Venezuela says Bank of England is refusing to release gold it needs to fight Covid-19

Discussion in 'Current Affairs' started by willrocks, May 22, 2020.

  1. willrocks

    willrocks Well-Known Member Silver Stacker

    Joined:
    May 10, 2012
    Messages:
    6,667
    Likes Received:
    2,004
    Trophy Points:
    113
    https://edition.cnn.com/2020/05/21/business/venezuela-bank-of-england-gold-coronavirus/index.html
     
    Skyrocket and STKR like this.
  2. STKR

    STKR Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2019
    Messages:
    631
    Likes Received:
    980
    Trophy Points:
    93
    They're not evening trying to repatriate their gold, they just want it liquidated and the currency sent to the U.N development program.

    What would the bank of England really have to lose? There has to be much more to this story than we'll ever know - likely geopolitical reasons.
     
    66rounds and Silverling like this.
  3. Davros10

    Davros10 Well-Known Member Silver Stacker

    Joined:
    Aug 6, 2014
    Messages:
    498
    Likes Received:
    355
    Trophy Points:
    63
    Location:
    Canberra
    I might be wrong, but I seem to remember the problem is a question of ownership as the Venezuelans had taken out loans with this gold as collateral. These loans are unpaid.
     
    willrocks, STKR and sammysilver like this.
  4. Timmy88

    Timmy88 Member Silver Stacker

    Joined:
    Mar 20, 2015
    Messages:
    84
    Likes Received:
    93
    Trophy Points:
    18
    Location:
    Melbourne
    I think it really all goes back to if you don't hold it you don't own it. Whether it be person or country principle is the same.

    Timmy
     
    madaw1, jnkmbx, Ag bullet and 3 others like this.
  5. Silver260

    Silver260 Well-Known Member Silver Stacker

    Joined:
    Dec 11, 2014
    Messages:
    424
    Likes Received:
    603
    Trophy Points:
    93
    Location:
    Queensland
    Venezuela gives its gold to a major foreign bank....

    images - 2020-05-22T143518.258.jpeg
     
    Ag bullet, Oddjob and Timmy88 like this.
  6. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    13,411
    Likes Received:
    2,704
    Trophy Points:
    113
    Location:
    Australia
    USA is trying to destroy Venezuela and so it just tells UK to frustrate them as much as possible. It's not to do with the gold or the currency, but with destroying an anti-USA regime.
     
    Kansas21 and Silver260 like this.
  7. Silver260

    Silver260 Well-Known Member Silver Stacker

    Joined:
    Dec 11, 2014
    Messages:
    424
    Likes Received:
    603
    Trophy Points:
    93
    Location:
    Queensland
    ^^^

    Yep
     
  8. Slimey

    Slimey Well-Known Member

    Joined:
    Jul 20, 2019
    Messages:
    232
    Likes Received:
    279
    Trophy Points:
    63
    one billion dollars is effectively 2 tenths of S.F.A..............Scomo can spend that before morning tea time.
    If they actually own the gold and it is not a security for debt then there is no problem. The problem is probably tied in with contracts taken with successive incompetent/corrupt governments. Lots of secrets, lots of lies. Have a look at some of our own State governments and the shitty secret contracts that they love to engage in.
     
    STKR likes this.
  9. paruwka

    paruwka Member

    Joined:
    Aug 5, 2013
    Messages:
    55
    Likes Received:
    45
    Trophy Points:
    18
    Location:
    Canada/Australia
    No, the US has nothing to do with this specific problem.


    The crux of the issue is the British government does not recognise Nicholás Maduro as the legitimate head of government. This is due to the 2018 presidential election being described as a ‘show election’ by International Observers and Venezuelan NGOs. This came about because the majority of the candidates (and opposing parties) seeking the presidency were prevented from nominating or participating (because they were jailed or fled the country) resulting in Maduro winning. 60 countries including Britain, Australia, the EU, the OAS, and the USA refused to recognise the legitimacy of this election. The countries who *do* support Maduro include Russia, Syria, Egypt, Cuba, China and Iran.


    In January 2019 the National Assembly (a previously elected body which Maduro considers to be a thorn in his side to the extent he created his own captive ‘assembly’ by appointment) determined that under the Constitution in the event of a disputed election a further election should be held. In the event the incumbent president’s term expired before the election could be held and a winner declared the elected leader of the NA acts as interim president. Juan Guaidó is the leader of the NA.


    Unsurprisingly Maduro refused to stand down. Maduro gained support of the Army and that is where the political situation stands today.


    Britain recognizes Juan Guaidó as the president and has said they will follow his instructions vis-a-vis the Venezuelan gold.


    Guaidó doesn’t want the gold returned because he does not believe Maduro will spend the money on the Venezuelan people, merely pay off his political cronies and Army generals.


    In summary, if you don’t hold it you don’t own it.
     
  10. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    13,411
    Likes Received:
    2,704
    Trophy Points:
    113
    Location:
    Australia
    One level lower it's USA
     
  11. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

    Joined:
    Feb 6, 2012
    Messages:
    2,695
    Likes Received:
    990
    Trophy Points:
    113
    Location:
    Seedeneey
    You guys got this one all wrong, the gold is locked-in for making Camilla new crowns, she doesn't want old crappy ones from inheritance
     
    madaw1 likes this.
  12. jnkmbx

    jnkmbx Well-Known Member

    Joined:
    Apr 8, 2011
    Messages:
    1,745
    Likes Received:
    63
    Trophy Points:
    48
    Location:
    Sydney, Australia
    Exactly, if you can't bone it, you don't own it.
     

Share This Page