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‘Gold belongs to the people, not bankers’: Italian govt moves to seize reserves from central bank

 
keybored

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04/08/2019 07:34 AM

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‘Gold belongs to the people, not bankers’: Italian govt moves to seize reserves from central bank
Italy's government is pushing ahead with new laws challenging the central bank's control of the country's reserves. Rome is calling for public ownership of the nation's gold.

The ruling coalition of the anti-establishment 5-Star Movement and the League parties proposed two bills that have evoked nationwide controversy over the country’s long-standing financial and monetary system. One draft law may, reportedly, oblige the central bank’s owners to sell their shares to the Italian Treasury at prices from the 1930s, while the second law is set to declare Italian nationals to be the owners of the Bank of Italy’s reserves.

“The gold belongs to the Italians, not to the bankers. We are ready to battle everywhere in Italy and to bring Italians to the streets if necessary,” said Giorgia Meloni, leader of the Brothers of Italy opposition party, as quoted by the Wall Street Journal.

The 5-Star Movement and the League previously blamed the current system of governing the country’s monetary system for losses of small individual investors caused by the recent downfall of several Italian financial institutions.

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guests

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04/08/2019 07:38 AM
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Re: ‘Gold belongs to the people, not bankers’: Italian govt moves to seize reserves from central bank
j's must fall world wide before all can prosper, g oys cant have guns remember
guests
MissCleo

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04/08/2019 07:42 AM

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Re: ‘Gold belongs to the people, not bankers’: Italian govt moves to seize reserves from central bank
so if people seize gold there will be no monetary system and total chaos.

what the fuck is going on in the world.
Ostria1

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Greece
04/08/2019 07:44 AM

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Re: ‘Gold belongs to the people, not bankers’: Italian govt moves to seize reserves from central bank
Thats a no no situation. I dont trust the banks, but i dont trust the governments either. If they move the gold to the treasury, they will do it to use it for their government needs, not for the people.
Ostria
Anonymous Coward
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04/08/2019 07:48 AM
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Re: ‘Gold belongs to the people, not bankers’: Italian govt moves to seize reserves from central bank
seal
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04/08/2019 08:07 AM
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Re: ‘Gold belongs to the people, not bankers’: Italian govt moves to seize reserves from central bank
so if people seize gold there will be no monetary system and total chaos.

what the fuck is going on in the world.
 Quoting: MissCleo


yeah this could literally just put all the gold into the hands of a few, now powerful, ordinary people.

NOble goal with the exact same result you tried to avoid
Anonymous Coward
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04/08/2019 08:07 AM
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Re: ‘Gold belongs to the people, not bankers’: Italian govt moves to seize reserves from central bank
so if people seize gold there will be no monetary system and total chaos.

what the fuck is going on in the world.
 Quoting: MissCleo


yeah this could literally just put all the gold into the hands of a few, now powerful, ordinary people.

NOble goal with the exact same result you tried to avoid
 Quoting: Anonymous Coward 75758325


if they aren't planning on splitting the physical gold up between citizens there is no point in this
MissCleo

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04/08/2019 08:11 AM

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Re: ‘Gold belongs to the people, not bankers’: Italian govt moves to seize reserves from central bank
Robin Hood.
Raiding the coffers. Great story but in reality it opened the door for worse leadership and harder times.