Wednesday, November 26, 2014

Tyler Cowen on the Swiss Gold Referendum

The commander of Koch-funded economics, Tyler Cowen , lists three quite reasonable referendums that are up for vote in Switzerland:
The most contentious may be one put forward by a group called Ecopop, which would limit immigration to 0.2 per cent of the resident population. That has alarmed businesses, who worry it would make it harder to hire skilled staff and sour relations with the EU, which is Switzerland’s largest export market.
Another initiative would force the central bank to hold 20 per cent of its assets in gold, as well as ban it from selling any of its holdings of the metal. Gold bug supporters say it would strengthen Switzerland’s independence but the central bank has warned it will make harder its job of ensuring economic stability. 
And the third would scrap the system of tax privileges for wealthy foreigners that prompted such people as Michael Schumacher, German Formula 1 racing driver, and Ingvar Kamprad, Swedish Ikea founder, to call Switzerland home.
And then declares:
  I am hoping they all fail...

For a more sound take on the gold Swiss referendum, see:  PETER SCHIFF: All eyes should now be focused on the Swiss voters.

RW Note: The passage of the Swiss gold referendum would be a great thing, however, the last poll numbers I have seen suggest the referendum will not pass.

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