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TND Guest Contributor: Chris Powell |
The campaign in support of the gold referendum initiative in Switzerland on November 30 has been professionalized, erecting a comprehensive Internet site –
http://gold-initiative.ch/aktuell/
– which, while in German, can be automatically translated into English if visited via a Google Chrome Internet browser.
Donations in support of the campaign are being collected at the Gold Switzerland Internet site, operated by Matterhorn Asset Management, whose managing partner, Egon von Greyerz, is a primary proponent of the initiative:
https://goldswitzerland.com/swiss-gold-initiative-2014/
The referendum proposal would bar the Swiss National Bank from selling the country’s gold reserves; require the bank to repatriate Swiss gold reserves from foreign vaults and vault all the national gold reserves in Switzerland itself; and hold at least 20 percent of Switzerland’s foreign exchange reserves in gold.
Essentially the referendum proposal is a democratic revolt against unaccountable central banking and currency market rigging.
The first national opinion poll on the referendum proposal found it leading by 45 to 39 percent –
http://www.gata.org/node/14594
– but most financial institutions in Switzerland, parasitic dependents of the central bank, are likely to pour resources into the opposition campaign, so the proposal’s advocates will need lots of support from Switzerland itself and from around the world. Switzerland imposes no limits on who can donate in support of national referendum campaigns, nor on how much they can donate — and those allied with the central bank have access to infinite money.
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About Chris Powell:
Mr. Powell has been managing editor of the Journal Inquirer, a daily newspaper in Manchester, Connecticut, since 1974. He serves as the secretary/treasurer and a director of the Gold Anti-Trust Action Committee (GATA). Mr. Powell publishes GATA “dispatches” on stories relevant to the precious metals community: click here to access them and the GATA website. For additional information about precious metals, financial markets and the economy a 2 week free trial to GATA chairman Bill Murphy’s subscription service is available by clicking here. This article is reprinted on The News Doctors with permission.