Chavez demands physical delivery

[Mossy]

Well, this should liven up the PM market:

http://www.zerohedge.com/news/chavez-pu ... l-starting

As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting?
Submitted by Tyler Durden on 08/17/2011 - 16:27 In addition to the nationalization of his gold insutry, Chavez earlier also announced that he would recover virtually all gold that Venezuela hold abroad, starting with 99 tons of gold at the Bank of England. (more at link)

and:

http://www.zerohedge.com/contributed/th ... hink-again
Think the Crisis Is Over? Think Again!
Submitted by Phoenix Capital Research on 08/17/2011 16:24 -0400

As much as the mainstream financial media likes to pretend that the financial crisis is over, unfortunately it isn’t. In fact, what’s going to happen next will very likely make 2008 look like a joke.

There is one simple reason for this: the “Fed” safety net that pulled the markets back from the brink is gone. (more at link)

"My oh my, what a lively day"

[shinnosuke]

For the first time since I learned of the existence of Hugo Chavez, I think I like the guy for what he's doing.

[Delawhere Jack]

I see a plane crash in Hugo's future........

[68Camaro]

Interesting stuff. Chavez (or his advisors, or handlers, at least) are just cagey enough to be doing this on purpose, with an eye to bringing on a crash, on purpose.

[Thogey]

Hugo Chavez has half a brain in his head (unlike our our representatives).

Ruthless dictator or not. the man is not a clown. he is very intelligent, very aware of the economic realities.

We should hire him as an economic adviser.

But he is the devil because he exploits the economic resources of his country.

Political ideology aside: he is a fierce competitor in the hemisphere, and will be a huge problem for us in the future.

[Mossy]

Watch him speak some time. He is a lunatic. A very intelligent and ruthless nutcase.

[Know Common Cents]

I understand that one's need to take physical delivery of PMs is the last thing surviving to go before the onset of total insanity. The guy is a certified lunatic, but still has a few rational brain cells left. Only thing, I would've demanded the return of my gold long before this. Why did you wait so long, Hugo?

[shinnosuke]

Crazy like a fox is how my hill-billy father describes people like Chavez. You might think they are nuts, but they are actually cool and calculating. Everything is just acting for the camera.

And is it true that Chavez opposed the implementation of the Amero as a Western Hemisphere currency? I've heard rumors...

[theo]

99 TONS? I'm surprized that a country like Venezuela has what? 5 billion in gold? It will be interesting to see if they can get it all back.

[Thogey]

Crazy like a fox is how my hill-billy father describes people like Chavez. You might think they are nuts, but they are actually cool and calculating. Everything is just acting for the camera.

And is it true that Chavez opposed the implementation of the Amero as a Western Hemisphere currency? I've heard rumors...

Dismissing Chavez as a 'lunatic" is a huge mistake, a cop out and an easy way to avoid the reality: The US is represented by incompetent slobs on a payroll backed by paper that is backed by the future misery of all WORKING Americans.

We suck!

[IdahoCopper]

99 TONS? I'm surprized that a country like Venezuela has what? 5 billion in gold? It will be interesting to see if they can get it all back.

OIL = GOLD

[Thogey]

I'll bet Chavez will be described as a lunatic for taking delivery.

[NHsorter]

99 TONS? I'm surprized that a country like Venezuela has what? 5 billion in gold? It will be interesting to see if they can get it all back.

OIL = GOLD

Exactly, oil = gold. 5 billion is just the beginning of what this guy could procure in gold if he chose to do so. Thogey is spot on as well. We need to keep an eye on this guy. Sure he seems a little nuts, but he can really raise some hell if he wants. He's a sharp one. Probably a sociopath. Come on CIA, where are your balls?

[68Camaro]

Here's an article with more specifics and some broader discussion on what he's doing

http://www.reuters.com/article/2011/08/ ... 3L20110817

[AGCoinHunter]

Political ideology aside: he is a fierce competitor in the hemisphere, and will be a huge problem for us in the future.

If the cancer doesnt get him first.


Was reading about this earlier. Said this is going to make his government a lot less transparent which in turn is going to skyrocket the countries borrowing cost. Definately trying to engineer a economic crash with this stunt.

[Mossy]

99 TONS? I'm surprized that a country like Venezuela has what? 5 billion in gold? It will be interesting to see if they can get it all back.

Venezuela did not get that gold under Chavez, and Chavez cannot steal it while it is out of country in a foreign bank.

And I do not "dismiss" him as a nutcase. He is very dangerously insane, even under the facade of lunacy.

[scrapper2010]

"Mr Chávez has rejected doubts over whether the Venezuelan central bank has sufficient vault space to store 365.8 tonnes. “If there isn’t enough room to store the gold in the central bank vaults, I can lend you the basement of the Miraflores presidential palace,” he said."

Yeah, I'll bet you would!

[aloneibreak]

just another article about chavez

http://news.goldseek.com/GoldSeek/1314018000.php

from the article...

" 40 shipments will be needed to carry the 17,000 400oz bars by sea. Piracy must be a real concern given the value of the bullion and Venezuala should ensure that the shipment is well protected. "

in my minds eye i can see it all loaded up in old time pirates chests !

thats a whole bunch of gold

[John_doe]

The mass media gives Chavez so much crap, yet his countries gold was in WESTERN banks.

Surprised? Never!

[John_doe]

Next they are going to tell us that al queda, and Kim Jong are pulling out of western banks. That's when the REAL financial crisis occurs.

[John_doe]

Crazy like a fox is how my hill-billy father describes people like Chavez. You might think they are nuts, but they are actually cool and calculating. Everything is just acting for the camera.

And is it true that Chavez opposed the implementation of the Amero as a Western Hemisphere currency? I've heard rumors...

Rejected the amero? Took physical delivery? Doesn't sound all that crazy to me.

[John_doe]

just another article about chavez

http://news.goldseek.com/GoldSeek/1314018000.php

from the article...

" 40 shipments will be needed to carry the 17,000 400oz bars by sea. Piracy must be a real concern given the value of the bullion and Venezuala should ensure that the shipment is well protected. "

in my minds eye i can see it all loaded up in old time pirates chests !

thats a whole bunch of gold

Yaaaaaarrrrrrr matey!

[fansubs_ca]

Piracy must be a real concern

Yaaaaaarrrrrrr matey!

Yaaaaaaaarrrr! Oh wait, I'm the wrong kind of pirate! I specialize in VHS, maybe
some bittorrent.

[John_doe]

Piracy must be a real concern

Yaaaaaarrrrrrr matey!

Yaaaaaaaarrrr! Oh wait, I'm the wrong kind of pirate! I specialize in VHS, maybe
some bittorrent.

You pirate VHS? What is this 1989?

[Redneck]

.

Saw this comment on another site...

First the funny part.

Telegram


To: H. Chavez

From: JPM

RE: Gold on Deposit

Your Gold was available for pick-up. It was located in our vault in Tripoli but has been stolen. We suggest you call your insurance company. Our warranty does not cover civil unrest. Sorry about that.

Have a Nice Day

The sad part is that I can actually see them trying to do this...

>