If Russia takes Venezuela’s gold...

CaptHenwayCaptHenway Posts: 26,412 ✭✭✭✭✭

Disregarding the politics of it, Russia taking the gold will keep it off the market, as opposed to the new government dumping it to raise money. Agree or disagree?

As they say in the wallpaper trade, "How's it hanging?"

Comments

  • Timbuk3Timbuk3 Posts: 10,099 ✭✭✭✭✭

    Agree !!! :)

    Timbuk3
  • StaircoinsStaircoins Posts: 2,470 ✭✭✭

    I don't know that any new government would've necessarily 'dumped it' to raise money. They have plenty of oil for that.

    That's a lot of gold for an economy that size. They'd have been smart to keep the gold as a reserve. It may never have hit the market in any case.

  • derrybderryb Posts: 26,589 ✭✭✭✭✭
    edited January 31, 2019 5:12AM

    We don't know they are taking it. They may be storing it for "protection" during the crisis.
    If they do take it we do not know under what terms. (partial repayment of loans?)
    If it is Russia's they will most likely add it to their stockpile.
    If "dumped" it would most likely be sold behind the scenes to another nation (China?) and not affect spot price.

    When exposing a crime is treated as committing a crime, you are being ruled by criminals.

  • TwoSides2aCoinTwoSides2aCoin Posts: 40,359 ✭✭✭✭✭
    edited January 31, 2019 5:59AM

    Is there a problem with gold on the market ? Apparently the rich and powerful are playing "keep-away".

    The poor suffer there , and everywhere. What regime enriches it's people ?

  • derrybderryb Posts: 26,589 ✭✭✭✭✭
    edited January 31, 2019 6:15AM

    No problem with gold on the market. It's at nine month highs. We don't know that the rich and powerful are playing keep-away. Something is driving the price up. Most likely a decrease in confidence in equities and currencies.

    A solid China trade deal (on the horizon?) should bode well for the stock market and the dollar and not so well for PMs. However, PM stocks/ETFs will likely ride/be protected by any stock market gains.

    When exposing a crime is treated as committing a crime, you are being ruled by criminals.

  • derrybderryb Posts: 26,589 ✭✭✭✭✭

    @TwoSides2aCoin said:

    The poor suffer there , and everywhere. What regime enriches it's people ?

    None that I know of. Many could but greed and corruption are the rust of just about all regimes.

    When exposing a crime is treated as committing a crime, you are being ruled by criminals.

  • OuthaulOuthaul Posts: 6,453 ✭✭✭✭✭
    edited January 31, 2019 6:55AM

    One thing is for certain. With the Soviets taking the gold for "safe keeping," there's little chance of Venezuela ever seeing it again if there's a regime change.

    Never take a front row seat at a Bris.
    Proud recipient and founding member of the "YOU SUCK" Club since 8/31/04 - USAF Retired: 1974 - 1994

  • johnny9434johnny9434 Posts: 18,985 ✭✭✭✭✭

    ill stay our of the politics ty

  • cohodkcohodk Posts: 15,382 ✭✭✭✭✭

    Any possibility this is more fake news?


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • MsMorrisineMsMorrisine Posts: 22,638 ✭✭✭✭✭

    gold is venezuela's big metal
    venezuela needs money

    there's not going to be anything done to tank the gold price

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derrybderryb Posts: 26,589 ✭✭✭✭✭

    @cohodk said:
    Any possibility this is more fake news?

    only for those who don't seek the truth

    When exposing a crime is treated as committing a crime, you are being ruled by criminals.

  • cohodkcohodk Posts: 15,382 ✭✭✭✭✭

    @derryb said:

    @cohodk said:
    Any possibility this is more fake news?

    only for those who don't seek the truth

    This story did originste from Russia, so yeah, thats the place to seek the truth.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • derrybderryb Posts: 26,589 ✭✭✭✭✭

    everything is true, just depends on whose truth.

    When exposing a crime is treated as committing a crime, you are being ruled by criminals.

  • derrybderryb Posts: 26,589 ✭✭✭✭✭

    Venezuela Central Bank Begins Shipping 18 Tons Of Gold To UAE

    "Venezuela has sold and shipped three tons of central bank gold to the United Arab Emirates (UAE) on January 26 and is preparing to ship 15 more tons, according to Reuters."

    When exposing a crime is treated as committing a crime, you are being ruled by criminals.

  • cohodkcohodk Posts: 15,382 ✭✭✭✭✭

    I really wish they would get the story straight.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • 3stars3stars Posts: 762 ✭✭✭✭

    The Soviets? How long ago did they ship the gold?

    Previous transactions: Wondercoin
  • blitzdudeblitzdude Posts: 1,498 ✭✭✭✭✭

    Whole thing sounds like fake news to me. You have to consider the source of original article.

  • After all these discussions, what do you see gold doing this year, Silver above 16/oz, whats next????

    APS

  • Musky1011Musky1011 Posts: 3,787 ✭✭✭

    Talk about meddling in another country's politics

    Pilgrim Clock and Gift Shop.. Expert clock repair since 1844

    Menomonee Falls Wisconsin USA

    http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
  • derrybderryb Posts: 26,589 ✭✭✭✭✭
    edited January 31, 2019 4:25PM

    @cohodk said:
    I really wish they would get the story straight.

    Actually, it remains unclear. The earlier news report in the other link on this topic stated "the destination of the $840 million in gold bars was unknown" while reporting that it was to be loaded onto a Russian airliner. Assumptions were made here that the gold was destined for Russia. Maybe it was, maybe it wasn't. The latest report on this matter linked above reveals that Venz. sold 18 tons to the UAE, but doesn't reveal how it was delivered. Might be the same gold, might be different gold. Time will tell.

