Date of Swiss Gold Initiative Vote Inches Closer

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:

Then follow that up with this:

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:

"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,


About the Author

tfmetalsreport [at] gmail [dot] com ()


Oct 11, 2014 - 7:47pm

Saddened to see how few

Saddened to see how few people stand up for Harvey.

What a shitty community.

Its almost as if people didnt value what he was articulating [I paid his Shanghai depletion date of Nov/Dec].

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


I cannot wait for this system to collapse.


Oct 11, 2014 - 1:17pm
Oct 11, 2014 - 12:11pm

How very odd

How the heck does one run a simulated bank failure?

I understand you can do a war games Rickards type thing. However, scenarios of "what if" ought to be baked into every decision!

The whole point of Fiat, fractional reserve banking is belief in the system. Once belief is lost, then the whole thing collapses.

Well, that is why they are doing it Bugzy, to ensure that we believe that they have it all under control.

Well, I will see that hypothetical response and raise you - So they now openly admit that banks are not safe and they are not sure of what would happen to the whole system if one or two failed - and they are publishing this fact by running a simulation!! This does not increase my faith in the system at all. Nor can I see how it is meant to. These are surely hush hush discussions. Discussions that do not exist on the record.

How does one factor in financial contagion? And then publicize that they are taking it (contagion) seriously? Are they creating said lack of belief in system?

As for Harvey,

I have never visited his site but I suspect he uses it to generate an income (anybody help here?). Now one could argue that Google can choose who it wants to do business with and can therefore pull the plug on who it wants.... well no. Surely there is some legal thing about not being able to remove a mans steady income by frustrating his long term business model (Cal Lawyer input here?). So yes, Google could shut him down for repeated violation of copyright, but they would have no trouble in telling him this.

The fact that it is a secret is no better than the dark ages of witchcraft! One only has to point a finger and proclaim witch! and you were in for a whole lot of pain and death. The fact that Google does not appear to have to tell him the reason for his new found poverty and his curtailment of free speech is disturbing.

However, one does not kick a dead dog. Harvey may well have spoken some truths which upset a few folk. The obvious answer is that Gold is running out, the rich have started to hoard it, they do not want the masses to buy it first.

Oct 11, 2014 - 11:36am

Reserve Bank of India turns net dollar seller

MUMBAI: After remaining a net purchaser of US currency for the first four months of the current fiscal year, the Reserve Bank sold $ 511 million dollars in August from the spot market.

It bought $ 3.964 billion of the US currency from the market while it sold $ 4.475 billion in August. In July, the apex bank purchased $ 9.348 billion and sold $ 3.895 billion, thereby becoming net buyer of $ 5.453 billion from the spot market.

RBI net bought $ 2.642 billion in June, $ 1.786 billion in May and $ 5.870 billion in April.

In August last year also, the RBI was a net seller of the greenback after it sold $ 3.188 billion and bought $ 724 million from the spot market.

Oct 11, 2014 - 11:33am

SWIFT pressured to block Israel and Russia

BRUSSELS - The international wire transfer system Swift will not block Russia or Israel from its services following requests for it to do so.

The Belgian-based firm on Monday (6 October) said it had received calls to disconnect institutions and entire countries – most recently Israel and Russia - from its network.

“Any decision to impose sanctions on countries or individual entities rests solely with the competent government bodies and applicable legislators,” it said in a statement.

It did not specify who made the requests.

Oct 11, 2014 - 11:20am


I am very reluctant to jump to any conclusions on the Harvey thing.

As the owner of this site, I occasionally get nasty emails from other publishers informing me that I need to remove a link that was posted without accreditation. KWN used to be all over this stuff and I would imagine that ZH would do the same.

With all of Harvey's copy-and-pasting, it is highly likely that somebody finally got a court order against him after multiple attempts to get him to cut it out.

Now, the fishy part is the alleged lack of transparency from Google...which I should remind you is just hearsay. This could also be sensationalized quite easily.

At any rate, let's all be patient and wait to see what else comes out next week.

Key Economic Events Week of 9/14

9/15 8:30 ET Empire State and Import Price Idx
9/15 9:15 ET Cap Ute and Ind Prod
9/16 8:30 ET Retail Sales
9/16 10:00 ET Business Inventories
9/16 2:00 ET FOMC Fedlines
9/16 2:30 ET Powell Presser
9/17 8:30 ET Philly Fed
9/18 8:30 ET Current Acct Deficit

Oct 11, 2014 - 10:59am

puro oro

Using Mr Fix's recipe from:

I cooked up a batch of colloidal silver. It was much, much easier than I had thought it would be. I use a 9 V dc, 300 ma output power adaptor from some forgotten appliance/telephone/computer peripheral, or whatever it was from, and just connect it to two pieces of .999 silver. One englehard 5 oz bar (damaged some years ago, so sacrificed rather than pristine silver), and a generic round.

You will be happily surprised at how easy it is to make.

Thanks again Mr Fix!!!

Mr. Fixpuro oro
Oct 11, 2014 - 10:16am

To send me a PM, click on my name anywhere,

On my “home page” for lack of a better term, you will find “send personal message”.

Of course, you must be a subscriber for this to work.

If not, just post on the “nano silver” or “colloidal silver”, or the “Ebola forum” listed under conspiracy theory,

and you'll get all the help you need. Good luck!

puro oroMr. Fix
Oct 11, 2014 - 10:10am

Off Topic

Mr. Fix, I am preparing to "cook" my own Silver Collodial today and need help. How can I PM you ?

Mr. Fix
Oct 11, 2014 - 10:09am

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Key Economic Events Week of 9/14

9/15 8:30 ET Empire State and Import Price Idx
9/15 9:15 ET Cap Ute and Ind Prod
9/16 8:30 ET Retail Sales
9/16 10:00 ET Business Inventories
9/16 2:00 ET FOMC Fedlines
9/16 2:30 ET Powell Presser
9/17 8:30 ET Philly Fed
9/18 8:30 ET Current Acct Deficit

Key Economic Events Week of 9/7

9/9 10:00 ET JOLTS job openings
9/10 8:30 ET Initial jobless claims
9/10 8:30 ET PPI
9/10 10:00 ET Wholesale Inventories
9/11 8:30 ET CPI
9/11 9:45 ET Core CPI

Key Economic Events Week of 8/31

9/1 9:45 ET Markit Manu Index
9/1 10:00 ET ISM Manu Index
9/1 10:00 ET Construction Spending
9/2 8:15 ET ADP employment
9/2 10:00 ET Goon Williams
9/2 10:00 ET Factory Orders
9/3 8:30 ET Initial jobless claims
9/3 8:30 ET Trade Deficit
9/3 12:30 ET Goon Evans
9/4 8:30 ET BLSBS

Key Economic Events Week of 8/24

8/24 8:30 ET Chicago Fed Idx
8/25 10:00 ET Consumer Confidence
8/26 8:30 ET Durable Goods
8/27 8:30 ET Q2 GDP 2nd guess
8/27 9:10 ET Chief Goon Powell Jackson Hole
8/28 8:30 ET Pers Inc and Consumer Spend
8/28 8:30 ET Core Inflation
8/28 9:45 ET Chicago PMI

Key Economic Events Week of 8/17

8/17 8:30 ET Empire State Manu Idx
8/17 Noon ET Goon Bostic
8/18 8:30 ET Housing Starts
8/19 2:00 pm ET July FOMC minutes
8/20 8:30 ET Jobless claims
8/20 8:30 ET Philly Fed
8/20 10:00 ET LEIII
8/21 9:45 ET Markit flash PMIs July

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

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