Gold Bank Run Accelerating…Now the Swiss Want Their Gold Back- All 1040 Tons of It!

January 25, 2013 By The Doc http://www.silverdoctors.com/gold-bank-run-accelerating-now-the-swiss-want-their-gold-back-all-1040-tons-of-it/

With last week’s announcement by the Bundesbank of the repatriation of 674 tons of German gold from Paris and NY over the next 7 years, we predicted that an avalanche of gold repatriation requests would soon be made to the BOE and the NYFed. 
It appears that Switzerland may be next to the game, much to the dismay of the SNB.  The Swiss gold initiative, an initiative to Secure the Swiss National Bank’s Gold Reserves, launched in March 2012 by four members of the Swiss parliament, has grown to 90,000 supporters. 
Once 100,000 supporters are achieved, the Swiss Parliament must take up the referendum. 
The initiative asserts that the Swiss people should have a right to vote on 3 things, none of which will please the banking cartel:

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1. To keep Swiss gold physically in Switzerland (ie repatriate Switzerland’s gold)
2. Preventing/forbidding the SNB from selling any more of its gold reserves
3.  Requiring the SNB to massively increase their gold holdings to a minimum of 20% of its reserves within 5 years, held within Switzerland.
Not surprisingly, the Swiss National Bank doesn’t wish to disclose where it’s physical gold is held, but it may soon be forced to once the initiative achieves 100,000 supporters. 
674 tons repatriated here, 1040 tons repatriated there, pretty soon we’re talking real money! 

From the Post Finance, via google translate:

Gold initiative prepares the SNB headache
by Lukas Hässig – home to Switzerland must get their gold from abroad? The SVP initiative calling for the missing, only 10,000 signatures. The SNB could get into trouble.
“Already in March 2013 is the deadline for the submission of Gold initiative,” wrote the St. Gallen SVP National and co-founder Lukas ReimannAlthough it was with some 90,000 signatures on its way. “But to crack the necessary 100’000, now the use of all is needed.”
Where are the 1,040 tonnes of gold the Swiss National Bank? The question is now being seriously discussed with us. The response of the SNB remains nebulous. Most of it is here, but some lie abroad, said the central bank. “We do not want to be precise,” says SNB spokeswoman Silvia Oppliger. “Maybe we will express more precisely, should the gold initiative come about.”
German gold repatriation provides in USA for red heads
The German Bundesbank initially thought that she needed to accept the emotional issue any further. But so are a growing number of applied citizens and politicians were not satisfied. They put the central bank so long under pressure until it gave way recently. Now bring the Germans back 674 tonnes of gold from the U.S. and from France to England. This corresponds to a value of 27 billion euros currently.
The large gold repatriation of our northern neighbor provides worldwide headlines. «Germany Moving Its Gold Back Home To Satisfy The Paranoid”, headlines the U.S. Internet newspaper Huffington Post; pure populism to appease a population that is seeing ghosts. In Germany, had previously taken hold doubt the actual existence of the gold that is stored in the gold vaults of the Americans. The bars may indeed be covered with a thin layer of gold and otherwise consist of inexpensive iron was feared.
SNB would have to buy up to 100 billion gold
Interestingly, Switzerland has been a long time before the Germans and taken without public vertebral the topic. Circles from the People’s Party launched 16 months ago, the gold initiative. Because the project in parliament remained chance would just started as the last remaining means an initiative, the initiators said then. By referendum, they want to force the SNB to store all the gold in Switzerland and sell no single ton more. In addition to the SNB within 5 years after voting to increase their gold holdings massively so that it accounts for a fifth of the minimum in the whole balance.
At current prices, the rest would go into the money. Currently, the share of gold in all the assets of the National Bank is only at 10 percent. If the SNB reduced its balance sheet is not strong, then it remains a possible adoption of the initiative no other choice than double its gold reserves to 2000 tonnes.
A ton of gold currently costs about $ 55 million. Now can be expected: 2000 tons came to 110 billion dollars, equivalent to about 100 billion francs. By comparison, the SNB now has a capital of 62 billion francs. This does not include higher gold prices that could arise due to the demand of the SNB.
Headache at the guardian of the currency
Where did all that money to come for gold purchases is not clear. It would be nice to reduce the mountain of about 170 billion euros in order to buy gold bars. Only it would take for the many Euros first buyer, and the single currency would yet remain so stable that billion-sales of the SNB would not immediately strengthen the franc against the euro again. This consideration alone makes it clear that the gold initiative although many Swiss arrives, but whose implementation the responsible persons would cause big headaches.