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Everything You Need to Know About The Swiss Gold Referendum
On November 30, Swiss nationals head to the polls on three separate issues: abolishing a flat tax on resident, non-working foreigners, an immigration cap, and a proposal on Swiss gold reserves. As Visual Capitalist notes, the one we are most interested in is the latter section of the ballot, and today’s infographic sums up everything you need to know about the upcoming Swiss gold referendum.
The referendum, if passed, will mean that (1) The Swiss National Bank must hold 20% of all assets as gold, (2) Switzerland will repatriate the 30% of their gold held abroad by England and Canada, and (3) Switzerland may no longer sell any gold they accumulate.
In the most recent polling, 38% of respondents supported the initiative, 47% were against, and 15% were undecided. The poll has a 3% margin of error as well. While support is down from the previous poll, anything is still possible on November 30th.
Switzerland currently holds 1,040 tonnes, or 7.7% of its reserves in gold. The country actually holds the highest amount of gold per capita (4.09 oz per citizen). However, it used to be an even bigger holder of the yellow metal. In 2000, the SNB held 2,500 tonnes of gold and it has also been the biggest national seller since.
The implications of the vote are huge. With a “yes”, the SNB would have to purchase at least 1,500 tonnes of gold to meet the 20% threshold for 2019. That’s about half the world’s annual production. It would also put Switzerland back in the top three for most gold holdings worldwide.
Courtesy of: Visual Capitalist
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Until they storm the palace, voting no longer matters.
Eric Cantor, the pro-Euro parties, and a whole bunch of Democrats would disagree...
Good Article. But the banksters will never allow this bill to pass. If voting made a difference, it would be abolished.
Yup.....and even if it passes they'll have Plan B ...just look at Germany....Ya can't get what ain't there........and if it was there YOU AINT gettin it.
Listen Zero's.
We cannot expect miracles overnight. It's a step in the right direction and if nothing else, it gets people thinking about gold and the value in holding it closely.
It'd be easier for them to flatten an Alp mountain than it would be to grab any of their gold.
The Central Bankers; They'll never let it go...
So Turd posted this today of TFMetalsReport at 11:30am EDT. ZH is just getting to it now and no hat tip to Turd? What's up? Does ZH and TFMR have a feud going? ZH never posts any of their stuff and they do excellent write-ups. And TF scooped ZH on this chart by about 9 hours.
Turd Ferguson is one of the smartest and most savvy guys around. Tells his followers to BTFD all the way down and then after they have been financially wiped out Turd makes them pay $$$ to listen to his advice!! His followers of course pay Turd the $$ because Turd holds their hand and tells them that they were right all along and the gold silver market is rigged/manipulated/paper.....Blah Blah Blah.....Fuck U Turd!
Oh he will likely be right one day, but I know what you mean. Subscription to what?
I find comments sections most useful, after you sift through the trolls and plants, ego primpers and general riff-raff. It can be a good place for newcomers to fill gaps in their knowledge and benefit from the lessons and hard knocks of others.
KWN
Swiss currency used to be the most honored, the most trusted, the strongest in the world.
Now, no tso much and fading fast. This is an excellent opportunity for the Swiss [currency] the reclaim their title and status.
If the motion fails, I bet we'll see greater momentum of wealth preservation to HK and Singapore.
King World News! Hahahahahah!
Here's their latest headlines:
Entities Owning Paper Gold Are Now Getting Very NervousOn the heels of the announcement by the Dutch that they have repatriated 122 tons of physical gold from the U.S. Fed, today it appears that entities owning paper gold are now getting very nervous. So... Man Who Telegraphed Dutch Repatriation Says U.S. Gold Gone
The man who astonishingly telegraphed the Dutch gold repatriation nearly 30 days ago said today that the U.S. gold hoard, which countries believe is safely stored at the New York Fed, is gone. A... A Critical Area To Watch In The Gold & Silver Wars
Today King World News is featuring a piece by a man whose recently released masterpiece has been praised around the world, and also recognized as some of the most unique work in the gold market. Below... China & Russia To Accuse U.S. Of Not Having The Gold
Today King World News interviewed a man who has been uncovering critical information for 25 years who said that in the not-too-distant future China and Russia are going to publicly announce to the... Swiss Gold Initiative Leader Banned From Televised Debate
Today King World News was stunned to learn that the Swiss politician who launched the Swiss Gold Initiative was actually banned from participating in the televised debate. Luzi Stamm, who was one of... Is The Price Of Silver Really Headed Over $250?
