|
The party's initiative, known as "Save Our Swiss Gold," would go to a vote among Swiss citizens within the next few years. It would require Switzerland's central bank to keep at least 20 percent of its assets in gold, and all of those on Swiss soil. As of the start of 2013, just over 10 percent of the central bank's nearly 500 billion Swiss francs ($537 billion) in assets were gold. Jordan said the bank has never ruled out making future gold purchases, but having a high proportion of its assets in gold would increase its balance sheet risk. That would likely reduce the central bank's profits, which are passed on to the federal government and each of the nation's 26 cantons (states). Keeping some of the gold reserves abroad, he said, "ensures that the SNB can in fact access its gold reserves, especially in an emergency."
[Associated
Press;
Copyright 2013 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor