Chavez is going to break J.P. Morgan tonight (WOW)

[Large Sarge]

Hugo Chavez Demands 99 Tons of Venezuelan Gold Returned From the Bank of England
We just reported that Hugo Chavez has nationalized the entire Venezuelan gold industry this afternoon.
Well, Hugo didn't stop there, as latest headlines flashing indicate that Chavez has requested that the Bank of England return 99 Tons of Venezuelan gold held on deposit, and a total of 211 Tons of gold held abroad (WSJ).

For those with any knowledge of the cartel, you know where this is heading.

For those who don't....the Bank of England currently stores Venezuela's gold in the vaults of (per Bloomberg) JP Morgan, Barclays, and the Bank of Nova Scotia.

A last check of physical gold inventory in The Morgue's vault showed a whopping 338,303 total ounces of gold...roughly 10.6 tons.

In an absolute shocker to all who follow gold and silver here, are we about to see the COMEX GOLD market busted/default before COMEX SILVER?????


Look for gold to VAULT past $1800 in the access/ Asian markets tonight when this news spreads.

Got Phyzz?

[Serpo]

Did you say tonight.........I cant wait that long

[Large Sarge]

Chavez is likely dieing of Cancer, he has been to cuba a bunch of times in recent years getting treatment there, he installed some high tech russian missile in country, and now has decided to say "screw it" IMO

you see, once it gets out that they cannot deliver to him (And I am betting he will not quietly take a cash payoff like these silver contract holders at COMEX)

well the whole world will know, there is no gold (or silver)

Chavez is a loud mouth, an actor, pompous, thats why the people love him so much down there....

this is big news

[iOWNme]

If Chavez is such a hard core Nationalist, why did he send his countries Gold to the Rothschild's?

This seems fishy........Doesnt it?

[Large Sarge]

http://www.zerohedge.com/news/chavez-pulls-venezuelas-gold-jp-morgan-great-scramble-physical-starting

[Large Sarge]

If Chavez is such a hard core Nationalist, why did he send his countries Gold to the Rothschild's?

This seems fishy........Doesnt it?

he was installed

I really think he is close to death, he has been going to cuba a lot for therapy, and for about 7-8 months, no one saw him

I have no idea if he is following orders now? or not?

every now and then the bankers get a true wild card

I thought the implosion would occur this fall, maybe they decided to hurry things up

[ximmy]

BofE simply boycotts the delivery, sends cash settlement instead... "So sorry Chavez, what are you going to do?"
:cool: <--banker

[Large Sarge]

BofE simply boycotts the delivery, sends cash settlement instead... "So sorry Chavez, what are you going to do?"
:cool: <--banker

see, I do not think he is quiet about it....

imagine the boss at work is getting some sugar on the side from hot young secretary, she gets some good promotions, nice gifts, etc

well one day the nice gift is a little to late, and she does not get the expected promotion...

now all those wonderful blow jobs are at risk, and so is his marriage....

the hot young secretary decides "enough is enough", and calls the wife.....

The Call the wife, is like calling for physical delivery of the gold....

once the news is out, there is really no way to undo the damage IMO

no more marriage, and no more great blow jobs from the hot secretary.....

[platinumdude]

If he actually does get a delivery he better check it right away for tungsten.

[Serpo]

If he actually does get a delivery he better check it right away for tungsten.

Ah yes of course

[Twisted Titan]

Chavez is a dead man

but cancer is not going to kill him

[Large Sarge]

hey so Sept is traditionally is like the biggest delivery month

so does this cause a stampede?

like does silver get a run also, just from nervous investors?

like yelling fire in a crowded theatre.....

everyone runs for the exits first, and looks around later....

[Serpo]

746

[vacuum]

I wonder if the cancer is of an artificial origin. Perhaps he was covertly irradiated or injected with cancer or something.

[sirgonzo420]

Chavez is a dead man

but cancer is not going to kill him

I think they qualify as "cancer".

[Hatha Sunahara]

South Korea just bought 25 tons of gold and had it stored in London. I think a lot of countries keep their gold in London. Just in case the dictator has to fly out of the country on short notice. The former dictator of Tunisia sent his wife out on a planeload of gold earlier this year. Better to have the gold out in advance. So the Bank of England has the trust of much of the world's owners of gold. I think they will deliver it to Chavez, if they have it, rather than risk being seen as untrustworthy. If they don't have the gold, they might borrow some from the Rothschilds personal vaults. They bragged in the Protocols of Zion about how much gold they own. I think they own enough gold to cover Chavez's demand. It won't be a run on the bank.