Today King World News interviewed a 60-year market veteran who made some absolutely incredible predictions regarding the silver market. He discussed why the price of silver is headed to levels that... Rick Rule - War Is Hell, Especially In The Gold & Silver Markets
Today one of the wealthiest people in the financial world spoke with King World News about the ongoing war in the gold and silver markets as well as what to expect in the future. Rick Rule, who is... This Stunning Chart Has Surged Very Close To 30-Year Highs
With the Dow trading above 17,600, the Nasdaq close to 4,700, oil at $74.50, and gold near $1,180, today King World News is pleased to feature an incredible chart that has not truly reversed course in... Man Who Made Legendary Call In Silver Exposes BIS & Gold
Today the man who made one of the greatest market calls in history spoke with King World News about the historic events taking place in the gold and silver markets as well as what to expect in the... Insider Exposes Shocking Truth On German Gold Repatriation
Today the original architect of Germany’s gold repatriation movement stunned King World News with the truth about what is really happening with the effort to get Germany’s gold back onto German soil.... Greatest Opportunity In The War In The Gold & Silver Markets
Today KWN is putting out a special piece which features two remarkable charts revealing the greatest opportunity in the war in the gold and silver markets. These are charts that the big banks follow... The Stunning Reason Why Silver Is Set To Skyrocket
Today an acclaimed money manager spoke with King World News about the stunning reason why the price of silver is set to skyrocket, and what he had to say will shock KWN readers around the world....
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As far as I can tell, thiese perma-bulls have just been recycling the same stories and headlines since at least 2007 when I started reading them. James Turk (out of Spain)! (Street savvy) Rick Rule! Jim Sinclair! The godfather of newsletter writers, Richard Russell! blah blah blah.. Every six months or so when I start wondering if the ponzi really will collapse during my lifetime, I go over there for a pep talk so I don't sell my PM's.
Thanks to this strategy I've got poorer by the day. Thanks KWN!
You better listen now, so you can learn something for yourself. You listening?
Listen Bangladesh. Can you hear it?
It's the sound of a shitstorm, coming at us with 200mph.
The Netherlands managed to 'get what ain't there', Bob.
https://www.bullionstar.com/blog/koos-jansen/the-netherlands-has-repatri...
Guess Jeffery didn't get THAT memo.
And if you want to get technical, that would slide NL's position on that buy/sell chart to the left a few notches.
These infographics are like reading the newspaper, a day late and a dollar short.
Re: "If voting made a difference it would be abolished."
what a load of elitist crap, anywhere ~80% of the masses bother to take the opportunity to voice their mandate it generally does make a difference.
You're thinking of the places where the plutocrats and their sycophants have managed to convince the apathetic and the lazy that they can call themselves 'rebels' if they deny themselves their rights
[citation needed]
cite this
just how la...'rebellious' are you?
Sorry, I suppose that was a snarky reply, but in my lifetime, I've never really seen voting accomplish anything. In fact, far more often I've seen stories of "even though the public voted overwhelmingly against [insert stupid policy decision], it was enacted anyway".
Now on the other hand, when thousands of people show up on a banker's front lawn with torches and weapons, threatening to burn the banker's house down, shit gets done, like what I saw in Iceland a couple years ago.
RE: "Shit Sandwich Enacted Anyway"
Oh yeah, there's that too, natch. Sucks the unalloyed joy right out of a fellow. Doesn't happen quite as often though when/where there are high percentage turnouts.
Say, with only a headcount of a few hundred k, couldn't ~80% of Icelanders fit onto one of their banqsters' lawns? That is a heartening story indeed. Now if the they could jest finalize that extradition treaty with Londoninium...I wonder, if it was put to a referendum, would ~80% of the English show up to ship 'em back North?
>Because my favourite part is the frog marches, orange jumpsuits, and the place it seems to hurt the most: asset redemption.
>I wonder, if it was put to a referendum, would ~80% of the English show up to ship 'em back North?
Now that's something I'd pay to see.
BTW, thanks for the link in your reply. Those were some interesting numbers. I tell ya, I crunched the numbers on the mayoral election in my suburb of Vancouver (Canada) last week, and we only had 31.3% voter participation. Geez, I at least grilled two of the three candidates for half an hour each, in person, and made sure I knew what I was doing when I went to the polls.
Anyway, if it weren't for the desolation, extreme cold, and incredibly expensive bacon, I'd move to Iceland...go work for CCP or something.
31.3%? Disgusting.