    When exposing a crime is treated as committing a crime, you are being ruled by criminals.

  • BaleyBaley Posts: 20,880 ✭✭✭✭✭

    Gold bullion is only good for looking at, locking up, buying, selling, and shipping to and fro.

    Liberty: Parent of Science & Industry

  • blitzdudeblitzdude Posts: 1,498 ✭✭✭✭✭

    @Baley said:
    Gold bullion is only good for looking at, locking up, buying, selling, and shipping to and fro.

    Sounds like the definition of sound money to me, you can't just create an unlimited supply out of thin air.

  • OuthaulOuthaul Posts: 6,453 ✭✭✭✭✭

    @3stars said:
    The Soviets? How long ago did they ship the gold?

    If you think the cold war is over, you're fooling yourself.

    Never take a front row seat at a Bris.
    Proud recipient and founding member of the "YOU SUCK" Club since 8/31/04 - USAF Retired: 1974 - 1994

  • cohodkcohodk Posts: 15,382 ✭✭✭✭✭

    @blitzdude said:

    @Baley said:
    Gold bullion is only good for looking at, locking up, buying, selling, and shipping to and fro.

    Sounds like the definition of sound money to me, you can't just create an unlimited supply out of thin air.

    Right....they usually create it from dirt.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • derrybderryb Posts: 26,589 ✭✭✭✭✭
    edited January 31, 2019 8:37PM

    Look for a gold run on the Bank of England (and possibly others) as counter party risk is on the rise

    "In a short space of time, the Bank of England reputation’s as an impartial and safe location for the storage and trading of gold looks to have been irreversibly damaged."

    When exposing a crime is treated as committing a crime, you are being ruled by criminals.

  • MsMorrisineMsMorrisine Posts: 22,638 ✭✭✭✭✭

    Venezuela has a sympathetic partner in Turkey now, too. Turkey is reportedly refining Venezuelan gold... in Turkey.

    Venezuela has made friends in Russia. Venezuela is letting the Russians help with oil and mining ops now. Hopefully Venezuela gets a clue and asks for refining ops inside the country.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 22,638 ✭✭✭✭✭

    @derryb said:
    Look for a gold run on the Bank of England (and possibly others) as counter party risk is on the rise

    "In a short space of time, the Bank of England reputation’s as an impartial and safe location for the storage and trading of gold looks to have been irreversibly damaged."

    "tears up" is in the eye of the beholder.

    if the run hasn't started by now, when will it?

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • rickoricko Posts: 65,201 ✭✭✭✭✭

    This is great entertainment.... multiple plot lines, none of which are evidence based, each of which are potentially true. Unfortunately, we may never know which story is fact....Still a lot of fun to discuss. Cheers, RickO

  • AUandAGAUandAG Posts: 20,865 ✭✭✭✭✭

    Stupid "what if" thread. Means nothing without facts and the OP has none. Or at least none to support an argument in any form.

    waste of time....

    bob :)

    BST deals: Dozens of buys/sells. Will provide a list upon request.
    Registry: CC lowballs (boblindstrom), [email protected]
  • CaptHenwayCaptHenway Posts: 26,412 ✭✭✭✭✭

    @AUandAG said:
    Stupid "what if" thread. Means nothing without facts and the OP has none. Or at least none to support an argument in any form.

    waste of time....

    bob :)

    What part of "IF" do you not understand?

    As they say in the wallpaper trade, "How's it hanging?"
  • AUandAGAUandAG Posts: 20,865 ✭✭✭✭✭

    Well, from what I read, @CaptHenway , it has not happened yet. Who is saying that it has happened? Do you think that it's a "done deal"......nah Madro is losing his Generals and army....they won't let let leave in my opinion.

    bob

    BST deals: Dozens of buys/sells. Will provide a list upon request.
    Registry: CC lowballs (boblindstrom), [email protected]
  • bronco2078bronco2078 Posts: 7,115 ✭✭✭✭✭

    from your local CIA fake news department. Typical pre -coup agitprop

  • ttownttown Posts: 4,371 ✭✭✭

    Meh..... less than a billion in a trillion dollar world 🌎

  • MsMorrisineMsMorrisine Posts: 22,638 ✭✭✭✭✭

    The spot gold market isn't a trillion dollar market...

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • ttownttown Posts: 4,371 ✭✭✭
    edited February 4, 2019 8:35AM

    Chicken feed..... gold in someone vault isn't in the market is it? Just print more,right? 👻 That's the SOP, no worries🤣

  • ARCOARCO Posts: 3,599 ✭✭✭✭

    The gold is not sold, it is held as collateral for loans made against it. Not even a drop in the global wealth bucket.

  • VanHalenVanHalen Posts: 3,155 ✭✭✭✭

    @ARCO said:
    The gold is not sold, it is held as collateral for loans made against it. Not even a drop in the global wealth bucket.

    A 60 foot tall $8 trillion drop.

  • jmski52jmski52 Posts: 19,314 ✭✭✭✭✭

    This is great entertainment.... multiple plot lines, none of which are evidence based, each of which are potentially true. Unfortunately, we may never know which story is fact....Still a lot of fun to discuss. Cheers, RickO

    And that is the nature of the gold market, especially concerning sovereign gold holdings. It's been this way ever since I was a kid. Not a whole lot of transparency or accountability.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • ARCOARCO Posts: 3,599 ✭✭✭✭
    edited February 23, 2019 8:22PM

    @VanHalen said:

    @ARCO said:
    The gold is not sold, it is held as collateral for loans made against it. Not even a drop in the global wealth bucket.

    A 60 foot tall $8 trillion drop.

    I was speaking about Venezuela gold. That is not Venezuela gold, that is total world gold. Venezuela gold is a tiny little drop in that stack and not even a droplet in the global wealth bucket.

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