Chavez will also be testing the gold to make sure it is not fake and tungsten filled.
This is really going to get interesting. One analyst has surmised Chavez may have already asked for the gold awhile back but was not getting the response he needed for getting it, so he took it public.
As I see it, England and the United States hands are forced in scrambling to find gold for Chavez. If they start beating the drums of war against him, it will not look good to other countries who have their gold stored in London and the U.S. I would say both countries are in a catch 22. They don't have the gold and it will be obvious if they start war drums.
Chavez is also very smart to publicize he would be putting his billions of reserves in China and Russia, so they would/will have his back in him getting his money and gold. They will also be watching this situation very carefully. Will the gold be fake? Will Chavez get his gold? Will the U.S. and England think of some reason to go to war with him and freeze his assets, so they don't have to send him his gold? Anyway you look at it, countries will know the reason why. Other countries will then hopefully get smart and ask for their gold that is being trusted with England and the U.S.
Chavez was also very smart in waiting until now to ask for his gold back. Due to the U.S. being in so many wars and now about to declare another one on Syria, the military is spread thin. NATO is spread thin too, due to them having the U.S.'s back in all the wars. So it is going to be pretty hard for the U.S. to start another war in S. America. Will the U.S. just try and have Chavez taken out and a friendly installed? Chavez is brilliant in any way of looking at this. His timing is good and now a catch 22 has been created.
If I was a country that had 211 tons of gold stored elsewhere, I would be wanting it back right now too. Besides there is absolutely nothing wrong with a country getting back what is rightfully theirs. Unless of course the countries that were trusted with it, misused that trust and actually sold it. Awwww..... but the U.S. and England would never have done something like that, they are such moral countries. Right?
I think, things are going to start getting really interesting and we certainly have not heard the end of this.
UPDATE 8/23/11 8:15am est - Funny thing happened yesterday - U.S. Mint Suspended ALL Gold Coin sales. hhmmm.... me thinks real physical gold may be hard to come by.
Update added - Take over of Tripoli, Libya, The U.S. and NATO have been able to finally steal Libya's gold which is what they were most likely after, besides controlling the oil. Now Chavez will be able to get 144 tons of gold, the rest will have to be stolen from another country..... Syria next?
Edited to Add 7:58pm est 8/22/11:
Grant Williams "Things that make you go hhhmmm....."
From document linked below:
"-- It is common practce for most central banks to hold part of their gold reserves overseas in 'gold trading centres' (read London and New York).
"-- One of those central banks -- that of Venezuela -- wants its gold back.
-- That means that a group of banks (mainly in the UK and the United States) that are supposed to have that gold in their vaults need to give it back ...
"-- ... which in turn could potentally trigger a race to repatriate national gold holdings.
"-- Neither Fort Knox nor the Federal Reserve (the world's two biggest gold depositories) have been independently audited in recent times.
"-- The status of the gold held in the Bundesbank (home to the world's third-largest hoard) is somewhat unclear.
"-- The practice of leasing gold by central banks has been going on so long that it predates even the time when Alan Greenspan advocated sound money.
"-- The gold 'physical market' is approximately 100 times the size of the amount of actual underlying metal by which it is purportedly backed.
"-- The top four bullion banks, or 'commercials' on the COMEX, continue to run what we shall politely call 'significant' short positions."
Williams also speculates:
"If there is any delay in repatriating Venezuela's gold, it could potentially start a frantic scramble by central banks to claim their physical gold, and, if that happens, you can be assured that a fire will be lit under the gold price the likes of which we haven't yet seen -- even as gold has appreciated from $250 to $1,850 over the past 11 years."
Full "Things that make you go hhhhmmmmmm......." document - very good read!
Hmmm August 20 2011
Well, let me tell you, something else.
ReplyDeleteThe U.S. doesn't have to take out Chavez. All that has to be done is, have a faux anti-semitic attack on some synagogue or a rabbi, and it will be enough, for the jews to declare war against Chavez.
It's been tried before, wherein, there was supposedly, some Venezuelans who attacked a synagogue. It was a strange attack, where NOTHING was looted, and the Tabernacle was left alone.
That time, some Higher Source, or whatever you call it, saved Venezuela.
And we KNOW that wars really kill innocent civilians, not the Elite there. It is ALWAYS the civilians that suffer, bleed and die.
I of course that this is just part of the ruse to perpetuate the new World War. He is already a friendly Margaret Thatcher Proved that to him.
ReplyDeleteSo Im not buying what they are selling and if they wanted Chavez or any dictator out they would have him killed and use some patsy or lame excuse as always. Im not riveted by this story
Telee - you may not be riveted by the story, but many others are, including myself. We have a game changer of the metals market now happening. This is actually huge.
ReplyDeleteremember they have tried to take Chavez out before, they just haven't gotten to him yet.
I believe this can break the market, because no matter what if Chavez doesn't get his gold for one reason or another, it would start a repatriation of gold from other countries. Chavez has to get his gold, for other countries to feel comfortable with the U.S. and London storing it.
This has the possibility of changing the whole metals market and cracking it wide open. So you can look elsewhere, but my eyes will be on all that happens with it. I will post all the information I can find too!
The Battle For Libya Is Almost Over... As Is The Battle For Its 144 Tons Of Gold
ReplyDeleteFollowing a 6 month stalemate in which neither side had attained any advantage, it suddenly took just a few days for the Libyan rebel forces to steamroll unopposed into Tripoli. While we are confident that the political aftermath of this outcome will be very much comparable to what is happening in Egypt right now, many wonder why it is that the Libyan situation has progressed with such speed. Perhaps the answer can be found in the 143.8 tons of gold held by the Libyan Central Bank. Granted it is nowhere near close the 366 tons of gold that Venezuela supposedly has per the WGC, most of it likely held offshore and not being repatriated, the question of where the global gold cartel may find some of the much needed physical to satisfy Chavez' demands has been now answered. Of course we assume that said gold has not already departed Libya in direction Caracas over the past 6 months. Which, in retrospect, we probably should, as it would explain why gold is now at $1875 and rapidly rising.
http://www.zerohedge.com/news/battle-libya-almost-over-battle-its-144-tons-gold
Anonymous, you are absolutely right, the timing of this is very suspect.....The more I learn about the audacity of the elite, the more it sickens me....It is his gold and he can store it wherever the hell he wants...
ReplyDeleteI think it's safe enough to assume that getting the gold from London-NY or wherever was not Hugo's idea. He's in Cuba getting chemo for cancer, his strategy has always been provided by the Castros.
ReplyDeleteStill, it's a black swan event and I'm smiling watching it unfold.