Swiss talking about gold franc

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

B

benjamen

Yellow Jacket
Messages
1,574
Reaction score
9
Points
0
Location
Migratory
http://www.goldcore.com/goldcore_blog/swiss-parliament-examines-‘gold-franc’-currency-today

"Under the proposal, which will be debated in the lower house’s economic panel in Bern today, one coin in gold would be worth about 5 Swiss francs"

"One of the new gold francs, on the other hand, with a gold content of 0.1 grams, could be purchased for just 5 francs (at current prices) and would mean that gold became more widely owned by ordinary people in Switzerland..."

Discuss!
 
Buying gold bullion coins and bars and gold certificates requires professional advice in Switzerland and some other countries and banks are the largest providers.
Click to expand...

This part of the article is false. Everyone can buy bullion over here. There are no restrictions. It's even exempt from VATs (unlike silver).

The problem is rather - as the article states - that gold coins are too expensive for the little guy and they have therefore decided to propose a coin with 0.1g (1/310 of an oz) gold content.

I wonder why they're not also considering silver.

------------------

Here's is the website of the "healthy currency citizen movement" (in English):
http://www.gesunde-waehrung.ch/e/manifest/index.html .
It's run by the same people who want to stop the SNB from selling it's gold:

http://www.pmbug.com/forum/f2/switzerland-referendum-prohibition-gold-sales-snb-storage-434/
 
I agree. Silver content in coinage would certainly be more affordable and the effect would cover a far broader range.
 
I skimmed that CPM video u posted Swissaustrian. He mentioned in there for some reason the europeans never really liked silver as much as gold. Was curious what are the attitudes about gold and PMs in Switzerland by the avg guy? Its pretty much non existent in the states outside of some hedge funds and investment people.
 
The general public is relatively apathetic towards pms, on an international comparison Swiss per capita demand for pms is huge, though. The problem with these statistics is, however, that Switzerland is a banking hub and therefore a reasonable part of the demand is probably foreigners storing their pms in Switzerland.
A small part of the right wing party (conservative party = SVP; endorses economic freedoms, but is for the enforcement of social norms by government ) is strongly advocating pms. Their support is growing, especially since the SNB sold half of our gold for $400-700/oz and now even pegged the CHF to the EUR. They're intellectually influenced by Ferdinand Lips, the author of the famous book "gold wars" (http://www.fame.org/goldwars.htm ), who had been complaining about the gold sales and the destruction of banking secrecy even during 1990s.
 

http://www.silverdoctors.com/reintroduction-of-physical-gold-currency-an-idea-whose-time-has-come/


Their website: http://www.goldfranc.org/
 
All of the sudden premiums jumped on gold 20 francs and 100 coronas, but everything else went up too.
 
It's as is demand is far exceeding supply or something.
 
nickndfl said:
All of the sudden premiums jumped on gold 20 francs and 100 coronas, but everything else went up too.
Click to expand...
that just means they cant resupply stocks at current premiums.......IE no one will sell them at the previous numbers and are holding back supplies
 
The Euro soverign equivalent to USA pre-1933 spiked and some of us always thought they were under valued relative to everything else except bars.
It's the odd weights and purity that turned some people off, but they are more interesting than common modern bullion.
The Mexican stuff is completely outrageous considering it was considered second class pre-pandemic and now has some of the highest premiums on the planet.
 
i think the small common man that is starting to be interested in gold these days cant afford big coins and is willing to pay up to get fractionals and really doesn't totally understand the premium structure and most people struggle with cash flow anyway...........bigger boys and young professionals dont understand the concept of if you dont hold it you dont own it and will call their broker and buy shares of GLD and skip premiums all together....obviously i am generalizing
 
You must log in or register to reply here.
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more…