The Swiss Vollgeld Referendum Is Step One To Real, Global Financial Reform
- The June 10th Swiss Vollgeld referendum, if passed, would stop money creation by Swiss banks.
- This change would also reduce bank leverage, which, in addition to opacity, is the reason for past, recent, and future financial crises.
- The Swiss change in banking would quickly spread to banking systems across the world.
- It would represent an important step toward adopting Limited Purpose Banking (LPB), which would eliminate all leverage by financial middlemen as well as the opacity under which they operate.
- Unlike Dodd-Frank and other so-called post-2008 financial “reforms,” LPB would end financial crises for real and for good.