I was really hoping that Switzerland would succeed.  It was really a shining light in today’s dark age of civilization.  I know many would disagree with this.  Many believe that Keynesian economics has been successful in reviving our economy and that gold is a “barbaric relic”. They would say that this is a golden age delivered to us by the wise managerial skills of the central bankers.  In my opinion only a government run education system dripping with statism could explain how large numbers of the population could hold this view.  Anyway, I take the opposite position of course.

I look upon the fiat currency as not only barbaric but intrinsically evil.   Fiat by definition is by dictate from state decree.  It is a government granted monopoly on money.  No person in the realm can use any other currency besides what the rulers decide.  Now in our amazing and wonderful system of government, our representatives have decided that a private and completely secret banking cartel called the “Federal Reserve” should be granted this monopoly on money.  If you do not use the money from this private for profit entity and try to pay anyone with anything else, you are a criminal in the view of your government.  What an amazing system for the banking elite.  In the old days, banks had to at least back up their notes in gold, now they are backed up by nothing.  In the old days, gold backing at least put a limit on the amount of money that a bank could loan out because the risk of default would increase the more risky the bank behaved. Now their is no limit to the risks that banks can take.  More loans mean more profits for the bankers.  There is no way this system would exist in a free market but the last thing the corrupt banksters want is a free market where the people could choose their own medium of exchange and banks had to be responsible for risky loans.   I had great hopes that Switzerland would at least start breaking out of this system but it was not to be.

The gold referendum failed, it overwhelmingly failed. 78% voted against the measure. The people were told that this would be dangerous and not allow there monetary overlords central bankers to have the leeway to fraudulently print money at will stimulate the economy.  I guess in some ways it is nice to see this come for a vote but I was hoping for a lot more.  I hope this will come up again because I think as the world’s economies become more unstable and inflation really starts kicking in the calls for backing currency up with gold will be renewed.

Schiff on the Switzerland gold referendum