SNB speaks out against 'gold initiative'
Referendum on ‘gold initiative’ to take place on November 30
The Swiss National Bank (SNB) is encouraging the general public to vote against proposals that are going to public referendum on November 30 and would – if passed – strip the central bank of its powers over the country's gold reserves.
The proposals would prevent the SNB from selling gold, force it to hold 20% of its assets in gold and require the repatriation of all gold holdings to Switzerland. Both the Swiss parliament and central bank have publicly rejected them.
They are being put to a
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