On Tue, Feb 12, 2019 at 08:57:38PM +1100, Zenaan Harkness wrote:
Salvini Proposes Seizing Control Of Italy's Gold Reserves From Central Bank https://www.zerohedge.com/news/2019-02-11/salvini-suggests-seizing-control-i...
Italy's populist de facto leader Matteo Salvini seems set on shaking Europe's financial establishment to the core.
One day after the Italian deputy prime minister and leader of the League party, called for the elimination of Italy's central bank and the country's financial regulator, Consob, saying the two institutions should be "reduced to zero, more than changing one or two people, reduced to zero", or in other words eliminated, and that “fraudsters” who inflicted losses on Italian savers should "end up in prison for a long time", Salvini prompted fresh shocked gasps in Brussels and Frankfurt when he raised the possibility of seizing Italy’s massive gold reserves away from the country’s central bank.
"The gold is the property of the Italian people, not of anyone else," Salvini said in comments to reporters on Monday, according to the FT. …
Beware the age old trope of those behind the scenes assuming or otherwise upholding ignorant politicians, e.g. to encourage by default presumption said politicians (if they DO cause the parliament to seize the peoples' gold) to SPEND said gold on gibs:
So why is Salvini seeking to seize the gold and use it "on behalf of the Italian people"? While there was no clear cut answer, the Italian media reported that the coalition government of Salvini’s anti-migration League and the anti-establishment Five Star Movement, may be considering using part of the central bank’s gold to fund their spending plans.
Salvini countered that while he had not studied the notion of selling Bank of Italy reserves to fund additional government spending in detail, he conceded that "it may be an interesting idea."
Thankfully in this instance, Salvini's cohorts seem to have that coveted second brain cell:
Meanwhile, the close economic adviser of Salvini and Eurosceptic League member of parliament, Claudio Borghi, 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 according to the FT.
The asset (gold, true money) is that which you print your fiats based on - and any government worth their democracy would never concede that power to private (central bank or otherwise) entities - money printing by loans to government is madness - why would "the people" ever concede the power to print their own fiats (assuming fiats are something the people even want)? Not by any sane thought but only by thuggery, corruption and subterfuge! Now if we're going to have governments and artificial entities such as corporations with "backed by the state's gun" monopolies, then those corporations ought (in this context) get their loans from the government so that the interest on said loans goes to the government's gibs programs (along with corporation taxation). With the government owning and controlling the bulk of the gold, that gold becomes the collateral for its loans to corporations - although really in this context governments really only need collateral for loans to one another. But even then, loans to a debtor, if made in any currency other than the debtor's fiats, are essentially immoral/ insane/ not in the interests of the debtor - why concede your own (state/ national) power to issue loans in your own state/ national fiat? There is a world order no doubt about it, victors and debtors, and most of us are debtors, either personally, but certainly by default via our indebted (i.e. corrupted) "governments". And, no doubt, this global debt pyramid is one incredibly impressive feat. Very impressive Mr Burns, impressive indeed! And all in a mere two hundred years or so. Sorry, I mean Rothschilds, not Burns. Yet this impressive feat is of evil, intrigue, murder, corruption, undermine and blackmail. Certainly not built on anything I can conceive of as "Godly". So it's up for grabs folks, muh grits, fellow Souls one and all - by insisting on the repetitive ~80 year fiat pump and dump, essentially the entire deck of cards has been played into a flimsy card house on the table of the world. Why should we, the people, accept anything less than a 100% fiat debt write off? We probably should not of course, barring karma and the need for le average Soul to discover within himself a motivation to survival, to confront, a foundation of one or more principals worthy of living in that expression constituting one's life - something other than indulgent nihilism. Create your world and go well fellow Souls, go well :)