Switzerland rejects plans to limit immigration and to hoard gold

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If the plan would have passed than the Swiss National Bank would have had to buy within the next 5 years a massive amount of gold. This action could have had many side effects and market analysts believe that the global price for gold would have most likely increased as a result. Switzerland’s population is currently 8.2 million, as it has grown by over a million in 20 years. The proposal to limit the number of total yearly immigrants to 0.2 percent of its population didn’t also pass. Only 26 percent of the total voters expressed their vote for the proposal.

This last proposal would have meant, if it would have passed, that the current immigration count which is now currently estimated at close to 80000/year to be slashed to just 16000 immigrants per year. The “Ecopop” initiative would also have forced Switzerland to reduce population growth in poor countries by devoting a large part of its foreign aid to programs especially aimed at this. According to the same pollsters the third national referendum which would have had removed the current tax exemption discounts rich foreigners currently have was also defeated. Later this Sunday these official results will be published.

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