Swiss Vote on Gold repatriation | Bitcointalksearch.org

lunarboy

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Quote from: countryfree on October 09, 2014, 04:53:13 PM

Check your sources. The popular vote on November 30th isn't about reinstating some kind of a gold standard at all. It's about bringing back to Switzerland some gold which is stored in foreign countries, and mandating the Swiss National Bank to keep 20% of its assets in gold (7.6% now). Comparing with the US or most countries doesn't work, as Switzerland has very little debt. Switzerland doesn't print money like the US, even if some Swiss wish it would, because the biggest problem there is how to stop the Swiss franc from getting more valuable, which hurts exports. I'm old enough to remember the days when one US dollar was buying 3 Swiss francs, check what it's worth now.

The Swiss I know are against the gold initiative because gold investments are much less lucrative than the stock market.

interesting article on the subject

http://soberlook.com/2014/10/the-save-our-swiss-gold-initiative-is.html

also you statement 'Switzerland doesn't print money' is flat out wrong

http://research.stlouisfed.org/fred2/series/SNBMONTBASE where did all this come from?

I'd love to hear from actual swiss residents on this as I subject, it will be very interesting to follow the debate. suspects mass propaganda from the banks against the idea.

galbros

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The Swiss already have a very strong currency, especially in comparison to the Euro, so I don't see this being a major issue one way or the other. In many ways they may actually want a stronger currency and therefore relax their gold coverage further if they think that is keeping the franc strong.

bigtimespaghetti

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Quote from: Kluge on October 11, 2014, 09:10:44 AM

Quote from: countryfree on October 09, 2014, 04:53:13 PM

Check your sources. The popular vote on November 30th isn't about reinstating some kind of a gold standard at all. It's about bringing back to Switzerland some gold which is stored in foreign countries, and mandating the Swiss National Bank to keep 20% of its assets in gold (7.6% now). Comparing with the US or most countries doesn't work, as Switzerland has very little debt. Switzerland doesn't print money like the US, even if some Swiss wish it would, because the biggest problem there is how to stop the Swiss franc from getting more valuable, which hurts exports. I'm old enough to remember the days when one US dollar was buying 3 Swiss francs, check what it's worth now.

The Swiss I know are against the gold initiative because gold investments are much less lucrative than the stock market.

You know, I'm so cynical now, I see a government trying to mandate banks keep gold in reserve (or a gold-backed currency) as crony capitalism looking to pump the gold market for politicians' & "business leaders'" gain. I guess any possible action looks like crony capitalism if you think long enough.

As far as I understand it, it is being largely driven by a single politician, but I can't recall the details.

I don't think that banks need governments to pump the PM price - the ETFs have done a marvellous job of that since they were created.

But yes, always suspicious of any government initiative! :-)

Kluge

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Quote from: countryfree on October 09, 2014, 04:53:13 PM

Check your sources. The popular vote on November 30th isn't about reinstating some kind of a gold standard at all. It's about bringing back to Switzerland some gold which is stored in foreign countries, and mandating the Swiss National Bank to keep 20% of its assets in gold (7.6% now). Comparing with the US or most countries doesn't work, as Switzerland has very little debt. Switzerland doesn't print money like the US, even if some Swiss wish it would, because the biggest problem there is how to stop the Swiss franc from getting more valuable, which hurts exports. I'm old enough to remember the days when one US dollar was buying 3 Swiss francs, check what it's worth now.

The Swiss I know are against the gold initiative because gold investments are much less lucrative than the stock market.

You know, I'm so cynical now, I see a government trying to mandate banks keep gold in reserve (or a gold-backed currency) as crony capitalism looking to pump the gold market for politicians' & "business leaders'" gain. I guess any possible action looks like crony capitalism if you think long enough.

LiteCoinGuy

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In Satoshi I Trust

eine beneidenswerte demokratie.

bigtimespaghetti

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Quote from: countryfree on October 09, 2014, 04:53:13 PM

Check your sources. The popular vote on November 30th isn't about reinstating some kind of a gold standard at all. It's about bringing back to Switzerland some gold which is stored in foreign countries, and mandating the Swiss National Bank to keep 20% of its assets in gold (7.6% now). Comparing with the US or most countries doesn't work, as Switzerland has very little debt. Switzerland doesn't print money like the US, even if some Swiss wish it would, because the biggest problem there is how to stop the Swiss franc from getting more valuable, which hurts exports. I'm old enough to remember the days when one US dollar was buying 3 Swiss francs, check what it's worth now.

The Swiss I know are against the gold initiative because gold investments are much less lucrative than the stock market.

Post updated to reflect my initial mistakes.

DhaniBoy

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swiss positioned country store just as the state money and valuables from other countries, items such as gold, gems, diamonds, etc.. for Swiss economic growth rate is pretty good compared to other European countries, the Swiss bank known for its safety in storing money and valuables .... Cool

countryfree

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Your country may be your worst enemy

Check your sources. The popular vote on November 30th isn't about reinstating some kind of a gold standard at all. It's about bringing back to Switzerland some gold which is stored in foreign countries, and mandating the Swiss National Bank to keep 20% of its assets in gold (7.6% now). Comparing with the US or most countries doesn't work, as Switzerland has very little debt. Switzerland doesn't print money like the US, even if some Swiss wish it would, because the biggest problem there is how to stop the Swiss franc from getting more valuable, which hurts exports. I'm old enough to remember the days when one US dollar was buying 3 Swiss francs, check what it's worth now.

The Swiss I know are against the gold initiative because gold investments are much less lucrative than the stock market.

bigtimespaghetti

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Quote from: Wilhelm on October 09, 2014, 02:29:56 PM

I'm not Swiss but I would vote YES!! since your government cannot rape you by printing more money.
Printing money is a temporary fix that will come back to haunt you.

The only problem I see with Switzerland is that they are weakening their bank secrecy position which could hurt their money inflow.

Of course many of us would vote in favour (if we would vote at all) , if only to limit rapacious government spending. But common sense has the whole propaganda machine pitted against it. Which is why I'm interested in some anecdotes from some Swiss individuals.
I'm not certain that their bank secrecy will hold up in any case with the global push to hunt down taxable capital.

Wilhelm

legendary

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I'm not Swiss but I would vote YES!! since your government cannot rape you by printing more money.
Printing money is a temporary fix that will come back to haunt you.

The only problem I see with Switzerland is that they are weakening their bank secrecy position which could hurt their money inflow.

bigtimespaghetti

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Any Swiss folks on here?

I'm very interested in the public sentiment regarding this vote in Switzerland. So please chime in on this.

As I understand it, Switzerland has an admirable society in comparison to much of the west ~~and I find the concept of a gold standard in these times fascinating, if somewhat unlikely~~.

Am I too cynical or is there a real public push towards ~~sounder currency~~ repatriation in Switzerland?

Topic: Swiss Vote on Gold repatriation (Read 2379 times)