Swiss Parliament Examines
‘Gold Franc' Currency Today.
http://www.fxstreet.com/...rket-update/2012/05/22/
Quote:A panel of the Swiss parliament is discussing the introduction of the parallel ‘Gold franc’ currency.
Bloomberg has picked up on the news which was reported by Neue Luzerner Zeitung.
The Swiss parliament panel will discuss a proposal aimed at introducing a new currency, or a so-called gold franc.
Under the proposal, which will be debated in the lower house’s economic panel in Bern today, one coin in gold would be worth about 5 Swiss francs ($5.30), the Swiss newspaper reported. The Swiss franc would remain the official currency, the paper said.
The proposal may lead to a wider debate about the Swiss franc and the role gold might again play to protect the Swiss franc from currency debasement.
The initiative is part of the “Healthy Currency” campaign which is being promoted by the country’s biggest party – the conservative Swiss People’s Party (SVP).
Quote:One of the new gold francs, on the other hand, with a gold content of 0.1 grams, could be purchased for just 5 francs (at current prices) and would mean that gold became more widely owned by ordinary people in Switzerland and could even become a medium of exchange as is happening in Utah, Montana, Missouri, Colorado, Idaho and Indiana in the U.S where gold has become legal tender again or is set to become legal tender again.
Wow! It seems central bankers are now in disarray and no longer reading from the same script...
If this goes without hitches, then the swiss franc will be a top contender for the reverse currency status...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!