The Swiss are set to vote on a new initiative requiring the central bank to keep at least 20 percent of its assets in gold." How would such a measure be enacted and how would it affect Switzerland's economy?
Since the outbreak of the so-called international-credit-market crisis, euphemisms have risen to great prominence. This holds true in particular for monetary-policy experts, who are at great pains to disguise what they are doing.
Fiat money — or, to be more precise, its production — is already a violation of the free-market principle; and fractional-reserve banking amounts to leveraging the economic consequences of fiat money. Austrians favor a money that is freely chosen and operates by market principles.