Are the Swiss going back to the gold standard?

In a bid to reduce the risks of financial instability, the Swiss are weighing up the possibility of reintroducing a limited version of the ‘gold standard’.

Here’s a flash back to a confidential Reserve Bank of Australia board memorandum from December 1996: “While there is some benefit in holding gold as insurance against a breakdown in the international financial system … it is becoming increasingly difficult to justify being a passive holder of gold. Gold can no longer be regarded as something ‘special’."

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