A panel of the Swiss parliament is discussing the introduction of the parallel ‘Gold franc’ currency.
Bloomberg has picked up on the news which was reported by Neue Luzerner Zeitung.
The Swiss parliament panel will discuss a proposal aimed at introducing a new currency, or a so-called gold franc.
Under the proposal, which will be debated in the lower house’s economic panel in Bern today, one coin in gold would be worth about 5 Swiss francs ($5.30), the Swiss newspaper reported. The Swiss franc would remain the official currency, the paper said.
The proposal may lead to a wider debate about the Swiss franc and the role gold might again play to protect the Swiss franc from currency debasement.
Swiss talking Gold Franc ?
Swiss Parliament Examines ‘Gold Franc’ Currency Today
http://www.zerohedge.com/news/swiss-parliament-examines-‘gold-franc’-currency-today
SHANGHAI May 28 (Reuters) - Industrial and Commercial Bank of China Ltd is seeking membership of overseas exchanges and aims to become a major global bullion market maker, a senior executive said on Monday.
The Three Signs
The CME Group was involved in three major announcements this week, individually they mean very little but in conjunction say a lot:
The margin requirements for Gold and Crude Oil contracts were cut by 13% and 10% respectively.
They announced a 5 for 1 stock split and extended grain trading hours.
Both CME and Intercontinental Exchange (NYSE:ICE) were designated as systemic by the U.S. Dept. of the Treasury
The margin requirements for Gold and Crude Oil contracts were cut by 13% and 10% respectively.
Clearly JPM and Goldman Sachs need lower margin so they can short more.
Joules every time the exchange lifts margin rates with an uptending contract the friggin nut bag gold bugs scream conspiracy. Even though the SPAN margin specs are there for all to see.
So what are the tin hat nutters going to say now that margin is going down? No comment I bet.
Clearly JPM and Goldman Sachs need lower margin so they can short more.
Clearly you again have shown you do not know about market mechanics - even the basics!
Haha what, prove me wrong - lower margin requirements mean JPM and Goldman Sachs can take bigger positions.
Clueless as usual. Instos don't trade on min margin. But what would you know. You're not even a retail trader.
Haha what? The big investment banks will do everything in their power to bring down gold.
Haha what? The big investment banks will do everything in their power to bring down gold.
So now you are showing, AGAIN, that you do not understand margin. Add another one to the list that SCM is an expert on yet knows nothing. And lacks logic to his argument.
Lower margin requirements mean they will be able to take higher positions. Say it isn't so.
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