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Swiss National Bank chairman forswears 'tricks' to circumvent gold referendum
SNB Head Says No Sovereign Fund for Gold if Referendum Passes
By Katharina Bart
Reuters
Sunday, November 16, 2014
ZURICH, Switzerland -- The chairman of the Swiss central bank ruled out creating a sovereign wealth fund to manage Switzerland's gold reserves if a referendum on banning the bank from selling them passes, according to a newspaper interview published on Sunday.
The "Save our Swiss gold" proposal, spearheaded by the right-wing Swiss People's Party (SVP), will be put to a plebiscite on Nov 30. ...
Asked whether the SNB could set up a fund to manage its gold, chairman Thomas Jordan said such a move -- which some currency dealers have speculated about -- was "unthinkable."
"The SNB cannot simply use some tricks to circumvent the will of the people. I rule that out categorically," he told weekly paper Sonntagszeitung. ...
... For the remainder of the report:
http://www.reuters.com/article/2014/11/16/swiss-snb-gold-idUSL6N0T60FH20...
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