Hugo Chavez To Pull Gold Reserves Out Of US And Europe

Taking physical delivery of gold which has been in the international settlement system will cause some dislocations.

Not knowing the current custodians trades quite a few possible temporary outcomes are possible which will work its self out. It is estimated at about 1.5 days of production.


On a side note -- The nut case in Libya is trying to move / get his hands on the Libyan gold and other assets (easy to move) that are still inside of Libya and the various international agencies are keeping track as it belongs to the citizens of Libya.







Not any more - Egypt -- They FROZE all accounts including the Swiss accounts of all known prior regime participants and their families. These assets will make their way back to the Egyptian people / country / get repatriated in some way. The numbers vary from about 50 to 100 bill $ or more as Murbaiks family alone is supposed to have close to 40 Bill stashed away.

Is he the only one moving his gold home or are others following suit?
As has been said before in this thread transporting large quantities of bullion is a risky endeavor. Putting aside the possibility of robbery there is always the chance of natural disaster...

I for one am kind of curious to see if the transportation of gold reserves has increased of late

Why would they sell gold at $300 (and to whom) when the going rate is over six times that much? Selling it for fiscal reasons can be justified, but not selling it at 16% of its value.

Richard, below are two situations that were talked about on the net when it happened.

India -- When they bought a big chunk of gold (09 or 10) there was talk that they wanted it delivered in India. However India did NOT have a safe place to stash it at that time per security experts. Not sure if they have subsequently built anything and taken delivery of it. No one is going to publicize large movements of valuables or their locations. Hugo being Hugo is being Hugo.

Also, back in 2008 during the melt down and they were giving away PM's ...Soros is supposed to have flown either 1 or 2 cargo planes (as big as they come) into South Africa, paid in $'s and loaded up the planes with PM's. The supposed / alleged destination of the PM cargo was to a western friendly island or country in South America.

The story goes...To maximize the load they took apart all non essential fixtures and only the pilots were in it with the cargo

The cargo being the money, of course. A ounce of gold doesn't weigh nearly as much as 15 Bennies, nor take as much space.

And the ones we do execute, take years and years, if not decades. All those appeals, slow things down, but I guess it helps, since every so often, they find an "innocent" inmate. I dunno, if it was my country, I'd do what china does, and just get it over with, and maybe get some body parts for those that needs transplants. Win-win situation, IMO, since you get rid of the filth and heal the sick.

Cancel the war on drugs, problem solved.