Gold Is New Obsession for East Europe’s Nationalist Leaders (RTD News Update)
#Gold is all that nationalist leaders in #Europe’s east can talk about these days.
Just this week, #Poland’s government touted its economic might after completing the repatriation of 100 tons of the metal. Over in #Hungary, anti-immigrant Prime Minister Viktor Orban has been ramping up holdings of the safe-haven asset to boost the #security of his #reserves.
The gold rush mirrors steps by #Russia and #China to diversify reserves exceeding $3 trillion away from the dollar amid flaring geopolitical tensions with the U.S. Motivations in Europe’s ex-communist wing, however, can vary.
Take the latest example. Former #Slovak Premier Robert Fico, who has a shot at returning to power, urges parliament to compel the central #bank into bringing home gold #stocks stored in the U.K.
The reason? Sometimes your international partners can betray you, Fico said, citing a 1938 pact by #France, #Britain, #Italy and #Germany.
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