Save Our Gold Movement in Switzerland is getting about 40% of the Swiss vote in opinion polls.\u00a0 Although some people have concluded that Switzerland is a business, not a country. the gold initiative represents an income switch inside Swtizerland:<\/p>\n
Income to Swiss exporters and banks who profit on the relatively weak franc would go to the Swiss households, wage earners and low income families.\u00a0 Purchasing power increases when the CHF increases.<\/p>\n
Low income groups are rather in favor of the initiative, while high income earners are against it. In particular, the income groups under 5000 francs are in favor. Switzerland imports a big part of its food and basic necessities from its neighbors. the German discounters Aldi and Lidi have a strong presence in Switzerland.\u00a0 A 10% stronger franc would imply far lower living costs for the low income groups.\u00a0 On the other side, entrepreneurs and high wage earners would have losses on Swiss stocks, when the SNB can no longer manipulate the FX rate. Logically the latter group is against the gold initiative.<\/p>\n
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