Swiss voters yesterday voted 78% - 22% against a referendum proposal which (among other things) would have required the Central Bank to boost its gold holdings from from 7% of its assets to 20% and never sell them off thus allowing it to continue using its printing press unabated.
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The vote is a blow to the movement to “Save Our Swiss Gold” that had the hopes of moving Switzerland back toward a gold standard which the country left in 1999. Since then, there has been no requirement for the country’s currency to be backed by gold and as a result central bank gold reserves have waned considerably. http://ift.tt/1rLIZoZ |
via International Skeptics Forum http://ift.tt/12c7Mwy
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