Rome wants to dig into private gold holdings. Italy now plans a one-time "legalization tax" of 12.5% on undeclared gold… to convert it into approved gold.

If citizens want to keep their family gold legally recognized, they must pay the state to "bless" it. If they don't? They risk a 26% capital gains hit when they sell. Italy is the first EU country to even propose something like this.

This won't age well. Not for Italy. Not for Europe. And not for any country that believes it can plug a sinking ship by drilling into private pockets. My thoughts? Germany have already relocation taxes. UK also considering relocation taxes. Italy considering now new taxes for gold. Quo vadis Europe? What is going on?