Canada is a nation where the current federal regime has the hubris to claim a 'majority' gov't after receiving approval from 26% of the eligible electorate.. and (directly relating to my initial comment) didn't they also just squeeze Elections Canada's scope to prevent it from working to encourage Canucks to vote? The 'rationale' being that because voter participation is dropping they are wasting tax payer dollars trying to persuade them to participate; you can't make this shit up.
"anywhere ~80% of the masses bother to take the opportunity to voice their mandate" WITH PITCHFORKS IN HAND "it generally does make a difference."
Moral:
Pitchforks are much easier to count than hanging chads.
never said there was only one way to skin a cat (SFW)
+1 for 'hanging chads'
Every country should repatriate their gold reserves. Especially Germany whose holdings are at Fort Knox assuming they are still there.
The "lease agreements" are still there.
An American, not US subject.
Fort where?
Fort where?
Fort Bollocks
Cantor got blindsided. They did not expect that. They rigged the Mississippi primary twice to make sure Thad Cochran "won." The second primary was total fraud.
They do not take a chance on Senate seats. Unless the GOP defunds Obama's amnesty then voting and govt is a total joke.
Since they disclosed Tribe's secret accounts , they are not getting any gold back from USA.
Yea, wait till the swiss find out that the Dutch slipped off with several hundred tons of Gold from under the New York streets and the rush will be on.
Bornda Bornda
SAVE YOUR GOLD WHILE YOU STILL CAN SWISS PEOPLE!
People think this will actually pass? That's adorable.
This passing would be an absolute catastrophe for the central bankers. Other nations would follow suit, and they would be looking for physical gold, not paper. This would collapse the current system of rehypothecated horeshit by next year. Hmmm...I see what you did there central bankers. Everybody ready to see some shit?
Seriously, do you know anyone of mild intelligence who answers polls honestly? Among those 15% undecided (likely understated), I'll wager MOST are about to vote YES but don't want themselves identified by a pollster whose firm might be contracted by The Enemy.
Case in point: poll results in Canada prior to federal and provincial elections in recent years have been EXTREMELY INACCURATE. The pollsters might as well be throwing darts. And speaking for myself, I always call myself 'Undecided' right to the very day of voting, because you never answer a poll honestly!
I agree with you, but let me clarify. I think on something so important, they will simply rig the vote, unless they are eager to light the fireworks sooner. Everyone mildy intelligent, as you succintly put it, is aware the paper collapse is a mathematical certainty.
As per Metternich: “The events which can not be prevented, must be directed.”
I agree. Too important too pass.
By the way, who did the polls that are so conveniently negative?
"...who did the polls that are so conveniently negative?"
Excellent question.
That gives me an idea..maybe we should do our own poll. Anyone else have access to a 'phone?
You are way too optomistic. When I lived in Switzerland in th 80's we would sit around and watch "Der Denver Klan" which was "Dynasty". That was big time back then. I bet they watch Survivor now and coun't themselves as worldly.
i love gold
i appreciate that gainesville coins in Lutz Fl provided this info graphic.
they have a beautiful store.
and when i went in they discriminated against me for not looking like/ appearing to be a serious gold buyer.
they told me to go to another shop a mile down the road.
FWIW i was only spending $1300. still i felt disrespected.
Wonder how a serious buyer looks?
Their brow is furrowed. They walk with a hunch. And they wear old, threadbare clothing that smells like mothballs.
"2) Switzerland will repatriate the 30% of their gold held abroad by England and Canada"
A little technicality there, as their gold is actually in China. The banksters still have the "lease" papers, but the gold is "gone."
An American, not US subject.
How do you know their gold is in China? Do you have support for that statement?
Who sold all that gold to China?
Can you elaborate on that?
there is nothing to know because its not passing. end of story.
I don't really care if it passes or not. I'm loading up on 2014 Silver Eagles. When gold finally bottoms, then and only then will I buy Gold Eagles.
With a promise of a living wage of $2600 per month to all and sundry, do you think the dumb portion of the population is going to rock the boat by voting yes?
The yes vote will be lucky to get 35%.
'
'
Interestingly enough, China doesn't show up as a top 5 holder of gold in the infographic.
According to this article, by that little web-rag Zerohedge… http://www.zerohedge.com/news/2014-01-19/shanghai-daily-china-expected-a...
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The website, which cites an analysis by Jeffrey Nichols of American Precious Metals Advisors, reports that the Chinese central bank is about to announce its gold holdings have nearly tripled from 1054 tons to 2710 tons.
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Hmm…
•?•
V-V
#1 gold importer in the world: China
http://online.wsj.com/articles/SB10001424052702304675504579389261432501856
#1 gold producer in the world: China
http://en.wikipedia.org/wiki/List_of_countries_by_gold_production
China's place on the list of top gold exporters: Does not appear
http://www.worldsrichestcountries.com/top_gold_exporters.html
You know they're really holding because they're not telling.
