Swiss vote on backing currency with gold

[motorbikez]

On the 30th of Nov the Swiss public get a chance to vote on partially backing their currency with gold. What if any, do you think the implications are for the price of gold.

 

Anyone not aware of the vote this link provides an insight to what's coming up in Switzerland. 

 

 

 

 

 

http://moneyweek.com/money-morning-gold-price-could-benefit-from-swiss-vote/

[Cointreau]

On the 20th of Nov the Swiss public get a chance to vote on partially backing their currency with gold. What if any, do you think the implications are for the price of gold.

 

Anyone not aware of the vote this link provides an insight to what's coming up in Switzerland. 

 

 

 

 

 

http://moneyweek.com/money-morning-gold-price-could-benefit-from-swiss-vote/

The Swiss might have to buy 1500 tons of gold over three years.

Then you could have copy cat movements and other countries beef up their gold reserves.

[HighlandTiger]

Why don't the swiss banks  do what they've done for hundreds of years. Just nick the gold out of the accounts of their customers.

[HelpingHands]

I think we've linked this elsewhere but it sounds like we shouldn't get our hopes up. The public are being told by politicians and the media that it would be a bad move.

[motorbikez]

HH it hasn't been linked elsewhere, I commented on it in another thread about a month ago, but I think this is a fairly important vote.

[Paul]

 

Egon Von Greyerz, who runs GoldSwitzerland  gives his insights & opinions on the coming gold backing

obviosuly a little biased towards the pro-gold as he stands to benefit from it.

 

But an opinion is an opinion and he gives insights to the swiss people

[motorbikez]

Slightly boring orator but gives a good overall picture of the Swiss referendum and what may or may not happen afterwards.

[motorbikez]

Its getting closer to the vote, anyone think there is any correlation in this weeks up tick in gold.

[garthy]

At the moment it looks like a no vote, 47% no, 15% undecided and 38% yes, they need over 50% yes to pass it , apparently the media have been very anti the idea, surprise surprise.  

 

Something's holding the gold price up, back to $1200 today when a lot of people including some full on gold bugs were saying we're heading to $1000, negative sentiment can sometimes pull a price down but it looks as though it's holding up.

[Luker2]

http://www.visualcapitalist.com/everything-need-know-swiss-gold-referendum/

[Shamatti]

I can't believe they would vote no!! I mean really, that would be as mad as Scotland voting against their own freedom....... oh hang on......

[HelpingHands]

Maybe there is more preference for the universal basic wage. Such a thing would probably need a monetary policy with room for manoeuvre that the pro gold vote may not allow.

It's just my first thought but I haven't been following either vote.

http://www.bbc.co.uk/news/business-25415501

Do you want gold when you can have beer? 'That system of direct democracy means the Swiss could vote for free beer if they wanted to.'

[silversword]

I can't believe they would vote no!! I mean really, that would be as mad as Scotland voting against their own freedom....... oh hang on......

 

The Scots voted to carry on leeching cash from England rather than trust a self-serving toad. Makes perfect sense.

 

The choice to back your currency with gold only makes sense if you understand the rationale behind it and most people don't. Plus there are actually valid reasons for not doing it.

[zmurrro]

@silversword: can you give any? thx

[garthy]

If the this referendum is passed it will mean.

 

The Swiss national bank must hold 20% of all assets as gold, 

Also they will recall their gold that's held abroad, that should be interesting.

And lastly they will no longer be able to sell any of their gold in the future.

 

The only bad thing I can see is that the banks will no longer be able to lend into oblivion, house prices would fall and people won't be so heavily indebted to the system, after all houses are only worth what the banks will lend.

 

I personally think this would be an amazing move but obviously something their government and banks would hate, it means they would have to be far more responsible.  

[Pipers]

I have friends who live in Switzerland, when I asked them about 3 weeks ago, they said they were going to vote NO because it was in the news and Papers that a Yes vote would be bad for the Economy and they might lose there jobs.  

 

I think the Corporate machine is at work on the Swiss 

[Shamatti]

I have friends who live in Switzerland, when I asked them about 3 weeks ago, they said they were going to vote NO because it was in the news and Papers that a Yes vote would be bad for the Economy and they might lose there jobs.  

 

I think the Corporate machine is at work on the Swiss 

 

The corporate machine! lol Damn bally right.

 

Vote the way we want you to or something terrible will happen.

 

Standard practice. There are enough idiots available in every country to fall for it.

 

This is why we cant have nice things.

[motorbikez]

 

 

I think the Corporate machine is at work on the Swiss 

 

No surprise there then,I hope the Swiss people kick their government and the corporate machine in the teeth and vote yes.

[Fluttershy]

it`s not exactly Mainstream news (maybe unimportant or needed to be kept quiet?) but haven`t the Dutch just taken delivery of their Gold a few days ago?

maybe this will help the Swiss decide to do the same as well!

 

although I do wonder what the Germans must think about it, when afterall they DID ask first only to be told No, it`ll take about 7 years.

and the Dutch ask and get theirs right away!

[Magritte]

I must say Fluttershy it is interesting what you said about the Dutch. I see the Chinese, Russians and especially the Indians have been buying gold and silver in ever larger quantities and yet where have the gold reserves of the UK and USA gone ?

[Pipers]

https://www.bullionstar.com/blog/koos-jansen/the-netherlands-has-repatriated-122-5t-gold-from-us/

 

This is the story, though one may think Ukraine's Gold made up part of Holland's Gold Delivery.  If you don't know Ukraine's Gold 42 tonnes has gone missing since the revolution, when the US 'helped' the rights take power.  

[Paul]

Egon von Greyerz, James Turk & Luzi Stamm

 

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2014/11/22_Egon_von_Greyerz,_James_Turk_&_Luzi_Stamm_files/Luzi%20Stamm,%20James%20Turk,%20Egon%20von%20Greyerz%2011%3A22%3A2014_1.mp3

 

Interview from the always pro-gold kingworldnews about the upcoming Swiss gold vote

 

Luzi Stamm - Chief Architect Swiss Gold Initiative & Swiss VP & - One of seven vice-presidents of the SVP Switzerland. In the national elections in 2007 he was re-elected with 76,569 votes, the second best result of the canton. From 2003 to 2007, Luzi Stamm member of the parliamentary delegation of Switzerland during Euro Europe. The conversion to the SVP took place in 2001. In 1991 he was for the FDP in the National Council elected. The City Council has held office as Master from 1990 until his election in 1991, when he resigned as Grand Council.

 

also includes interviews with James Turk and Egon & Egon von Greyerz, who most of us are aware of & their relevant companies 

[Keithoil]

Not only the Swiss referendum on gold on the 30.11.14, but at the end of next week the USA announces its monthly jobs report on Friday.

 

We will just have to wait and watch...

 

http://www.forbes.com/sites/kitconews/2014/11/28/gold-to-start-week-with-swiss-referendum-end-with-u-s-payrolls/

[Pipers]

I think you are right Keith:

If the Swiss have a No vote,

 USA monthly jobs figures are good,

 

I believe we are looking at a down turn in the price of Gold and Silver.  Esp after the oil price falling.   

[Dave]

Not looking good.

www.swissinfo.ch/eng/multimedia/vote-results-30.11-2014/41134608