You are here

Venezuela's 20-ton pile of gold in suspense in Caracas vault

Section: Daily Dispatches

By Patricia Laya
Bloomberg News
Thursday, January 31, 2019

With 20 tons of gold stacked up for loading and shipping out of Venezuelan vaults, the mystery surrounding them -- and the saber-rattling they're sparking -- is intensifying.

The Russian airplane that a Venezuelan lawmaker alleged was in Caracas to spirit the gold away left the country without it. But now a cargo plane has landed from Dubai, triggering a new wave of speculation that the gold is headed there instead.

... Dispatch continues below ...



ADVERTISEMENT

Fisher Precious Metals is preparing and equipping clients for the upcoming 'Everything Bubble'

Fisher Precious Metals, voted North America's bullion dealer of the year for 2018 and known for personal service and great pricing, has been helping Americans and Canadians protect their wealth with precious metals for more than a decade. Enjoying a five-star client rating across the internet with no complaints at the Better Business Bureau, the team at Fisher Precious Metals works hard to serve you.

We have helped thousands of clients in buying and selling bullion, arranging segregated and offshore storage, establishing precious metals IRAs, and obtaining certified precious metals appraisals. We provide security to our clients with our Bullion Authenticity Guarantee. We recommend that you read our article "How to Avoid Bullion Counterfeits":

https://fisherpreciousmetals.com/precious-metals/bullion-authentication/

As a family-owned business, we strive to help you assess your wealth-protection goals and overall investment objectives. From the new precious metals buyer to the seasoned bullion investor, we are here to help you with a no-pressure, confidential consultation. Rest assured that everyone in our firm owns physical precious metals and no one is compensated via commission -- period.

Fisher Precious Metals is your full-service precious metals investment partner for life. Please call us at 1-800-390-8576 or visit us here:

https://fisherpreciousmetals.com



As Nicolas Maduro, the authoritarian ruler, tries to stave off mounting international pressure to relinquish power, the fate of those gold bars has become a cause of great concern both in Venezuela and abroad. Valued at about $850 million, they are an important source of wealth in a country that has plunged into extreme poverty under Maduro's leadership.

On Thursday, Marco Rubio, the Florida senator who has helped spearhead the U.S.'s hard-line stance toward the Maduro regime, fired off a tweet calling out the United Arab Emirates' Noor Capital as the financial firm orchestrating the gold transaction with Venezuelan authorities. Rubio went on to warn the firm that both it and any airline it hires to take the gold away will be subject to U.S. Treasury sanctions.

As of late today the 20 tons had yet to leave the central bank, according to a person with direct knowledge of the matter. They had, though, been weighed and separated for shipment, the person said. He did not know where the gold might be heading or the nature of the transaction. The cargo plane was still at the airport in Caracas, according to the website Flightradar24.

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2019-02-01/maduro-s-20-ton-pile-...

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16