Date of Swiss Gold Initiative Vote Inches Closer

64
Fri, Oct 10, 2014 - 12:52pm

Will November 30, 2014 be a seminal day in the fight to return the world to a system of sound money? Maybe. But only if the good people of Switzerland ignore their devious central bankers and sycophant media.

Regular readers of this site know that we've been all over this story for months. As the date of the Swiss national referendum approaches, you can be assured that many more updates will follow. For today, just a recap.

To begin with, please read this: https://www.tfmetalsreport.com/blog/5731/turdville-love-open-letter-good...

Then follow that up with this: https://www.tfmetalsreport.com/blog/6065/swiss-gold-initiative

Why am I bringing this up again today? Because earlier this week, the Swiss National Bank (SNB) put out an opinion piece that was clearly designed to frighten the Swiss people into voting "NO" on The Initiative. You can read the entire missive by clicking this link but the "conclusion" is reprinted below: https://www.snb.ch/en/mmr/speeches/id/ref_20141009_jpd/source/ref_201410...

"History is a great teacher. And central banks must learn from its critical episodes. The recent crisis is such an episode and is thus an exceptional learning opportunity.

Central banks were active in managing the crisis with both conventional and unconventional tools. Their efforts played a major role in preventing the collapse of the financial system in the early days of the crisis, and have contributed to mitigating the economic damage of the aftermath. These actions were only possible because central banks, including the SNB, were able to act flexibly in exceptional circumstances – a flexibility which the gold initiative would severely constrain.

But the social costs of the crisis were – and still are – enormous, and the main lesson that central banks need to take away from it is the necessity of reinterpreting their financial stability mandate, away from managing crises and towards a more prominent role in preventing them.

This means that systemic risk has to be addressed directly and effectively, a job for which central banks are well placed. If we succeed, the need for extensive crisis management measures will be reduced. In other words, one should expect to see more of central banks on one front so as to see less of them on another.

Let me conclude by reiterating the answer I gave right at the very beginning: in responding to the crisis and in implementing new regulatory measures to prevent another one, central banks did not do too much; they did what was and is necessary."

To sum up, the SNB essentially said this:

The current global financial system nearly collapsed in 2008 and it could do so again at any moment. The only way the Swiss will/can survive this coming debacle is to continue to invest all monetary authority into the same deviant central bankers that brought upon the crisis in the first place.

That sounds like a good idea, doesn't it?

While it's certainly true that a "YES" vote would be positive for gold (and silver), this referendum is about much, much more than that. It is about returning power to the people while diminishing the destructive power of the central bankers. As the world's only remaining direct democracy, the Swiss are uniquely positioned to champion this cause and begin the process of global liberation from central banking. Will they vote "YES" on November 30 or will they be cowed by fear through the propaganda spewed by their bankers and repeated by their media? Only time will tell.

I'll conclude this post today with the same words that I've used to conclude the other two posts, imploring the Swiss people to choose wisely:

The world is rapidly changing and tomorrow will not be like yesterday. The current global financial system, based upon promises, debt and unlimited fiat currency will one day soon by replaced by a system that returns the world to a sound money platform. The monetary powers of the 21st Century will come to the forefront by virtue of their accumulated reserves of sound money, not by their addiction to easy money.

You, Switzerland, still have time to act and prepare but you must move quickly. The possibility exists for you to reverse course and demand change but time is short. The end of the great Keynesian experiment is upon us. Reclaim your gold and your sovereignty now or be forever consigned to the trash heap of fiat currency history.

Faithfully submitted with all sincerity,

TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  64 Comments

  Refresh
DeaconBenjamin
Oct 12, 2014 - 1:48pm

Pilgrims rush to buy gold

Pilgrims who have completed the Haj pilgrimage are flocking into downtown Jeddah, a major commercial hub, to buy gold.

Business is brisk at the gold market and in Kandarah, while many pilgrims will be traveling to Madinah before heading home.

Sales are on the increase thanks to a decline in gold prices and an increase in the number of designs, according to traders.

Gold prices have dropped to a 15-month low of SR138 per 22-carat gram and SR129 per 21-carat gram.

"Our shops in Jeddah and Makkah have reported a 40 percent increase in gold sales," said Abdul Gafur, regional sales manager of Malabar Golds & Diamonds, a gold ornaments giant in the region.

"Sales are picking up after Haj thanks to demand from pilgrims, who feel safer making valuable purchases after the pilgrimage since they don't have to carry it around or risk having it stolen from their tents," said Abdullah Hashedi, another trader.

Gold shopping is rampant among Asian pilgrims in particular, who are keen to buy their loved ones back home valuable tokens from their journey of a lifetime.

Asian pilgrims often buy rings, bangles, bracelets and necklaces as gift items.

"Haj is costly for us, not only because of Haj charges, but because we have to include gold shopping in the budget," said Mohammed Saleem Ansari, an Indian pilgrim who had come from Makkah to purchase gold.

