The "Vollgeld Initiative" - Switzerland's 'Once-In-A-Lifetime' Chance To Save The World

Authored by Peter Koenig vie The Saker Blog,

It’s called “Vollgeld Initiative” – in German, meaning more or less “Referendum for Sovereign Money”. What is “Sovereign Money”? – Its money produced only by the Central Bank, by the “Sovereign”, the government, represented by its central bank. Money created in accordance with the needs of the economy, as contrasted to the profit and greed motives of the banking oligarchy – what it is today; money creation at will, by private banking.

The people of Switzerland are called to vote on 10 June 2018 whether they want to stop the unlimited, unrestrained money-making by the Swiss private banking system, and to return to the “olden days”, when money was made and controlled only by the Central Bank; and this not just in Switzerland, but in most countries around the globe. Switzerland is one of the few sovereign countries within the OECD, and possibly worldwide, that has the Right of Referendum written into her Constitution.

With 100,000 valid signatures anybody can raise a referendum to amend or abolish a law, or to create a new one. – This is a huge privilege to Right a Wrong.

Most Swiss and probably most westerners in general don’t even know that the loan or mortgage they get from their bank is no longer backed by the bank’s capital and deposits. How could they? Instead of being told the truth, they are being lied to, even by their own party and politicians. And that in the case of Switzerland, by nobody less than the CEO of the UBS, the largest Swiss bank. Just watch this short video (in German and Italian – 2 min)

Lying is a felony, hence Mr. Sergio Ermotti, CEO of UBS, should be prosecuted. Unlikely to happen, though. What Mr. Ermotti in essence says in this interview is that loans are backed by deposits. This is directly contradicted by the Swiss National Bank and the German Bundesbank (Central Bank). They say that “today about 90% of all the money is accounting money, created by loans the banks make to enterprises and private citizens. Pretending that banks use deposits to make loans, is not true.” The latter part was specifically expressed by the German Bundesbank. – So, how come Mr. Ermotti, CEO of UBS, wouldn’t know that?

Switzerland, fully embedded in the globalized western banking system, absorbed by it, has a chance to tell the world that the only way to control and get on top of the cycle of financial and economic crises is to reign-in the bottom-less money production – the debt-interest-profit driven banking system, a Ponzi scheme that cannot survive (financing debt with more debt); the abhorrent uncontrollable debt-profit cycle that has brought misery to humanity – just look at Greece. With money production controlled by the respective central banks, for example, in France and in Germany, the senseless indebting of Greece by German and French banks would not have been possible, in which case the troika’s (ECB, European Commission and IMF) so-called bail-outs, or ‘rescue packages’, would not have been possible either. Hence no doubling of Greece’s debt – and Greece would be well on her way to recovery.

The point is that these too-big-to-fail banks have become also too big to control, and of course they do not want to be controlled. They have the (political) power to shed off any control. They want to continue creating debt, lending money not for economic development, but for profit of their shareholders. Banking for development has stopped a long time ago. The only banking for development is public banking, and that is almost non-existent – so far – in the west; except for North Dakota and soon New Jersey – and a number of other US States are considering public banking as a means of bringing back the true sense of banking – i.e. for economic development. But with the current FED-Wall Street bulldozer’s onslaught on the world, they are fighting against windmills – but even windmills are fallible.

By and large, in the west it’s corporate banking for profit. And thanks to the public’s ignorance and disinterest, deregulation took place behind our backs.

Did you know for example, that to become a member of the World Trade Organization (WTO), a nation has to deregulate its banks – to put them on a platter at disposal of the globalized banking sharks? – Probably you didn’t. Such decisions are never publicized.

Again, the Swiss with a Yes vote on 10 June could change this for themselves and send a signal to the rest of the world – suggesting to take back their financial, economic and monetary sovereignty – cutting the link to globalized usury banking that enslaves the poor in favor of the rich. Literally.

Will Switzerland seize this unique opportunity to broadcast this powerful message to the (western) world? Saying in the clearest voice possible – enough is enough, we are going back to regulating our banking system, through ‘new-old’ legislation and through the only institution that really has the Constitutional power to create money – the Swiss National Bank?

