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dkf

(37,305 posts)
Wed Aug 29, 2012, 07:01 PM Aug 2012

In hard times, “I buy gold” is Italy’s boom business

Times are now so tough that Valerio Novelli, a ticket inspector on Rome’s buses, is planning to sell his old gold teeth.

“I can’t get to the end of the month without running up debts,” said Mr. Novelli, 56, who has to support an ex-wife and daughter. “I know I won’t get much, but I need the money.”

In a country suffering from economic crisis, buying gold off desperate people has become one of the few boom industries.


Ranieri Razzante, head of Italy’s anti-money laundering watchdog AIRA, said pawnbrokers had “virtually taken over from banks” as a form of financing for Italian families, as crisis-hit lenders are increasingly reluctant to offer credit.



http://www.theglobeandmail.com/report-on-business/international-business/european-business/in-hard-times-i-buy-gold-is-italys-boom-business/article4489515/

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In hard times, “I buy gold” is Italy’s boom business (Original Post) dkf Aug 2012 OP
this kind of thing always make me sad... phantom power Aug 2012 #1

phantom power

(25,966 posts)
1. this kind of thing always make me sad...
Wed Aug 29, 2012, 07:43 PM
Aug 2012

you sell your gold, or jewelry, or what-have-you, and then next month rolls around, and then what?

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