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Gold Won't Solve Your Budget Problems
Most of us have a few coins lost down the backs of our sofas. Only the foolish think they can solve their money worries by fishing them out. That’s more or less what politicians in Venezuela and Italy are contemplating at the moment, though. The Latin American government sold more than 40 percent of its gold reserves last year to fund government spending and bond payments, according to opposition lawmakers. Italy, too, has been roiled with controversy this week after La Stampa newspaper reported that the government was considering selling part of its gold reserves to support its budget – an interpretation of a ... (full story)