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Swiss party takes on the power of Swiss National Bank!

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posted on Mar, 13 2011 @ 01:10 AM

The popular right-wing Swiss People's Party (SVP) wants to limit the autonomy of the Swiss National Bank (SNB) on decisions outside its core mandate of price stability after big losses on currency interventions.

"If the SNB leaves its actual mission with large currency buys, one must be able to supervise the SNB bosses and if necessary stop them," Christoph Blocher, former justice minister and SVP mastermind, told the SonntagsZeitung newspaper.

"I have the suspicion that Mr Hildebrand wants to play a role at the European or even global level. He pleads for opening and integration which does not belong to his area of competency. He also doesn't rule out tying the franc to the euro," he said.

Mr. Blocher, a member of the right-wing Swiss People’s Party, a party which won the 2007 Swiss federal elections with the highest single vote share for any party in Swiss history has now come out and attacked the Swiss National Bank. The party has proposed new legislation which seeks to cap the independence of this national bank (it will seek to control the SNB) and has called for the head of the SNB to quit from his position.

This outrage comes mainly from the loss of 19.2 billion Swiss Francs in 2010 which is due to ill-fated attempts at fighting the strength of the currency. The head of the SNB tried to defend his actions by arguing it was necessary to fight off deflation from the result of a soaring Franc.

Also the SNB head was being attacked for being a vocal supporter of further integration with the international community which puts the head of the SNB at serious odds with the largest Swiss party that is openly isolationist.

Could this be the beginning of a long overdue war against the elite bankers who think they know how to run our countries? I know that my position on this issue is with Mr. Blocher and the Swiss People’s Party. It is high time to rein in the bankers who have been given far too much power with so little oversight. Enough is enough!
edit on 3/13/2011 by Misoir because: (no reason given)

posted on Mar, 13 2011 @ 01:49 AM

posted on Mar, 13 2011 @ 08:00 AM
Giving it one last merciful BUMP.

posted on Mar, 13 2011 @ 08:13 AM

Originally posted by Misoir
It is high time to rein in the bankers who have been given far too much power with so little oversight. Enough is enough!

This resonated with me Misoir. Banks have become the governments government it feels like. When the big bankers say "Jump", the world powers "jump" in unison. We the people have become "we the numbers". And all banks care about is getting in larger sums of numbers.

The whole world is running amok. Private interests are making U.S. money, why? That's the job of the government. I'm not well versed in all this, but I do know some things aren't right. And we're the ones that are paying for it. Decent, hard working people of all backgrounds.

There's a video that made me feel a little better, I'll share it here. It shows, that we the people can indeed win if we put our minds to it.

posted on Mar, 13 2011 @ 09:07 PM
reply to post by Frontkjemper

Thanks a lot for the video it was a good watch.

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