A referendum on proposal to give the end the monopoly of private banks on the creation of money and give the central bank the sole power to create money will be held in Switzerland after a petition gained 110,000 signatures.
Switzerland has been a fortress for private banks and is the home of the most powerful private central bank of all, the Bank of International Settlements.
But on December 22, the Swiss federal government has said it will hold a referendum after the Swiss Sovereign Money movement known as the Vollgeld initiative managed to get enough signatures for a proposal to give the central bank the sole power and authority to create money in the financial system.
The referendum represents a landmark in the battle to end the stealth privatization of our money system which is at the heart of our debt and inflationary crisis in Switzerland, the Eurozone, the USA and UK.
The only country with sovereign money is China, which largely explains why it is prospering.
As the Telegraph noted in 2012, switching back to government issued money would “slash private debt by 100pc of GDP, boost growth, stabilize prices, and dethrone bankers all at the same time. “
“It could be done cleanly and painlessly, by legislative command, far more quickly than anybody imagined.
“The conjuring trick is to replace our system of private bank-created money — roughly 97pc of the money supply — with state-created money. We return to the historical norm, before Charles II placed control of the money supply in private hands with the English Free Coinage Act of 1666.
Specifically, it means an assault on “fractional reserve banking”. If lenders are forced to put up 100pc reserve backing for deposits, they lose the exorbitant privilege of creating money out of thin air.
The nation regains sovereign control over the money supply. There are no more banks runs, and fewer boom-bust credit cycles. Accounting legerdemain will do the rest. That at least is the argument.”
The private creation of money in the eurzone is unlawful and unconstitutional. Is is supported by no treaty or law.
The private creation of money is also proving to be a huge security threat because this is how the tiny clique of Globalists fund their criminal operations.