New International Court Case: Is The Bank Of England Really Going To Deny Venezuela The Right To Its Gold To Spend On Coronavirus Fight?

Venezuela just can’t catch a break as Western, first world nations continue to pillage & plunder whatever the Latin American nation has left…

(by Half Dollar) Just when you thought it couldn’t get any worse in Venezuela, well, yeah.

Coronavirus happened.

In fact, it’s so bad in Venezuela right now, that when we reported on Venezuela last month, we were reporting on a nation that had descended into Mad Max:

Also, recall that earlier this month, a couple of paid American mercs were caught doing who knows what for who knows who:

Needless to say, the optics have been terrible for the Deep State Globalists in general, and the Regime Changers specifically.

Fast forward to this week, and Venezuela is in dire need of some money.

Sounds reasonable.

I mean, what nation isn’t in need of, or simply printing and spending, endless amounts of money right now?

It’s too bad they can only print worthless Bolivars in Venezuela and not soon-to-be worthless US dollars.

But such is one’s place on the totem pole of unbacked, debt-based fiat currency, and it just so happens that being in Bolivars is not exactly where one wants to be.

But I digress.

Gold is money!

All around the world, eight days a week.

And Venezeula has gold reserves!

Sort of.

You see, the US has sanctioned Venezuela generally, and Venezuelan gold specifically, with the US basically claiming Maduro uses Venezuela’s gold for his own personal profit, and the Bank of England has gone right along with the US because, well, let’s just be blunt about it: The “cartel” is international in nature, with the US and the UK joined at the hip.

For now.

There will come a point in time when the US, or the UK, will no longer have any gold they’re willing to give up.

But there I go again.


Back to my main point of this article: Venezuela needs access to its money (gold), and they’re having one heck of a time getting it.

From Reuters:

CARACAS (Reuters) – Venezuela’s central bank has made a legal claim to try to force the Bank of England to hand over €930 million ($1.02 billion) of gold so President Nicolas Maduro’s government can fund its coronavirus response, according to the document submitted in a London court.

The claim follows a request Venezuela made to the Bank of England in April to sell part of its gold reserves there and send the proceeds to the United Nations to help with the country’s coronavirus-fighting efforts.

The Bank of England declined to comment on the claim.

Furthermore, Britain does not recognize Maduro as the legitimate President of Venezuela, and if Britain could just get that pesky socialist “dictator” to go away, or die, or whatever, the Brits could steal Venezuela’s gold, which probably isn’t even there anyway, with the greatest of rubber stamp ease!

Lesson Learned: When Venezuela owns gold, but the gold is not in Venezuela’s own possession, and Venezuela isn’t been able to get its own gold back, this is what we call “counter-party risk”.

In other words, “if you don’t hold it, you don’t own it”.