Wine or gold? Liquid assets, from Romania
Has wine reached the investment status of gold? In Romania, the answer is yes. Even though Communism had a knack for turning gold into lead, the country’s wine from that era is now taking its place alongside ingots. Roll the tape from Bloomberg (thanks, reader Mike!):
This year, the National Bank of Romania will begin storing select vintages next to the gold bars in its Bucharest vaults. The first deposit will be 300 bottles of Grasa de Cotnari made in 1956, one of the last good years during communism.
It helps that the Romanian central bank Governor Mugur Isarescu is a wine maker, trying to give new life to cramposie, a 2,000-year-old grape that Ceausescu nearly extinguished. Wow, talk about an indigenous grape variety!
Sep
30
2007
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