Source: End The LieMadison Ruppert
In August Venezuela’s President Hugo Chavez announced that he would
be repatriating the foreign-held gold reserves in American and European
banks and they received the first shipment of gold from European
countries on Friday.
The Venezuelan central bank reports that about $300 million in gold was brought in to Caracas by plane and they plan to bring 160 tons held abroad back to Venezuela.
The president of the central bank, Nelson Merentes said that the
first shipment came from “various European countries” by way of France
and called the arrival of the gold bullion a “historic” moment for his country, according to the Wall Street Journal.
Hugo Chavez said, “Now [the gold] will go to a place from which it
should have never left: the central bank vaults [in Caracas]; not those
in London or in Europe, but our own land.”
This is likely quite a good move as Western banks are becoming
increasingly exposed to massive amounts of derivatives and sovereign debt crises that are wracking several economies.
These crises very well might be engineered by central banks and their
“too big to fail” cronies just as the crash in 2008 was, and Chavez
might preempting a possible gold run by demanding physical delivery of his gold now before there is no gold to deliver.
While Merentes would not give the specific number of tons of gold
brought shipped to Venezuela on Friday, he said that the shipment was
worth roughly $300 million.
This comes as U.S. stocks see the worst Thanksgiving drop since 1932 and all indicators show the European sovereign debt crisis continuing to worsen.
