You are right. There is not much left in Switzerland, which is valuable. The biggest bank-the "U B S" is now called "United bandits of Switzland". They lost about 40 or 50 B. $ last year, still paying 11 B. boni to their managers-LOL- They must have learned that from wallstreet, I suppose. 2007 was not much better.Switzerland has lost it`s reputation, of beeing a safe place for investments.
Anyway, the people on mainstreet are getting more and more furios, I have seen photos, where they attacked the offices and buildings with paint and sprayers, unusual for swiss people.
Back to the gold-situation: the country used to have about 2200 tons of gold, which is a lot for a small country like Switzerland (about 5/6 mill. people) . But 6-8 years ago,the goverment decided to sell/reduce it gradually (probably under US-pressure , they were blamed to have all the nazi-gold etc.) Now there won`t be more left than 200 or max. 300 tons.
It`s similiar like in England : they sold most of their gold 2001 at 255 $/ounce (it was Brown, as secretary of finance) because they wanted to earn more interest on it. :)probably having it invested with Lehman-brothers or maybe even Madock. -LOL- Now the money has gone and the gold as well, only 300 t. left. Nevertheless, to make a bad thing worse, the english people promoted this moron to become Prime-ministre - unbelievable !! 6 days ago, the ministre of economic in England , Lord Mandelson, made a remarkable statement:
“The banks are fucked, we’re fucked, the country’s fucked!”
That is the original quotation from the "Guardian", an english newspaper. Quite unusual for a Lord - LOL. In other words: GB is bust !! But not only GB. The list is getting longer, almost every week: Iceland is bust, Ireland, Spain, Portugal, Hungaria, Greece, Ukraina, Rumania, Bulgaria, Estland, Lettland Litauen are at least 60 to 70 & bust.
On the frontpage of our german magazin "SPIEGEL" -similiar like Times magazin, this week they had the question: "When is actually the country(Germany) bust ?" --Yeah, we are seeing interesting times ahead of us. I`m an old man- built 1941- and I can still remember the stories, my parents told me about the WEIMAR-Inflation, still having a few Billions at home-from this time as a memory, that`s why I´was consequently buying gold and silver since 2001 physically . Apart from that I bougt call-options on gold in January 2007, which expire 05/2010, and I have some junior mining stocks in my portfolio. For me the best hedge against a hyper-inflation.
GLTY -- Looe
