Owning gold is life insurance and wealth preservation. Anyone who has lived through hyperinflationary periods in the Weimar Republic, Zimbabwe, Argentina or Venezuela understands the importance of gold. But it is not enough just to own gold or silver. It is also extremely important how you hold it and where you hold it. We have just seen another example how governments unilaterally “confiscate” gold. VENEZUELA CAN’T GET THEIR GOLD BACK The Venezuelan government gold held at the Bank of England (BoE) is just the latest example of the importance of choosing the right jurisdiction and the right vaults. Venezuela is holding 14 tonnes of gold with the BoE in London, worth $545 million. This is a relatively small amount when it comes to sovereign gold. Still, Venezuela has for some time asked to get it back but the BoE has come up with all kinds of excuses like it is hard to get insurance for such a big amount and this has allegedly delayed the release of the gold by severa...
from GoldBroker.com https://www.goldbroker.com/news/gold-confiscation-and-manipulation-1439
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