Swiss Parliament Examines 'Gold Franc' Currency Today

Discussion in 'Gold' started by theiain1, May 22, 2012.

  1. theiain1

    theiain1 Member

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    More evidence gold is moving towards the system..

    http://www.goldcore.com/goldcore_blog/swiss-parliament-examines-‘gold-franc’-currency-today


    This initiative was slated March 9 2011

    Story carried by Marketwatch:

    http://www.marketwatch.com/story/swiss-parliament-to-discuss-gold-franc-2011-07-07
     
    theiain1, May 22, 2012
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  2. thatguy

    thatguy Active Member

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    On of the reasons I am not so keen on golds is that it is physically limited. The tools needed to have gold in a usable form @~$2000/oz are fringing on the ridiculous side IMHO if it goes to $4000 even more. A 1% variance in weight in gold 1oz coins is not uncommon and @$4000/oz that is ~$40 just to show how physical limits can get a tad silly @ high fiat values. Or maybe I am insane :)
     
    thatguy, May 22, 2012
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  3. radiobirdman

    radiobirdman Well-Known Member Silver Stacker

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    Maybe
     
    radiobirdman, May 22, 2012
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  4. Austacker

    Austacker Active Member

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    I find this more interesting, I remember seeing something before but the noise has gone cold. Who in the US is seeing this actually happen or is it just talk ?
     
    Austacker, May 22, 2012
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  5. Byron

    Byron Guest




    If gold content is only 0.1g then i take it most of the coin will be comprised of some other base metal.

    So not a gold 22k or 24k coin like the old swiss Vreneli.
     
    Byron, May 23, 2012
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  6. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Madness! Fixing the price of gold, didn't we try that once, or twice?

    and 0.1g, why even bother?

    Gold is for high denominations and even a $100 coin would only be about 2g.

    Silver is the way to go for small coins and but the old 3p is too small and fiddly for most people, that would be over $1 worth.

    One way would be to go bimetallic, an outer ring of copper or steel and an inner ring of silver or gold. production costs would go up for sure but it would make the coins big enough to see and would protect the softer metals.

    I would rather just have very high denominations in gold, $5 and $10s in silver. Everything else can be cupro nickel.

    Besides, cash is for criminals and tax evaders.


    Also Gresham's Law would come into effect! All the gold 5 Francs would dissapear from circulation in the same way all the Silver 50 cents have dropped out of circulation in Australia.

    Nice try though, very well meaning and I look forward to the day when we can use real money in normal transactions
     
    Jislizard, May 23, 2012
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  7. villiagegate

    villiagegate New Member

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    I think thats the point. They want greshams law to come into effect. They've pegged to the euro for a reason. They're trying to channel of safe haven buying into the gold IMO. This is a very good idea, seperating store of value from unit of account.

    I think this is the way forward.
     
    villiagegate, May 23, 2012
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