Venezuela’s Gold: 3 Times State Wealth in Western Banks “Mysteriously” Vanished

Monday, January 28, 2019
By Paul Martin

SputnikNews.com
28.01.2019

Self-proclaimed Venezuelan interim president Juan Guaido has praised the Bank of England’s reported refusal to allow Caracas to repatriate $1.2 billion worth of gold bullion, branding the move a “protection of assets.” Sputnik looks at a few other times Western governments and banks froze, or outright stole, the sovereign wealth of other countries.

Caracas has been waging a losing battle to get its gold back from the UK since late last year, with the Bank of England repeatedly refusing its repatriation requests, according to media reports. Last week, British Foreign Secretary Jeremy Hunt joined Britain’s US allies in backing Juan Guaido, calling him “the right person to take Venezuela forward” and making the return of Venezuela’s gold all the more unlikely. Over the weekend, as if on cue, Guaido praised London’s decision not to return the gold.

All Part of the Job

The practice of freezing or seizing the assets of countries which somehow find themselves on the wrong side of US and European policymakers and financial interests is anything but new. A 1992 review of US extraterritorial asset freeze orders by legal scholar Rachel Gerstenhaber recounted well over a dozen cases of the US freezing or confiscating assets of countries including the likes of Iraq, Panama, Libya, Iran, South Vietnam, Cuba, Nicaragua and a bevy of former Eastern Bloc states. The list doesn’t include similar moves by US allies in Western Europe, which similarly deprived countries of tens of billions of dollars in sovereign assets. For the sake of brevity, Sputnik focuses on three such cases.

The Rest…HERE

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