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

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Fred Hayek
Oct 10, 2014 - 8:10pm

How did Barry Switzer get a country named after him anyway?!

Okay, he had some good years as the coach of the Oklahoma University football team. But he only won with the Dallas Cowboys because it was such a great roster that Jimmy Johnson had put together.

So, I ask, again, how the hell did Barry Switzer get people to name a european country after him?!?

DollarMenu2
Oct 10, 2014 - 8:06pm

Where's Harvey ????

Don't mean to go off topic, but really, does anyone know

where in the world is Harvey?

https://harveyorgan.blogspot.com

I've used the above link for a very long time, but it no longer works.

He is one of the GoodGuys.

buzlightening
Oct 10, 2014 - 7:22pm

Last thing the criminal bankstering cartel is going to allow is

the truth about where the swiss gold went.(It's in the east never to return) Anyone with an allocated account has only an I owe you in the vault. Latest Willie says he's looking forward to more western banksters hitting the pavement. The fraud will not be covered up much longer of the greatest fiat ponzi ever perpetrated upon global citizens. neoCONzi's have all kinds of alternative distractions to rain down upon the people. Ebola, war, cyber attacks on banks, electrical grids going down, terrorist blowing up malls, and any numerous other crappola, to fear factor people into corrals for slaughter. If you sneeze in the forest will the cdc quarantine you in CT.

IT’S BEGUN: Public Health Emergency Declared In Connecticut Over Ebola: Civil Rights Suspended Indefinitely

[Ed. Note: Signed by Malloy at 10:04 am on October 7th - It makes perfect sense that the national Martial Law beta test would originate in the bought-and-paid-for Sandy Hook gun grab state.]

Welcome to the new normal American police state.

from ZeroHedge:

We warned a week ago of the various possibilities surrounding an Ebola outbreak in America, and today we get some degree of confirmation of a medical-based martial-law coming to the US. Governor Dan Malloy has declared a Public Health Emergency in Connecticut, authorizing the “isolation of any individual reasonably believed to have been exposed to the Ebola virus.” Simply put, as we noted previously, the State of Public Health Emergency allows bureaucrats to detain and force-vaccinate people without due process – despite not one single case being found in CT.

If there is a major Ebola pandemic in America, all of the liberties and the freedoms that you currently enjoy would be gone. The state of public health emergency will remain in effect indefinitely until lifted by the governor.

Read More @ ZeroHedge.com .....................................................anyone else tired of the fear factoring neoCONzi gestapo?

pbfurn
Oct 10, 2014 - 6:55pm

Off Topic...Apologize

Anybody know where Harvey Organ's blogspot disappeared to?

cliff 567
Oct 10, 2014 - 6:48pm

Swiss gold

The referendum says to me that a bunch of bureaucrats have no right to sell the Swiss people's gold.

Another referendum on a national ballot may allocate the permission to sell Swiss gold.

That decision would have been made by the Swiss people to sell Swiss gold.

The people getting to spend their money by referendum?

Shocking I say, Shocking.

cliff

Marchas45
Oct 10, 2014 - 6:46pm

I Believe You All

Have it Wrong IMO about The Scottish Referendum. You never saw it covered in the media but it was all about Religion and the Protestants where not going to give up their loyalty to the crown as they are Loyalists and Unionists. Keep Stacking

DeaconBenjamin
Oct 10, 2014 - 6:40pm
DeaconBenjamin
Oct 10, 2014 - 6:37pm

Gold backing of swiss francs

Swiss francs must be backed by gold -- would Swiss-issued gold coin be adequate, or does it need to be good delivery standards? Would the "backing" be like the gold exchange standard of the 20s and 30s, where only big players can actually access the gold?

Motley Fool
Oct 10, 2014 - 5:56pm

TF

Well, they have 70% at home already.

There seems to be a misunderstanding of what the purpose of reserves are.

It is something liquid to capitalize in case of emergency. Having some of your emergency reserves in a foreign financial center is prudent.

If this passes then that provision means that they would have to ship the gold off before being able to sell it if there is a crisis( ignoring for a moment the stupidity that they are not allowed to sell in any scenario), which takes time and will negatively affect them in their response ie. will cost them dearly.

The SNB response makes way more sense than this proposal does, though their being vexed over lack of income is laughable.

Just fyi, here is the three key provisions :

"first, the SNB should hold at least 20% of its assets in gold;

second, it should no longer be allowed to sell any gold at any time; and

third, all of its gold reserves should be stored in Switzerland."

And the second is what I have most issue with, though the third is pretty stupid too.

If the Swiss people want to have more gold in their currency zone, the smart thing to do is to buy the bloody stuff themselves.

As for my true colours, I don't think it is any secret that I oppose stupidity.

TJeffson
Oct 10, 2014 - 5:49pm

@TF re Motley

It doesn't fit with his bankster friends. It's pretty easy to see that another, foa , fofoa are/were bankers... maybe even central banker(s). Freegold has been debunked numerous times here already as nothing but another scam to rob the people via inflation.

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