A closer look
Right up until the year 1999, the European nation of Switzerland officially legally required that at least forty percent of its circulating national currency be strictly backed by actual, physical gold reserves kept safely in giant vaults. They were the very last major global economy to finally abandon the gold standard and fully embrace fiat currency, reluctantly accepting the modern economic reality that money is actually just a shared psychological delusion heavily enforced by central banks. The Swiss essentially looked around at the rest of the world trading imaginary, unbacked numbers on computer screens, shrugged their shoulders in defeat, and decided to join the global Ponzi scheme. It is genuinely hilarious that the country most famous for being a paranoid, ultra-secure haven for the world's most secretive billionaires finally gave up on trying to anchor their wealth to something tangible, proving that imaginary money is just too convenient to ignore
