Bloomberg:
Gold Makes Dead Portuguese Dictator Top Investor
Former dictator Antonio de Oliveira Salazar might be remembered as Portugal’s best investor had central bank rules allowed the country to benefit from his shrewdest trade: Europe’s biggest gold pile.
Portugal owns more of the precious metal relative to the size of its economy than any euro country, accumulated mostly during Salazar’s 36 years in power using savings and money from exports including tungsten and canned fish. Gold’s 26 percent advance in the past year leaves Portugal holding an increasingly valuable asset, though one the indebted government can’t touch because the law prevents proceeds from going to state coffers...
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Comment: Remember: before Salazar became president, he was an economics professor of the old school. And I bet: he wouldn't have passed any test of those schools that let pass Bernanke & Co. with the highest grade.
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