Is Venezuela Paying Russia $840 Million in Gold?

gold money, gold bars
Written by Mike Hammer
The stories coming out of Venezuela just get weirder.  In November ago it was the Bank of England refusing to release any gold to gov’t officials in Venezuela, saying they couldn’t be sure it would be absconded.  Possibly true enough.  Then last week Venezuelan opposition leader Juan Guaido declared himself President of Venezuela, gaining the support of the US via President Trump, along with others.  Then today news is out that Jose Guerra, a “lawmaker” in Venezuela, claims Russia was going to spirit away 20 tonnes of Venezuela’s gold on a 777 flown to Caracas just for the purpose.


It is apparently true that Venezuela owes Russia “billions” already, so 840 million (USD) in gold could be just a payment on that.  But it sure seems weird; in modern US vernacular, it’d be called fake news as there is no proof or evidence available that this is actually true.  You’d think it would be hard to hide a 777 in the Caracas airport. In the end, the sad truth is that Venezuela is coming apart at the seams and the ones suffering the most are doubtless innocent citizens, who by now have lost all their life savings thanks to the hyperinflation of the past 6 months.


You can read more in today’s featured story, pray that such things don’t happen in your home country, then comment on whether you think this soap opera will end any time soon.


Continue reading at Radio Poland

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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2 Comments

  • It could be, but there are other possibilities…the Cubans, renting the plane to the Russians, and taking the gold to Cuba…..it is said for years than when the coronel, brought all Venezuelas gold to the country, part of it was sent by him to Cuba for safeguard, and the cubans never gave it back, one thing is very clear, Cuba has been living out of Venezuelas wealth for the last 20 years, if Maduro is sent to some other place, maybe Guantanamo, the cuban government will be penniless …..and that will signify the end of the Castros era…the island produces nothing of nothing…just the revolt in Venezuela, and that is why Maduro has not run…they do not let him….another possibility, is the cargo to be sent to maduros house in Russia to be split by some of the biggest thieves in the history of the world, Caligula, Ghengys Khan, Stalin, Goebbels, the ms Kirshner ….Madoff, are little children compare with this Venezuelan thieves…..maduro, cabello, Rodriguez, jaua, etc, ….
    The largest sufferer of the USA sanctions against Venezuela, is not even Maduro, who now has to be thinking how is he going to maintain the military personnel ..even thou their are pay in Bolivares, which does not worries him, he just tells Central bank, to credit the account of xs force y amount of bolivars, and they will just make a computer operation of crediting the account of the force in n bank the bolivares, and that is it…no authorization of anybody, no backing of any kind….is Cuba….this island has nothing of nothing, they do not produce anything a bit of cigars, and the rest is lots of bull, without the money of Venezuela the Castro regime life is very short, plus the one of Ortega in Nicaragua ….this USA sanctions, are going to free the world of three communist leaders in the world in a very short time

  • There is some thing to happen with the fact that many countries are trying to buy gold and to stock it. The price of gold seems to be artificial low.
    Are we going back to the gold Standard ad is there something going on with the tremendus high debt position each country and even individuals possess.
    Reynold Vanden Weghe