Views: 7888|Replies: 7

First it was Venezuela, then Germany And now the Swiss [Copy link] 中文

Rank: 6Rank: 6

Post time 2013-3-22 22:31:14 |Display all floors

Many countries are still in US-induced slumber and when they awake,
their countries' gold would have magically dusappear .....!

And all their foreign reserves in Weimar US$ would go way south to nothingness
in the greatest US Con of the century ....

                             ----------------------------------------------//---------------------------------------

Swiss citizens force a vote to bring Swiss gold back home from the New York Fed

22 Mar 2013
by Clark Kent

A Swiss group has submitted more than 106,000 signatures to the federal authorities, seeking a vote on stopping the sale of gold reserves held by the Swiss National Bank (SNB). It also wants gold bars stored in the US to be returned.

The group, led by members of the Swiss People’s Party, the far-right Swiss Democrats and the Lega dei Ticinesi movement, is confident a nationwide vote will be called on the issue once the signatures are verified. A date still has to be set by the government.

The collection of the necessary 100,000 signatures over 18 months was hard going but a last-minute effort ensured they reached the goal in time, activists said on Wednesday.

People’s Party parliamentarian Luzi Stamm criticised the sale of gold reserves which started 13 years ago following a decision to abandon the gold standard.

“Gold reserves guarantee the stability of the Swiss franc. They ensure that that private savings, salaries, pension keep their value,” Stamm said.

He warned gold must not be the object of speculation for the SNB or for politicians.

The initiative also seeks to enshrine in the constitution a clause obliging the central bank to keep a minimum of 20 per cent of its assets in gold, twice the current level. Promoters say higher gold reserves will boost the SNB’s credibility.

In addition, they want to force the government to disclose where the gold reserves are stored.

An important part of the reserves are kept in the United States, according to People’s Party parliamentarian Lukas Reimann. He doubts whether the heavily indebted country can be trusted with the Swiss gold.

“It is only in safe hands if it is kept in Switzerland,” he told journalists.

Keeping
prices
stable

The SNB, which has to guarantee price stability in Switzerland, currently holds about 1,040 tons of gold reserves after gradually selling off at least 1,550 tons.

The rightwing campaigners said the bank made a meager surplus off the gold it sold, which went for a “pathetic price” of CHF16,000 ($16,900) per kilogramme on average.

By 2005, the proceeds of CHF21 billion had been distributed among the 26 cantons and the national government.

A previous proposal by the People’s Party to spend all the proceeds on the state’s old age pension system was rejected at the ballot box in 2002. A government plan to use part of it to fund humanitarian projects was also thrown out.

Source: http://www.swissinfo.ch/eng/swis ... _.html?cid=35278920

Use magic tools Report

Rank: 4

Post time 2013-3-23 08:22:43 |Display all floors
Yeah, maybe we're heading towards something bad in the near future (next decade).

Use magic tools Report

Rank: 8Rank: 8

Post time 2013-3-23 15:42:28 |Display all floors
here's an old saying


keep gold in house

soon house gone

.................................taken by thieves and robbers.
I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

Use magic tools Report

Rank: 6Rank: 6

Post time 2013-3-24 16:11:56 |Display all floors

And now Texas too ......

Texas wants to take Physical possession of their gold from NY Fed. $1 Billion worth

Texas has a bill in their house to take physical possession of the state of Texas owned gold from the NY Fed.

In 2011 The University of Texas purchased $1 Billion worth of gold with the help of an asset manager.  At that time it was said "To want physical gold and not paper certificates was a form of anarchy."

“If you own a paper contract where they can only deliver you 10 cents on the dollar or less, you should probably convert it to physical,” said Bass, who isn’t related to Fort Worth’s billionaire Bass family. He said holding cash wasn’t a better choice because the rate of inflation exceeds money-market rates by 2.5 percent to 3 percent, eroding the value of cash.

“The call to take delivery is more of a challenge to the system and it borders on the anarchistic,” said Ralph Preston, a principal at Heritage West Financial Inc., a San Diego company that specializes in futures trading. “It’s like the Republicans trying to overturn President Obama over the birth certificate issue. It’s poor sportsmanship.”

They left the gold at the NY Fed.  Now they want the physical gold in Texas.

Portions:

Call it the Rick Perry gold rush: The governor wants to bring the state’s gold reserves back from a New York vault to Texas.

