Exciting weekend- going on fundraising; Swiss vote for full money

Gassner's picture

Dear Readers,

The coming weekend has two highlights for me:

1st: On Saturday I participate the second time at Unicef Cycling for Children. Going with my bike in the Swiss alps and cycle there about 800 elevation meters one lap over 20 km. Looking forward to see whether I can do more than one lap this time. Looking even further towards breaking my last year's fundraising of around 1000 USD.

Please make some of your money avalaible for children and support UNICEF (1 CHF arond 1 USD):


2nd: On Sunday Switzerland conducts a public vote regarding full reserve money. Still the projections are as such that the public initiative will not receive a majority, but global polling previously has shown various surprise elections already. Even the Financial Times had a favourable opinion piece by Martin Wolf today asking the Swiss people to vote for Vollgeld:
One argument is the number of financial crisisbeing 147 from 1970 to 2011 as per an IMF database.It deserves even experiments to find better alternatives. The author argued that we want banks to have risky assets and safe liabilities. "Yet the liabilities of a highly leveraged, risk-taking institution cannot be safe and will avoidably seem least safe during a crisis." It is worth reading the arguments from one of the two financial newspapers of our days: https://www.ft.com/content/d27b000e-6810-11e8-8cf3-0c230fa67aec (paywall)

The English website of the initiative is https://www.vollgeld-initiative.ch/english/

The outcome will be very interesting to see and how Switzerland will allow the banks to transform. The Swiss Franc would be more than just one of the most stable currencies but effectively the only one held by central bank. Could this lead to more inflows to Swiss private banks than tax evasion ever catered for? Just food for thought.

All the best,

and please...donate to UNICEF:


Michael Gassner