Posted on 06/18/2019 9:26:28 PM PDT by luv2ski
ENTEBBE, Uganda—The government of Venezuelan President Nicolás Maduro is selling off his country’s gold reserves. Some of it has passed through a secretive operation in East Africa, a gambit that evades U.S. sanctions.
On two early-March flights, at least 7.4 tons of gold with a market value over $300 million moved from Venezuela to a refinery in Uganda, say officials in Venezuela and Uganda, a foreign diplomat and Venezuelan opposition lawmakers, who have concluded Mr. Maduro’s government exported the ingots.
The gold arrived on a Russian charter jetliner in two shipments at the international airport in Entebbe, says Ugandan national-police spokesman Fred Enanga. The accompanying paperwork identified the ingots, some with stamped labels partially scratched off, as Venezuelan central-bank property, says a senior Ugandan police officer who saw the bars and documents. Flight records show the trips originated in Caracas, Venezuela.
The shipments expose one link in a global underground economy many suspect is helping Mr. Maduro cling to power by bypassing the U.S.-dominated international finance system. Washington has recognized opposition leader Juan Guaidó as Venezuela’s legitimate president, slapped financial and other sanctions on Venezuelan officials and institutions, and threatened penalties for others doing business with the regime.
(Excerpt) Read more at wsj.com ...
Yes, I know.
$1,350.00 was the most recent ‘goal’; it hasn’t been performing as well in the past few years. Just a little upwards motion, then big drops.
She’s smokin’ HOT today! $1,384.40, currently. :)
LOL! You’re right, of course.
I’ve been in the PM Game for 15 years now. As a teen I spent my allowance money on Commodities, versus nail polish and Tiger Beat magazines...
...way back in the Dark Ages when you used a newspaper, stubby pencil and a telephone (attached to the wall! *GASP*) to invest. Chocolate. Coffee. Rice. Oil. Pork Bellies. It was a hobby I shared with my Dad and Grandpa.
I’m currently not buying or selling; just sittin’ pretty.
And I still don’t buy nail polish or magazines. ;)
My first silver buy was in 1987. Back when you major banks had a Metals desk. Walk up. Plunk Down cash, and walk out with rounds, bars, whatever.
No premium, either. I think silver was around $4 an oz before the Hunt brothers started playing games.
L
Oh, yes. Dad & Grandpa had some CHOICE words for The Hunt Brothers back then, LOL!
I inherited Grandpa’s coin collection. It’s been fun going through it, as he never let us kids ‘play’ with it in the past.
Nothing terribly valuable; probably the most interesting things are a few REALLY old Silver Dollars and I think he’s saved one or more of every Wheat Penny ever minted. Woo-Hoo! Some of them are now worth a whole nickle. ;)
There’s a lot of folks out there waiting
for fifty dollar silver to come back, so
they can finally sell.
Not sure we’ll see that again. BUT - I’d cash out gold first if need be and hold on to the silver.
JMHO. YMMV. :)
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