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Now, in Switzerland, efforts are underway to create an official Gold Swiss franc (GSF) with a set of coins, each with a fixed content of gold. The proposed constitutional change would permit private institutions to issue an unlimited number of coins whose appearance, content and weight of gold, and definition would be under the supervision of the Swiss government.
“The primary purpose is to make it easy for the Swiss people to use or hold gold as an alternative to the Swiss franc and all other currencies,” explains Thomas Jacob, the man behind the gold initiative who now heads the newly founded Goldfranc Association.
In addition, Jacob believes the free coinage of Gold Swiss francs may alleviate the upward pressure on the Swiss franc. In the past year, it has shot up 15% against the euro and about double that against the dollar as people all over the world sought refuge in the Swiss currency.
The creation of a Gold Swiss franc and the free coinage thereof, along with the repeal of taxation by the U.S. of gold and silver coins used as legal tender, would liberate market participants to generate spontaneously a new monetary order. With government barriers removed, people all over the world will find ways to use gold-backed money to facilitate the exchange of goods and services with their counterparts anywhere in the world, and to engage in saving and investing, lending and borrowing using monies whose value would be anchored in the remarkably stable and trustworthy purchasing power of gold.
Originally posted by ReptilesAreAmongUs
We should start doing the same in the united states if we want to save the country.
Originally posted by TheWalkingFox
reply to post by hawkiye
Well, more accurately it's a proposal to start doing so. And as you say, it's only "of a sort." The proposal allows for coins that have some gold content. Hardly the sort of thing that the goldbugs on ATS hope for.
Originally posted by eldard
Or this is just bait for the world's gullible investors? Once everyone parks their money in Switzerland, then BAM! Global war and seizure of all of the money.