DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL Message Board

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Gold/Mining/Energy : DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL

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To: PaperPerson who wrote (4270)	8/24/2011 3:10:21 AM
From: PaperPerson	Read Replies (2) of 4690

Getting physical in Venezuela. Chavez announcement that Venezuela would repatriate tons of gold from foreign bank vaults is going to end up being a pivotal point in monetary history. Right now the news is being overshadowed by other global events like the pending Japan debt downgrade by Moody's. But chavez' deathbed decision is a powerful trend that could cause a real spike in gold this fall. What if another nation follows suit????? Is the gold all there? If not we coukd be setting up for the mother if all short squeezes this fall. $$$$$$$$$$$$$$$$$$ (Extract from GoldSeek article of Aug. 21 re Venezuela demand. news.goldseek.com 1313906580.php The earthshaking news for gold this past week was that Venezuela announced they would like to repatriate their gold from Europe and the US. Venezuela holds $11 billion is physical gold and is wanting to have it held in countries with more solid economics such as Brazil, Russia or China. A few things strike me here. They must know or have a feeling the gold is not there. Whether it’s there or not I don’t know but I have a feeling it’s encumbered in some way shape or form and has likely been leased out at the minimum or has physically been removed at the far end. I think that Venezuela will be pressured hard politically to give this repatriation idea up or they may simply be settled in cash, not gold. This is a dangerous game Hugo Chavez is playing and one which could literally blow the doors off of the gold price. If it were to surface that central bank gold is not actually there, there would be a run on gold the likes of which I can’t even imagine. Hugo is the first domino to fall and demand his gold back and this could spark a major shift from central banks in wanting to actually hold their own gold rather than have it stored in apparent good faith by others. We’ll see how this plays out but I have a feeling that one way or another the world is going to wake up to the realization that GATA’s premise has been true all along. The gold simply isn’t there! Metals review Gold rose 6.07% for the week in solid trading while world markets crumbled on fear. I was talking with subscribers the other day about how small a market gold is really and how underinvested people are in it. While it may look like it’s going a bit parabolic here, this can last a very long time. Gold will be the mother of all bull markets and we’ve got much further to go on the upside, This bubble will put the tech bubble to shame as this one is based on fear, not greed and we will truly see panics into gold by the end of this.

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