Chavez - To UK and US: Give back our gold

well lets reflect on what you posted:First you raise Peru when even my 5 year old knows which country Chavez leads. Second you said  "the IMF leant Venezuela money and this was the surety" see in 2007Chavez: Venezuela to pull out of IMF, World BankCARACAS, Venezuela (AP) — President Hugo Chavez announced Monday he would formally pull Venezuela out of the World Bank and the International Monetary Fund, a largely symbolic move because the nation has already paid off its debts to the lending institutions."We will no longer have to go to Washington nor to the IMF nor to the World Bank, not to anyone," said the leftist leader, who has long railed against the Washington-based lending institutions.Chavez said he wanted to formalize Venezuela's exit from the two bodies "tonight and ask them to return what they owe us."Venezuela recently repaid its debts to the World Bank five years ahead of schedule, saving $8 million. It paid off all its debts to the IMF shortly after Chavez first took office in 1999. The IMF closed its offices in Venezuela late last year.Thirdly - you said - "in 1989 in his second term as president" in 1989 - the president of Venezuela in 1989 was Carlos Andres Perez. Seems to me you could be the one pushing 10, if that. If you are capable of reading and comprehending the article you possible might have noted "Chavez is looking to diversify Venezuela's cash reserves from U.S. and European banks to include investments in emerging markets including Brazil, China, India, Russia and South Africa"On reflection - maybe not

not worth re-reading, (advice to everyone), the grammar, spelling and how it was written is very poor - as if it was done by a 10 year old.

To be honest, not sure what the point of it was - there are better articles on this elsewhere. Perhaps you did not really understand it? Not surprising since, as I stated, it was very poorly worded.

And what I was saying initially is that it may not be possible for venezuela to 'take back its gold' as it is collateral for loans and since there is no suggestion that they are going to pay off the loans, it will be interesting to see if it will happen at all.

even better suggestion - read the link before you comment. Nothing to do with debt.  Diversification of investments out of the western monetary system. Smart move in context of the coming dollar crash

They are also stored in Canada/US and other countries which were considered less risky than storing them at home, they are also paid dividends on them.

Have you even researched this at all, there is a little thing called Google, the washington consensus is just an example of how Venezuela came to store its gold abroad and it started in 1989

I would suggest that you don't start topics of which you clearly know little.

thier gold investments are stored in Bank of England and JP Morgan. 1989? another paddington bear moment??

About what Slapper - the IMF leant Venezuela money and this was the surety. not about analysis, about facts, you are using the word in the wrong sense.

In February 1989, at the beginning of his second term as president, he accepted an International Monetary Fund proposal known as the Washington consensus. In return for accepting this proposal, the International Monetary Fund offered Venezuela a loan for 4.5 billion US dollars.

your analysis is incorrect

Meant venezuela. was thinking of paddington bear at the time

Peru?

It is a surety against loans peru has outstanding in the UK - why would they want to give up their guarantee? Do you think once peru takes it's gold back they are going to continue to pay the loans back - you would have to be naive in the extreme to believe they would