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. https://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?) https://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