The Swiss, an enormous influence in international banking – good or bad – could become a trail blazer for a new economic model, to demonstrate how ell well an economy can run without following the global trend of unlimited money supply – which serves only the banks by indebting the nations and the people. They could put a halt to the seemingly out-of-control economic rollercoaster that brings only misery to people, unemployment, broken homes and businesses, decimated social safety nets, pensions health plans — they, the Swiss could put an end to it and become an economically and financially independent nation with a healthy economy for the wellbeing of the people – not of the banks.

Will they? Will they grasp this once in a lifetime opportunity to break loose from the banking stranglehold?

The Swiss people are the most indebted of the G20, with 127.5% of private debt as compared to GDP in September 2017. The trend is on the rise. The United States, where deregulation started in the 1990s under President Clinton before it became ‘globalized’, was number seven with 78.5% in September 2017. – According to an OECD 2015 report, mortgages account for 120% of GDP, by far the largest proportion of all OECD countries. – Do the Swiss know that? – Some probably do, but the majority most likely does not. Ever-so-often the Swiss National Bank (Central Bank) issues a routine warning about private and particular mortgage debt – as it is an ever-raising risk for highly indebted families. An economic crisis, loss of a job – and a family fails to meet mortgage payments – bingo, foreclosure. The same as in 2008, 2009 and going on.

Well, do you know that in Switzerland first mortgages do not have to be amortized? In fact, banks encourage you not to repay your mortgage, but just keep paying interest. Many mortgages are passed on with the related real estate from generation to generation. So, you never really own your house. The bank does. And the bank earns the money on your house, as well as calls the final shots on what is to happen with your real property, in case it is being sold.

“Free money” – as it could also be called, is money made indiscriminately without backing. It has many negative effects – the risk factor, as mentioned before – and the bubble effect on the housing market which in turn increases the risk for houseowners, because sooner or later bubbles burst. The only winners are the banks.

Why can the banks just make mortgage loans without requesting amortization? – Because they are afloat with money. Because, of course, they just make money with loans – the 90% which are not central bank made money. And the more loans they have outstanding, the more interest they earn. They earn money for doing absolutely nothing. For a mouse-click. Interest accumulates on its own. And debt is today’s foremost tool to enslave people, nations, entire continents.

This is what the Swiss could change by accepting this referendum, by Voting YES to Vollgeld. It would refrain banks from creating money and return the responsibility to the central bank, where it is to be located according to the Swiss Constitution. It would force banks to be more prudent in issuing mortgages and personal debt – it would provide for a more stable economy and for a financially less vulnerable personal life. It would gradually take some air out of the real estate bubble – a healthy feature for any society.

Again, are the Swiss going to vote for what is best for them? – Probably not. – But why not? – Because they are subjected to an enormous anti “Sovereign Money” campaign by the banking and finance sector, by the ‘built-in’ lobby. Yes, built-in, because in Switzerland Parliamentarians have the right to represent as many corporations, banking and otherwise, in their Boards of Directors, as they please. Yes – this is another special feature of Switzerland, also unique among OECD countries. – How many Swiss are aware of this?

Is it therefore a surprise that the Swiss are being utterly brainwashed to vote against their own interest? – As they have done so often in the past – and frequently to the utter surprise of neighboring countries.

In addition – and this is where another feature of the Swiss Un-Democracy enters: The Swiss Federal Council, the Swiss Executive, takes for itself the privilege and right – I have no clue from where, it is nowhere written in the Constitution – to issue sort of an edict before every national vote or referendum – “advising” the people how they should vote. With a public that oozes of comfort, where consistently less than 50% go to the polls, largely because of disinterest, such a proclamation has a huge impact.

In this case, the Swiss Government, its Executive, has already and already for a while repeatedly “advised” its populace to vote ‘no’ to the Vollgeld Initiative. And surprisingly every major party goes along with it, including the socialists and other left-leaning parties. Either they are brainwashed to the core by propaganda repeated at nauseam, indoctrinating the people how bad accepting the “Vollgeld Initiative” would be. How bad can be owning your “Sovereign Money”? – Can you imagine? – How much lie must go into such fake marketing?

Or could it be that the Swiss are no longer ruled by Bern, nor has the Swiss Central Bank much to say about Swiss monetary policy, but they may be ruled by an international and globalized banking cartel that puts so much pressure on the Swiss government, that it could almost be interpreted as blackmail? – Why otherwise, would intelligent people advise and vote against their own and proper interests?

*  *  *

My dear Swiss compatriots, this is the chance of your lifetime. Do yourself a favor by voting YES to the “Vollgeld Initiative”. Not only will you do yourself and the Swiss economy a favor, by bringing the latter back to sovereign control, you would most certainly make world-headlines and, who knows, inspire the peoples of other countries, who are sick and tired of their enslavement by banks, to request that their Central Banks alone can make money – in the amount that corresponds to the needs of their economies – no longer according to the profit-and-greed requirements of the globalized banking oligarchy.


philipat . . . _ _ _ . . . Tue, 05/15/2018 - 03:08 Permalink

The last similar referendum in Switzerland regarding Gold was rejected after the same propaganda exercise to tell the sheeple that the "safety and security" of fiat money and paper assets was far superior to holding the non-interest bearing barbarous relic. Years of indoctrination and propaganda and a general lack of any financial knowledge in the general population are very difficult to overcome.

But "Debt money" is the root cause of all of the suffering of mankind and the Swiss don't even begin to recognise what a golden (no pun intended) opportunity they have to make a revolutionary step in the right direction. And that the Head of UBS Bank should disgree; well imagine my shock!!

In reply to by . . . _ _ _ . . .

HenryKissinger… One of these i… Tue, 05/15/2018 - 05:49 Permalink

I do not see WHY would this be allowed? by (((them)))

they will be put on the list for bombing, like that Wesley Clark 7 countries in 5 years list

WHY will the swiss goys wish to be bombed back to the stone age?

seniorage is only for the god chosen,

and not for the goys, otherwise the gentile goys would be free as in NOT SLAVES. which is the definition of goy. Hence TOTALLY anti semenite!

In reply to by One of these i…

Boing_Snap HenryKissinger… Tue, 05/15/2018 - 07:39 Permalink

Here in Canada we had credit based money for 40 years, took the second largest land mass from wilderness to a modern country with all manner of services for the people.

In 1974 we got hooked into issuing Treasuries to fund it all, went from $19 Billion in debt to $600 Billion in another 40 years.

The laws though are still on the books, our PM and finance Ministers since 74 have ignored the laws. We can simply vote in a party that will abide the laws, of course the twat in charge now is the son of the twat that took us into the arms of the banksters in 74, and hasn't a clue.

In reply to by HenryKissinger…

A Man of Wealt… Boing_Snap Tue, 05/15/2018 - 09:44 Permalink

Are we all aware of the major error in this article?


it conflates unsecured loans with secured loans.  Mortgages are only partially backed by deposits as they are secured by the real estate. Anyone who brings up 2006/linda green/MERS etc is either willfully ignorant or lying. Its when these greedy shucksters SECURITIZE the notes into CDO’s and fuckers like AIG insure the instrument that everything goes up in flames. 

In reply to by Boing_Snap

Heros philipat Tue, 05/15/2018 - 03:35 Permalink

What would happen to the banks (including Post Bank and the Cantonal Banks) that have created this money and lent it out when they all suddenly have to have deposits to back it 100%?

We know that there isn't enough money in Switzerland to cover this even if we count all the FANG reserves.

There would be a massive deflation as all the banks would desperately seek cash, but they would have been cut off from the IMF, ECB and FED for Swiss insolence.

This would also cause a chain effect on banks and economies in neighboring countries of France, Italy, Germany and Austria.

The point I am making is that the Swiss might be able to crash the world's financial system, but they certainly won't be the ones who are able to fix it afterwards.

In reply to by philipat

Multi Heros Tue, 05/15/2018 - 03:42 Permalink

Give the money creation power back to the people...     THROUGH A CENTRAL BANK!!!!!

Hahahaha...  not much more retarded you can get after that. Hopefully the Swiss have a minimum of common sense and vote NO to this aberration.

Dear Peter Koenig, private banks printing their own money is a step closer to people having control of their money than having ONE Central Bank printing the money.

"Central Banks alone can make money – in the amount that corresponds to the needs of their economies – no longer according to the profit-and-greed requirements of the globalized banking oligarchy".

I rather have the profit-and-greed requirements of privates banks regulating the creation of money, at least they have something to lose, than the profit-and-greed requirements of politicians. Oh I'm sorry, you are right Peter, politicians are not greedy and don't have self-interest. They are these mythological angels who ride unicorns and guard the needs of their economies. Hahahah, give me a fucking break.

