Swiss Voters to Decide on Fractional Reserve Banking in 2018

A thank you to Dr. Warren Coats for passing along the link to this article in CFA Institute. The article points out that sometime in 2018 voters in Switzerland will decide on a referendum which would end fractional reserve banking in that country. Below are a couple of excerpts. The article also includes links to some additional articles debating the pros and cons of such a move.

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"Over 100,000 Swiss citizens signed a petition to hold a constitutional referendum to end fractional reserve banking. Yes, really! That petition was certified on 24 December 2015 and a vote will be held sometime in 2018.

Switzerland, that scion of banking, may vote to end the bedrock philosophy underlying modern finance. The date of the referendum is not official as of this writing, but ballots will be cast on either 4 March, 10 June, 23 September, or 25 November."

The movement is known as Vollgeld and is inspired by . . . . .

Please click here to read the full article on Vollgeld

Readers  may want to look at this speech by the Chairman of the Swiss National Bank

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Added note: Dr. Coats also did this interview he notes on his Twitter feed with Rory Hall of The Daily Coin. They discuss a gold standard, Dr. Coats proposal for monetary system reform using Currency Board rules, and the role of central banks. The interview is just over 35 minutes long and well worth the time for anyone interested in these issues.