Italy Seizes Gold from Central Banks

Two weeks ago, ECB President Mario Draghi issued a statement confirming that the European Central Bank needs to approve any operation in the foreign reserves of euro zone countries, including gold holdings.

At the time the statement did not seem particularly notable, but now things are starting to make more sense as The Wall Street Journal reports.

Italy’s ruling populists pushed ahead this week with efforts to seize control of the central bank and its gold reserves. This is apparently as a result of hundreds of thousands of small individual investors who have lost billions of dollars after several Italian banks failed in recent years.

The anti-establishment ‘5 Star Movement’ and the nationalist ‘League’, depict the central bank as a symbol of a technocratic elite aloof from the needs of ordinary Italians.

 

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Metal Detector Discovers Gold

An amateur metal detector enthusiast scouring the grounds of a field near an ancient Roman road in Dover, Kent has discovered a perfectly preserved gold coin dating back almost 2,000 years. Which is amazing considering the fact that the coin is composed of 24 carat gold.

The ancient Roman gold coin, known as an Aureus, is expected to sell for about $130,000 when it goes to auction later this year.

The enthusiast who discovered the coin initially thought the coin was fake due to its condition until he weighted it. The coin measured 4.31 grams and alerted him that is finding was legitimate.

 

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