Switzerland’s Sovereign money initiative could help Catalonia as private banks leave

A referendum in Switzerland on Sovereign money is expected to be held next year and the Vollgeld Intiative has a great website packed with information.


As banks leave Catalonia following their independence vote, the Catalans can ask the Swiss to help with the technical details of introducing introduce Sovereign money and setting up its own public central bank. The government can direct the credit flow away from property bubbles into real world maufacturing, infrastructure and education and so help restore real prosperity to the region.

An interesting table shows the Big Banks in Switzerland create almost half the total money in circulation as loans with interest while having the lowest reserves.


The local, community owned banks, the Raiffeisenbanks, by contrast, create about a quarter of the money in circulation as loans but that is the equivalent to their reserves in the form of saving deposits.

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