Tuesday, September 20, 2011

SVP Party Attempting to Make Swiss National Bank Gold Sales Unconstitutional, Require 20% of SNB Assets Held in GOLD

The Swiss are attempting to overrule the Swiss National Bank's CHF devaluation by passing a Consitutional amendment making gold sales by the SNB illegal, and requiring 20% of the SNB's assets to be held in gold. As the SNB currently holds 16%, this would present a slight problem for the banksters if passed.

Through Google Translate:

After the gold sales in recent years, the Swiss National Bank has a little more than 1000 tons of gold. With its people's initiative "Save our Swiss gold" (gold) initiative, the SVP wants to ensure that it remains so.
The party wants to enshrine a people's initiative in the Constitution that the gold of the National Bank (SNB) may no longer be sold. The remaining gold reserves are stored in Switzerland. With an assumption of the initiative, the SNB would also obliged to keep 20 percent of their assets in gold. In its annual report 2010, the SNB made 16 percent of their assets in gold.

The SVP criticism that the SNB has sold in the last ten years, more than half its gold reserves. If the more than 1,500 tonnes exists, Switzerland would now have extra reserves of 75 billion francs, the Aargau National Luzi Stamm said on Tuesday in front of the media Bern.Population not previously asked
The gold reserves were under pressure from abroad, but also upon the recommendation of Swiss experts who had called the gold reserves as superfluous sold. The Swiss population, however, was never asked if the gold should be sold, although that is a question of "national wealth," said Stamm.
"National wealth" question, because in the gold reserves "of hard work, the ingenuity, the pioneering spirit, commitment and performance power of every people" Spiegler said National Ulrich Schlüer (Zurich) according to the transcript. No government is legitimate, to dispose of the currency reserves of the country's own easy. "Can that politicians on the world stage to play poker" These were not made, said Schlüer.
The St. Gallen National Reimann Lukas sees the gold reserves of the foundation for the capabilities and independence of Switzerland. The solution for the currency and debt crisis can only be: "Back to sound, to real, visible and tangible values ​​oriented monetary policy," said Reimann.Switzerland's future
The gold reserves of the National Bank formed a foundation of trust, which for a sound currency and thus the stability of the financial sector was essential. No less important, as Reimann but the storage area of ​​the gold. Namely, a portion of the reserves stored abroad, which holds the initiative committee in view of the indebtedness of many countries is irresponsible.
According to Reimann is the gold-initiative "in the face of difficult and uncertain times" therefore of crucial importance for the future of Switzerland. With the petition, the SVP can begin now. She has until 20 March 2013 period, which have together for the realization of their desires necessary 100,000 signatures.
This period was published on Tuesday in the "Federal Gazette".

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