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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsVenezuela Has 20 Tons of Gold Ready to Ship. Destination Unknown
Venezuelan lawmaker Jose Guerra dropped a bombshell on Twitter Tuesday: The Russian Boeing 777 that had landed in Caracas the day before was there to spirit away 20 tons of gold from the vaults of the countrys central bank.
The claim set off a welter of social media speculation and outrage. When asked how he knew this, Guerra provided no evidence.
Just another outlandish comment from a lawmaker trying to draw attention to the plight of crisis-torn Venezuela? Perhaps not. For one thing, Guerra is a former central bank economist who remains in touch with old colleagues there. For another, a person with direct knowledge of the matter told Bloomberg News Tuesday that 20 tons of gold have been set aside in the central bank for loading. Worth some $840 million, the gold represents about 20 percent of its holdings of the metal in Venezuela, the person said. He provided no further information on plans for those bars.
With strongman President Nicolas Maduro losing control of the countrys already-scant finances and reserves thanks to U.S. sanctions, who can put his hands on the nations estimated 200 tons of gold at home and abroad has become a key question. The nation owes billions to its patrons Russia and China as well as bondholders, and also needs hard currency to buy food for its starving people.
https://www.msn.com/en-us/money/markets/venezuela-has-20-tons-of-gold-ready-to-ship-destination-unknown/ar-BBSVH0c?li=BBnb7Kz
Can a 777 or any other plane carry 20 tons of gold?
leftieNanner
(15,207 posts)a 777's maximum payload is 224,900 pounds, or 112 tons.
I also saw a report within the last week that Maduro tried to withdraw massive amounts of gold from a UK bank and was refused.
Looks like Maduro wants to skip town with the loot to me.
TeamPooka
(24,304 posts)Thomas Hurt
(13,903 posts)JustABozoOnThisBus
(23,384 posts)I believe that Putin will charge a "carrying fee", and it won't be cheap.
Then there's the cost of laundering the gold value, turning it into spendable untraceable cash. Perhaps a Cypriot Bank could be of some assistance.
Recursion
(56,582 posts)100 tons of gold is not that big; 1 ton of gold is a cube about a foot on each side.