Sepp Hasslberger: Swiss Citizen’s Initiative to Take Money Creation Away from Commercial Banks

03 Economy, 11 Society, Money
Sepp Hasslberger
Sepp Hasslberger

Citizens’ initiative in Switzerland to take money creation away from commercial banks. Next step is debate and then a referendum of all Swiss citizens.

Swiss citizens’ initiative collects 105,000 signatures, triggers referendum on Money Creation

With the full power of new money creation exclusively in the hands of the Swiss National Bank, the commercial banks would no longer have the power to create money through lending. The Swiss National Bank’s primary role becomes the management of the money supply relative to the productive economy, while the decision concerning how new money is introduced debt free into the economy would reside with the government”, reads the official website of the initiative.