And he may have legislative support to do it. Freshman Rep. Giovanni Capriglione, R-Southlake, is carrying a bill that would establish the Texas Bullion Depository, a secure state-based bank to house $1 billion worth of gold bars owned by the University of Texas Investment Management Company, or UTIMCO, and currently stored by the Federal Reserve.

“For us to have our own gold, a lot of the runs on the bank and those types of things, they happen because people are worried that there’s nothing there to back it up,” Capriglione said. “So I think this cures a problem before it can happen.

”Physically transporting gold that various state entities own from New York City or other banks to Texas would be impractical from a security and logistics standpoint, Capriglione said. He believes it makes more sense to sell the gold Texas has elsewhere and repurchase it within state lines.

We can take a guess on whose side Capriglione is on and who he works for.  He wants to sell it and then repurchase it?  

How many individual states own physical gold?  Besides countries want to repatriate their gold, the individual states of the United States need to get their physical gold in their state.   

Will Texas get their gold?  I can only imagine there are many threatening phone calls going on right now about this issue.  The threats may stop Texas from repatriating their gold, since we know the gold  is not there.   How many thousands of tons of gold is suppose to be at the NY Fed for states and other countries?   

Do I believe Texas will get their physical gold?  No, I don't.  They will be threatened with their lives for daring to ask for what is rightfully theirs and what they paid for.   With the Fed, you can give them your money, but don't dare ask for it back.  They are the biggest ponzi scheme in the world.  They will sell you something they don't have multiple times.  

It is time for the States to begin standing up to the Ponzi scheme of the Federal Reserve and Wall  Street.   It is time for the States to use their Supremacy Clauses to the unconstitutional Federal Laws.   It is time for the people to stand up and Call for Freedom!   

Use magic tools Report

Rank: 5Rank: 5

Glod Medal August's Best Writer 2012

Post time 2013-3-25 14:19:51 |Display all floors
There was time, when US deposit facilities was safest place to store national gold reserves of other countries.

Maybe now is time to get it back to national treasuries, just in case that global financial market would be "back to gold" when stronger crisis strikes.

Use magic tools Report

Rank: 6Rank: 6

Post time 2013-3-25 18:24:11 |Display all floors

And the Dutch cannot deliver physical gold ....!

                    --------------------------------------------//---------------------------------------

Gold Bank Run Begins? Dutch Bank ABN Amro Halts Physical Gold Delivery!

March 24, 2013

The Cyprus/ Eurozone crisis has just intensified, as Dutch Bank ABN Amro has sent a letter to clients this weekend informing them that they will halt extradition and physical delivery of their clients’ gold holdings effective April 1st!

No worries however, Amro ensures its clients that there is no need to panic or do anything rash (such as remove your phyzz prior to April 1st:
We ensure that we have your investments in precious metals now the new way to handle and administer

Use magic tools Report

Rank: 6Rank: 6

Post time 2013-3-26 18:20:46 |Display all floors

Even a constituent state (which may secede) of the USA is worried about
gold in Federal Reserve's custody ....!

Well, have the central bankers of many slumbering nations started to withdraw
their physical gold from New York Fed, London, Paris, Amsterdam yet before
their gold disappears!?

                       -----------------------------------------//--------------------------------


Texas Law Would Protect Its Gold from Government Seizure

Monday, 25 Mar 2013 08:22 AM
By Michelle Smith

A Texas state lawmaker has proposed a bill that would allow the state to store its own gold in a manner that deem any attempts of government confiscation to be “null and void,” James Rickards, senior managing director of Tangent Capital Partners and author of Currency Wars, told Yahoo.

The state's gold reserves are currently stored in New York under the watch of the Federal Reserve. But Gov. Rick Perry thinks Texas should be keeping watch over its own gold. On the Glenn Beck show, Perry announced that the legislative process to bring the gold home is currently under way, The Texas Tribune reported.

Use magic tools Report

You can't reply post until you log in Log in | register

BACK TO THE TOP
Contact us:Tel: (86)010-84883548, Email: blog@chinadaily.com.cn
Blog announcement:| We reserve the right, and you authorize us, to use content, including words, photos and videos, which you provide to our blog
platform, for non-profit purposes on China Daily media, comprising newspaper, website, iPad and other social media accounts.