“Now the SNB is fighting on a new front: to block a populist motion that would force it to almost treble the proportion of reserves held in gold. At the end of November, Swiss citizens will vote on an initiative that calls on the central bank to hold at least 20 per cent of its assets in gold; to repatriate any gold stored abroad; and to refrain from selling any gold in future. The initiative seeks to tap into a current of Swiss public opinion that is fiercely proud of the country’s independence, and unsettled by the economic struggles of its neighbours. The government has rejected the idea, saying last year that ‘gold no longer has any meaning for monetary policy’. Parliament voted against it by a large majority.”
http://www.swissinfo.ch/eng/swiss-fight-to-block-public-gold-vote/41061340
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