In Switzerland there are currently two initiatives for a referendum concerning gold coming: “Save our Swiss Gold” and “The Gold Franc”. The main objective is to save the money and the gold of ordinary people against the establishment.
Referendum initiative: “Save our Swiss Gold”
– The SNB should stop selling its gold
– The gold has to be stored in Switzerland
– Gold should represent at least 20% of the SNB assets
The SNB has sold one ton of gold per day during five years. That 1550 tons of the people’s assets in form of gold had been sold for cheapest prices (between 300 and 500 US$).
When the concerned minister was asked where the SNB gold currently is stored, he answered in parliament: “Where this gold exactly is stored, I cannot say, because I do not know, because I do not need to know and because I do not want to know”
Referendum initiative: “The Gold Franc”
After the Swiss economic commission rejected the idea of a gold franc, the gold franc association took the way of the referendum initiative. The initiative will be started after the “Save our Swiss Gold” initiative.
Here the presentation of what a gold franc is from Goldfranc.org
Non-partisan project for the creation of a commodity based supplementary currency to the Swiss franc on a constitutional basis.
Under the proposed parliamentary initiative 11.407 “Establishing a Gold Franc” ¹ the federal government establishes a second official currency in the form of a set of coins with a fixed gold content. The federal government regulates the naming and grants concessions for the minting of coins to suitable institutions and oversees the concession holders.
Benefits and Advantages
Simple: Buying and selling of gold becomes easier and cheaper. The Gold Coin Currency enables everybody, professionals and individuals, at all times to purchase or sell varying amounts of pure gold at a significantly lower cost. Coins of different size will be available, with the smallest containing as little as 0.1g gold in the form of a “Gold Core Coin”.
Practical: Gold coins are a practical and universal means for payment. Gold coins can be changed into any currency desired at the current value of gold. Further they can always be used worldwide as a means of payment for goods and services.
Safe: The gold content of each coin guarantees its value². As an additional official currency the Gold Coin Currency is subject to the same trade and tax laws as the Swiss Franc – both currencies are protected from fiscal levy’s and forgery.
Production, distribution and protection
The production of the gold coins is conducted by private companies with a concession from the federal government. The federal government maintains oversight of production in order to protect and safeguard the integrity of the coins.
The distribution of the gold coins by the licensed institutions is conducted through their branches, vending machines or ATM’s.
The legal protection of the gold coins from fraud and forgery is guaranteed by its constitutional basis.
Other important aspects
The Swiss Franc remains the primary currency while the Gold Coin Currency helps to stabilize the Swiss Franc exchange rate. The current Swiss Franc remains the main means for everyday payments, loans and investments. The Gold Coin Currency is an optimal addition to the Swiss Franc by offering a liquid and crisis resistent investment opportunity. It can also serve as alternative for foreign currency investments and help to stabilize the exchange rate of the Swiss Franc.
The duties and functions of the Swiss Central Bank are not affected. The constitutional mandate of the SNB regarding the issuing and the securing of the long-term value of the Swiss Franc, as well as, the management of the national gold reserves remains unchanged.
The Gold Coin Currency will give Switzerland new prestige. The Gold Coin Currency has the potential to become an attractive, secure and globally popular alternative currency thereby filling a significant gap in the world’s financial system. Its success could prompt other nations to imitate it which would help to restore Switzerland’s past reputation as a first-class and innovative financial centre and thus strengthen Switzerland’s global prestige3.
Promote the idea and realization of their political
To promote and realize the “Swiss Gold Coin Currency“, a politically independent, nonpartisan organization based in Zurich was set up in July 2011 . It consists of members from all over Switzerland, including senior figures from business, politics, media and science.