7 votes

Venezuela says gold repatriation starts Nov! Really this time!

[Venezuela Central Bank inquires about $11 Billion gold shipment ordered a year ago.]

Big Bank Vault automated phone response: Please hold.... [Allow us to continue vaulting your 411 Billion Gold reserve.] All gold shipping agents are busy. The next available shipping operator will be with you promptly. Estimated wait time is 984 hours. Please hold.

CARACAS, Venezuela -- Venezuela will begin repatriating its gold reserves from Western nations by mid-November, the central bank head said on Wednesday.
Reuters News, Wednesday, October 6, 2011

"We're in the final phase of the logistics. ... Soon the Venezuelan people will know when the first boat is coming," ... according to state news agency AVN.

President Hugo Chavez announced in August that the South American OPEC member nation would bring bring home almost all its $11 billion in gold reserves held abroad -- a nationalistic move that has hurt market confidence.
...
------------------------------------
Big Bank Vault automated phone response: Please hold.... The next available shipping operator will be with you promptly. Estimated wait time is 983 hours, and 59 minutes. Please hold.
------------------------------------
[Mexico Central Bank inquires about its multi-billion gold shipment ordered months ago.]

Gold? ¿No el oro del Banco Central de México? 09/26/2011
------------------------------------
Big Bank Vault automated phone response: Please hold.... The next available shipping operator will be with you promptly. Estimated wait time is 7,200 hours. Please hold.

Big Bank Vault operator: Boss. Venezuela on line one. Mexico on line two. They been holding months. They want someone to repatriate their gold. Should I answer? What could I say?



Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Looks like it's time to "save

Looks like it's time to "save civilians" in Venezuela. Who else smells it coming?

Will Hugo get his gold?

I say no fucking way. Something will come about which prevents it.

SteveMT's picture

$11B in gold going back.Any other countries want their own gold?

These days, why wouldn't every country want their own gold? They can save on the vault fees, and house it themselves.

Certinly. All peoples of all countries want their gold near them

Trust that allowed gold to be "Fractional Reserve" pie... is gone. Gone... even the crust.

Central Banks Add to Gold Holdings Sept. 29, 2011

    Net central bank gold purchases are expected to total at least 336 metric tons this year, equal to around $20 billion based on recent prices...

Perfect Storm Creates Tidal Wave of Gold Demand

    Short article w/ global map of gold purchases (demand)
    highlighting China & India is half of demand this year.

    Also includes central bank net buyers of Gold.

Announced repatriating gold in world-wide press:

Related recent gold import news:

  • Russia, Thailand and Bolivia. (cited in first link above)
  • Vietnam (setting up their own mental exchange; standing for delivery; see below)
  • Hong Kong Territory,
  • China (See below. June, 2012. Opening their own metal exchange; standing for delivery.)
  • Hong Kong Territory, China (In 2009, set up their own 3,000 square foot vault @ airport; high-security; offering storage for all Asia)

Vietnam lets banks restart offshore trading to push local gold price down. Reuters News, Thurs., Oct. 6, 2011
http://www.reuters.com/article/2011/10/06/vietnam-economy-go...

Vietnam's central bank has allowed five banks and Saigon Jewelry Co (SJC), the country's top gold trader, to reopen offshore gold trading accounts to help narrow the gap between domestic and international prices, state-run media said on Thursday.

The six institutions will sell up to six tonnes of gold from their stock to increase supply in the domestic market, an online report of the official Thanh Nien newspaper said. ...
----------------------------

Beware of China’s Pan Asia Gold Exchange grand opening June, 2012.

... The main attraction of the exchange is that it will allow average Chinese to buy physical gold or set up an account with a brokerage firm and trade futures, to sell and buy in yuan.

Average Chinese has been able to buy and own physical gold since the opening of the Shanghi Gold Exchange in 2002. With the new Pan Asian Gold Exchange, the Chinese peoples’ ability to own gold and Silver has been expanded by enabling them to buy it online, analysts added

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Confiscate that gold

It's hard to imagine that Chavez stores any gold in the U.S.

It will be interesting to see if the 'Western nations' have the physical gold to give.

And if they do, will they be willing to do it?

To watch our new "How To Profit Like The Ultra-Rich During Times Of Economic Chaos" webinar, click on The Elevation Group

Banks around the world will schedule marching bands....

"Venezuela's gold abroad is in England, Switzerland, the United States, Canada and France." - Reuters News, Oct 2011. [Physical location dubious. It will take "logistics" & time to gather up the gold; then repatriate it.]

[ "76 Trombones in the big parade." "Music Man" 1962 Silver screen. Shirley Jones; Ronnny Howard. 3 minutes]

Federally Funded Education Program Prints Booklet Covered By American Flag With 59 Stars...

76 Trombones in the Big Parade? You could hear the trombones in the theater ... "We got trouble... Right here, I say. Trouble right here in River City." ...

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Take-a-little, tax-a-little, take-a-little, tax-a-little

Take, take, take, tax a little more!

Marion the libertarian reads dirty books. Like "Huckleberry Finn."

What do you think? http://consequeries.com/

"The Welth Fargo Wagon is .....

A comin.........
(Got to love lil Opi)

It's the sadder but wiser girl...

...for me.

I miss it, too.

dynamite anthrax supreme court white house tea party jihad
======================================
West of 89
a novel of another america
https://www.smashwords.com/books/view/161155#longdescr

RE: Banks around the world will schedule marching bands

Thanks for the reply @Mark Twain

It will be interesting to see how it plays out. No doubt the elite want to get rid of Chavez, so now is as good a time as ever to do it, to take control of his gold... and his oil.

To watch our new "How To Profit Like The Ultra-Rich During Times Of Economic Chaos" webinar, click on The Elevation Group

the gold stored in other

the gold stored in other nations was before Chavez became ruler of Venezuela.

RE: the gold stored in other

Thanks for the reply @SIERRAHPBT

As much as Chavez detests the U.S., it was hard to imagine why he would have gold stored here.

It will be interesting to see if his demands are met by all of the countries which store his gold.

To watch our new "How To Profit Like The Ultra-Rich During Times Of Economic Chaos" webinar, click on The Elevation Group