End Times and Current Events
December 03, 2021, 06:54:09 am
Welcome, Guest. Please login or register.

Login with username, password and session length
News: "Search the scriptures; for in them ye think ye have eternal life: and they are they which testify of me." John 5:39 (KJB)
  Home Help Search Gallery Staff List Login Register  

Chavez Decision to Recall Overseas Gold Reserves Could Reflect Sanctions Fear

August 08, 2018, 02:38:10 am suzytr says: Hello, any good churches in the Sacto, CA area, also looking in Reno NV, thanks in advance and God Bless you Smiley
January 29, 2018, 01:21:57 am Christian40 says: It will be interesting to see what happens this year Israel being 70 years as a modern nation may 14 2018
October 17, 2017, 01:25:20 am Christian40 says: It is good to type Mark is here again!  Smiley
October 16, 2017, 03:28:18 am Christian40 says: anyone else thinking that time is accelerating now? it seems im doing days in shorter time now is time being affected in some way?
September 24, 2017, 10:45:16 pm Psalm 51:17 says: The specific rule pertaining to the national anthem is found on pages A62-63 of the league rulebook. It states: “The National Anthem must be played prior to every NFL game, and all players must be on the sideline for the National Anthem. “During the National Anthem, players on the field and bench area should stand at attention, face the flag, hold helmets in their left hand, and refrain from talking. The home team should ensure that the American flag is in good condition. It should be pointed out to players and coaches that we continue to be judged by the public in this area of respect for the flag and our country. Failure to be on the field by the start of the National Anthem may result in discipline, such as fines, suspensions, and/or the forfeiture of draft choice(s) for violations of the above, including first offenses.”
September 20, 2017, 04:32:32 am Christian40 says: "The most popular Hepatitis B vaccine is nothing short of a witch’s brew including aluminum, formaldehyde, yeast, amino acids, and soy. Aluminum is a known neurotoxin that destroys cellular metabolism and function. Hundreds of studies link to the ravaging effects of aluminum. The other proteins and formaldehyde serve to activate the immune system and open up the blood-brain barrier. This is NOT a good thing."
September 19, 2017, 03:59:21 am Christian40 says: bbc international did a video about there street preaching they are good witnesses
September 14, 2017, 08:06:04 am Psalm 51:17 says: bro Mark Hunter on YT has some good, edifying stuff too.
September 14, 2017, 04:31:26 am Christian40 says: i have thought that i'm reaping from past sins then my life has been impacted in ways from having non believers in my ancestry.
September 11, 2017, 06:59:33 am Psalm 51:17 says: The law of reaping and sowing. It's amazing how God's mercy and longsuffering has hovered over America so long. (ie, the infrastructure is very bad here b/c for many years, they were grossly underspent on. 1st Tim 6:10, the god of materialism has its roots firmly in the West) And remember once upon a time ago when shacking up b/w straight couples drew shock awe?

Exodus 20:5  Thou shalt not bow down thyself to them, nor serve them: for I the LORD thy God am a jealous God, visiting the iniquity of the fathers upon the children unto the third and fourth generation of them that hate me;
View Shout History
Pages: [1]   Go Down
Author Topic: Chavez Decision to Recall Overseas Gold Reserves Could Reflect Sanctions Fear  (Read 44 times)
« on: September 04, 2011, 12:29:11 pm »

Chavez Decision to Recall Overseas Gold Reserves Could Reflect Sanctions Fear| FoxNews.com

By Judson Berger   Published August 18, 2011

Hugo Chavez' decision to recall Venezuela's gold reserves and nationalize the industry could reflect his paranoia about being hit with financial sanctions, analysts said.Chavez and other officials in his administration claimed on Wednesday that the move to recall about $11 billion in reserves stored in U.S. and European banks was being done to protect the country from economic troubles in the developed world. But George Gero, a financial adviser with RBC Wealth Management, said Chavez is effectively moving the assets out of countries "that he considers could freeze his gold."  But Venezuelan state oil company PDVSA was hit with U.S. sanctions in May over its ties to Iran, drawing outcry from Chavez's government. Caracas is also facing legal challenges over its gold operations. By taking gold reserves out of overseas banks and bringing them back to Venezuela, Chavez could be reducing the leverage that other governments and court systems have against his government.  Gero said, calling the announcement somewhat of a "political statement." Chavez suggested as much Wednesday, accusing western governments of "practically a confiscation" of international reserves in the Arab world. According to Reuters, Chavez said Venezuela must avoid that outcome and link its economy to those of Russia, China and other developing nations.Venezuela has 366 tons of gold, which is worth about $18 billion though gold prices hit a new high on Thursday on news of Chavez's decision.  But the move to take gold reserves out of the U.S. and Europe may not have much impact on those countries. Gerald O'Driscoll, a Cato Institute fellow and former economic adviser at the Federal Reserve Bank of Dallas. Rather, he said "it's interesting that he's motivated to do it." He speculated concerns about tensions with the U.S., could be making him "paranoid." "He wants to be judgment-proof, so that means you better not have assets outside your country," O'Driscoll said. "Perhaps he feels there's reverberations coming."   "I think he's realized that gold has become another currency so this is one way of shoring up his currency." . As for Chavez's move to nationalize the industry, both O'Driscoll and Gero said it's a way to raise money, consolidate power and diversify the state economy beyond oil. With oil prices dropping, that hurts Venezuela's ability to repay loans to lenders like Russia and China.Chavez has raised the idea of withdrawing Venezuela's reserves from U.S. banks repeatedly in the past. Chavez said he would soon issue the decree for the nationalization of the gold mining industry so that the government can increase control over the gold produced.

Report Spam   Logged

Share on Facebook Share on Twitter

Pages: [1]   Go Up
Jump to:  

Powered by EzPortal
Bookmark this site! | Upgrade This Forum
Free SMF Hosting - Create your own Forum

Powered by SMF | SMF © 2016, Simple Machines
Privacy Policy