Re <<The idea that the Chinese may learn Fed secrets>>
we must not panic about what the Chinese might learn
we must focus on what the world is learning, that which shall make gold go up and paper gold worth-less to worthless
see below what the MSM does not cover in any hurry.
Pity we only get a headsup from RT first on the front page, whilst MSM puts such goodies on the back pages.
Perhaps we can discern the reason why RT is hiccupped, kneecapped or otherwise very sloooooooow as web on fibre optics go
rt.com
UK rules on Venezuela’s gold
The UK High Court rebuffed a demand by the Venezuelan government to be granted access to some $1 billion worth of the country’s gold reserves that are currently stored at the Bank of England, Reuters reported on Friday.
According to the report, Britain’s top court rejected a recent decision by the Venezuelan Supreme Court, which had backed President Nicolas Maduro’s request to have the gold repatriated from the UK. However, London recognizes opposition figure Juan Guaido as the legitimate Venezuelan president.
“I have... concluded that the Guaido Board succeeds: that the STJ {Venezuelan Supreme Court} judgments are not capable of being recognized,” the judge was cited as saying, effectively giving Guaido free reign over the assets.
Both Maduro and Guaido appointed boards to the Central Bank of Venezuela (BCV), but issued conflicting instructions for the gold reserves. Lawyers representing Maduro’s BCV board said he planned to sell some of the gold to finance Venezuela's campaign against the Covid-19 pandemic and support the country’s healthcare system. However, according to Guaido, Maduro seeks the gold in order to pay off his administration’s foreign debts.
READ MORE: US weighs seizing Venezuelan oil – reports
The UK recognized Guaido as the rightful Venezuelan president in early 2019, along with some 50 other countries. Upon his recognition, Guaido asked the Bank of England not to grant Maduro's government access to the country’s gold it holds. Maduro’s BCV board then sued the Bank of England in an effort to reclaim the funds.
Experts say the UK court’s decision is unprecedented, because it amounts to a country’s constitution being interpreted by a court of a different country.
Some 31 tons of Venezuelan gold worth roughly $1.5 billion are currently held at the Bank of England.
For more stories on economy & finance visit RT's business section
You can share this story on social media: |
