The SVP Gold Initiative

Launched in September of 2011, it has finally reached the requisite number of signatures.

The "Gold Initiative" in Switzerland was started by the Swiss People's Party (SVP). Research I've done describes this as a "right wing" political group. This seems a bit strange as most groups called "people's" party are invariably socialist or, at a minimum, left-leaning. Additionally, some reports indicate that the SVP is the largest party in the Swiss National Council. Perhaps there are some Swiss Turdites out there who could shed some light on all of this.

Regardless of the politics, the entire episode is interesting. The movement began in September 2011, about two weeks after the Swiss National Bank took the unprecedented step of pegging the Franc to the Euro. (Astute readers will recall that this SNB action also began the protracted price correction that continues to this day.) Below is the English language version of the original initiative.

Goldinitiative English by Turd Ferguson

What has followed is nearly 18 months of grass roots campaigning that has finally netted the 100,000 signatures necessary to force a national referendum. Of course, some media have already spun this as a quixotic attempt that will ultimately fail to gain the necessary votes to pass. http://news.yahoo.com/swiss-wing-forces-referendum-banning-snb-gold-sales-174344976--business.html

Others don't seem so sure, like this article from centralbanking.com (Did you even know there was such a place? And who reads this site? The Bernank and his Goons?) http://www.centralbanking.com/central-banking/news/2256709/swiss-national-bank-faces-referendum-over-gold-sales

Regardless of the coverage, this still rates as a very interesting development. Given the situation in Cyprus and the attendant and pending failures of confidence throughout the Continent, perhaps this initiative will find more popular support than the pundits predict. And what if it passes? Then what?? Needless to say, this is something we are definitely going to keep close tabs on going forward.

TF


 

80 Comments

Fat Willie's picture

First?

Yes?

Turd Ferguson's picture

So the TV network filmed

MODERATOR

So the TV network filmed 4 years ago but only received the "security cleared" video last week after the signatures were filed? Sounds to me like a desperate attempt at PR from the SNB.

(Great video of gold bars, though!)

kingboo's picture

THURD...

THURD TURD

DollarMenu2's picture

Thanks...

Thank you TF for all you so freely share with us.

luv2stak's picture

THIRD! (or NOT!)

WOW!

Each time I hit Top Ten (WHY is it so exciting??!), I feel it is a Point Of Honor to Feed The Turd.

(Even a little.)

In APPRECIATION, and for the 'ethereal hand-holding...'

Hope Mrs. T is feeling chipper again with 100 % Good News!

silver66's picture

4th

great info

Silver66

edit----- turns into 6th, but still top 10

lakedweller2's picture

Made It

Somewhere near the top 10 but delayed by the log in.

BIGNASTY's picture

eight?????? Top Ten yeah

eight?????? Top Ten yeah

achmachat's picture

huh?

so weird... both are talking German with a heavy French accent.

Mudsharkbytes's picture

Nine or Ten?

I've lost count.

department of truth's picture

the final naked short cometh

The charts have been set  up for the Big Drop, soon to come.  No surprise here, given the extent of the short positions and the endless unchecked criminal activity designed to prop up the US dollar and markets, while holding down precious metals.

Here's the thing . . . eventually as prices drop, the corresponding rush to accumulate physical metal will dry up supplies to the point where NONE will be available.

Thus the ultimate divergence will occur, that will trigger the default of the COMEX and a corresponding skyrocketing price of physical metal.  Probably at about the time when the US dollar loses its global reserve status, the US government defaults on its debt, and all that ammo that Homeland Security has been stockpiling gets put to use . . . .

cpnscarlet's picture

DOT - And your timeline is?

...big drop, accumulation, COMEX default, to the moon....

I think we've heard this before and we know the script. If you're going to repeat the obvious and oft-repeated, at least entertain us with 1) seminal event and 2) timeline. Then those of us who have been here since just about Day 1 will say, "Wow, something new!"

Even though it will probably be wrong. Just whining...pardon me.

Bollocks's picture

xty

It's a "laundrette" not a "laundromat"

oh, and "aluminium" not "aluminum"
"barrister" not "attorney" (CAL needs to take note)
"biscuit" not "cookie" (what ON EARTH is a cookie? Jeez)
"dustbin" not "trash can" (It's not a CAN is it? Ye gods.)
"car park" not "parking lot" (Do you have "parking less" there too?)
"postcode" not "zip code" (a zip is something you do clothes up with, for god's sake)
"autumn" not "fall" (shocking!)

Oh, and being 'economical' with the spelling..

