Swiss National Bank to buy Gold for Euros?

Vatic Note:  This now comes as no surprise to me, since Rothschild cabal's bank is in Switzerland as is his international banking headquarters.   Remember, the Bank of International Settlements is located in Switzerland, and its in Switzerland, that these fascist zionists refused the offer made by Hitler to let the Jews, during WW II,  go out from Europe through Spain and we all know what happened because of the Zionists refusal to negotiate with Hitler over their release.

Its not Germany that should pay for the holocaust, its the Zionists of Switzerland that should pay.   Also remember, Rothschild controls the pricing of oil and the oil Bourse has always been in USD which is also held in large amounts b y the Rothschild family.   It was Iran that messed with the oil bourse because of their natural reserves and supplies.   When Iran declared their own Bourse in Euros is when all hell broke loose and now Iran's bourse is no threat to Rothschilds anymore.   The agreement with Iran, brokered by Obama, solved that problem.

Swiss National Bank to buy Gold for Euros?

The Swiss National Bank had accumulated considerable holdings in Euros in the past years. Now it could buy gold in order to diversify the huge amount of Euros from its foreign currency holdings.

The latest gold share of Swiss currency reserves was 7.5 percent. After abandoning the Francs-Euro-peg the SNB could now trade Euros for gold.

Since the start of the new year the gold price only knows one direction: up. With a spot rate of $ 1.272 a gain of 6 percent reflects in the budget since the beginning of the year. Calculated in the european currency at the current rate of 1.105 EUR it’s already 12 percent. Thus, the Euro devalued another 6 percent against the US-Dollar this year.

By abandoning the Francs-Euro-peg the Swiss National Bank (SNB) now retrieved some of its self determination on monetary policy. In September 2011 it began to keep the Euro at a rate of 1.20 Francs, which required substantial purchases of Euros for Swiss Francs (CHF).
Consequently, within four years the SNB’s foreign currency reserves increased by a brief 60 percent, amounting to more than 500 billion CHF. Last October it was said that 45 percent of these foreign currency holding were in Euros, and 29 percent were priced in US-Dollars. Only 38 billion CHF were listed as “gold and gold receivables“, which represented only 7.5 percent of the total currency reserves.  (VN: that is what happens when there is no free market determination, rather an arbitrary pricing by those in control.  It benefits only those in control.)

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