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The Banking Dragon’s Latest Scheme to get Its Claws on Fresh Gold!

from The Wealth Watchman:

As the manufactured decline in precious metals drags on, the banking powers have bled a severe, epic tonnage of gold.  We’re talking thousands of tonnes of gold in just a few short years. While they’ve managed to buy the dollar(and their system) some more precious time, the cost has been tremendously high.

This has forced the banksters to become increasingly….um….creative(shall we say), in coming up with ways to get their hands on new gold to shuttle into their dying, international, rehypothecated, gold ponzi scheme.  There are few things they haven’t tried doing, but their latest gold grabs are both tragic and hair-raising for several reasons.

For instance, consider this genius’s grand strategy to reduce his country’s economic hardships:

Ugh!  Yes, you read that right…President Maduro continues to ensure that Venezuela is fast-tracked to 3rd-world status, by shipping off his country’s gold reserves at the lowest dollar price in 5 years! Just look at this latest headline highlighting his gameplan to shuttle some fresh gold to the banksters, for their endless crime spree:

 

 Bank of Venezuela Pawns $1 Billion dollars of Gold Reserves

 

Why would he do such a thing?  Well, he is an avowed Marxist, but he’s also a logical, self-serving political loser.  Take a gander at this snippet below:

“International firms have calculated that in 2015 the Venezuelan government’s fiscal deficit could reach $25 billion. So far the government has chosen to cover part of this deficit by printing money without gold backing. This has caused an inflationary spiral that according to experts will put inflation in three digits.

Although the central bank did not formally announce the swap, information about it has filtered through international markets. This contributed to the rebound in oil prices in the world market.

So, the official story of why they’re swapping the gold is that Maduro is trying, desperately, to keep the entire ship of state from collapsing on his watch.  He’s frantically trying not to sink things, especially since he’s Hugo’s “heir-apparent”.  Ah, but if you thought those lines were troubling, read on, it gets much weirder!

“The Central Bank of Venezuela has pawned nearly $1 billion of its gold reserves, sources close to the central bank say. The swap operation, as it is called in the financial markets, was signed with the US bank Citibank, which was chosen from a group of five international organizations, which also aspired to structure this financial instrument.

Although details of the operation are unknown, experts have estimated that the US bank will charge a fee of between 6 and 7 percent for preparing the swap. The gold remains in the vaults of the Bank of England. But it would be taken as collateral in case the Central Bank of Venezuela does not pay on time the amount borrowed from Citibank.

It was thought that the swap’s value would be $1.5 billion, but in the end a lower figure was achieved. The funds will be used to pay for imports, an unofficial source said.”

Waaaait a minute…folks! 

Did anyone else catch what was wrong with that statement?

Brothers, read these lines again, carefully:

“Although details of the operation are unknown, experts have estimated that the US bank will charge a fee of between 6 and 7 percent for preparing the swap. The gold remains in the vaults of the Bank of England. But it would be taken as collateral in case the Central Bank of Venezuela does not pay on time the amount borrowed from Citibank.”

Stop the presses!

Read More @ TheWealthWatchman.com

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8 comments to The Banking Dragon’s Latest Scheme to get Its Claws on Fresh Gold!

  • Sandman

    I could care less about what clever bankers do – its just part of the ride. Monetary history will repeat no matter what they do. Gold and silver will shine.

    Iddin’t great 🙂

  • NaySayer

    I’m not sure why I bother to comment. If my posts ask for equal time for other religions than Christianity then they get deleted.

    This isn’t the way to run a respected web site.

    • Ed_B

      We all have our opinions on that but the bottom line is that they who OWN the site get to choose what does and what does not appear on it… property rights and all that. If that offends some of us, then we just need to either get over it or move along.

    • SGT

      um, what revisionist history are you blabbering about now NaySayer? No one has EVER deleted a single post of yours in the SGT Report comments section. Fact.

  • Ed_B

    “The gold remains in the vaults of the Bank of England. But it would be taken as collateral in case the Central Bank of Venezuela does not pay on time the amount borrowed from Citibank.”

    Of course, Citibank WELL knows that a) this money will not be repaid and that they WILL get this gold; and b) even if the money is somehow repaid, the gold will be grabbed anyway. Such is live when dealing with banksters. Their golden rule is: TAKE EVERYTHING, REGARDLESS OF WHO ACTUALLY OWNS IT!”

    Being good Marxists and all, one can only wonder why Venezuela does not make a sweetheart deal with China for this gold. They are Marxists too, so should be more sympathetic to the plight of Venezuela and all the suffering they have done at the hands of those nasty capitalists plus their lackeys and “roaders”. Whatever the hell a “roader” is. lol

  • Johan

    Chavez is rolling in his grave…

  • NaySayer. What are you talking about. Or are you just a troll ? Please explain.

  • knowtoomuch

    @”Rapid” : Thanx AGAIN for your link posted at the latest Corbet interview ! :

    https://endzog.wordpress.com/2013/08/07/financial-collapse-post-western-destruction-china-the-coming-jewish-superpower/

    I sent it to my friend Daryl Smith ; he posted it on his site http://www.iamthewitness.com

    @NaySayer ; I’ve had the same “problem” several times, but after checking I had posted it under ANOTHER article of SGT ; nothing had been “deleted” !

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