Getting the gold out: The rats are fleeing Venezuela's sinking ship
You can tell that things are not going well for Venezuela's Maduro socialist dictatorship, based on how they're behaving now. All signs are out now that the rats are fleeing a sinking ship.
Giant contractors, even from Venezuela's allies Russia and China, are pulling out, meaning the money's running out.
Just as interesting are the huge 757 Russian off-radar cargo jet flights into Caracas bearing the name of a newly-founded company, which sounds like a front for the Russian government. They came and went, with unknown purpose, but lots of room for anyone who might want to ... smuggle out the nation's gold.
The reliable Russ Dallen of Caracas Capital, sent out a market note with a suggestion that things are moving. His analysis is succinct:
Events continue to transpire quickly in Venezuela. There is a big march planned for tomorrow and the Opposition has something to rejoice about as the Maduro Regime's latest attempt to liquidate the nation's gold patrimony has collapsed.
First, we tracked the Russian cargo jet bugging out earlier this afternoon (before the Russians turned off their transponder to avoid being tracked). They are now well passed Barbados and we think they are headed towards Cape Verde given their direction and previous routing.
Second, while UAE investment bank Noor Capital announced that they "purchased approximately three tonnes of gold from Venezuela's Central Bank" on January 21 (explaining the earlier jets we tracked), Noor says that the current sale of another $800 million is not happening (por ahora): "Until the situation in Venezuela stabilizes, Noor Capital will refrain from any further transactions."
Overall, good news for Venezuelans, democracy, bondholders and creditors: Cucarachas scatter when you turn on the light.
Yep I do not think it is propaganda that Russia is hauling out the gold reserves of Venezuela. What I imagine is that Maduro may never reap the profits from that gold hauled out by Russia, "what is flown to Russia very well my stay in Russian Gov't hands".