Ronan Manly: Bank of England tears up its gold custody contract with Venezuela


9:18p ET Wednesday, January 30, 2019

Dear Friend of GATA and Gold:

Confiscation of Venezuela's gold by the Bank of England, Bullion Star gold researcher Ronan Manly writes today, seems to have been plotted by the United Kingdom and the United States last April when Venezuela's central bank paid Citibank $172 million to recover gold bars kept at the Bank of England that had been given as collateral for a loan.

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In any case, Manly writes, the Bank of England's reputation as a safe and impartial custodian of international gold reserves has been destroyed.

Of course Venezuela's removal of so much gold from the Bank of England might have greatly endangered the gold price management operation of the major central banks, which is centered on the Bank of England.

Manly's analysis is headlined "Bank of England Tears Up Its Gold Custody Contract with Venezuela's Central Bank" and it's posted at Bullion Star here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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