Replies to post #35200 on GOLDBUGS AMEX Goldbugs Index (GOLD)

[eik]

Just two points to consider:

1. Unlike Germany or Netherlands Switzerland basically doesn't keep any gold in USA. "Currently, the Swiss National Bank holds 70% of its gold and 20% is held with the Bank of England and 10% is held with the Bank of Canada." http://www.forbes.com/sites/kitconews/2014/10/27/switzerland-gold-referendum-a-healthy-conversation-ron-paul/

2. "Yes" vote would mean that Swiss National Bank should increase its gold reserves to 20%. This could be done in different ways: by buying more gold (which everybody expects they would do), or by selling part of Swiss currency reserve to bring the ratio of gold reserves to 20%, or both (most likely). If Switzerland starts selling its currency reserves than euro will crush, USD go up, and gold price drops.

[the cork]

Window Dressing. I don't believe any gold was transferred.

De Nederlandsche Bank makes a statement that nobody independently verified.

The various "news" agencies pick up on it and it gets passed around as if it were true.

It's just the latest attempt to "manufacture" non-existent gold. The deception never stops.

Who benefits from such a statement?

The US gets to parade around like they still have everybody's gold they (we) were entrusted with, the Dutch get to give the world they illusion they have more than they really have, and shut up the citizenry that wants that pesky repatriation issue.... without having to do ANYTHING! Except Lie, which is nothing new. Pretty slick!

The Dutch and the US support each others lie, and both sides benefit. Not to mention the mileage they will try to extract down the road in terms of propping up the dollar and every other currency that's pegged to it.

I hope nobody gets taken in by that BS, but history suggests the media will support the lie, hook, line, and stinker.