Markets

Swiss voters rejected a radical move to change the way money is created

Swiss voters have rejected a radical reform of their banking system, which would have moved control of money creation from private to public hands. The Vollgeld reform was vetoed in a referendum on Sunday by a vote of 76% opposed. Executive bankers and other opponents have expressed relief after calling […]
Swiss voters rejected a radical move to change the way money is created
Markets

Switzerland is about to vote on whether to send its financial system back to the Dark Ages in a referendum to ban banks from creating money

A referendum in Switzerland could fundamentally change the country’s monetary system. The vote will be on the introduction of the sovereign money initiative, which aims to end fractional reserve banking in Switzerland. A fractional reserve banking system allows lenders to electronically create money to lend to borrowers. The Vollgeld Initiative […]
Switzerland is about to vote on whether to send its financial system back to the Dark Ages in a referendum to ban banks from creating money