Published: 2019.03.20. Italian politicians are thinking about selling gold

Italian politicians are thinking about selling gold - Preview

Italian politicians have unleashed a discussion about the ownership and use of national gold reserves.

The first discussions on this topic began during the crisis in Europe in 2011 in countries such as Greece and Cyprus, where the effects of the crisis were most strongly felt. These poor countries of Europe urgently needed money, and they wanted to improve their financial situation by selling precious metal from reserves. For example, Venezuela was also forced to sell part of its gold reserves in order to save the country from collapse. Now Italian politicians have begun to debate about the possibility of selling part of the country's gold reserves.

The gold reserve of Italy is currently 2451.8 tons, which allows it to occupy the third place in the official list of countries-gold holders after the United States and Germany.

Now gold is viewed as a "crisis money", with which you can buy the necessary raw materials (Iranian oil) or pay off national debts (Venezuela). Gold is a universal currency accepted by all countries of the world. The presence of gold in the country makes its financial system sustainable, and therefore inspires investor confidence. Gold is a crisis insurance that is used to correct mistakes in order to start from scratch.