"The designs that are available in the Kingdom are not easily available in our country for common customers," said Rasheeda Khatun, a Pakistani pilgrim buying gold for her grandchildren.

https://en-maktoob.news.yahoo.com/pilgrims-rush-buy-gold-060046262.html

4 oz
Oct 12, 2014 - 9:43am

Thanks for posting that 4oz

We recorded that back on Friday. It was great fun.

DeaconBenjamin
Oct 12, 2014 - 9:04am

Support for Britain's anti-EU UKIP hits record high

LONDON (Reuters) - Support for the anti-EU UK Independence Party hit a record high of 25 percent, an opinion poll showed on Sunday, days after it won its first elected seat in Britain's parliament at the expense of Prime Minister David Cameron's party.

The survey suggested that UKIP, which favors a British exit from the European Union and tighter immigration controls, could pick up more seats than previously thought in a national election next year.

"It is not only our right to seek election into the House of Commons (lower parliamentary house) in May, it has also become our duty to succeed," Nigel Farage, UKIP's leader, wrote in the Mail on Sunday newspaper.

"Too many people have been too badly let down by the political establishment for far too long for failure to be an option."

UKIP's rise threatens Cameron's re-election drive by splitting the right-wing vote, increases the likelihood of another coalition government, and poses a challenge to the left-leaning opposition Labour party in northern England too.

UKIP won its first elected seat in parliament by a landslide in a by-election on Thursday, after a parliamentarian from Cameron's center Conservatives defected and took almost 60 percent of the vote.

It won European elections in Britain in May, has poached two of Cameron's lawmakers since late August, and will try to win a second seat in parliament in a by-election expected next month.

https://en-maktoob.news.yahoo.com/support-britains-anti-eu-ukip-hits-rec...

4 oz
Oct 12, 2014 - 8:29am

Swiss Gold initiative will

Swiss Gold initiative will play in a similar manner to Scotland's Independence vote.

This was fantastic....

Bull Riders - Andy Hoffman, Claudio Grass, The Doc and Turd Ferguson
DeaconBenjamin
Oct 12, 2014 - 1:01am
valvendag1969
Oct 12, 2014 - 12:07am

Timing of Drill

Kind of interesting they want to run a drill when banks are closed for 10/13/14 for Columbus day in the United States.

AlienEyes
Oct 11, 2014 - 11:40pm

@ lordbyroniv

"I wont stand up for Maket-ticker, Jessie, Zero Hedge....or TF when they shut them down."

.

Neither will I since I will be doing my best to get my family the hell out of what's left of the USA.

Karankawa
Oct 11, 2014 - 11:39pm

Interview with Edward Snowden

The Virtual Interview: Edward Snowden - The New Yorker Festival

Visit the FAQ page to learn how to track your last read comment, add images, embed videos, tweets, and animated gifs, and more.

Pounds of Moneylordbyroniv
Oct 11, 2014 - 10:11pm

@lordbyroniv

Do tell how YOU have been "standing up for Harvey" and how we are supposed to do likewise.

I saw nothing from you on the various threads with regards to the matter, prior to your rude post to which I'm responding.

So are we to assume the "All" in "FU ALL" includes yourself? WTH?

SilverRunNW
Oct 11, 2014 - 9:04pm

@lordbyroniv

Who peed in your cheerios this morning? And how exactly are you "Saddened to see how few people stand up for Harvey."??

OMG, it's Saturday, folks are spending time with family and friends, not posting on blogs, and not "jumping to conclusions" about Harvey's site being closed down by Google WITHOUT ALL THE FACTS yet.

I have no recollection of why I already had you on my ignore list, but here you go giving a fine examle of why you are, and probably on many other "igore user" lists here.

Subscribe or login to read all comments.

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
7/31 8:30 ET Personal Income and Spending
7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

Key Economic Events Week of 7/20

7/21 8:30 ET Chicago Fed
7/21 2:00 ET Senate vote on Judy Shelton
7/22 10:00 ET Existing home sales
7/23 8:30 ET Jobless claims
7/23 10:00 ET Leading Economic Indicators
7/24 9:45 ET Markit flash PMIs for July

Key Economic Events Week of 7/13

7/13 11:30 ET Goon Williams speech
7/13 1:00 ET Goon Kaplan speech
7/14 8:30 ET CPI for June
7/14 2:30 ET Goon Bullard speech
7/15 8:30 ET Empire State and Import Price Idx
7/15 9:15 ET Cap Ute and Ind Prod
7/16 8:30 ET Retail Sales and Philly Fed
7/16 11:00 ET Goon Williams again
7/17 8:30 ET Housing Starts and Permits

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Forum Discussion

by SteveW, 4 hours 41 min ago
by I'm not Burt Reynolds, 6 hours 19 min ago
by Green Lantern, 6 hours 23 min ago
by I'm not Burt Reynolds, 6 hours 24 min ago
randomness