If Chavez gets tungsten, or a visit from a drone, the price of gold will explode for a while. Yes, this is significant news.

Hatha

[Horn]

The cancer must have spread to his brain, why are dictators so quick to destroy their country upon exit?

[madfranks]

The OP had no link and I wanted to confirm it; here's what I got.

http://www.kwqc.com/Global/story.asp?S=15286426


The Central Bank said recently that the country has about $17.9 billion in gold out of a total of more than $28.7 billion in international reserves. Chavez said $11 billion worth of the gold is held in other countries.

$11 billion divided by roughtly $1800/oz = 6,111,111 oz. One troy pound is 12 troy oz = 509,259 troy pounds. One troy ton is 2450 troy lb = 207 tons of gold.

The OP said 211 tons held abroad, so that's close enough to verify it in my mind! I wonder what the POG will do in response to this news? If it spikes up, that means a lot of people are guessing that the gold's not there!

[beefsteak]

BofE simply boycotts the delivery, sends cash settlement instead... "So sorry Chavez, what are you going to do?"
:cool: <--banker

The delivery vs cash settlement choices/facts are going to be determined by what category V. deposited the gold under w/r/t the BoD. If it is allocated gold on deposit w/Bank of England or unallocated gold as I understand Jim Rickards' explanations of "deposited gold."

[Bigjon]

If Chavez is such a hard core Nationalist, why did he send his countries Gold to the Rothschild's?

This seems fishy........Doesnt it?

How do you know Chavez is responsible for storing the gold out of country? Did you just jump to that conclusion?

[MAGNES]

The OP had no link and I wanted to confirm it; here's what I got.

http://www.kwqc.com/Global/story.asp?S=15286426



$11 billion divided by roughtly $1800/oz = 6,111,111 oz. One troy pound is 12 troy oz = 509,259 troy pounds. One troy ton is 2450 troy lb = 207 tons of gold.

The OP said 211 tons held abroad, so that's close enough to verify it in my mind! I wonder what the POG will do in response to this news? If it spikes up, that means a lot of people are guessing that the gold's not there!

Good work, I was thinking about this, if these numbers are true, first like others
asked what the hell is going on with all that gold overseas, considering they are
a major oil producer and exporter, second, what's next, they already tried to
remove him from office and failed, Rockefellers and Rothchilds are the main
adversaries here, they own the oil industry and all markets, metals, gold .

Reminds me of the history of Russia, Russia's gold was held in US and
the Rothchilds murdered the Royals and kept the gold, then they murdered
everyone else.

[platinumdude]

Wonder why gold is only up $1.70 tonight.

[MAGNES]

Wonder why gold is only up $1.70 tonight.

He ain't getting his gold.

They gonna give them the Libya treatment.

The criminals own the media, " we make our own reality " David Frum, NRO,
" axis of evil " speech writer, PNAC inner circle, JPost board member, writer.

[Grog]

I think Chavez and Putin are good leaders. Not that I agree with them 100% But they are better than the crap we have here. They are trying to take care of their own.

Our 'leaders' would have sent the dollars to banks overseas.

Having said that, Chavez will have a fun time getting delivery of his country's assets. I wish him the best of luck. Over the last decade, I've appreciated his comments more than Obongo's.

[Grog]

And these comments come from a guy who lost a ton of money when he did 'nationaliztion round 1' a few years ago.

I lost a boat load when I held some miner stocks that had mines in Venezuela. He had nationalization round 1-2 back then. This is to be expected. Not something new.

[Ora Pro Nobis]

President Chavez authorized plan to protect at-risk reserves

Telesur 08/17/2011

The president of Venezuela, Hugo Chávez, approved on Wednesday the Minister of Economy and Finance, Jorge Giordani, and President of the Central Bank of Venezuela (BCV), Nelson Merentes, streamline strategic plan that seeks to protect the international reserves of the country that banks are in the U.S. and Europe and who may be at risk in the financial and economic crisis they face.

During a telephone contact with the state channel, Venezolana de Television (VTV), the Head of State explained that the idea is to bring back to the vaults of the Central Bank's gold assets of this South American country that are at risk deposited in financial institutions hit by the economic crisis of imperialism in Europe and the United States (U.S.).