" voting YES to the “Vollgeld Initiative”... you would most certainly make world-headlines..." Which world headlines you fucking retard? Central Banks create money in 99.9% of the rest of the countries. What's so new or wonderful about it? Indeed I didn't know the Swiss don't have a Central Bank printing the money. Definitively smart people.

P.s. Reading the posts in this thread. Wow. "Yeeaayyy, create a Central Bank!!!!  you go Swiss". Do even people read the articles anymore? or understand what they are reading? 

In reply to by Heros

Multi Heros Tue, 05/15/2018 - 04:40 Permalink

I am well aware of these (((parasites))). But for them it would be even easier to control only one entity, i.e. the Central Bank, than several private banks that at least will be open to a minimum of competition.

Look at the (((Federal Reserve))). Its meetings could be held perfectly well in a Synagogue.

The (Final?) Solution in this case would be outright ban these (((fellow whites))) from the country: go back to your country, you are not allowed here. There you can snipe all brown people you want as you already do now, the rest of the world won't give a rat's ass.

In reply to by Heros

ProsperD9 philipat Tue, 05/15/2018 - 05:42 Permalink

The Swiss are very well aware as they are the ones who called the referendum! (Of course, if you don't live in a "true" democracy you would never how that works) Another debate on the cards is for Switzerland to prioritize domestic laws over international laws...interesting. How the monetary vote turns out we will see...I know how I'm going to vote! 

In reply to by philipat

OutOfThinAir Dabooda Tue, 05/15/2018 - 09:59 Permalink


Totally. Run right into the arms of those who claim a monopoly on violence.

Abolish all central banking systems, central banks, and monopoly on violence claims. A strong state equals weak people.

Let individuals determine what has value and what needs defending. If geese are smart enough to self-organize, surely so are people.

In reply to by Dabooda

Heros HermanVanCuckold Tue, 05/15/2018 - 02:48 Permalink

The gold initiative (20% of SNB assets had to be gold) lost by about 80-20 in 2014.  The initiative to end BILAG (tax of $450/year/household for government propaganda channels) lost by about 80-20.  The Swiss like all of the west are heavily mind controlled.

The Swiss also get bombarded with propaganda about how the SNB "earned" billions on its FANG portfolio, and how much of these "earnings" the Cantons will share in.

Vollgeld will never pass.

But its like Syria getting S300's anyway.  It just makes a country a target for Israel and all the genocidal heeb hoardes.  Switzerland already went through the "Nazi gold" swindle and then the destruction of their financial privacy when the IRS broke Swiss and international law and forced UBS to turn over all their "tax cheats".

In reply to by HermanVanCuckold

kellys_eye Ahmeexnal Tue, 05/15/2018 - 05:53 Permalink

Not really.  Whatever the result, given that the media is almost wholly owned by the banksters, the rest of the world will be kept in ignorance of the result and its implications.

FFS, we ALL know the 'Russian Influence' is a total BS-fest and the Skripal 'poisoning' is likewise a massive con but the media will have you believe otherwise.

Voting for an honest press and media reporting system would be far more useful exercise.


In reply to by Ahmeexnal

1033eruth revolla Tue, 05/15/2018 - 07:13 Permalink

I interact with the masses far too much on the internet and if there is one thing I'm all too certain of is that Americans are scared shitless of the IRS and they will remind you over and over and over again about violations of the tax code.  

That means the propaganda spread via the media about IRS omnipotence is a very successful program and it scares people into compliance.   YOU are 100% right and the person you responded to, is 100% wrong.  There is a very small class of people that can get away with massive non-compliance and they are the self-employed which is a smaller and smaller group every day.

In reply to by revolla

Ignatius Mon, 05/14/2018 - 23:30 Permalink

"Debt free money is the civil rights issue of the 21st century."  --  Damon Vrabel

Cultural Marxists and SJW's are tools and idiots with their heads firmly planted in their asses as they battle their negligible phantom oppressors.  The real oppression arises from the privately held debt money system.

luckylongshot Ignatius Mon, 05/14/2018 - 23:58 Permalink

I researched this topic for a thesis. What I uncovered is that the entire financial system as it stands is a giant fraud. Private banks create money out of thin air (BOE 2014) and then charge the public interest on the debt they have invented. If this scam is not stopped the general public will end up homeless and bankrupt and all wealth will be owned by a handfull of bankers. Nobody who has actually made the effort to research how the system works could possibly vote to keep this system in place unless they are corrupt.

