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Venezuela to move its Gold out of USA, UK and European banks.
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<p>[QUOTE="medoraman, post: 1248670, member: 26302"]First, if he liquidates holdings in London someone may report about the sales. Holding it in Venezuela allows him to sell at his leisure, with no possibility of word leaking out. Many other dictators have withdrawn gold or money from London and world banks over the years. I cannot recall once ever seeing that money or gold as an asset to that country after that act.</p><p><br /></p><p>If you like what he has done to Venezuela, and has actually read about it, then I don't know what to say. Venezuela was one of the best SA countries, but within our lifetimes will be a banana republic, since all of its wealth is being squandered or stolen by Chavez and his cronies. The oil industry will cease in about 10 years due to him taking all of the profits and refusing to reinvest. Look at Venezuelan oil production over the last five years. I could care less about what he does or feels abotu the US, I simply care about the people of that once prosperous country. I really do feel sorry for them. Mexico is in the same boat with their oil industry, but at least they are close to the US making exports here easier, and have significant foreign remittances to help them.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 1248670, member: 26302"]First, if he liquidates holdings in London someone may report about the sales. Holding it in Venezuela allows him to sell at his leisure, with no possibility of word leaking out. Many other dictators have withdrawn gold or money from London and world banks over the years. I cannot recall once ever seeing that money or gold as an asset to that country after that act. If you like what he has done to Venezuela, and has actually read about it, then I don't know what to say. Venezuela was one of the best SA countries, but within our lifetimes will be a banana republic, since all of its wealth is being squandered or stolen by Chavez and his cronies. The oil industry will cease in about 10 years due to him taking all of the profits and refusing to reinvest. Look at Venezuelan oil production over the last five years. I could care less about what he does or feels abotu the US, I simply care about the people of that once prosperous country. I really do feel sorry for them. Mexico is in the same boat with their oil industry, but at least they are close to the US making exports here easier, and have significant foreign remittances to help them.[/QUOTE]
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