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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 409.23-1.0%Jan 7 4:00 PM EST

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To: TobagoJack who wrote (218107)12/1/2025 4:49:23 PM
From: Box-By-The-Riviera™   of 219097
 
Italy’s attempt to reclaim its gold reveals deeper cracks inside Europe’s monetary system. As gold regains importance as geopolitical collateral, national governments are testing supranational rules that once limited sovereign control of reserves.

Italy’s Gold, the ECB, and the Question of Real Central Bank IndependenceItaly’s renewed effort to assert formal state ownership over its gold reserves has drawn objections from the European Central Bank, which argues that such measures threaten central bank independence. In strictly legal terms, the ECB is objecting to legislation that could transfer effective ownership or operational authority over official reserve assets from the Bank of Italy to the Italian Treasury. Beneath that legal dispute, however, sits a deeper institutional tension: meaningful national autonomy over gold reserve management was already surrendered years ago under euro-area treaties and coordinated policy frameworks, raising questions about what “independence” now actually means within the Eurosystem.
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