Chavez orders 11 billion dollars of gold home. Venzuela’s finance minister Jorge Girodani said that “the weakening US dollar and the European sovereign debt crisis threaten Venezuela’s saving and they will be more secure at home and in “allied” countries.”
Yeah, that’s right – the various gold hoards by various countries are not held in those various countries. We talked at length on this show about Germany – %60 of their gold is held in America.
Now Hugo Chavez in Venezuela is saying – “We want our gold, 200 tons of it, to be brought home, held in the bank of England”. And of course the Bank of England is not the only one holding that gold, the custodians also include banks such as JP Morgan.
So, it’s as if Hugo Chavez watch our show, realize that the crashed JP Morgan buy silver campaign could be applied to gold, is demanding physical delivery of his gold, because he knows that if JP Morgan and these other banks don’t actually have the physical gold, they have to go into the market buy that gold, but they’re bankrupt to begin with.
That means they have to incur more debt, which mean that they’re going – he’s trying to collapse JP Morgan just like we’re trying to collapse JP Morgan, so, Hugo Chavez, welcome to the gold liberation army!
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