After the economic meltdown of 2008, Iceland has impressed the world with their willingness to hold bankers legally accountable for their role in the collapse.
Inspired by Iceland’s progress, activists in Switzerland are now making an important stand against the banking cartels and have successfully petitioned to bring an initiative to public referendum that would attack the private banks where it matters most: their power to lend money they don’t actually have, and to create money out of thin air.
“Switzerland will hold a referendum to decide whether to ban commercial banks from creating money.
The Swiss federal government confirmed on Thursday that it would hold a plebiscite, after more than 110,000 people signed a petition calling for the central bank to be given sole power to create money in the financial system.
The campaign – led by the Swiss Sovereign Money movement and known as the Vollgeld initiative – is designed to limit financial speculation by requiring private banks to hold 100pc reserves against their deposits.” [The Telegraph]
Iceland’s bold strategy has won it favor across political lines. While the U.S. seems unwilling to take the banks to court, governments around the world seem fed up with the stranglehold big banks have on their local economies.
Source: Activist Post