"flavour" not "flavor"
"labour" not "labor"
"colour" not "color"

and then there's the 'z' s

"realise" not "realize"
"organise" not "organize"
"recognise" not "recognize"

Bysantium needs sorting out too. And he's from the UK!

Well, I could go on for ever.

Sort it out.

Just A Regular Guy's picture

@Bollocks

Hehe, I haven't read the other thread, but yea I get your gist. You cunny funt you.

Byzantium's picture

@ Bollocks

steady on, there are some zeds in the English language. (Zee's for our US friends). Don't tell me Zed's dead?

zeroexperience's picture

SVP

I am not swiss, will have to wait several years for this, but live in Switzerland since a couple of years. My personal opinion of the SVP (and in French speaking Switzerland UDC: Union Democratique du Centre) it's one of the very few real conservative parties left in Europe, the media here like in the rest of Europe are very much on the left of the spectrum and tend to put a "right wing" sticker on anything that is right of the middle. 

It's conservative and nationalist in that it wants to conserve the swiss way of life and go back to a more controled immigration (don't forget that around 20% of the population living in CH is NOT swiss). It doesn't advocate to throw out every non swiss, but supported the initiative (which was accepted by the Swiss people and Cantons) to force convicted criminals back to their home country as well as the initiative to forbid the construction of minarets in Switzerland. From the economic point of view it's more on the less government side than on the more government side. Originally they were catering to the farmers who are conservative and mostly small entities (no large farms here) wanting to be kept alone, running their farm. 

They are for sure not politically correct ;)

dropout's picture

ATTENTION CANADIANS

YOU ARE IN DANGER OF "BAIL-IN"

Economic Action Plan 2013 (Canada's new budget tabled in House of Commons)  

Under the heading; "Establishing a risk management framework for domestic systemically important banks." In other words, the too big to fail or jail!

Pages #144 & #145

http://www.budget.gc.ca/2013/doc/plan/budget2013-eng.pdf

Exactly this same thing is happening in Cyprus right now - bank account theft.

Boswell's picture

In Los Angeles...

"It's a "laundrette" not a "laundromat""

It's a "Lavanderia"! ;-)

Update: http://en.wikipedia.org/wiki/Self-service_laundry

"FIRST!" Laundromat in Philadelphia that opened in 1947

Later... The first UK launderette (alternative spelling: "laundrette") was opened on 9 May 1949

It's a Contraction of Laundry + Automat 

​See: http://en.wikipedia.org/wiki/Automat

Turd Ferguson's picture

Thanks for that

MODERATOR

A solid, boots-on-the-ground report.

Oh those hideous right-wingers and their dastardly ideas like deporting convicted criminal illegal aliens. Good to know that there are at least a handful of sensible people left on the Continent of Europe.

Response to: SVP
tmosley's picture

To expound on Bollocks

To expound on Bollocks comment:

It's velocarriage, not automobile.

It's flig-flag leafies, not tea.

It's foot-boards, not sandals.

It's diopticals, not glasses.

It's fizzy bread water, not beer.

It's seeby-weebies, not windows.

It's jolly longjumpers, not frogs.

It's slappy net-ball, not tennis.

It's spotty spot shimwhammers, not cheetahs.

It's gobby plank swingers, not doorknobs.

And finally, they are clinky-swinks, not gold coins.

Bollocks's picture

Zed's Dead

And it's "motorcycle" NOT "chopper"

(ps - I have a z in my surname. Bugger.)

tmosley - That's hilarious! yes.

 

twolfe81's picture

RE: Attention Canadians

A million hat tricks from this Canuck too...I read it and it was just too Twilight Zone'ish!  (wish I had a good link to a Rod Sirling classic)...here it is in the raw for interested readers from Page 144 of the Government of Canada  2013 budget:

"The Government proposes to implement a bail-in regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital, the bank can be recapitalized and re
turned to viability through the very rapid conversion of certain bank liabilities into regulatory capital. This will reduce risks for taxpayers. The Government will consult stakeholders on how best to implement a bail-in regime in Canada Implementation timelines will allow for a smooth transition for affected institutions, investors and other market participants."

Another TF Metals "you heard it first here!"...I've already blasted this to all the commentators of news shows and opposition members of government within 30 minutes of reading it, that's how much it got my dander up!

ballyale's picture

Now I know I've entered in Alice in Wonderland territory

when I completely agree with the former Ass't.  Treas. Sec. under Reagan.

Great interview.

