(Fintoism News Flash) It would appear that Poland has created a peculiar precedent. The Eastern European recently bought back vast amounts of gold bullion from the Bank of England.
Their example will now be followed by Slovakia, at least if their former prime minister is to believed.
Robert Fico, the former Slovakian prime minister, sent a clear message to the current people in charge of the country.
In his opinion, the parliament needs to reacquire its gold from the United Kingdom sooner rather than later.
Fico is primarily concerned with how the UK “cannot be trusted with these bullion reserves”.
Repatriating these gold reserves need to be done before things get out of hand.
Fico also indicates some sort of negative financial development could occur, and one that would potentially leave Slovakia without some its gold reserves in the process.
Making such a tough decision cannot occur without an official parliamentary session, which is expected to take place in the weeks to come.
Gold is still considered to be the only symbol of the strength of a country and its economy.
Even though most forms of money no longer adhere to the gold standard, there are plenty of indications that this situation could be reserved in the years ahead.
Poland recently repatriated 100 tons of bullion from the Bank of England.
The country will store those reserves in its own central bank, seemingly as a hedge against potential future financial instability.