Saturday, December 14, 2024

Tag: SWITZERLAND TO HOLD REFERENDUM ON MAINTAINING CASH

SWITZERLAND TO HOLD REFERENDUM ON MAINTAINING CASH

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    by Joseph P. Farrell, Giza Death Star:

    The news has not been entirely bad this week, and this story shared by E.E. says why:

    Is Switzerland About To Become First Country To Outlaw A Cashless Society?

    What’s of interest here is the two-fold nature of the referendum:

    At the beginning of last week, a Swiss pressure group with libertarian leanings called the Swiss Freedom Movement (FBS) announced it had collected enough signatures (111,000) to trigger a national vote on preserving cash for posterity. If passed, the initiative would require the federal government to ensure that coins and banknotes are always available in sufficient quantities. What’s more, any attempt to replace the Swiss Franc with another currency — quite possibly a reference to a central bank digital currency — would also have to be put to popular vote.