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  #81  
Old 16.05.2018, 18:12
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Re: Vollgeld initiative - 10 June vote

Must admit I have difficulty in understanding how the proposed system will work in practice.

If the banks have to keep customer deposits in cash then they will have to start building some very big vaults; or did I miss the point somewhere?

Does this only apply to Swiss Francs? So if people deposit other currencies in Swiss banks than would these banks be able to continue their current practices with these deposits so creating money. If so, then how will these banks be safer?
It is difficult to find figures but it seems foreign currency deposits in Swiss banks exceed CHF deposits.

Finally I did not yet find a plan of how to transition from the existing systems to the new one (reminds me of Brexit)? Will we have to repay our loans and mortgages to the banks in cash; which cash does not anyway exist!

Edit: I did find this "The implementing regulations shall stipulate that on the date when the new rules come into
force, all book money in transaction accounts shall become legal tender." So does this mean there will be a huge expansion in the amount of legal tender in circulation which presumably will decimate the CHF exchange rate?

Edit2: also found " The Swiss National Bank shall create sufficient currency reserves from its revenues; part of these reserves shall be held in gold." So this system is not risk free, it does have the risk of fluctuating gold prices?
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  #82  
Old 16.05.2018, 18:28
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Re: Vollgeld initiative - 10 June vote

I'm not sure either. If the banks are just a middle man, instead of just booking the journals when they want to lend, they have to contact the SNB who then create the money and transfer to the banks, then surely it is no different except you've introduced an automatic intermediate step?
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  #83  
Old 16.05.2018, 18:35
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Re: Vollgeld initiative - 10 June vote

And what would it cost to have money in the bank.

If a bank is not allowed to invest with it but only allowed to store it, I wonder what this will do with the costs of for example a bank account with on average 25.000,- on it. Not to mention that interest cannot exist anymore on bank deposits since they cannot lend it out, not so evil now interest is low, but what if interest is 5% in the future? I'd be certain to put my money into a German bank account and with me many others, in such case causing a tremendous outflow of money.

This plan leaves so many questions open that I cannot see it gaining a majority, the Swiss don't like financial insecurities, and this would be huge, and if it fails it could be disastrous.
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  #84  
Old 17.05.2018, 03:16
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Vollgeld Initiative - CH Vote to Eliminate Globalist Banktsers

Switzerland – A Once-in-a-Lifetime Chance to spreading Positive Banking News to the World


By Peter Koenig for The Saker Blog

Last edited by Ace1; 17.05.2018 at 07:55. Reason: replaced cut & page text with link previously posted here
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  #85  
Old 17.05.2018, 05:57
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Re: Vollgeld Initiative - CH Vote to Eliminate Globalist Banktsers

Yes, we had that discussion already here......
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  #86  
Old 17.05.2018, 07:07
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Re: Vollgeld Initiative - CH Vote to Eliminate Globalist Banktsers

Will those at the back PLEASE keep up?

https://www.englishforum.ch/finance-...ne-vote-5.html
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  #87  
Old 17.05.2018, 07:10
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Re: Vollgeld initiative - 10 June vote

I've looked at the English blurb, and I'm immediately put off by the "it's all a big conspiracy" spin.
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  #88  
Old 10.06.2018, 15:22
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Re: Vollgeld initiative - 10 June vote

It’s dead. According to the Hochrechnung 74% have voted no, in any case there’s a majority of Kantons against it.
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  #89  
Old 10.06.2018, 16:38
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Re: Vollgeld initiative - 10 June vote

There is not even one kanton where a Yes was even close to get a majority.

It actually amazed me that almost 25% thought this was a good idea.
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