Chavez said the decision was taken to protect Venezuela's international reserves, which are in gold on the banks of France, Canada, United States, among other nations.

He said that the 29 thousand 900 million dollars in international reserves held by the nation, 18 000 226 000 000 correspond to the gold assets.

"We will continue taking the gold from Guyana to carry money and deposit gold in our vaults," Chavez said after ensuring that these assets could be incorporated into the initiatives from within the Union of South American Nations (UNASUR): The South Bank or regional reserve funds.

"About 600 billion dollars from the reserves of the countries of UNASUR are on the northern banks. (...) How long the South going to finance the development of the North? That is precisely the economic imperialism. It's time. Enough is enough! "He exclaimed.

He said the "gold bar" will be returned to the vaults of the BCV and evaluate the possibility of expanding the portfolio of investments in banks in Russia or China, countries that enjoy a stable economy.

"It took a long time, it was time. Economies are sinking, banks lados.Hay breaking for all to see how are economies of China, Russia to Brazil. Despite all this, our revservas gold in French banks in London, in those countries do not pay us anything or pay interest and use it to lend to other countries and charge interest. How long this dictatorship? "Chavez asked during the telephone.

He explained that the U.S. banking more than 18 billion dollars in gold in Venezuela. In Iglaterra since 1980, is 99.31 tons (about 4 thousand 595 million dollars). In Canada, in Toronto, there are 381 million since 1992. In France, three tons of gold (184 million).

"Look how is Europe'm sad how these countries are reeling due to the crisis of global capitalism. Here we are with difficulties but with high levels of economic strength, "he said.

The president of the BCV, Nelson Merentes, explained that the gold assets in Venezuela began to pull out of the country by a political decision made in 1980, when the domestic gold was moved to the bench by order of the Fund International Monetary Fund (IMF) without Venezuela obtain benefit.

Now, to insulate themselves from the international economic crisis, "we assume the RESPONSIBILITY to protect the gold reserve. The proposition is simple: they took gold in the 80's, we bring them again to have it in the vault "of the Central Bank, said Merentes.

President Chavez reiterated that the decision to nationalize the gold in the South American country, through the enactment of a law intended to protect the Venezuelan economy that is "high levels of strength."

He explained that the rules will be discussed by the Council of Ministers, then advance to the next passage of the law.

President Chavez announced that he will soon meet with his counterparts from Russia, Nicholas Lucashenko, and Iran, Mahmoud Ahmadinejad, for the installation of several joint committees that seek to continue the thrust of the "solid" Venezuelan economy.

http://www.telesurtv.net/secciones/noticias/96593-NN/presidente-chavez-autoriza-plan-para-proteger-reservas-internacionales-en-riesgo/

http://youtu.be/kVfQwidnyGE

[iOWNme]

How do you know Chavez is responsible for storing the gold out of country? Did you just jump to that conclusion?

That is what the OP stated, and the article posted:


"The Bank of England recently received a request from the Venezuelan government about transferring the 99 tons of gold Venezuela holds in the bank back to Venezuela,

Who owns the bank of England?

[sirgonzo420]

That is what the OP stated, and the article posted:



Who owns the bank of England?

Chavez didn't ask to store the gold at the BoE; that decision was made in 1980. Chavez has only been in power since 1999.

[Large Sarge]

I really think Chavez is near death...,

This might be a true "wild card" issue

plus, I seem to remember that the oil from macondo gulf well, was a deep river that went to venezuela....

I am not saying venezuela is out of oil (by no means), but maybe the wells are taking a little longer to fill up, since part of it is spewing into the gulf of mexico...

but the big issue to me is I think he is close to death, and when you get to tha tpoint, you start thinking "how will I be remembered", as a great leader, brave and honest, or just another stooge......

thoughts of your own mortality can have profound effects on peoples hearts.....

[iOWNme]

Chavez didn't ask to store the gold at the BoE; that decision was made in 1980. Chavez has only been in power since 1999.

I stand corrected.

[mamboni]

CC: I want my gold back.
BO: How about some GLD?
CC: FU Obama! I want my gold!
BO: How about some GLD and a cash bonus?
CC: Nothin' doin' Obongo. Hand over the bullion!
BO: Yo homey, we made over move, now you go.
CC: FU Barack! And don't call me Hugo!

