Exclusive: Venezuela prepares to fly tonnes of central bank gold to UAE - source

Reuters ^ | January 31, 2019 | by Corina Pons

[Oldeconomybuyer]

CARACAS - Venezuela will sell 15 tonnes of gold from central bank vaults to the United Arab Emirates in coming days in return for euros in cash, a senior official with knowledge of the plan said, in a bid by the cash-strapped country to stay solvent.

The sale of gold reserves that back the Bolivar currency began on Jan. 26 with a shipment of 3 tonnes, the official said, and follows the export last year of $900 million of unrefined gold to Turkey.

[Oldeconomybuyer]

Someone's getting ready to bug out.

[VietVet876]

Uh oh. There’s a lot of ocean between the two countries.

[BenLurkin]

Seems Maduro the socialist isn’t going to run out of other people’s money after all.

[John S Mosby]

the Japan times has an active photog taking photos of the aircraft parked (visible from the highway). The company-— a russkie company called Nordwind. Looks like a russkie copy of Boeing... not sure.

Drop the gold off in Cuba? Not too smart, and doubt Russia would do that. It’s the chi-coms who have the largest bill due from Maduro and his commie skimmer. They get the gold... Maduro et all are... toast, am thinking.

[Ouderkirk]

It’s a deliberate attempt to bankrupt the nation and poison the situation for anyone who follows him as leader

[Red Badger]

There’s a lot of landing places between the two countries, too.....................

[C210N]

When you no longer can run out of other people’s money, you might as well run with people’s money.

[Buckeye McFrog]

It’s a deliberate attempt to bankrupt the nation and poison the situation for anyone who follows him as leader

Bingo. Nailed it.

[Midwesterner53]

Declare a no fly zone of Venezuela to take care of this problem.

[sparklite2]

The Bolivar is backed by gold?
With a million percent inflation,
that seems ... unpossible!

[ProudDeplorable]

The body of Venezuela is already being picked over. If Maduro makes it out alive, he’ll be a very rich man. Implementing socialism in a country is like instituting the mob as your government.

[blueunicorn6]

Trading gold for euros.

[Darksheare]

Maduro, more than likely.
Now, if people would figure it out and make sure his loot doesn’t leave...

[DoodleDawg]

Looks like a russkie copy of Boeing... not sure.

It's an actual Boeing. A 777.

[proust]

Can’t eat gold, it winds up being an albatross around his neck.

[sparklite2]

unrefined gold to Turkey

---

There’s about one ounce of gold in a ton of gold ore.
You’d think the shipping costs of getting tons of ore
to Turkey would pretty much eat up the value of the gold.

[DoodleDawg]

It’s a deliberate attempt to bankrupt the nation and poison the situation for anyone who follows him as leader

More likely Russia and China are forcing him to turn the gold over to them before the next guy comes along and repudiates all the loans they made to Maduro's regime.

[I want the USA back]

“gold reserves that back the Bolivar currency”
they didn’t back it very well. The currency has lost all its value and is worthless.

[zerosix]

Do “journalists” and “news editors” ever actually study the language and/or spelling?

I know we’re speaking about Reuters but even they should know the different between “tonnes” and “tons!”