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Thread: Disaster in venezuela

  1. #21

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    Quote Originally Posted by redraspberry View Post
    $840M in gold bars prepared for loading onto Russian jet at Venezuelan airport: report

    https://www.foxnews.com/world/russia...awmaker-claims

    About 20 tons of gold from Venezuela's central bank was ready to be hauled away Tuesday on a Russian airline's Boeing 777 that landed in Caracas a day earlier, a Venezuelan lawmaker wrote on Twitter.

    The destination of the $840 million in gold bars was unknown, but a source told Bloomberg News that it represented about 20 percent of the country's holding of the metal. The gold was set aside for loading, the report said.
    I wonder who wants that old relic?
    Politicians and diapers must be changed often, and for the same reason. -Mark Twain

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  2. #22

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    Quote Originally Posted by Miteysquirrel View Post
    I wonder who wants that old relic?
    Good point. Also it's not even backed by the fed res bankers....

    Small business is the incubator of employment. As it declines, so too do opportunities for first jobs, second chances and economic independence.

  3. #23

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    Quote Originally Posted by redraspberry View Post
    $840M in gold bars prepared for loading onto Russian jet at Venezuelan airport: report

    https://www.foxnews.com/world/russia...awmaker-claims

    About 20 tons of gold from Venezuela's central bank was ready to be hauled away Tuesday on a Russian airline's Boeing 777 that landed in Caracas a day earlier, a Venezuelan lawmaker wrote on Twitter.

    The destination of the $840 million in gold bars was unknown, but a source told Bloomberg News that it represented about 20 percent of the country's holding of the metal. The gold was set aside for loading, the report said.
    probably collateral security for russian loans.

    Golditiki2+++

  4. #24

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    Quote Originally Posted by golditiki2 View Post
    probably collateral security for russian loans.

    Golditiki2+++
    That sounds about right.
    Bank of England won't give Venezuela back their gold. Russia aids all the countries the US goes against. Saddam's gold was taken and so was Gaddafi's.
    Probably better to keep it somewhere else with some hope of trust. Maduro may get to it later.

  5. #25

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    who is to say? If Bank of England only gives back gold in storage to the countries that are friendly to US interests. What message does that echo to the whole world?

  6. #26

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    Quote Originally Posted by dukadan View Post
    who is to say? If Bank of England only gives back gold in storage to the countries that are friendly to US interests. What message does that echo to the whole world?
    means that everybody should hold its gold in the Bank of England because only "THEY" possess the absolute judgement about what is democracy and how it is spelled.


    Golditiki2+++

  7. #27

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    Quote Originally Posted by golditiki2 View Post
    means that everybody should hold its gold in the Bank of England because only "THEY" possess the absolute judgement about what is democracy and how it is spelled.


    Golditiki2+++
    Maduro’s Bid to Fly Gold Out of Venezuela Is Blocked

    https://www.bloomberg.com/news/artic...of-gold-abroad

    Okay yes Russian Media

    Venezuela's Gold: 3 Times State Wealth in Western Banks "Mysteriously" Vanished
    https://sputniknews.com/analysis/201...-past-history/

  8. #28

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    I don't really know how much gold would help individuals. A big issue in Venezuela is lack of supply as inflation has roiled markets, pricing laws have made production unprofitable, imports have cratered as foreign reserves are depleted, and the government has seized farms and private companies to get better "control" of supply (but obviously it had the opposite effect). If I plucked you up and put you on the streets of Caracas with 10oz of gold you may fare slightly better, but it isn't as if that gold is going to make medicine imports available or motivate a farmer to sell you crops he never planted 6 months ago because the government has fixed prices (at a loss), inflation and the fixed pricing has destroyed destroyed the market place and his wealth, and the government seized his farm.

    It's possible in the short term it may have helped someone get more bang for their buck, but who knows.
    Last edited by Ryanferr; 02-04-2019 at 11:48 AM.
    The answers are in the data

  9. #29

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    Here is an old article from 2016

    A single ounce of gold can now buy a house in Venezuela because of hyperinflation


    Yet something interesting is occurring in Venezuela at ground level outside the rise of black markets and government alternative price controls. And that is that physical gold and silver are both superseding the soaring price inflation tied to paper currencies, and according to a missionary who lives and works in Venezuela, a single ounce of silver can buy enough food for a family to last three months, and an ounce of gold can buy you a house.


    https://www.linkedin.com/pulse/singl...ause-weissmann

  10. #30
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    Quote Originally Posted by Ryanferr View Post
    I don't really know how much gold would help individuals. A big issue in Venezuela is lack of supply as inflation has roiled markets, pricing laws have made production unprofitable, imports have cratered as foreign reserves are depleted, and the government has seized farms and private companies to get better "control" of supply (but obviously it had the opposite effect). If I plucked you up and put you on the streets of Caracas with 10oz of gold you may fare slightly better, but it isn't as if that gold is going to make medicine imports available or motivate a farmer to sell you crops he never planted 6 months ago because the government has fixed prices (at a loss), inflation and the fixed pricing has destroyed destroyed the market place and his wealth, and the government seized his farm.

    It's possible in the short term it may have helped someone get more bang for their buck, but who knows.
    Would not the gold help with the things one could touch? The missing things one cannot touch, well, nothing can help there - until available.

    What strikes me is a contrived economic "system" was distorted to unacceptable degrees. Once broken, chaos provides no path for coherence - not even gold.

    That can happen anywhere, given enough chaos. I'm still "struck" by the recent discussions in the economic/business theater regarding "the potential harm" that could occur by raising rates another .025 - .500 - at a point in history when 2 to 3% is historically (still) low. It does not sound or "feel" right.
    Who are the righteous? ....Markpti

    What value did Burisma think to gain by hiring Hunter Biden as a Board member vs ALL other choices?

    Those who cannot articulate the other argument do not fully understand their own argument.

    "Much can be done by wise legislation and by resolute enforcement of the law. But still much more must be done
    by steady training of the individual - in conscience and character...." .......T. Roosevelt

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