Jester Chat

Jester's Place:

[Jester] HELLO MODS, PEEPS, LURKERS, AND CRITTERS...

[Jester] NOW... I SAW THIS A COUPLE DAYS AGO... INTERESTING GOING'S ON IN SWITZERLAND...

[Jester] November 30: Zero Hour for Gold

[Jester] November 30, 2014. Mark that day on your calendar because it’s likely to be the day that will change the gold market forever. The Swiss people will vote on a referendum that’ll refresh the country’s centuries-long affinity for gold and restrain paper money.

[Jester] Bringing this issue to a vote has been a struggle; the Swiss government and the Swiss central bank strongly oppose the referendum.

[Jester] GO FIGURE... WONDER WHY?
....

[Jester] But the people of Switzerland demanded to be heard.

[Jester] Effects of a Swiss Gold Referendum The ballot includes three key provisions:

[Jester] 1. Prohibit the Swiss National Bank from selling any more gold.

[Jester] 2. Repatriate all Swiss gold from overseas, particularly from the Anglo-countries of the United Kingdom, United States, and Canada.

[Jester] HMMMM... THERE YA GO... WONDER IF WE STILL HAVE IT?

[Jester] 3. Require that at least 20% of the central bank’s assets be actual physical gold bullion.

[Jester] SERIOUSLY? THAT LOOKS A LITTLE LIKE A GOLD BACKED CURRENCY COMING ON... WE'LL SEE....

[Jester] THIS WILL MAKE YOU WONDER WHY AND WHERE IT WENT....

[Jester] Between 1999 and 2003, the Swiss central bank sold about 50% of its gold reserves. And, like the Bank of England, it sold at a rock bottom price of around $200 an ounce.

[Jester] I WISH I COULD HAVE GOT IN ON THAT DEAL...

[Jester] If the Swiss vote yes on the referendum, it’ll have an incredibly widespread effect.

[Jester] For one, Switzerland will be the first developed country this century to restrict the central bank and other policymakers’ ability to print money and expand government.

[Jester] I LIKE THAT... WE COULD DO IT HERE IF THE DANG SHEEPLE WOULD WAKE UP...

[Jester] However, it’s the gold market that will feel the main tremors.

[Jester] Despite its loathing to do so, the Swiss National Bank will be forced to go into the physical gold market and purchase bullion.

[Jester] UBS analysts predict that the Swiss National Bank will have to buy about 1,500 metric tons of gold over that three-year period. That is no small amount.

[Jester] Ole Hansen, head commodity strategist at Saxo Bank, said, “That kind of gold buying would put what we’ve seen recently in China to shame.” To give you some context, in 2013, China purchased 1,176.4 metric tons of gold, according to the China Gold Association.

[Jester] THE REST OF THE ARTICLE IS HERE...   
http://www.wallstreetdaily.com/2014/10/19/swiss-gold-vote-merk/

[BocaLinda] Wow! Go Swiss!

[diditrvyeet] Jester why did they sell 50%, paying off debt or something backdoor

[Jester] diditrvyeet I WOULD GUESS AT THAT PRICE THEY WERE TAKING CARE OF LINING SOMEONES POCKETS...

[Jester] OH WELL... I AM ENCOURAGED SOMEONE IN THE WORLD IS SMARTER THAN WE ARE AND DOING SOMETHING ABOUT IT...

[pokerbrat] Let's hope the voting is clean. I'm not sure it was in Scotland

[Jester] ENTER THE CHINESE... HAHAHAHAH

[Jester] China-led new Bank challenges Japanese, US’ influence

[Jester] Emerging economic powers such as China, India and Brazil have long been demanding greater share of votes in multilateral development institutions like the World Bank, International Monetary Fund and the Asian Development Bank to reflect their recent phenomenal growth. China’s economy is expected to grow to $10 trillion this year, yet its share of votes in the Bretton Woods institutions is only 3.72 percent, compared with 17.4 percent for the United States.

[lulu] I don't see how that puts China to shame comparing 1 year to 3 but looks like their starting to back their currency I like the fact that someone is starting to put the brakes on the central bank

[Jester] THAT KINDA SUCKS WHEN THEY ARE OBVIOUSLY GROWING MUCH FASTER THAN WE ARE RIGHT NOW...

[Jester] The existing situation is frustrating for emerging economies, because less voting power means less say in deciding where funds from these institutions should go. Also, most developing countries are unhappy with the unfair conditions imposed on them by the Western powers.

[mentoredlife] Jester, with all of China's gold production and buying the past few years, any idea what percentage of their currency they could back with Gold. I would imagine they would still be a long way from a 20% backing. Is there any nation that could back their currency at 20% currently?

[Jester] DOES THAT ACTUALLY SAY THE REST OF THE WORLD IS NOT HAPPY WITH US? GO FIGURE...

[Jester] Unwilling to accept the status quo and answering critics, especially the US, that have long argued that China assume greater global responsibilities in areas like climate change and arms proliferation, President Xi Jinping surprised his Indonesian hosts during a state visit last year by initiating the formation of the Asian Infrastructure Investment Bank.

[diditrvyeet] Jester stick a fork in us

[Jester] WAIT A MINUTE.... A SOCIETY THAT SMOKES IT'S OWN CITIZENS AND MAKES PLANS FOR MORE OF IT AND THEY HAVE ISSUES?

[Jester] JUST SAYING...

[Jester] ANYWAY.... HERE IS THE REST OF THAT ONE...  http://thebricspost.com/china-led-new-bank-challenges-japanese-us-influence/#.VFBjcvnF-vR

[pokerbrat] Yes we are the pariahs of the planet

[MTGranny] Jester Jester, Hello, Thank you for your vigilance. I appreciate your efforts so very much. Do you think the IQD/IQN will peg itself to the Renminbi at some point?

[Jester] MTGranny IT WILL NOT PEG ITSELF BUT IT MIGHT GET PEGGED THAT DIRECTION AS SOME POINT AND TIME... AFTER RESET I WOULD SAY...

[pokerbrat] Jester I saw a BRICS story on CNN

[pokerbrat] First time I saw such reporting on western media

[Jester] pokerbrat GOOD DEAL.. NOT SURE HOW LONG IT WILL TAKE THEM TO WAKE UP THAT WE ARE GETTING THE NEWS ANYWAY... EXCEPT FOR THE SHEEPLE OF COURSE...

[MTGranny] Jester That is what I was figuring. So many other currencies are going that way it seems.

[Jester] ON THAT NOTE I BID YOU A SWEET GOODNIGHT...  NIGHT NIGHT...