Store Your Gold At The Bank Of England And You Might Never See It Again


01-02-19 09:14:00,

Submitted by Ronan Manly,

In early November 2018, it first came to light that the Bank of England in London was delaying and blocking the withdrawal of 14 tonnes of gold owned by the Venezuelan central bank, Banco Central de Venezuela (BCV). At the time, Reuters and The Times of London both reported that according to unnamed British ‘public officials’, the delays were being caused by the difficulty and cost of obtaining insurance for the gold shipment back to Venezuela, and also due to “standard measures to prevent money-laundering“.

As I explained in a BullionStar article on 15 November titled ‘Bank of England refuses to return 14 tonnes of gold to Venezuela’, the explanations given to Reuters and the Times for the withdrawal delays were completely bogus, and that the real reason for blocking the BCV gold withdrawal was undoubtedly US and UK joint government interventions to stall the withdrawal. As I wrote at the time:

“The reasons put forward by official sources in the Reuters and Times articles for why Venezuela can’t withdraw its gold from the Bank of England are clearly bogus. The more logical and likely explanation is that the US, through the White House, US Treasury and State Department have been liaising with the British Foreign office and HM Treasury to put pressure on the Bank of England to delay and push back on Venezuela’s gold withdrawal request.”

As it turns out, this was an entirely correct prediction, since by 25 January, Bloomberg confirmed in an ‘exclusive report’ (two and a half months later) that:

“The Bank of England’s decision to deny Maduro officials’ withdrawal request comes after top U.S. officials, including Secretary of StateMichael Pompeo and National Security Adviser John Bolton, lobbied their U.K. counterparts to help cut off the regime from its overseas assets, according to one of the people, who asked not to be identified.”

Why Bloomberg took so long to state the obvious is not clear, but from the outset, the entire interventionalist playbook of the Americans and British in this saga has been entirely predictable to anyone observing the situation. This intervention by the Bank of England on behalf of the US and UK shows a complete disregard for sovereign gold property rights,

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What the Future has in Store for Cryptocurrencies? | New Eastern Outlook

What the Future has in Store for Cryptocurrencies? | New Eastern Outlook

14-06-18 12:06:00,


The second half of the 20th century was marked by the world economy suffering irreversible and potentially catastrophic changes. Once the US obtained virtually uncontested economic and military influence in the world, the Federal Reserve found itself in a position where it was able to print piles of dollars on demand without worrying about the overall sustainability of global finances. This resulted in decades of warmongering, media manipulation and a cult of consumption that turned to be highly profitable for the US, which would exchange goods from all across the globe for useless pieces of green paper. Essentially, the con of the century has come to bear. The situation resembles a TV show where banks, corporations, rating agencies and governments have become a part of a huge conspiracy aimed at persuading the rest of the world that Washington’s securities are the safest assets in the world, even safer than gold.

It was only logical that some alternative system would eventually contest the dominance of the American dolla, and crypto currencies have emerged  as the tool states were waiting for begin the process of de-dollarization. At the same time this article is not going to try to downplay in any way the fact that Bitcoin has been created and utilized by American and British intelligence agencies to move liquidity quickly without tying it to finance their operations overseas. One can note that the creator of Bitcoin, Satoshi Nakamoto, turned out to be “a group of American cryptographers.”

It’s been noted that a limited number of countries have emerged as cryptocurrency havens and have played a pivotal role in the development of cryptocurrencies. The top three around the world by the rate of adoption of cryptocurrencies are South Korea, Russia and Venezuela. And across all three, cryptocurrency is widely seen as a different means to a different end.

In South Korea, cryptocurrencies have been widely perceived as an alternative investment path that can potentially deliver enormous returns in a highly competitive environment.

In Venezuela the rapid development of cryptocurrencies was triggered by an economic collapse spurred by Western sanctions against this oil-producing country. Some would argue that cryptocurrencies in Venezuela are seen as a more convenient and reliable store of value than the destitute bolívar,

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