Project Syndicate • 12/15/2025

Italy's recent economic strategies regarding gold reserves reflect an attempt to assert national sovereignty and economic independence. The author analyzes Italy's historical relationship with gold, illustrating how these reserves have been leveraged in crises and discussing the implications for financial autonomy. The piece challenges the conventional preference for fiat currencies over traditional asset-backed systems, suggesting that Italy's gold gambit could offer a viable alternative amid economic uncertainty. This concept of returning to gold as a stabilizing force may gain traction as nations seek to navigate global economic complexities.
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