Bitcoin Forum

http://www.marketoracle.co.uk/Article47837.html (http://www.marketoracle.co.uk/Article47837.html)

https://www.youtube.com/watch?v=M_pzsWNvnK8 (https://www.youtube.com/watch?v=M_pzsWNvnK8)

Well, the voting will probably get rigged just like the Scottish vote lately.

Swiss is a place where tons of fiat rich people store their fiats at. I's against their interest that the fiat scam ends, therefore, I doubt it will happen.

This is hypocrisy at its best. They have stored stolen fiat from all over the world making them poorer, and now suddenly are seeing the fraud.

Well they also stored a lot of stolen gold too! (http://www.economist.com/node/139987)
Not sure if it's still there ;D

Direct Democracy ftw, wish we had their system over here :( we could have stopped Iraq at least partially.

We need some bitcoin propaganda for the Swiss voters.
They will discover that bitcoin is far better than a gold back currency.  ;D

...

What I am curious about re the Swiss referendum is whether the Swiss will be forced to buy 1500 tonnes as I believe they will have to do should it pass.  1500 tonnes is lot of gold (48,225,000 oz).

FOFOA has mentioned that it is hard to buy more than, say, 100 tonnes of physical at once.  Even for a Central Bank, buying large amounts of physical is hard.  And look how much trouble Germany is having getting gold back from the FRBNY...

But, if Switzerland were to "buy" their gold via the vaults of the BIS, and NOT demand that the gold leave the BIS, then maybe buying the 1500 tonnes would be more like buying "paper gold" rather than the physical.  The BIS is in Switzerland (Basle) though, so perhaps that might count as gold stored "in Switzerland".

there is a good chance this will expose the paper gold lies.
unlike Germany if this passes the swiss government has to by law demand the gold back, unlike Germany who just took the bullshit excuses as to why they can't get their gold back.

LOL Swiss is like the bully on the block

Well I think the main reason why Swiss is doing this is because they are getting hit by recession most likely and they want to get more money.

It would take them quite a bit of time to buy that much physical gold.

On Novemeber 30, 2014, the Swiss will go to the polls to vote on a referundum “Save Our Swiss Gold” that, if approved, would require the Swiss National Bank (SNB) to hold 20% of its reserves in gold, repatriate any gold it holds outside its borders and cease selling any of its gold.
https://smaulgld.com/swiss-gold-referendum/

Good luck with that.

No recession, and no BTC. This is old people asking for this in Switzerland because they see the stock market as too volatile. They think their country should stick to less risky investments, things more material, even if the returns are less. So no paper money, no paper gold and no BTC. Only solid gold, at home, in Swiss vaults deep underground.

if they fail to repatriate - the paper gold scam will be finally exposed.

Very interesting.

If the Swiss people vote in favor it could have a massive effect on the price of gold.

Though I''m not sure if the proposal will go through, because the elites have too much to loose. Or it might go through and then elites come up with reasons why it can't be done...

Well, at least people are asked. That's a good thing.

ya.ya.yo!

I believe this was actual Swiss policy for quite awhile until recently, so this is almost a return to the way it was.  The irony is that Swiss Franc is already a very strong currency, during the Euro crisis the Swiss placed a hard limit on how much they would let the franc rise against it.

Nah, they'll just accept gold IOUs because the Dollar.

This is fantastic news. Encouraging to know at least 1 country sees the danger of a world economy pegged to the American funny-money dollar which is created out of thin air by a corporation lending to itself while taking an 6% cut on every dollar they print up.   ( http://www.newrepublic.com/article/116913/federal-reserve-dividends-most-outrageous-handout-banks  )

I really don't know if I am going to be happy with this news or be sad with it.

The germany gold does not exists anymore. US-gouvernment sold it over Hongkong traders over the last years/decades. Nothing more than a "Show room" is left with a handfull nuggets in.
How believes that germany will ever get back the gold from US is purely naiv.

Yes, i just read yesterday that in Switzerland, they have so many rich that on average every citizen have $581k.  What is more then 10 times more then is world average.

Wise men always choose Gold over bitcoin/money

So are you a wiseman abraham?

I don't understand swiss frac is naturally strong and retains a value in it because it is backed by gold . And why suddenly they need this?

Due to their many close ties to the EU, the swiss have had to keep pace with the euro and debase the franc. That has caused high inflation in some assets like homes I believe and the swiss don't like that. Forcing a higher % of gold backing would make it infeasible to maintain the euro peg at 1.20
An angry clueless mob dictating monetary policy, however, can hardly be of any help.

abrahamlitcoin is a wiseman because he uses litecoin.

Let's see what comes out from this when they vote. It would begin to sound like an advantage to bitcoin