LUZERNE, Switzerland (PNN) - August 16, 2021 - Last week it was rumored in the Swiss network that something was happening on the subject of "cash". Stickers were passed around, "love cash" and other statements could be heard on a demonstration in Luzerne. Last Friday the bomb exploded. The Swiss people are launching a popular initiative to secure their francs. The sovereign Swiss people defend themselves against the threatened abolition of cash.
In the future, the government in Switzerland must ensure that there must always be enough cash on hand.
The sovereign Swiss people must vote and decide on a possible change in currency, not the government on its own.
This would be achieved through an a amendment to the Constitution.
To date, the decision to change the monetary system is left to the Swiss government alone.
Extract from the Swiss Federal Constitution:
Art. 99 Monetary and currency policy
1. The monetary system is a federal matter; the (federal government) alone has the right to issue coins and banknotes.
Once their cash initiative has been implemented, the Swiss people would in the future decide for themselves how much cash the federal government would have to make available to cover the need for coins and notes. An abolition of cash could therefore not be realized through the back door as is currently being prepared behind the scenes.