And then there was this:
King World News was stunned to learn that the Swiss politician who launched the Swiss Gold Initiative was actually banned from participating in the televised debate.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/11/20_S...
This is true, but the politivcian also said that his 2 compatriots were not banned and did a really great job explaining it to the people. So, there is a thin ray of hope. Cross your fingers.
My advice? Prayer, Mr. Savvik.
-Spock
Switzerland? Scotland?
Same tame. Nothing to see here, folks...
Seriously, If I were a swiss , I will vote yes in a hartbeat. However, I've said it before and I will say it again. There is no way in hell this gold repatriation will win (Unless there's a huge shift in sentiment). TPTB will do everything in their power to ensure the gold repatriation never see the light of the day. Remember scotland? Yep, You got the picture.
This is from a post last night in the Dutch repatriation article which states repatriation is easy.
http://www.bullionstar.com/blog/koos-jansen/german-gold-repatriation-acc...
This may be childish silly question, but why if it's a good thing for the country does the government have to have a citizen referendun of approval to bring home what is theirs????
But repatriating their gold is not the only thing being decided, is it....the most important decision is to create the new reserve level of 20%.
It is the banksters and professional politicians worst nightmare. It returns the power of money to the people, plain and simple. It throws a monkey wrench into the gears of the monetary printing press. If the politicos want to spend more, they have to face the people (can anyone say "tax increase"?) and face the wrath of their constituency upon the next election. As for bankers, they can't, through inflation and deflation, steal what the people have built, produced, and saved. It's a win-win situation. Power to the people!
Go Swiss go! Vote "YES"!!!!!!!!!!!!!!
PS: I hope the Swiss are smarter than the average, dumbed down American.
Won't happen, then what...
This is only the beginning. People are voting for gold, voting for freedom, voting for secession, and losing by narrow margins. It is definitely an uphill slog, but eventually, like the Crimea, someday, we will educate enough people to win.
Keep up the good fight and remember...It's not over until the fat lady sings and the gold coins ring.
I think this thing is gonna lose not because there aren't good ideas that the Swiss support, but because there are some dumbass ideas as well.
Most notable is the provision against selling gold. If you can't sell gold, it's value is at minimum impeeded, for lack of a better word.
I believe the Swiss want their Gold in Switzerland, legitimately think 20% of total assets is a good number and after this one goes down will tweak it and bring it back.
I also believe that should this thing pass, there will be paper sales like you won't believe coming out of London in a desperate attempt to reaquire the gold those assholes lent out for sale to points east.
You think it's volatile in the gold market now?
Gold will rebound for a little while anyway...
http://www.globaldeflationnews.com/gold-elliott-waves-forecast-a-multi-m...
Let's see it first. It needs to go past 1245, unless then: <1100 remains the target.
Re: "If voting made a difference it would be abolished."
These type of comments piss me off. Usually only around 30% or 35% of the population votes in mid-term elections. If you are disgruntled with both parties then there are plenty of Independents, Liberterian and Green party candidates on the ballot for almost every position. Not voting is giving the "O.K." to remove those rights. Sure some elections seem to have a certain amount of rigging but usually for just the big candidates but not so much for state or county level. What you may not realize is during the past 4 years congress only passed around 180 bills while the states passed well over 5,000 bills. That figure is stunning and the reason to make the state level vote count.
Plain and simple, it ain't gonna pass.
However, the upside is cheaper gold!
This infographic does a disservice by not being more accurate and current:
1) The quote from the Dutch Central Banker about them being unable to contract and expand the money supply is a logical falacy, and should be pointed out as such. As long as the SNB maintains a gold reserve of 20 percent of its maximum planned monetary base, it can contract and expand all it wants with no reference whatsoever to the amount of gold it has. It would always be at least 20 percent, with it higher during contractions in the monetary base and dropping back down during expansions. The gold requirement merely puts in place a limit, saying you cannot expand endlessly UNLESS you buy more gold. That is all.
2) Because the monetary base is not tied to a fixed weight in gold, it would not be a gold standard. (see point one).
3) Why not mention the huge gold repatriation recently by The Netherlands? Apparently, their repatriation WAS easy.
4) As noted by others, the data on gold holdings by countries are highly questionable, with China being notably absent in the graph.
Any Swiss who votes no should be nagged out of Switzerland. Like most so-called Americans, they've completely abandoned any virtue they once had.