Greyerz berättar för Kingworldnews om den planerade folkomröstningen i Schweitz. Guld eller inte guld. Spännande då det kan vara en game changer för guldet.
Halting Swiss gold sales is the first part of the initiative. The second is that all Swiss gold is to be repatriated back to Switzerland. The third part of this initiative is that Switzerland must keep 20 percent of its assets in physical gold.
But, Eric, this initiative is not backed by the Swiss Parliament or the Swiss National Bank. Instead, the people of Switzerland have been backing this movement. Because over 100,000 people pushed for this initiative, there will now be a referendum on November 30th of this year.
Of course we don’t know what the outcome will be, and the Swiss National Bank and the government are against the initiative because it puts an end to their ability to print money and manipulate markets. And of course most governments act against gold in the paper market. This would all come to an end for Switzerland.
Most importantly, the Swiss gold has most likely already been leased out and sold into the market. With virtually no gold left in Western central banks vaults, we know that the manipulation in the paper gold market is living on borrowed time. And once holders of paper gold ask for delivery, gold will rise to multiples of the current price.”