Swiss rule on referendums should be adopted here
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Ref: "Swiss gold vote threatens foundations of global currency system", Overdrive, October 31.
First, the National Reform Council should follow the Swiss because in their country, if one can garner 100,000 signatures, one can call for a national referendum. This year, there have been nine referendums in Switzerland, including a successful one approving the financing and development of railway lines.
Referendums would help many opinionated Thais to release tension. The referendum route has always been shot down by Thai officials and over-educated experts blaming the heavy cost.
In this digital age, the cost can be minimised. It would be worth it instead of the wastage of ballot boxes and overtime payments under the archaic system.
Second, initial success on November 30 would certainly boost the current dreary value of gold even though it is still subject to the approval of 26 cantons.
The Swiss government and National Bank strongly oppose the proposal. If successful in total, the bank would have to buy 1,500 tonnes of gold within five years. It is a “quantative easing” for gold and would only marginally affect the global currency system.
If it happened in China, that would be earth-shaking and justify your headline.
Songdej Praditsmanont
Bangkok
