Prediction: Swiss to Vote on Gold Repatriation

[IdahoCopper]

On 30 Nov, the Swiss will vote on the issue of gold repatriation.

I was thinking that PMs could run up in price beforehand, because part of that referendum requires the Swiss national bank to increase the country's gold holdings. The Boyz would naturally manipulate the price upwards, to wring more dollars out of these purchases. So I began researching the issue.

Some media articles are already priming the pump on the outcome of the vote, by saying polls indicate its a close call. Yea or Nay are purported to be not wide enough apart to predict the vote.

MY PREDICTION: The vote will fail to pass. I base this solely on the media saying it is a close race, and the entrenched interests being against it.

When a vote is "too close to call" the Powers That Be will steal the election, because it is easy to do. A split vote at 60/40, or 65/35 in the polls, is much harder to steal than a 45/55 or closer decision.

[Recyclersteve]

When you mention repatriation do you mean that Switzerland is trying to get their gold back from the U.S. and other places where it is stored overseas? Or are you talking about taking gold back from their own citizens (like what the U.S. did during the 1930's)?

[IdahoCopper]

When you mention repatriation do you mean that Switzerland is trying to get their gold back from the U.S. and other places where it is stored overseas? Or are you talking about taking gold back from their own citizens (like what the U.S. did during the 1930's)?

If passed it requires Swiss gold stored outside of Switzerland to be returned for storage in-country.

It will also require the Swiss national bank to maintain 20% of its reserves as gold. That means it will go on a gold buying spree.

I think it will not pass.

[blackrabbit]

I think you are right, I hope you are wrong.

[Flintlock]

I don't believe it will pass either, but it is still cool that a country is considering it...