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      <h2 style="color:inherit;margin:1.414em 0 .5em;line-height:1.25em;font-size:1.708984375em;mso-line-height-alt:1.708984375em;margin-top:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;font-weight:300;letter-spacing:-.01em;"><br><br>Die Geldpolitik weiterdenken…</h2><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><br><br><em>Liebe Leserinnen und Leser</em></p><p style="color:inherit;font-size:.875em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;line-height:1.38;margin-top:0pt;margin-bottom:0pt;" class=""><em>Wir hoffen, Sie sind wohlauf und bisher gut durch diese turbulente Zeit gekommen. Wie alles steht momentan auch die geld- und finanzpolitische Welt Kopf. Die Geschwindigkeit, in der die Debatten geführt werden, ist schwindelerregend. Was heute gilt, ist morgen schon wieder überholt. Als Überblick und Update haben wir für Sie einige spannende Themen zusammengestellt und wünschen viel Spass bei der Lektüre.</em></p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><em>Beste Grüsse,<br>Maurizio Degiacomi</em></p><p class="" style="color:inherit;font-size:.875em;line-height:1.618em;font-weight:normal;margin-bottom:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><br></p>
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      <p style="color:inherit;font-size:.875em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;line-height:1.38;margin-top:0pt;margin-bottom:0pt;" class=""></p><p style="color:inherit;font-size:.875em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;line-height:1.38;margin-top:0pt;margin-bottom:0pt;" class=""><strong><span style="font-size:inherit;font-weight:inherit;line-height:inherit;margin:0;text-decoration:underline;">Ausschüttungsreserven: Die Diskussion ist lanciert</span></strong></p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">Die Corona-Krise verursacht enorme Kosten. Die Sonntagspresse berichtete am vergangenen Wochenende, dass sich die <strong>Summe mittlerweile auf CHF 100 Mrd. </strong>aufgetürmt habe. Natürlich ist jetzt eine hitzige Debatte darüber entbrannt, wer das alles bezahlt. Und es wird bereits angekündigt,&nbsp; dass wir uns auf ein <strong>jahrzehntelanges Sparprogramm</strong> einstellen müssen, um die gestiegenen Schulden abzubauen.</p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><a href="https://www.nzz.ch/schweiz/finanzminister-maurer-im-interview-zur-corona-krise-ld.1553979" rel="nofollow" style="color:#001dff !important;">Lesen Sie hier ein Interview von Bundesrat Maurer aus der NZZ</a></p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><strong>Aber muss das wirklich sein, oder gibt es auch andere Möglichkeiten?</strong> Kommt ganz darauf an, ob man bereit ist, neue Lösungen zu suchen und Kompromisse einzugehen. Ueli Maurer schlägt im Interview mit der NZZ vor, die jährlichen Ausschüttungen der SNB-Gewinne zum Schuldenabbau zu verwenden. <strong>Ihm folgt nun die Wirtschaftskommission (WAK) des Nationalrats.</strong> Wer in diese Richtung denkt nimmt bewusst in Kauf, dass an anderen Stellen substantielle Sparmassnahmen getroffen werden müssen.</p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><a href="https://www.fuw.ch/article/wirtschaftskommission-will-mit-nationalbankgewinn-schulden-abbauen/" target="" rel="nofollow noopener noreferrer" style="color:#001dff !important;"><span style="font-size:inherit;font-weight:inherit;line-height:inherit;margin:0;text-decoration:underline;">Lesen Sie hier einen Beitrag aus der Finanz und Wirtschaft</span></a></p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">Die Überlegungen der Grünen gehen im Vergleich dazu einen Schritt weiter. <strong>Die Partei möchte nicht nur die bereits beschlossenen jährlichen Ausschüttungen nutzen, sondern fordern, dass die SNB zur Abfederung der Corona-Krise die Ausschüttung der SNB-Gewinne erhöht.