[Canadian-guerilla]

maybe Hugo will have a sudden death and there goes the " return our gold " request

[Awoke]

CC: I want my gold back.
BO: How about some GLD?
CC: FU Obama! I want my gold!
BO: How about some GLD and a cash bonus?
CC: Nothin' doin' Obongo. Hand over the bullion!
BO: Will you settle for these rare Trolololo commemorative wafers?
CC: What?
BO: You know, that Russian trolololo guy? Some of those wafers? They're quite rare...
CC: Hell no! Give me my JM bars!
BO: Yo homey, we made over move, now you go.
CC: FU Barack! And don't call me Hugo!


Fixed for you and Josey.

[FreeEnergy]

So, any news?

So just curious:
http://www.globalsecurity.org/intell/ops/images/hugo-chavez-01.jpg

You think that Jewish looking boy on the picture with 8-pointed jewish award star and a Rothschild unicorn is going to break Bank of England?

[Bigjon]

Last time I checked the Rothschild star had 6 points. Where does this info about Unicorn's come from? I haven't heard of a lot of things and I'm just curious.

[Large Sarge]

I think chavez is near death FWIW

whether he is following a script now?

He is making a pretty big stink about his gold, and if it was scripted, well wouldn't some of the western media pick it up? and spoon feed it to flouridated zombies...

I see nothing on the MSM about chavez demanding his gold

[JJ.G0ldD0t]

I think chavez is near death FWIW

whether he is following a script now?

He is making a pretty big stink about his gold, and if it was scripted, well wouldn't some of the western media pick it up? and spoon feed it to flouridated zombies...

I see nothing on the MSM about chavez demanding his gold

Agreed...

Think it's a pretty safe bet that he's fighting cancer too...

Seen this guy lately? He looks ROUGH! - like he's put on 20 yrs....


766

[Grog]

Think it's a pretty safe bet that he's fighting cancer too...

He is undergoing cancer treatment. At least that is what the media is reporting. He looks like it too.

link (http://www.miamiherald.com/2011/06/30/2294037/hugo-chavez-admits-cancerous-tumor.html)

[skid]

Well, it looks like gold has made a $100 jump because of this...

[StreetsOfGold]

I suspect that "Rockets" are no longer in vogue?

[JJ.G0ldD0t]

He is undergoing cancer treatment. At least that is what the media is reporting. He looks like it too.

link (http://www.miamiherald.com/2011/06/30/2294037/hugo-chavez-admits-cancerous-tumor.html)

ahh - Ok I hadn't checked into it. I assumed it was just a rumor.
Thanks

[Horn]

Translated page

Caracas. EFE. The president of Venezuela, Hugo Chávez, confirmed Wednesday that draw the gold reserves in U.S. and European economies to put in "solid" like China, Russia and Brazil also announced that it will nationalize the gold to make domestic funds.

Chávez said the U.S. get the gold. UU. wing is healthy because of economic crisis plaguing the country and Europe, while allies such as China, Russia and Brazil are firm.

Venezuela aims to repatriate some 11,000 million in gold stored in foreign banks, nationalize gold mining and to increase production and make the most of the metal in reserves, taking advantage of current record prices.

Chavez added that most of the gold was sent abroad in the 80's, but also during his mandate "something has been placed" in a bank in England.

The president said that Venezuela is 99.21 tonnes of gold in British banks, which equates to about $ 4,595 million.

The U.S. newspaper The Wall Street Journal reported that Venezuela plans to transfer $ 6,300 million in cash it holds in different banks, especially European, financial institutions of those nations allied to Caracas.

In that sense, the daily New York specifies that the Bank of England recently received a request from the Venezuelan government to transfer 99 tons of gold stored in that European financial institution its own central bank, confirmed sources cited by The Wall Street Journal.

Chavez also reported that Venezuela has $ 29,900 billion in reserves, of which $ 18,349 million are in gold.

"We will nationalize the gold and we will make, among other things, reserves," said the president.

Chavez approved the regulation on the nationalization of mineral within the framework of the so-called Enabling Law that was awarded last December that allows you to legislate without the consent of Parliament.

The president said that thanks to this law is the state that will control the exploration, mining of gold and all related activities to take control of an area that still persist "mafias who extract riches and take them in the country" without giving details.

In May, Chavez said the national gold production is around 11 tonnes a year and a similar amount is smuggled to other countries.

http://www.nacion.com/2011-08-19/Mundo/hugo-chavez-nacionaliza-industria-minera-del-oro.aspx

[Grog]

I suspect he has an account here, and that he heard that if you don't hold it, you don't own it.