Jim’s Mailbox

Posted at 4:12 PM (CST) by & filed under Jim's Mailbox.

Great points Wolfgang!

Bill

Jim/Bill,

There 2 points of interest in this article.

Number One:

Yes Virginia, there IS a difference between the State and the Government!  The State is the people, the government is not.

“My bill only aims at making clear that the gold belongs to the state, not to the government,” he said in a telephone interview on Monday.“

“The gold is the property of the Italian people, not of anyone else,” Salvini said in comments to reporters on Monday.”

Number Two:

These numbers show how astonishingly low the price of gold is currently, relative to the indebtedness of countries.

“..the Bank of Italy has the third-largest central bank holding of gold reserves in the world after the US and Germany, owning 2,452 tonnes according to the World Gold Council, which at today’s prices would amount to just over $103 billion.

Of course, even that amount pales in comparison with Italy’s total debt load of €2.35 trillion”

The numbers revolving around debt, not only in Italy but throughout the world, are beyond human comprehension.

Gold at $10,000 an ounce now seems like a trifle!

CIGA Wolfgang Rech

Salvini Proposes Seizing Control Of Italy’s Gold Reserves From Central Bank
February 11, 2019

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.

The controversial comments, which were seen as threatening the “independence” of the Italian central bank, whose one-time head was none other than Mario Draghi, prompted Giovanni Tria, Italy’s economy minister, to defend the independence of the central bank.

Earlier in the day, Italy’s populists called on lawmakers to pass legislation stating that its gold holdings belong to the state, Bloomberg reported.

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Jim,

The USA does not like oil traded out side of the petrodollar.

Dave

Venezuela: Let’s Cut to the Chase
January 2, 2019

Cold War 2.0 has hit South America with a bang – pitting the US and expected minions against the four key pillars of in-progress Eurasia integration: Russia, China, Iran and Turkey.

It’s the oil, stupid. But there’s way more than meets the (oily) eye.

Caracas has committed the ultimate cardinal sin in the eyes of Exceptionalistan; oil trading bypassing the US dollar or US-controlled exchanges.

Remember Iraq. Remember Libya. Yet Iran is also doing it. Turkey is doing it. Russia is – partially – on the way. And China will eventually trade all its energy in petroyuan.

With Venezuela adopting the petro crypto-currency and the sovereign bolivar, already last year the Trump administration had sanctioned Caracas off the international financial system.

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Jim,

We need to keep shining light on fake news from MSM.  Funny how when President Trump does what the neocons want MSM gives it positive coverage.

Dave

Western Media Fall in Lockstep for Cheap Trump/Rubio Venezuela Aid PR Stunt
February 9, 2019

The Trump administration’s now completely overt effort to overthrow Venezuelan President Nicolás Maduro had a very successful public relations effort this week, as major Western media outlets uniformly echoed its simplistic, pre-packaged claim that the Venezuelan government was heartlessly withholding foreign aid:

Tensions Rise as Venezuela Blocks Border Bridge in Standoff Over Aid (CNN, 2/7/19)

Maduro Blocks Critical Aid Sent to Venezuela (CNN, 2/7/19)

Aid Arrives at Venezuela Border as US Demands Maduro Let It In(ABC News, 2/7/19)

Venezuela Crisis: Pompeo Demands Aid Corridor Opened (BBC, 2/7/19)

The US Says Maduro Is Blocking Aid to Starving People. The Venezuelan Says His People Aren’t Beggars. (Washington Post, 2/8/19)

Humanitarian Aid Arrives for Venezuela — But Maduro Blocks It(NPR, 2/8/19)

All of the above articles—and scores more like it—repeated the same script: Maduro was blocking aid from the US “out of refusal to relinquish power,” preferring to starve “his own people” rather than feed them. It’s a simple case of good and evil—of a tyrannical, paranoid dictator not letting in aid to feed a starving population.

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