Commodity Trade Mantra

Posts Tagged ‘Gold Initiative’

Swiss Anti Gold Propaganda Questioned - Gold Protects Purchasing Power

A “YES” vote for the gold referendum is a first step towards redressing the imbalance that exists between the SNB & people of Switzerland. In a direct democracy, decisions on taxation, membership in trade / political unions & autonomy of currency should be determined by popular vote not decreed or circumvented by central bank edict.

Gold Is A 6,000 Year Old Bubble - Citi's Dutch Strategist Throws Up All Over Gold

If gold is indeed such a worthless insignificant “fiat currency”, then why just two months ago, did Citibank rush to be “reclassified as a spot Market Making Member of the LBMA? Could it be that gold actually has some value to Citi, if nothing else than pocketing commissions from traders, now that the bank’s rigging is no longer possible?

SNB Warning Gold Initiative "Fatal Error Of Judgment" Sparks EURCHF Peg Test

Thomas Jordan, president of the Swiss National Bank, warned adoption of the so-called ‘Save Our Swiss Gold’ initiative would be a “fatal error of judgment.” With the vote looming on Nov 30th, Jordan explains that maintaining stable prices would be harder to achieve if the call for gold repatriation and increased reserves is approved.

Answers To Tough Questions on Gold from Investors

Central bankers have painted themselves into a corner & there is no easy exit from their policy mistakes. Since these issues have not been dealt with effectively & political leaders show no sign of doing so, systemic risk has greatly increased. Sooner or later there must be a reckoning – A major reason why I haven’t given up on gold.

The Secret Reason the SNB Opposes the Swiss Gold Referendum

One of the 3 objectives of the gold initiative is to have all Swiss gold stored in Switzerland. Swiss central bankers maintain it’s imperative to maintain foreign gold storage at major gold trading centers that can be quickly traded in event of a financial crisis. The ‘yes’ campaign counters that its safer to have it’s gold stored in Switzerland.

The Most Important Factor of the Swiss Gold Initiative

In order to meet the regulations should the Gold Initiative pass, the SNB will need to buy 1,700 tons of gold at the market. That equates to roughly $70 billion or CHF 67 billion. And we are talking physical gold. Not futures contracts but the metal itself. Put another way, 1,700 tons of gold is roughly 70% of total annual gold production.

Swiss National Bank Explains Why It Is Against Repatriating Gold

The gold referendum, if it is successful, will be a slap in the face to those elites & so the full-court press ahead of the Nov 30th vote has begun. SNB Vice Chairman explains how a ‘Yes’ vote for the initiative would severely constrain it’s room for manoeuvre in a future crisis, as it poses danger to the conduct of a successful monetary policy.

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