Venezuela fails to reclaim the gold it pawned to Deutsche Bank
gata.org / By Corina Pons via Reuters / October 22, 2017
CARACAS — Venezuela this month allowed a $1.7 billion gold swap with Germany’s Deutsche Bank to lapse, according to an opposition legislator who said it weakens the balance sheet of the crisis-stricken OPEC nation’s central bank.
Through the operation, Venezuela had received $1.2 billion in cash in exchange for putting up $1.7 billion worth of gold in guarantee, part of efforts to improve the liquidity of foreign reserves amid heavy foreign debt payments and low oil prices.
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Source: http://silveristhenew.com/2017/10/24/venezuela-fails-to-reclaim-the-gold-it-pawned-to-deutsche-bank/
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Whistler Blowers, Insiders
Doubt it matters much, at the end of the day the country in 19 years of fake socialism never repaid its debts which it never needed to take out, nor did it force creditors to take a haircut with a reissue. The government chose not to govern its financial affairs well and had done so since the 1950′s as a proxy US banana republic. Yet the population had every chance to elect someone who would.