Swiss talking about gold franc

[benjamen]

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!

 

[swissaustrian]

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

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/

 

[Jetstream]

I agree. Silver content in coinage would certainly be more affordable and the effect would cover a far broader range.

 

[escobar]

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.

 

[swissaustrian]

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.

 

[pmbug]

GoldMoney’s Andy Duncan has released an excellent interview with Thomas Jacob, President of the Swiss Gold Franc Association — a group campaigning for the reintroduction of physical gold money in Switzerland. The group currently enjoys cross-party political support, and is attracting more attention owing to the eurozone’s debt crisis and central bank money printing (not least from the Swiss National Bank).

Jacob comments that “there is nothing as powerful as an idea whose time has come“, noting that his is a “non-threatening” means of reintroducing gold as currency again. His group is seeking a constitutional amendment in support of this initiative. Jacob calls it a “complementary” currency, and is emphasizing its function as a means of allowing people to save rather than as a medium of exchange.”

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



Their website: http://www.goldfranc.org/

 

[nickndfl]

All of the sudden premiums jumped on gold 20 francs and 100 coronas, but everything else went up too.

 

[pmbug]

It's as is demand is far exceeding supply or something.

 

[Goldhedge]

The general public is relatively apathetic towards pms, on an international comparison Swiss per capita demand for pms is huge, though.

Wait til they can't buy food with fiat...

 

[Joe King]

Wait til they can't buy food with fiat...

That's when the real fun begins.

 

[Ttazzman]

All of the sudden premiums jumped on gold 20 francs and 100 coronas, but everything else went up too.

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

 

[nickndfl]

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.

 

[Ttazzman]

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

 

[Irons]

They already have Gold francs. Several, actually.