Last Saturday, Matteo Salvini, Italy’s Deputy Prime Minister, Minister of the Interior, and leader of the ruling League party, shook the financial establishment in Europe to its core when he called for the elimination of the Italian central bank and the country’s regulator, Consob – saying that the two institutions should be ‘reduced to zero’.Salvini also declared that the banking ‘fraudsters’ who inflicted losses on middle-class Italian savers should ‘end up in prison for a long time.’But he didn’t stop there. Just yesterday, Salvini shocked banksters in Brussels and Rome again after he floated the idea of seizing the enormous gold reserves from the Bank of Italy, the country’s central bank according to the Financial Times, in a comment given to Italian reporters on Monday, Salvini stated that “The gold is the property of the Italian people, not of anyone else.”Italian media outlets have suggested that the populist coalition government of Salvini’s League and Di Maio’s Five Star Movement could be considering using some of the central bank’s gold reserves to fund spending plans. Salvini has said that he hasn’t looked deeply into the concept of selling the Bank of Italy’s gold reserves to finance additional government spending, but that ‘it could be an interesting idea.’If Salvini and Di Maio were to monetize the country’s gold, it would certainly bring some much needed financial support to the populist leadership of Italy. After the US and Germany, Italy’s central bank holdings of gold reserves is the third-largest in the world. According to the World Gold Council, Italy’s gold reserves amount to approximately 2,452 tons, which according to today’s prices, amounts to around $103 billion. Salvini’s recent comments against the banking system in Italy have been regarded by EU globalists and Italian banking establishment figures as threatening to the ‘independence’ of the Bank of Italy.The targeting the country’s central bank comes directly after the Bank of Italy issued bleak economic growth forecasts for the year ahead which contrasted numbers that underpinned the populist government’s planned 2019 budget. Last month, it was reported that Italy entered a technical recession during the second half of 2018. The Bank of Italy has slashed its GDP forecast for 2019 to a measly 0.6% in contrast to the 1% growth estimated by the government.The European Commission has also cut Italy’s GDP forecast from 1.2% to a meager 0.2% for the year of 2019. Budget issues are likely to be a renewed source of tension between Brussels and Rome during the upcoming months. Salvini’s latest words mark the most recent in a series of intensifying verbal attacks directed toward Italian establishment figures and European technocrats abroad just ahead of next month’s EU parliamentary elections.
HE better be watching his back real close! I don’t have to imagine; we had a POTUS who threatened to eliminate the Federal Reserve Bank! Anyone remember what happened in Dallas in November of ’63??? THAT’s what happens to those who get in the way of the banksters and it was them and his own gov’t that assassinated JFK!
Fact…If he going to do it, he needs to do unannounced…!
You’ve got that right! Supposedly there have already been thwarted attempts here on Trump for the mere mention of shutting down the Federal Reserve. Scary times, these are!
Well put ,follow the money
Dumping all that gold at one time would crash the price, deatroying the value of the gold everywhere. And it was proven back in about ‘08 that the prices are manipulated in London, so this is a double-jeopardy idea. This is an idea that can get a guy killed.
If Italy reverts to using the Lira and kicks the Euro he is going to need that gold reserve to make the money worth something. As long as the currency is supported by a central reserve the currency is safe. But take away the safety net and the currency becomes worthless.
It’s a sad fact, but the money in our reserves, actually has no backing of gold or any other precious substance! The American dollar at one time many, many years ago used to state that it was redeemable in any bank in either gold or silver. The American dollar derives it’s value by first of all our acceptance of it. Next, our Central Bank surveys the cash flow in the country and establishes what THEY think it should be. by how they think it had ought to be. One person who taught me this truth described it as being the net worth of the entire economy of th USA!
Both Kennedy and Lincoln stood up to the banks to their detriment. Ron Paul couldn’t even get an audit of the so called fed. bank. Ghadfi wanted to turn the continent of Africa back to the gold system and Obama and Clinton took care of that (among other things like gun running). The truth does not get out and we seem on a path of no return when it comes to seeing a few controlling forces taking over. If it can be done in Italy, more power to them. We need someone to stand up to the real power structure here ( and I’m not talking about our president, sadly). A-men.