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To be fair, the proposal (if I've read it correctly) is not for all banks to have a 100% reserve requirements - but it's for commercial banks to have that requi
by Pyxl101 11y ago
To be fair, the proposal (if I've read it correctly) is not for all banks to have a 100% reserve requirements - but it's for commercial banks to have that requirement. The central bank can still create money on a fractional reserve basis.
I agree that this seems like an unusually technical topic to subject to referendum.
- dogma1138 11y agoThe Swiss hold referendums on most big issues, every year they have quite a few of them and this has been going on for about 150 years, direct democracy is quite big there as it seems. https://en.wikipedia.org/wiki/Swiss_referendums,_2015 https://en.wikipedia.org/wiki/Swiss_referendums,_2015 https://en.wikipedia.org/wiki/Swiss_referendums,_2014 https://en.wikipedia.org/wiki/Swiss_referendums,_2014 https://en.wikipedia.org/wiki/Swiss_referendums,_2013 https://en.wikipedia.org/wiki/Swiss_referendums,_2013 https://en.wikipedia.org/wiki/Swiss_referendums,_2012 https://en.wikipedia.org/wiki/Swiss_referendums,_2012 https://en.wikipedia.org/wiki/List_of_Swiss_federal_referendums https://en.wikipedia.org/wiki/List_of_Swiss_federal_referend...
- mattlutze 11y agoIt looks like a lot/most/all(?) of these, if categorized, would be "public moral position" questions. 2015 and 2014, at least. I wonder if bank reserve regulations really falls into that as well?
- dogma1138 11y agoFederal law on radio and television Against mass immigration Financing and development of railway infrastructure JAS 39 Gripen (Swedish fighter jet) procurement Non-renewable energy tax Fixed book price agreement Foreign treaties Hospitality industry VAT initiative Gold reserves And my 2 favorites... Increase petrol station shop opening hours Music lessons Seems much more than just "public moral position" questions to me.
- colordrops 11y agoFunny that you call the details of a control mechanism used by moneyed elites, which is not particularly complicated, an "unusually technical topic". It's unfortunate if you are right.
- lxgr 11y ago> The central bank can still create money on a fractional reserve basis. The central bank does not even need to hold fractional reserves: As the entity creating base money, it can literally create that out of thin air. Of course, history has taught that unlimited money creation is usually a bad idea, so usually base money is now backed by public or private debt, but this idea is distinct from fractional reserve banking.