Switzerland – Let’s be Franc
A country with a population equal to the city of New York, Switzerland is best known for its beauty, its cheese and it’s banks.
For hundreds of years the Swiss were also known for their sound banking system and strong government policies which kept the people employed and safe.
Alas, that all changed with the global financial crisis in 2008. The Swiss Franc was too strong against the rest of the global currencies – namely the euro, so the banks began printing money.
In just a few short years the equity ratio (collateral) held by Swiss banks went from 20% to less than 3% and the Swiss aligned themselves with a bunch bat-shit crazy European bankers. See: Christine Lagarde.
But wait, there’s still hope! With a new “gold referendum” on the November ballot, the Swiss have the chance to, once again, require their paper currency to be backed by at least 20% gold. Purchasing power would be stabilized and the bankers wouldn’t be able to control and manipulate monetary policy. The world will be watching on November 30th.
Enjoy Jake Owen – Days of Gold: