UBS: If The Referendum Passes Swiss Bank Would Have To Buy About 1,500 T Of Gold Over 3 Years.

Oct. 06, 2014 8:38 AM ETGOLD, TRRXF, MUX, GDX, NEM, GLD, SLV, RGLD, AUY, WPM, FCX, RIO, BHP, TECK, VALE, SSRI, PAAS, NG, KGC, EGO, GDXJ, FXI, CU, BVN, PPP, GORO, ASM, HL, AEM, CDE, IAG, HDB, PKX, MT, X, NUE, SCCO, AZC, LIWA, KGHPF, AAUKF, GLCNF
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Contributor Since 2014

Founder of International Lithium Corp. and Chairman and CEO at TNR Gold Corp. MBA. 

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UBS: If The Referendum Passes Swiss Bank Would Have To Buy About 1,500 t of Gold over 3 years.

It is the very good speech, but the most significant here is the place where it is happening: Swiss Parliament. It could be very much the beginning of the global reset.

And who is buying Gold now:

In Gold We Trust @KoosJansen.

 

Swiss Gold Referendum: People of Switzerland Demand Global Gold Recall Despite Central Bankers.
"Mass media is very slow to pick up on this groundbreaking development in Switzerland. Scotland referendum, Catalonia quest for independence will be just orchestrated "democratic noise" compare to this real democracy in action and its implications for the worldwide financial system. China or Switzerland - who will be first to create the gold backed currency now? Read more."
"In a word association game, If I said Switzerland, you might say cheese or chocolate or maybe the alps. But another common item everyone associates with the Swiss is their money. Their banks. Their currency.
Soon, that currency could change in a big way. This November, a Swiss Gold Referendum is going to a vote, and the repercussions, one way or the other, could cast a shadow of uncertainty on the US dollar. Nearly one-third of the Swiss Franc used to be guaranteed by gold reserves, not it's less than 8 percent.
If THIS VOTE goes through, the Swiss will be forced to raise the gold reserve back up to 20 percent.
Joining us today is radio host Charles Goyette. He and Congressman Ron Paul have talked about central banks at great length on his radio show. Today, we'd like to get HIS input on the Swiss Gold Referendum. NextNewsNetwork"

Kitco:

"There is already support for this referendum and I am expecting the gold market to start paying more attention, especially if the polls show the vote will be close," said Hansen.Currently, according to data compiled by the World Gold Council, Switzerland holds 1,040 metric tons of gold making up 7.7% of its reserves.In a research note published Sept. 24, Analysts at UBS said that if the referendum passes the Swiss National Bank would have to buy about 1,500 tons of gold over the next three years. "1500 tonnes equates to half of the world's annual production," they said in the report."That kind of gold buying would put what we've recently seen in China to shame," said Hansen. Read more."
Jim Rickards: 16 Intelligence Agencies Have Issued Alarm Report On US Dollar Reserve Status.

It is good time to contemplate on the gold fundamentals while the sentiment in the Gold market is hitting another low and US Dollar seems to be rising with stock markets straight into the sky now. We have now Jim Rickards himself to dissect all ongoing "Currency Wars" which lead us into "The Death Of Money".

Developments in Switzerland and China are coming now right from the pages of Jim Rickards's books. And if you think that Currency and Trade wars in late 1920s are different from what is happening now in Europe with Russia and Ukraine, this video is for you. Read more."

Disclosure: The author is long TRRXF, ILHMF, MUX.

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