You may have heard about the Swiss referendum to end fractional reserve lending by Swiss commercial banks. It's a fascinating development for Austrians and libertarians, and it's another example of how average Swiss people can use referenda to force both their central legislature and the twenty-six Swiss cantons to consider their proposals, merely by gathering 100,000 signatures within an 18-month period.
Here to help us understand this from a Swiss perspective is Claudio Grass, a good friend of the Mises Institute, a principal with the Swiss company Global Gold, and a Rothbardian with a great understanding of money and Banking issues.
Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
Claudio Grass is a Mises Ambassador and an independent precious metals advisor based out of Switzerland. His Austrian approach helps his clients find tailor-made solutions to store their physical precious metals under Swiss law. ClaudioGrass.ch.
Jeff Deist is former president of the Mises Institute. He is a writer, public speaker, and advocate for property, markets, and civil society. Jeff was chief of staff to Congressman Ron Paul. Contact: email; Twitter.