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Tuesday, August 2, 2011

Swiss gold buying to get back to their stated intention of a gold standard

 The swiss are the only countyr that can feasibly get back to a gold standar quickly.  With torrential deposits from european wealthy tax evaders fearing bank account seizure, they are probably buying gold now.  They have to get back to 40% of currency.  They will not increase currency supply, because it would make the 40% more unattainable.  Unlike japan or US which don't care to try for a gold standard, and are actively increasing the money supply and discussing how to do it more.

From Wikipedia: "The Swiss franc has historically been considered a safe-haven currency with virtually zero inflation and a legal requirement that a minimum of 40% be backed by gold reserves.[9] However, this link to gold, which dates from the 1920s, was terminated on 1 May 2000 following a referendum.[10] By March 2005, following a gold selling program, the Swiss National Bank held 1,290 tonnes of gold in reserves which equated to 20% of its assets.[11]" 

I BET THEY'RE BUYING GOLD NOW WITH ALL THE EUROPEAN TAX EVADERS NEW DEPOSITS

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