Venezuela Defies Sanctions to Sell $40 Million in Gold Reserves

in dlike •  9 months ago  (edited)

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(Bloomberg) -- Venezuela sold about $40 million worth of gold last week, defying numerous U.S. sanctions that threaten to cut off Nicolas Maduro’s autocratic regime, according to people with knowledge of the matter.The central bank sold nearly one ton of gold July 12, lowering Venezuela’s dollar reserves

I't look's like the powers that be are watching the only thing that he has left disappear.
This does show that it pays to have some gold so other folks will still do deals with you even when U.S is shutting them out of swift!

It still amazes me that countries seek to acquire as much gold as they can, sorry Canada. How much gold does the U.S. have?

I really feel sorry for the people of Venezuela and can't stand to hear about hyperinflation!
Some day I would like to hear there story's and know if having gold as an individual helped to survive.

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Thanks for writing about this, I would have never known! Hopefully it was done for an important reason! 🤞

The money will go to help Nicolas Maduro’s regime pay his military, so I guess it depends on who you want to run the country!