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"Show me your gold. . ."

derrybderryb Posts: 37,619 ✭✭✭✭✭
. . . says Bank of America to Venezuela

As one commenter noted, "It's quite sad when Venezuela's Central Bank demonstrates more transparency with its assets than The Federal Reserve."

No Way Out: Stimulus and Money Printing Are the Only Path Left

Comments

  • RedneckHBRedneckHB Posts: 19,661 ✭✭✭✭✭
    Lets try to get this thread some traction...

    Gold accounts for about 71 percent of Venezuela’s $21.4 billion of foreign reserves

    Venezuela has $21 billion. Apple has $130 billion.

    Interesting..


    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 37,619 ✭✭✭✭✭
    I believe the point is they are willing to open the vault for an audit of what gold they do have. Interesting. image

    No Way Out: Stimulus and Money Printing Are the Only Path Left

  • RedneckHBRedneckHB Posts: 19,661 ✭✭✭✭✭
    They should be embarrassed that they hold so little.

    A newbie stock trader will often boast of his returns while a seasoned veteran will not.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,571 ✭✭✭✭✭
    A good read

    …from a couple years ago.
    Or paraphrasing a dictator communist : "You know it's the Capitalist's fault."
  • bluelobsterbluelobster Posts: 1,220 ✭✭✭


    It's not surprising Venezuela has Gold, Chavez was a gold "enthusiast" as well as an above average conspiracy theorist, of course, he made a big political story about bringing it in from the US. and JP Morgan when gold was 20% higher.

    Shockingly a few here speculated, this would cause a major reaction, Ok that's not shocking, JK..
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>Lets try to get this thread some traction... >>




    Golden!
    image
  • bluelobsterbluelobster Posts: 1,220 ✭✭✭
    ^^
    I Like Gold
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Gold is good......some gold is more attractive than coins or bars....imageimage Cheers, RickO
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