If Russia takes Venezuela’s gold...
CaptHenway
Posts: 32,144 ✭✭✭✭✭
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?
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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Comments
Agree !!!
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.
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.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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 ?
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.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
None that I know of. Many could but greed and corruption are the rust of just about all regimes.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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.
ill stay our of the politics ty
Any possibility this is more fake news?
Knowledge is the enemy of fear
gold is venezuela's big metal
venezuela needs money
there's not going to be anything done to tank the gold price
only for those who don't seek the truth
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
This story did originste from Russia, so yeah, thats the place to seek the truth.
Knowledge is the enemy of fear
everything is true, just depends on whose truth.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I really wish they would get the story straight.
Knowledge is the enemy of fear
The Soviets? How long ago did they ship the gold?
Whole thing sounds like fake news to me. You have to consider the source of original article.
The whole worlds off its rocker, buy Gold™.
Talk about meddling in another country's politics
Menomonee Falls Wisconsin USA
http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
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.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Gold bullion is only good for looking at, locking up, buying, selling, and shipping to and fro.
Liberty: Parent of Science & Industry
Sounds like the definition of sound money to me, you can't just create an unlimited supply out of thin air.
The whole worlds off its rocker, buy Gold™.
If you think the cold war is over, you're fooling yourself.
Right....they usually create it from dirt.
Knowledge is the enemy of fear
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."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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.
"tears up" is in the eye of the beholder.
if the run hasn't started by now, when will it?
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
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?
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
from your local CIA fake news department. Typical pre -coup agitprop
Meh..... less than a billion in a trillion dollar world 🌎
The spot gold market isn't a trillion dollar market...
Chicken feed..... gold in someone vault isn't in the market is it? Just print more,right? 👻 That's the SOP, no worries🤣
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.
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.
I knew it would happen.
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.