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Nov 30th Swiss Referendum

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Author Previous TopicReplies: 8 / Views: 2,021Next Topic  
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leon1998's Avatar
United States
586 Posts
 Posted 11/21/2014  2:20 pm Show Profile   Bookmark this topic Add leon1998 to your friends list Get a Link to this Message Number of Subscribers
any comment or speculation?

Rest in Peace
bpoc1's Avatar
United States
4078 Posts
 Posted 11/21/2014  3:06 pm  Show Profile   Bookmark this reply Add bpoc1 to your friends list Get a Link to this Reply
Not sure what this about. Did I miss something.
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Medieval's Avatar
3772 Posts
 Posted 11/21/2014  3:09 pm  Show Profile   Bookmark this reply Add Medieval to your friends list Get a Link to this Reply
Which of the three referenda are you talking about 'leon1998'?
If it is the one related to gold, that is most likely going to fail.
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Demarco Bishopp's Avatar
United Kingdom
548 Posts
 Posted 11/21/2014  3:24 pm  Show Profile   Bookmark this reply Add Demarco Bishopp to your friends list Get a Link to this Reply
Basically it's about whether Swiss banks should be required to hold a larger amount of their reserves in gold.
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United States
589 Posts
 Posted 11/21/2014  9:51 pm  Show Profile   Bookmark this reply Add Groszy to your friends list Get a Link to this Reply
Whether or not to back the Swiss Franc by Gold, or at least a minimum of 20% of it. And by "the Swiss Franc", I mean the "assets of the Swiss National Bank" which mainly mean the Franc. Also included in the vote is a provision that should it pass all the gold held at the FRBNY to be repatriated.

It should happen. We all know it should be passed. Put ONE currency back on some form of gold standard. However, it's not looking good...heavy opposition by the Swiss Government and the Swiss National Bank (for obvious reasons...they don't want constraint from printing money)
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leon1998's Avatar
United States
586 Posts
 Posted 11/24/2014  3:14 pm  Show Profile   Bookmark this reply Add leon1998 to your friends list Get a Link to this Reply
If the vote passes, it might not be a good news for gold.

Swiss banks will try everything they can to manipulate the price lower, so that they can buy it back.
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United States
3789 Posts
 Posted 11/24/2014  3:50 pm  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
the Swiss currency is in a downtrend.....
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XavierOfGreen's Avatar
United States
2589 Posts
 Posted 11/24/2014  5:18 pm  Show Profile   Bookmark this reply Add XavierOfGreen to your friends list Get a Link to this Reply
The swiss central bank is pushing the currency downwards, they stated such after the franc hit its high during the financial crisis
Pillar of the Community
United States
3789 Posts
 Posted 11/24/2014  5:45 pm  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
yup they sure did been a nice easy trade to follow trendwise
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