The Swiss To Go Gold And Non-Fractional

[Egg]

If this goes through it would be the first time in who knows how long that gold, itself, is used for currency and, I believe, the only Westernized country that doesn't use fractional reserve lending.

Now, in Switzerland, efforts are underway to create an official Gold Swiss franc (GSF) with a set of coins, each with a fixed content of gold. The proposed constitutional change would permit private institutions to issue an unlimited number of coins whose appearance, content and weight of gold, and definition would be under the supervision of the Swiss government.

For example, the smallest coin would have a face value of 1 GSF and have 0.1 grams of gold in its center, similar to today’s bi-metallic euro coins, and be worth—at today’s price of gold, about $4.00.

Five, 10, 20 and 50 GSF coins would have 0.5, 1.0, 2.0 and 5.0 grams of gold and today would be worth approximately $20, $40, $80 and $200 respectively. Gold Swiss franc bank notes are conceivable, as are GSF bank deposits, but they would have to be 100% backed by gold held by the issuing institution. Credit transactions would be legal, but fractional reserve credit would be forbidden under Swiss law.

http://www.forbes.com/sites/charleskadl ... beginning/

[Escape_Artist]

Sweet... I'm going to buy some wooden shoes and move to Switzerland. Now I just need to learn german and french real quick.

[Egg]

Sweet... I'm going to buy some wooden shoes and move to Switzerland. Now I just need to learn german and french real quick.

Wooden shoes are for the Dutch, I think. They'd look at you funny. But, if you had a ton of gold francs, you'd just be eccentric.

[Escape_Artist]

You never know where you might get into a clog fight.

Clog fighting was a combative means of settling disputes. Clog fighting and its associated betting by spectators was illegal.

They fought quite naked, excepting their clogs. When one has the other down on the ground he first endeavors to choke him by squeezing his throat, then he kicks him on the head with his clogs. Sometimes they are very severely injured.

[Egg]

I just clog slapped someone the other day. She offended my honor by saying that my chocolate was up to Swiss standards.

[Royal]

Egg, do you know off the top of your head the best economies in the world?

After this collapse.

[Egg]

Off the top of my head - in Europe:

Germany and Switzerland are the best. Germany will probably be dragged down by bailing out the Spanish and Italians, etc.

France and England are probably next in line but they have the same problem as Germany (bailing out) probably even worse.

Russia was doing poorly but I believe - believe - they're better. But, better for them, not us. They're straight up about their Oligarchs. The rich live in Moscow, everyone else lives in Russia. HAHAHA!!! Generalizing.

China - but they're so dependent on us, I don't see how they're so well off.

........ we're all kinda fucked at the moment. Some worse than others...

[Royal]

Off the top of my head - in Europe:

Germany and Switzerland are the best. Germany will probably be dragged down by bailing out the Spanish and Italians, etc.

France and England are probably next in line but they have the same problem as Germany (bailing out) probably even worse.

Russia was doing poorly but I believe - believe - they're better. But, better for them, not us. They're straight up about their Oligarchs. The rich live in Moscow, everyone else lives in Russia. HAHAHA!!! Generalizing.

China - but they're so dependent on us, I don't see how they're so well off.

........ we're all kinda fucked at the moment. Some worse than others...

Cool. After I learn mandarin I will look into German.

[Egg]

Probably the hardest European language. The Germans learned their lesson after WWI with their economy. They treat their workers very well, produce a lot, export more than import, don't borrow much.