In reply to by Ignatius

Victor999 luckylongshot Tue, 05/15/2018 - 00:37 Permalink

It's worse than that.  The health of an economy depends on the amount of money in the system - too much and you have inflation - too little and the economy comes to a halt.  In our current system, if people get out of debt and the government also reduces its debt, no longer running a deficit budget, then the economy suffers badly.  Why?  Because no debt, no new money.  Not enough money and businesses and people suffer.


The banks have us by the balls.  We could change that, but we don't.

In reply to by luckylongshot

the_river_fish Victor999 Tue, 05/15/2018 - 03:34 Permalink

A bit technical here,

Money Supply * Money Velocity = Price value * Real economic output

Given QE, money supply has soared since 2008 and money velocity is close to record lows. Banks in the U.S. have $2 trillion in excess reserves with the Fed earning some $25 billion in 2017. They aren't really lending money for a simple reason that there is too much of money in the system.

All this means that either real inflation should be higher or economic output has soared as well.


In reply to by Victor999

anarchitect Victor999 Tue, 05/15/2018 - 07:29 Permalink

" The health of an economy depends on the amount of money in the system - too much and you have inflation - too little and the economy comes to a halt."

The "too little" part only occurs when money has already been conjured out of nothing and lent out with interest rates.  Then more money needs to be created and injected so that the interest can get paid.

When the US was on a gold standard (most of the 1800s, and into the early 1900s), the economy did not come to a halt, even though the money supply grew slowly by today's standards.  There was gradual deflation (1%-2% per year) and strong economic growth.  Imagine that!

This business about needing to expand the money supply to grow the economy is just so much horseshit spouted by those who have the privilege to conjure money out of nothing.

In reply to by Victor999

Dr. Engali Mon, 05/14/2018 - 23:31 Permalink

Not going to happen. Even if the initiative gets passed the globalists will make sure it goes nowhere just like every other initiative where people have tried to regain their sovereignty. How is that Brexit going, or Catelonia?


Embrace your lifetime of debt servitude bitchez! It’s much easier if you cooperate. 

LetThemEatRand Mon, 05/14/2018 - 23:31 Permalink

I read on another thread that the scariest nine words are "we're from the government, and we're here to help."

This article calls for government regulation of the private sector, so it must be bad, right?  Private companies good, government bad.  Private banks good.  Oh I've seen the light!  Lordy I've seen the light!  Put me on the top of a pyramid because I'm illuminated!


Omni Consumer … LetThemEatRand Tue, 05/15/2018 - 00:23 Permalink

Well, the government that's supposed to "regulate" the private banking as it pertains to this article, is also the same government that wrote the laws that allow these private banks to engage in fractional-reserve lending in the first place.


The Constitution says that only Congress has the power to mint coin; and yet, somehow they delegated this responsibility to something called the Federal Reserve in 1913.


And now, said Fed is "regulated" by the very banks that control it, the primary dealers, and somehow, they get to charge interest on the debt-money that they create at the stroke of a pen.  And Congress says this is all okeley-dokeley.  So I dunno why anyone could realistically expect Congress to turn around and say, "Hey, this private debt-money thing is bad.  We're going to create sovereign debt-free money, and we're going regulate it right, by God and country!"


I know you yearn for the days of your halcyon youth, LTER, where some sizable minority of public officials actually cared about doing for the good of society.  But those days are gone.  They're not coming back.


Why?  Any hierarchical power structure inevitably attracts (A) the power-hungry; (B) the corruptible; and (C) the sociopathic.  Doesn't matter the 'ism - capitalism; communism; socialism; Jabba the Hutt-ism.


The Enlightenment thinkers acknowledged this problem - the potential for pathocracy - but they were convinced that it could be managed via sufficient legal means.  If the law is strong enough, the institution will not become corrupt.


As smart as those guys were, they were obviously wrong.


Simplistic arguments like "private good/government bad" or "if only we could go back to the 1950s" are archaic.  Something better needs to be invented.

In reply to by LetThemEatRand