</strong> Da die SNB über extrem hohe Ausschüttungsreserven verfügt (aktuell sind es mehr als CHF 80 Mrd.), wäre das durchaus vorstellbar und ohne Anpassung der Gesetze möglich. Statt neue Schulden zu machen und künftige Generationen zu belasten, würde man angehäufte Reserven anzapfen.</p><p style="color:inherit;font-size:.875em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;line-height:1.38;margin-top:0pt;margin-bottom:0pt;" class=""><a href="https://www.blick.ch/news/politik/statt-sparpakete-oder-steuererhoehungen-snb-soll-mehr-geld-ausschuetten-id15858156.html" rel="nofollow" style="color:#001dff !important;">Lesen Sie hier mehr zum Vorschlag der Grünen im Blick</a></p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">Wie <strong>einfach und unbürokratisch</strong> eine Erhöhung der Gewinnausschüttung grundsätzlich möglich ist, hat die SNB Anfang Jahr bereits gezeigt. Es steht ihr offensichtlich zu diesen Beschluss zu fassen, sofern sie es für richtig hält.  </p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><a href="https://www.srf.ch/news/schweiz/hoehere-ausschuettungen-der-snb-die-clevere-taktik-der-nationalbank" target="" rel="nofollow noopener noreferrer" style="color:#001dff !important;">Sehen Sie hier einen informativen Beitrag aus der Tagesschau dazu</a></p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">Wir sind der Ansicht, dass eine Diskussion über die Möglichkeit, die Ausschüttung der SNB-Gewinne weiter zu erhöhen, geführt werden sollte. <strong>Es macht keinen Sinn, die Schulden massiv zu erhöhen, </strong>wenn die SNB auf so riesigen Ausschüttungsreserven sitzt, welche gemäss Verfassung und Gesetz grundsätzlich für Bund und Kantone reserviert sind. Aus diesem Grund haben wir auch die aus unserer Sicht wichtigen Argumente und vermeintlichen Gegenargumente zu diesem Vorschlag in einem Dokument zusammengefasst.</p><p class="" style="color:inherit;font-size:.875em;line-height:1.618em;font-weight:normal;margin-bottom:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><a href="https://static1.squarespace.com/static/5c701df7fd67937e8d911437/t/5ebd52f901cb8b77b415e190/1589465851434/2020-05-14_Ausschu%CC%88ttungsreserven.pdf" target="" rel="nofollow noopener noreferrer" style="color:#001dff !important;">Lesen Sie hier unsere Überlegungen zum Thema</a><br></p>
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<table border="0" cellpadding="0" cellspacing="0" width="100%" bgcolor="#FFFFFF" class="text-section section-content" style="border-collapse:collapse;border-spacing:0 !important;border-color:transparent;mso-table-lspace:0pt;mso-table-rspace:0pt;min-width:100%;width:100%;">
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      <p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;margin-top:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><strong><span style="font-size:inherit;font-weight:inherit;line-height:inherit;margin:0;text-decoration:underline;">Bürgerdividende auf Kantons- und Gemeindeebene im Jahr 2020 wieder aktuell</span></strong></p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">2009 hat die Stadt St. Gallen nach einem Vorschlag von Dr. oec. Reinhold Harringer, dem Mediensprecher der Vollgeld-Initiative, die lokale Wirtschaft mit Gutscheinen angekurbelt. 10 Jahre später&nbsp; ist der Zeitpunkt gekommen, die Diskussion für eine <strong>schweizweite Einführung der Bürgerdividende</strong> als geldpolitisches Instrument zu lancieren. Aus diversen Gründen (<a href="https://static1.squarespace.com/static/5c701df7fd67937e8d911437/t/5ebd543c86ec661588e06887/1589466174248/2020-03-27_Infobrief.pdf" target="" rel="nofollow noopener noreferrer" style="color:#001dff !important;">wie in diesem Schreiben an die Vereinsmitglieder dargelegt</a>) konzentrieren wir jetzt gerade unser Engagement insbesondere auf die Erhöhung der Ausschüttungen der SNB (siehe oben). Die Einführung einer Bürgerdividende bleibt aber ein langfristiges Ziel.