Friday, January 25, 2013

Now the Swiss want their Gold back

Ever so slowly thinking people are starting to realise that the paper or polymer money in their hand or the +/- charges on a bank's hard drive have no intrinsic value, and they want to know where their country's real money is. Just like I did when I asked the RBA about Australia's gold reserves.

From the website '20 minutes' comes a report that 90k signatures of the required 100k have been raised to force disclosure, repatriation and additional purchases of gold by the Swiss National Bank (SNB).

Link to report in German
Translated into English (by google)

By Lukas Hässig

Home to Switzerland must get their gold from abroad? The SVP initiative calling for the missing, only 10,000 signatures. The SNB could get into trouble.

Where are the 1,040 tonnes of gold the Swiss National Bank?

The question is now being seriously discussed with us. The response of the SNB remains nebulous. Most of it is here, but some lie abroad, said the central bank. "We do not want to be precise," says SNB spokeswoman Silvia Oppliger. "Maybe we will express more precisely, should the gold initiative come about."

Interestingly, Switzerland has been a long time before the Germans and taken without public vertebral the topic. Circles from the People's Party launched 16 months ago, the gold initiative. Because the project in parliament remained chance would just started as the last remaining means an initiative, the initiators said then. By referendum, they want to force the SNB to store all the gold in Switzerland and sell no single ton more. In addition to the SNB within 5 years after voting to increase their gold holdings massively so that it accounts for a fifth of the minimum in the whole balance.

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