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2013/3/24_Dr._Paul_Craig_Roberts_files/Dr. Paul Craig Roberts 3:24:2013.mp3

ballyale's picture

Cyprus reopens banks, under strict restrictions

http://ca.finance.yahoo.com/news/cyprus-readies-capital-controls-avert-bank-run-090603283--finance.html

Snippet:

NICOSIA (Reuters) - Cypriots are expected to descend in their thousands on Thursday on banks, which reopen with tight controls imposed on transactions to prevent fleeing depositors from cleaning out the vaults in a catastrophic bank run.
------------------------------
Well, if you thought today's silver er tradng was volatile, what's
going to happen tomorrow.

It's kinda like a kid who can't wait for Christmas the night before, except
one doesn't know if it's going to Santa or the Grinch who actully arrives.

Bally.

That_1_Guy's picture

The Dollar Failing as Reserve Currency? C'mon....Really?

First let me say how grateful I am for all of your insights and discussion as a group. Thanks for providing the space TURD. Theres something awesome about a bunch of people expressing their opinions without that opinion having to be "right". I am also thankful that these stupid plantation scripts can still buy real things. I am thankful that I get to witness one of the greatest events in human history...live.

For me the USD is dead, as the reserve currency status is already compromised.

I knew it before ..but this last November sealed the deal in my mind.

http://www.atimes.com/atimes/Global_Economy/NK27Dj02.html

You have Saudia Arabia trading oil out of the USD with Britain. Another example.

OPEC buyers remorse...aught to be interesting who they side with. My moneys with Russia and China.

BRICS looking to create competition to SWIFT and IMF.... uhhh?

The lights are on....the Booze is gone.....the chicks are gone....and most people are still looking for another drink.

Good news.......is theres an after party...but you got to have the right ticket.

THIS PARTYS OVER!

GUY

(Hint: The Tickets Not Paper)

TURD.. Please Send Deep Purple Haze an invitation back...hes butt hurt. But hes cool. :) We are all stressed.

billhilly's picture

Ancient relic...

Sure is alot of security and secrecy for just some "ancient relics".

Antony von Clearwell's picture

top 50...

..so much for the IQ thing! cheeky

ErikSven's picture

Junior miner blog

Turdites and fellow bugs,

I've got a small junior miner blog going, if anyone's interested, have a peek.

http://miningmuppet.blogspot.com

Cheers!

ErikSven

SilverTree's picture

FROM JS

My Dear Extended Family,  
 
Courtesy of KingWorldNews.com
 
Things are happening very fast. I will announce one or two meetings shortly in Toronto for both corporate and reader related Q&A.
 
It is glaringly apparent that there is a strong move on to scare big money out of the banks that are trusted by the establishment and are "Too Big to Fail." Cash has been hoarded in these banks which does the bank nor the economy any good. This initiative, like most government plans, is absolutely sure to backfire hard.
 
There are two things to do immediately:
1. Get your money out of the "Too Big To Fails."
2. Increase your gold position.
 
Respectfully yours,
Jim
 
The official 2013 Canadian budget contains an explicit provision that Canada will pursue the bail-in model for systemically important banks for future bank failures!  
 
Titled ECONOMIC ACTION PLAN 2013
 
From Plan 2013 Page 144: (pg 154 of pdf)
"The Government also recognizes the need to manage the risks associated with systemically important banks-those banks whose distress or failure could cause a disruption to the financial system and, in turn, negative impacts on the economy. This requires strong prudential oversight and a robust set of options for resolving these institutions without the use of taxpayer funds, in the unlikely event that one becomes non-viable."
 
From Plan 2013 Page 145: (pg 155 of pdf)
The Government proposes to implement a bail-in regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital, the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital.
 
This will reduce risks for taxpayers. The Government will consult stakeholders on how best to implement a bail-in regime in Canada. Implementation timelines will allow for a smooth transition for affected institutions, investors and other market participants...
 
This risk management framework will limit the unfair advantage that could be gained by Canada's systemically important banks through the mistaken belief by investors and other market participants that these institutions are "too big to fail".
 

http://r20.rs6.net/tn.jsp?e=001aTZeYkjtetX_mRBnGxtGGGqOxgKMeOgxPzM2j8pCHgx_aRaKrs2BTxqkRC7jL24L4h61Wlk58xvOLf9W8yDem4iXGFhdv0P5HjB0NWo86UaBvhMeSt6ktRt6gVEHOVJ6WKOLRotSOoWYwacIaORn4Yj2X-WoNrF6C_Yc5Mc43v4=

Rhinestone Cowboy's picture

Bitcoin Backwardation?

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