ECB & Bank of England Attempting to Steal Gold: Louis Cammarosano

ECB & Bank of England Attempting to Steal Gold: Louis Cammarosano by Rory for The Daily Coin

I sat down with Louis Cammarosano, smaulgld, to get his take on what we have reported over the past few weeks about Venezuela and Italy attempting to take control of their physical gold that is being held hostage by the ECB and Bank of England.

A big part of the conversation was centered around Romania being told they could not get their gold by their own National Bank of Romania along with the European Central Bank (ECB).

Under a last-minute amendment, the share of gold that can be deposited abroad was cut to 0% (from 5%). But the bill has a broader scope: under some of its provisions, BNR has to inform “no later than 20 days” about the occurrence of crisis situations “where the monetary stability, inflation target or macroeconomic policies are at risk”.

BNR can’t fully accept the amendments to its Statute, Adrian Dumitrescu, a senior BNR expert, said during debates at the Chamber of Deputies, according to local Firstly, he argued that any change to its Statute requires “mandatory” consultation of the European Central Bank (ECB) and proper consideration of the opinion issued by the ECB. Secondly, Dumitrescu argues that the amendments are hindering BNR in its duty of managing the country’s gold reserves, which is a responsibility of the central banks according to the European Union Treaty. Source

Combine this with what happened with Venezuela and Italy just in the past 2-3 weeks with their gold in the same banks.

If we look on the other side of the world we see Italy’s Salvini going to blows with the European Central Bank and the Central Bank of Italy regarding Italy’s gold reserves. Salvini is making life for the central bankers very uncomfortable and is challenging the banks in ways they have never had to deal with. The thing is – the whole world is watching. Source

We detail what has happened,what is happening and speculate as to what could happen going forward. It’s a great conversation around a subject that has not been brought to the table – not the three countries shining a spot light on the gold.


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The Daily Coin

Rory Hall, The Daily Coin and Gospel News Network. Beginning in 1987 Rory has written over 1,400 articles and produced more than 500 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Gold Seek, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Dr. Warren Coates and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Gospel News Network to enjoy some of the best economic, precious metals, geopolitical and preparedness news from around the world.