</p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">Umso grösser ist daher die Freude, dass die Politik und die Wirtschaft auf Kantons- und Gemeindeebene selber die Initiative ergreifen. In der Unterwalliser Gemeinde Bagnes erhielten alle Bürger am 11. Mai 2020 Geld in Form&nbsp; von Gutscheinen. Auch in der Stadt Gossau und im Kanton Thurgau wird momentan geprüft, ob dieses Mittel zur Ankurbelung der Wirtschaft zum Einsatz kommt. <strong>Sind die Erfahrungen genau so gut wie damals in St. Gallen, dürfte das auch unserem Ziel Aufwind verleihen</strong>, die Bürgerdividende als neues geldpolitische Instrument schweizweit einzuführen. Wir behalten die Entwicklungen genau im Auge und sind sehr gespannt auf die Resultate.</p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><a href="https://www.tvo-online.ch/aktuell/gutschein-aktion-137808745" target="" rel="nofollow noopener noreferrer" style="color:#001dff !important;">Sehen Sie hier ein Fernsehbeitrag</a> zur geplanten Thurgauer Gutschein-Aktion (mit Kommentar von MoMo-Vereinsvorstand Dr. oec. Reinhold Harringer)</p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><a href="https://www.tagblatt.ch/ostschweiz/ein-mittel-gegen-die-naechste-finanzkrise-stgaller-will-einen-volksbatzen-einfuehren-ld.1139453" rel="nofollow" style="color:#001dff !important;">Lesen Sie hier einen Beitrag</a> über MoMo-Vereinsvorstand Dr. oec. Reinhold Harringer und der Idee einer schweizweiten Bürgerdividende</p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><a href="https://www.swissinfo.ch/ger/walliser-gemeinde-verteilt-120-franken-bon-an-jeden-einwohner/45731472" rel="nofollow" style="color:#001dff !important;">Lesen Sie hier einen Beitrag</a> zur Gutschein-Aktion der Gemeinde Bagnes im Wallis</p><p class="" style="color:inherit;font-size:.875em;line-height:1.618em;font-weight:normal;margin-bottom:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><a href="Politik%20will%20mit%20Gutscheinen%20die%20Wirtschaft%20ankurbeln" target="" rel="nofollow noopener noreferrer" style="color:#001dff !important;">Sehen Sie hier einen Fernsehbeitrag</a> zu den Überlegungen einer Gutschein-Aktion in der Zentralschweiz</p>
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      <p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;margin-top:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><strong><span style="font-size:inherit;font-weight:inherit;line-height:inherit;margin:0;text-decoration:underline;">Die Beziehung von Zentralbankgeld (CBDC) und Vollgeld</span></strong></p><p class="" style="color:inherit;margin-bottom:1.25em;font-size:.875em;line-height:1.618em;font-weight:normal;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;">Die internationale Entwicklung des digitalen Zentralbankengeldes schreitet weiter voran. Das ist insbesondere auch für alle Vollgeld-Enthusiasten bemerkenswert, weil es sich beim digitalen Zentralbankengeld um vollgültiges, gesetzliches Zahlungsmittel (also Vollgeld) handelt.</p><p class="" style="color:inherit;font-size:.875em;line-height:1.618em;font-weight:normal;margin-bottom:0;font-family:'DejaVu Sans Condensed', 'Liberation Sans', 'Nimbus Sans L', 'Helvetica Neue', Helvetica, Arial, sans-serif;letter-spacing:-.01em;"><a href="https://forum-geldpolitik.ch/posts/2020/die-beziehung-von-zentralbankgeld-cbdc-und-vollgeld" target="" rel="nofollow noopener noreferrer" style="color:#001dff !important;">Lesen Sie hier weiter</a>…</p>
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