Home > Boards > Canadian > Mining/Resources > Sprott, Inc (TSX:SII)

Ronan Manly: Romania joins gold repatriation exodus

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
NYBob Member Profile
Member Level 
Followed By 827
Posts 72,092
Boards Moderated 73
Alias Born 11/22/03
160x600 placeholder
NYBob Member Level  Tuesday, 03/05/19 10:05:03 PM
Re: Tommy post# 37
Post # of 48 
Ronan Manly: Romania joins gold repatriation exodus

Submitted by cpowell on 02:25AM ET Wednesday, March 6, 2019.

Section: Daily Dispatches
9:26p ET Tuesday, March 5, 2019

Dear Friend of GATA and Gold:

Bullion Star gold researcher Ronan Manly today examines the effort
in Romania's parliament to repatriate the country's gold reserves
from the Bank of England and concludes that it opens a new front
between democracy and the arrogance and unaccountability
of the central bank.

If legislators enact the bill, Manly writes,
"Romania looks set to join the ranks of Hungary, Austria, Germany,
and the Netherlands in bringing gold bars back into domestic storage.
Which European nation will be next after Romania?
Poland is a likely candidate, with 102.9 tonnes of gold
stored at the Bank of England."

Manly's analysis is headlined "The Domino Effect:
Romania Joins Gold Repatriation Exodus" and it's posted
at Bullion Star here:


https://www.bullionstar.com/blogs/ronan-manly/the-domino-effect-romania-joins-gold-repatriation-exodus/

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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

Submitted by cpowell on 02:17AM ET Thursday, January 31, 2019.
Section: Daily Dispatches
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.

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:

https://www.bullionstar.com/blogs/ronan-manly/bank-of-england-tears-up-i...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * * *

In Maduro's Venezuela, even counting gold bars is a challenge

Submitted by cpowell on 01:33AM ET Thursday, January 31, 2019.
Section: Daily Dispatches
By Laura Millan Lombrana
Bloomberg News
Wednesday, January 30, 2019

Venezuela is home to rich gold deposits and holds billions of dollars
of foreign reserves in gold bars in the central bank's vaults.
The question is: How much is there?

The answer has taken on added significance as beleaguered President
Nicolas Maduro faces increasing pressure to resign.
Last week countries including the U.S. and U.K. recognized
the leader of the National Assembly, Juan Guaido,
as the Venezuela's legitimate leader, amid mass protests.
On Monday, the Trump administration issued new sanctions that
effectively block crude exports to the U.S.,
where Venezuela gets the bulk of its cash.

While crude is by far Venezuela's largest export, refined oil and
then gold both make up significant sources of revenue,
according to data compiled by the Observatory of Economic
Complexity of the Massachusetts Institute of Technology.
But both the nation's gold reserves and mining production
have dropped in recent years as Maduro's regime used
the yellow metal to generate hard currency in
international transactions -
- and even to exchange it for food and medicine. ...
... For the remainder of the report:

https://www.bloomberg.com/news/articles/2019-01-30/in-maduro-s-venezuela...


* * *


Don't deal in Venezuelan gold, White House says in anti-Maduro push

Submitted by cpowell on 01:04AM ET Thursday, January 31, 2019.
Section: Daily Dispatches
By Shaylim Castro and Jeff Mason
Reuters
Tuesday, January 29, 2019

CARACAS, Venezuela -- The White House warned traders on Wednesday
not to deal in Venezuelan gold or oil following its imposition of
stiff sanctions
aimed at forcing socialist President Nicolas Maduro from power.

National security adviser John Bolton tweeted that traders should
not deal in gold, oil, or other commodities "being stolen"
from the Venezuelan people, as opponents of Maduro's government
worried that a Russian-operated plane had shipped gold
out of Caracas this afternoon.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146447004

God Bless America


My opinions are my own and and DD I post should be confirmed as unbiased
Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist