Switzerland: Referendum on prohibition of gold sales by SNB, storage only in CH, min. 20pct reserves

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11C1P said:
So does this mean it will tumble further or had it already tumbled assuming it would fail?
Click to expand...

Probably tumble a bit.

The general rule is "buy rumor - sell fact" so now that the rumors have been laid to rest with the fact that the initiative failed, you will probably see gold down more in the near term.
 
I'm still amazed it got as far as it did. Is it possible to try again in a year or two?
 
PMBug said:
I'm still amazed it got as far as it did. Is it possible to try again in a year or two?
Click to expand...

Its possible, but unlikely to happen. The margin of no`s over yes`es was too wide to trigger enough momentum for another try in the short term.
 
It`s all paper ballots with handwritten "yes" or "no" votes here. We have no voting machines

See last Sundays ballot, the gold initiative is no. 3 (not my ballot by the way, I have voted no - no - yes) :


Voting is controlled form the top down here. If the major political parties and other strong lobby groups (media, business, unions) oppose an intiative, the chances of passage are minimal. Most voters just follow the recommendations of the institutions they feel attached to.
 
* bump *


Thread is old, but the Swiss recently had a new referendum:
More: https://www.bloomberg.com/news/arti...ect-sovereign-money-proposal-projection-shows
 
disappointing but not surprising result.

Not enough prepared to move away from the central bank model that has served us all so well ........

What will it take for the people to wake up ?
 
I'm afraid that the wake up call is going to be disorderly (ie. catastrophic) in nature.
 
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