{"id":292,"date":"2014-10-20T12:17:09","date_gmt":"2014-10-20T12:17:09","guid":{"rendered":"http:\/\/olduvai.ca\/?p=292"},"modified":"2014-10-20T12:17:09","modified_gmt":"2014-10-20T12:17:09","slug":"switzerlands-referendum-on-gold","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=292","title":{"rendered":"Switzerland\u2019s Referendum on Gold |"},"content":{"rendered":"<p><a href=\"http:\/\/www.acting-man.com\/?p=33623\">Switzerland\u2019s Referendum on Gold |<\/a>.<\/p>\n<p style=\"padding: 0px; margin: 12px 0px 12px 0px;\">The Swiss National Bank (which is run by a bunch of Keynesian dunderheads \u2013 not too surprising for a central bank, but somewhat surprising for Switzerland) is trying its best to somehow thwart the upcoming referendum on gold. If the referendum is successful, at least 20% of the SNB\u2019s assets would have to be held in gold \u2013 and the gold would have to be kept in Switzerland.<\/p>\n<p style=\"padding: 0px; margin: 12px 0px 12px 0px;\">Not surprisingly, the central bankers argue that this would \u201cseverely crimp their flexibility\u201d, apparently completely unaware of the irony. Crimping the \u201cflexibility\u201d of central bankers is a good thing after all. They are doing enough damage as it is. We actually are not quite sure what they are complaining about, since they will still be able to create money out of thin air in nigh unlimited quantities.<\/p>\n<p style=\"padding: 0px; margin: 12px 0px 12px 0px;\">However, if they once again more than double the money supply as they have done since 2008 \u2013\u00a0<em>inter alia<\/em>\u00a0to buy up foreign exchange in order to manipulate the CHF\u2019s exchange rate \u2013 they will be forced to buy gold as well to keep the 20% reserve level intact if the referendum succeeds.<\/p>\n<p style=\"padding: 0px; margin: 12px 0px 12px 0px;\">&#8230;click on the link above to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Switzerland\u2019s Referendum on Gold |. The Swiss National Bank (which is run by a bunch of Keynesian dunderheads \u2013 not too surprising for a central bank, but somewhat surprising for Switzerland) is trying its best to somehow thwart the upcoming referendum on gold. If the referendum is successful, at least 20% of the SNB\u2019s assets [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,374,672,774,775],"class_list":["post-292","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-gold","tag-referendum","tag-swiss-gold-referendum","tag-switzerland"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=292"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/292\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}