Switzerland Gold referendum how it will affect gold?

sammysilver said:
I'm still hurting as a result of the Cyprus blabla, as Pirocco puts it so lightly.

I believe the Swiss move will be a positive in respect to aligning currencies to a base standard. However, the negative impact on currencies other than the Swiss will be enormous, and I wonder what the West will do over the next six weeks in order to abort the process.

I don't say this glibly, I see the Swiss in the line of fire!
Click to expand...

http://www.investorvillage.com/smbd.asp?mb=144&mn=139152&pt=msg&mid=14324095

PayPal has frozen the donation account!
 
A guy on hotcopper this morning reckons that Paypal has blocked him from sending a donation to a crowd who were promoting the 'yes' vote on this issue.


"fter reading Grant William's latest 'Things that make you go Hmmm' I contributed a donation to the Swiss cause who are wanting the SNB to hold 20% of their reserves as gold (to pay for promotion of their campaign against the embedded hierarchy that are openly opposed to it - politicians, SNB and banking sector). Payment was made via PayPal. Today I received a refund with this message:

Note from merchant
Thank you for your kind donation. As you may have heard PayPal has blocked our donations account without warning and our only option is to refund the money. A more detailed explanation and an alternative will be sent by mail. Matterhorn Asset Management."

From the Matterhorn site.


https://goldswitzerland.com/swiss-gold-initiative-2014/

"On Wednesday, October 29, we have received an unexpected simple template notification from PayPal that they can no longer receive donations on behalf of Matterhorn Asset Management AG; that they do not take these decisions lightly and that their decision is final which includes any future regular business. Their formal reasons:

we are not a registered charity in Switzerland
our product is a risk

Under Swiss law we are totally in compliance with our effort to raise funds in support of the goldinitiative. In fact under Swiss law we are not required to be a registered charity to raise funds for any kind of political challenge and PayPal is aware of this.
Since their decision which included limiting all rights to our account, which exception of login, we have asked PayPal 3 questions:

what will happen with the donated funds sitting in our account?
what is PayPal's perception of risk in our product?
why would PayPal, at their own discretion, apply a different law than the law of Switzerland in this case?

Matterhorn Asset Management have received a large number of reactions on this issue and we shall report on this page what progress is being made if any.

Matterhorn Asset Management is a FINMA regulated company and we could and would not accept suspect amounts through the PayPal transfer option whilst any larger donations could only come from a footprint bank account.

During the past two weeks we have received donations from various parts of the world and many from the United States of America. All donated amounts received were typical and averaged in the range of 50 to 100 CHF."

Sounds like garbage to me, I've donated to plenty of crowds that were not 'registered charities'.
 
Read this in todays 07/11 AFR a bank of america analyst reckons that if the Swiss bank is forced to buy gold after the referendum then the price of gold will increase by 18%
13718_swissgoldvotearticle.png

Source: AFR 7/11/14
 
Just for the ad at the start...

[youtube]http://www.youtube.com/watch?v=fWEREUJoiEo[/youtube]

Matterhorn Asset Management's Egon von Greyerz out of Switzerland joins the show for a special episode this week covering the historic Swiss Referendum, discussing:

1. Is the latest PM take-down ALL about the Swiss Referendum and portraying gold in as negative a light as possible to the Swiss people ahead of this month's Swiss Referendum?
2. Egon explains why we are witnessing the FINAL EXHAUSTION in Gold & Silver Manipulation!
3. Paypal shuts down account for Swiss Gold Referendum, confiscates funds in Gestapo like move!
4. Trouble brewing in Euroland? Egon predicts there is No chance the Swiss Franc/ Euro peg will hold with a yes vote!
Click to expand...
 
How to make prepping, stacking and wealth preservation sound trite!

Must be related.


p.s. Best Call Saul.
 
It may not have any affect according to zee Germans;

LONDON, Nov 17 (Reuters) - A vote in favour of boosting Switzerland's gold holdings at a Nov. 30 referendum won't necessarily lift bullion prices, Deutsche Bank said in a note, adding there was a "considerable" chance the motion would pass.

The Swiss National Bank could spread out its gold buying, take transactions off market, or use derivatives to cushion gold prices from the impact of a 'yes' vote, Deutsche said.

The "Save our Swiss gold" proposal, spearheaded by the right-wing Swiss People's Party (SVP), would force the SNB to hold at least 20 percent of its assets in gold, make it repatriate gold held overseas and commit never to sell bullion.

A survey last month said the proposal had 44 percent support, short of the majority needed to pass into law. A poll this month showed support had waned.

While the SNB would have to lift its gold holdings by 1,500 tonnes over five years, purchases would amount to 1.2 tonnes per day, Deutsche said, a "small fraction" of daily turnover.
Click to expand...
Reuters
 
Well results are starting to trickle in and doesn't look good for the YES vote will keep you posted for as long as I can be bothered to stay awake.
 
well... it's thier problem. and better prices for us for some time.

however i'd be happier with yes victory.
 
Only 3.9 million people of the 8.1 million population voted.

3.04 million voted against & 858,000 voted for.

Apparently 4.2 million Swiss thought sleeping in on a Sunday was more important.

Dozerz is right the vote was more a vote of trust, the government and SNB were very against the issue and they chose to trust their government. Hey that's never backfired for a country ever... right?.
 
They didnt have to go on sunday. They got papers few days ago, and could send them by post and vode. I have a cousin in Switzerland, he voted via post 3 days ago.
 
there were also 2 other votes that got defeated, taxes on rich foreigners and immigration caps. swiss were also heavily criticised recently for voting yes to curb immigration, no doubt this was also a factor in the no vote. a no vote is also a vote for no change in a highly change averse country.
 
You must log in or register to reply here.
Back
Top