss gold vote will hurt efforts to cap franc -paper Reuters

 

[TheOldSchool]

"All Eyes on the Swiss Gold Referendum?"

Ummm.... what? Who's eyes?

 

[Toro]

The Gold Bugs.

They've seen their religion, er, I mean, investment, go from $1921 to $1140, and they don't want it to crack $1000, as it inevitably will.

 

[Toro]

78% of Swiss citizens voted against the referendum proposal.

Swiss Voters Reject Increasing Gold Reserves In Referendum - Forbes

 

[Manonthestreet]

Yeah saw that....would have been nice to read some of the debate by the Swiss about this.... everyone run to the mall now ya hear.....

 

[Abishai100]

Gold & Gateways


People didn't really care about Swiss economics until Switzerland was able to streamline the international selling of high-line, big-fund private accounts.

When America made all kinds of federal policies abour silver, people took notice of how capitalism was being very well greased.

Imagine someone tells you, "I heard of an Internet hacker who was working on a program to hack into Swiss bank accounts." Oddly enough, it doesn't sound so odd.

It's stories like this that warrant that extra-special attention from modern American investors now that the European Union poses a serious competitive threat in the free market.

What is China doing with gold? Anybody know? I know they were making a push to make a competitive stand in the consumer toys industry (I guess to compete with Toys 'R Us). Just imagine if some Chinese toy company starts making a special line of battery-operated water-guns that begin selling like wildfire.

Switzerland's national economy does not seem well-coordinated enough ironically to be considered a serious EU diplomat in the international 'court of public opinion' (I heard that in a movie). Maybe this sort of publicized referendum changes that...