You are here
World Gold Council has nothing to say about Swiss gold referendum
... or about anything else that matters. The council won't help gold if it might offend a central bank.
* * *
1,500 Tons of Gold on the Line in Swiss Vote to Buy Back Bullion
By Nicholas Larkin and Catherine Bosley
Bloomberg News
Wednesday, November 5, 2014
There are people in Switzerland who resent that the country sold away much of its gold last decade. They may be a splinter group of Swiss politics, but they're a persistent bunch.
And if they get their way in a referendum this month, these voters will make their presence known to gold traders around the world.
The proposal from the "Save Our Swiss Gold" proponents is simple: Force the central bank to build its bullion position up to at least 20 percent of total assets from 8 percent today. Holding 522 billion Swiss francs ($544 billion) of assets in its coffers, the Swiss National Bank would have to buy at least 1,500 tons of gold, costing about $56.3 billion at current prices, to get to the required threshold by 2019. ...
The World Gold Council declined to comment on the pending initiative. ...
... For the remainder of the report:
http://www.bloomberg.com/news/2014-11-05/prepare-for-gold-rally-if-swiss...
Own Allocated -- and Most Importantly --
Segregated Coins and Bars In Switzerland
Zurich, Switzerland, remains an extremely safe location for storing coins and bars of the monetary metals. If you do not own segregated physical coins and bars that you can visit, inspect, and take delivery of, you are vulnerable. International diversification remains vital to investors.
GoldCore can accomplish this for you.
Read GoldCore's "Essential Guide to Gold Storage In Switzerland" here:
http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland
Email the GoldCore team at info@goldcore.com or call our trading desk:
UK: +44 (0)203 086 9200 -- U.S.: +1-302-635-1160 -- International: +353 (0)1 632 5010
Join GATA here:
Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014
http://www.minesandmoney.com/london/
Vancouver Resource Investment Conference
Vancouver Convention Centre West
1055 Canada Place, Vancouver, British Columbia, Cananda
Sunday-Monday, January 18-19,2015
http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...
* * *
Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
