Monday, February 11, 2019 10:41:30 PM
What if Italy's locusts try seizing the gold reserves to spend them ...
Submitted by cpowell on 01:42AM ET Tuesday, February 12, 2019. Section:
Daily Dispatches
... and find only a moth-eaten promissory note from the Bank for
International Settlements or JPMorganChase & Co.?
* * *
Matteo Salvini Talks Up Seizing Control of Italy's Gold Reserves
By Miles Johnson
Financial Times, London
Monday, February 11, 2019
ROME -- Matteo Salvini has raised the possibility of wresting control
of Italy's sizeable gold reserves away from the country's central
(Rothschild incl. Vatican gold) bank in the latest in a series of
threats to the independence of the Bank of Italy by Rome's populist
coalition.- ? -
"The gold is the property of the Italian people, not of anyone else," Mr
Salvini, deputy prime minister and leader of the League party, said in
comments to reporters today.
The comments came after he called for the removal of the leadership of
the Bank of Italy for failing to prevent the country's banking crisis,
prompting Giovanni Tria, economy minister, to defend the independence
of the central bank.
Italian media reports have suggested that the coalition government, formed of Mr Salvini's anti-migration League and the anti-establishment Five Star Movement, were considering using part of the central bank's gold to fund their spending plans.
Mr. Salvini said he had not studied the notion of selling Bank of Italy reserves to fund additional government spending in detail, but that "it may be an interesting idea."
Claudio Borghi, a Eurosceptic League member of parliament and close economic adviser of Mr Salvini, has proposed a law to ensure that the Italian state was recognised as the ultimate owner of Italy's gold reserves rather than the Bank of Italy.
"Nobody wants to sell the ingots, in fact, quite the opposite, we want to prevent others from having their hands on it," Mr. Borghi wrote on Twitter after Mr. Salvini's comments.
Beppe Grillo, the comedian and co-founder of Five Star, last September suggested that Italy could sell off gold to fund higher state spending.
"It would allow us to finally put an end to this annoying story about the fact that 'there is no money,'" Mr Grillo wrote then. "Why do citizens have to sell their necklaces and not the state?" ...
... For the remainder of the report:
https://www.ft.com/content/f16d0aec-2e04-11e9-ba00-0251022932c8
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
http://www.gata.org
To contribute to GATA, please visit:
http://www.gata.org/node/16
God Bless America
Submitted by cpowell on 01:42AM ET Tuesday, February 12, 2019. Section:
Daily Dispatches
... and find only a moth-eaten promissory note from the Bank for
International Settlements or JPMorganChase & Co.?
* * *
Matteo Salvini Talks Up Seizing Control of Italy's Gold Reserves
By Miles Johnson
Financial Times, London
Monday, February 11, 2019
ROME -- Matteo Salvini has raised the possibility of wresting control
of Italy's sizeable gold reserves away from the country's central
(Rothschild incl. Vatican gold) bank in the latest in a series of
threats to the independence of the Bank of Italy by Rome's populist
coalition.- ? -
"The gold is the property of the Italian people, not of anyone else," Mr
Salvini, deputy prime minister and leader of the League party, said in
comments to reporters today.
The comments came after he called for the removal of the leadership of
the Bank of Italy for failing to prevent the country's banking crisis,
prompting Giovanni Tria, economy minister, to defend the independence
of the central bank.
Italian media reports have suggested that the coalition government, formed of Mr Salvini's anti-migration League and the anti-establishment Five Star Movement, were considering using part of the central bank's gold to fund their spending plans.
Mr. Salvini said he had not studied the notion of selling Bank of Italy reserves to fund additional government spending in detail, but that "it may be an interesting idea."
Claudio Borghi, a Eurosceptic League member of parliament and close economic adviser of Mr Salvini, has proposed a law to ensure that the Italian state was recognised as the ultimate owner of Italy's gold reserves rather than the Bank of Italy.
"Nobody wants to sell the ingots, in fact, quite the opposite, we want to prevent others from having their hands on it," Mr. Borghi wrote on Twitter after Mr. Salvini's comments.
Beppe Grillo, the comedian and co-founder of Five Star, last September suggested that Italy could sell off gold to fund higher state spending.
"It would allow us to finally put an end to this annoying story about the fact that 'there is no money,'" Mr Grillo wrote then. "Why do citizens have to sell their necklaces and not the state?" ...
... For the remainder of the report:
https://www.ft.com/content/f16d0aec-2e04-11e9-ba00-0251022932c8
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
http://www.gata.org
To contribute to GATA, please visit:
http://www.gata.org/node/16
God Bless America
My opinions are my own and and DD I post should be confirmed as unbiased
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