I just got this in my email:
The people I talk to here in Zürich are, at best, hopeful that the answer is no. They know that such a plan will cause a world of hurt to the Swiss economy and will hamstring the Swiss central bank and its efforts at managing the franc. They all say confidently that the majority of Swiss voters understand this and will veto the plan.
But you can clearly hear in their tone that worry tints their words. The polls are close. And they know that the Swiss feel their economy is too often manipulated by what happens with the euro and the dollar — and the Swiss are people with a deep independence streak.
Thus, there’s a better-than-good chance that Swiss voters shock the monetary world this weekend with a vote that signals the beginning of the end for modern fiat currencies. That will ripple through our world here in the States. But there are ways to prepare …
Anyone who knows any thing about Switzerland think this it's even a remote possibility?
Personally I hope they do it, I hope they go for it.. they could and if so they may not be alone in the future (if China do something similar) however, independence streak or not, I believe that the Swiss are also deeply conservative when it comes to change and especially when the change has to do with money, therefore I am afraid they will more likely vote against such a move though I hope that in fact they vote for it, I have a feeling they shall not.
If they realised that they were not in fact a real country but a private bank, they might care more about their solvency. Someone should probably tell them ...
20% of their dollar back by gold, with banks operating at 5% fractional gold reserves.
whats the point?
Paper Gold will dump hard again when news of the 'no' vote hits