Tag: gold coin

Switzerland’s Long Fight for Fiscal Policy Independence

By Daniel Szewc | Switzerland

Switzerland has long been known for being a fiscally responsible (most often caused by internal competition between the Cantons) banker nation. Yet since the EU has grown in influence, so has their unitarian nature. With this comes an extreme blood-thirst for monotony, as well as a lack of competition.

In March 2011, the European Central Bank in Frankfurt, Germany, pressured the Swiss national bank to cap the swiftly strengthening Franc to the Euro. This was the natural conclusion of Switzerland, which already had ditched the gold standard on the first of May, 2000. How ironic is it, that it happened on the communist holiday of 05/01? This capping, whilst certainly hurting the Franc’s fame as a sure way to keep one’s assets intact in cases of war, lasted for 3 years, until 2014.

In a frantic move by Swiss elites, who sensed that EU leaders were too busy with Middle-Eastern immigrants, tried to also force down the partial re-institution of the gold standard via expanding the national bank’s fractional reserve (modern banking system) banking from an 8% coverage of the Franc’s value in gold to 20%. This would lead to investors being more likely to use the Franc and would help their economy greatly. Yet, as Karl Marx said, “Democracy is the road to socialism”. The referendum failed, with only about 20% of the population voting to support the fiscal counter-revolution.

However, citizens do realize when something was better in the past – there is still hope! Switzerland is going to have another referendum in June, this time proposing the complete abolishing of the Fractional Reserve Banking, and the abolishing of debt currency. The referendum, organised by the Vollgeld Initiative, will have a bigger effect on you than you can imagine.

Right now, a bank may lend you money that it does not have. It “creates” it using computer code, automatically stripping away part of the money’s value, and increasing inflation. All the bank needs to hold is a fraction of the money it lends. This was the reason why many irresponsible banks collapsed in 2008. Most international banks have their main headquarters in the ever-neutral Switzerland. If this referendum gets over half the votes, all of these banks will adopt these rules, making a global difference. Expect the value of money to deflate considerably less.


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Ron Paul Attacks Libertarian Leadership in Response to Controversy

By Ryan Lau | United States

On Thursday, leaders within the Libertarian Party decided Ron Paul will not speak at the 2018 convention. Though the party’s Mises Caucus, a faction dedicated to the beliefs and works of economist Ludwig von Mises, raised enough money for him to speak, leaders nonetheless decided that his appearance does not represent party values, and thus, they gave neither he nor Judge Andrew Napolitano a place to speak. Following the story, Paul spoke harshly of the Libertarian Party’s leadership, as well as the state of the party itself.

A Party Divided

First of all, it is important to note the origins of the conflict between Paul and the Libertarian Party. In 2016, he strongly condemned the nomination of Gary Johnson and Bill Weld for the President and Vice President. Many within the leadership believe this choice to be fair and representative of all voters at the convention. However, there are others who believe that the Johnson campaign skewed the election behind the scenes. In fact, Judd Weiss, Vice Presidential Candidate in 2016 for John McAfee, spoke about the nomination. After Tom Woods published an interview with Weiss on the truth about the convention, key members of Libertarian leadership reacted negatively. Despite this, Weiss affirmed that there was corruption in the nomination process.

In the Tom Woods interview, I was talking about the corrupt and vicious behavior I saw behind the scenes at the Gary Johnson campaign.   – Judd Weiss

Paul’s Exclusion

Not long after, a coordinator declared that “[Paul] has no idea what the LP represents”. This statement ultimately summarizes the party’s rationale in excluding the former Representative from the convention. Paul released a video Thursday detailing his reaction to the news, in which he appeared baffled. In it, he expressed he does not “know exactly what’s going on” with the scenario.

“It used to be that they would ask me, you know, to come, quite frequently,” Paul recollected of previous party leaders. He strongly criticized the notion that a Mises Caucus is now necessary, within a party that formerly boasted an ideology closely resembling that of Mises. “I thought the Libertarian Party would be for Mises,” he mused.

Paul further criticized party leadership for not drawing more votes, believing that standing true to principles leads to success. On the contrary, he accuses party leadership of abandoning these principles. “When you look at the leadership, so often you see that they mellowed away,” admitted Paul. Clearly, this references Johnson and party chair Nicholas Sarwark’s attempts to frame the party as fiscally conservative and socially liberal. However, this method proved unsuccessful, as Johnson won a mere 3.3% of the national vote.

A Future Uncertain?

Following the announcement, Paul appeared to worry about his future within the party. He questioned whether barring him from speaking equated to being shunned from the Libertarian Party as a whole. Not long after, he referenced his lifetime membership fee, which he paid in 1987. The former representative appeared to worry about the status of his payment, if the party continued to reject him.

If they did that, I wonder if it would be okay, if I could ask for my gold coin back? Because I paid my lifetime membership, in 1987, with a gold coin, to make a point. -Ron Paul

Despite his worries, it is entirely possible that, given his track record, Paul may abandon the Libertarian Party entirely. In the past, he has left the Republican party several times, due to breaks in principles and leadership. Now, Paul believes that these same plagues have hit other parties, too.

Reinstating that “leadership is so bad, in all the political parties,” he admitted the possibility of forming an entirely new political party. “That would be interesting. It could be fun,” Paul said of a party built around the principles of the Mises Caucus.

(Image from NYMag.com)