DailyLimerick.com

Want Some “Bread” for That Cheese?

August 26, 2009

Finding gold in a bank vault probably would not surprise you very much. But what if that gold was 85-pound round wheels of cheese instead of metal bars?  That would be the case if you were in the Credito Emiliano’s bank in Milan, Italy.  Since just after World War II, the Parmigiano-Reggiano Cheese Consortium, has been banking their cheese during the aging process as collateral for loans.  While this has been a key factor through the decades, it becomes even more vital in down economies because it ensures that credit is available.  The vault holds up to 400,000 wheels and when full is valued around $186 million. 


The sinking economy left many stunned
For people seeking money, they felt shunned
Parmesan cheese has shown
It’s collateral for a loan
The bank says it’s their personal “wedge fund”