0 $
2,500 $
5,000 $
45 $
AUGUST 2020

UK High Court Denied Venezuela’s Control Of $1bn Gold In London Bank

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UK High Court Denied Venezuela's Control Of $1bn Gold In London Bank

IMAGE: Leonhard Foeger / Reuters

On July 2, the UK High Court ruled against Venezuela’s government in a legal battle over access to $1bn (£820m) of gold stored in the Bank of England. It claimed that it will be ‘unlawful’ to give it to the government of Nicolas Maduro since the UK does not recognize him as president of the Latin American nation.

The US, the UK as well as several other US ‘allies’ recognize the foreign-controlled leader of the opposition Juan Guaido as the leader of the country. Despite this, the rule self-proclamed ‘Venezuelan President’ Guaido in Venezuela does not extend beyond his twitter account.

Venezuela’s Central Bank, controlled by Maduro, sought to use the gold to soften the economic crisis caused by the high-sky US sanction pressure on the country. However, the British government just seized the Venezuelan gold in an apparent act of modern financial piracy. Indeed, this is a common approach for Western states. In June 2020, it was also revealed that the Trump administration used $601m seized from Venezuela-linked bank accounts in the US to fund the border wall with Mexico.

Even much earlier, during the Russian Civil War (1917-1923), then the British Empire used the trumoil in order to seize the part of gold reserves of the Russian Empire, which was stored in British banks. So, despite the supposed collapse of the colonial system, the so-called ‘Democratic World’ continues employing various neo-colonial approaches, including blatant looting, to suck resoures from other countries.

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  • Swift Laggard II

    but why keep your resources in these pirate havens? serves you right

  • <>

    Good, give nothing to Maduro and his Venezuelians bastards, he can keep begging for more oil from Iran.

    • John Wallace

      That is the sort of reply one would expect of someone used to stealing other’s property.

      • FlorianGeyer

        The UK governments past and present are experts in thieving all around the globe.

      • verner

        thievery is in his dna, can’t help himself. other examples of jewish thievery is the way the illegal occupiers of palestine have enlarged the occupied part of palestine to the detriment of the palestinians, yet another is the theft of palestine’s gas and which the jews now are in the process of selling, no benefits to the palestinians. jews are of no value and wouldn’t be missed if they were to be disappeared.

    • jm74

      Certified idiot, and that is being vaguely nice.

    • Doom Sternz

      White mans burden……………….right?

  • Fog of War

    Any country that store its wealth in another nation is run by idiots.

  • Ronald

    This will certainly work against London in the long run.

  • Doom Sternz

    This is theft and a war crime…………..Here is the background to the criminal activities of the US regime………David and Charles Koch needed the XL Keystone Pipeline. The XL Keystone pipeline takes Canadian tar-sands oil to Texas Gulf Coast refineries. The refineries of the Texas Gulf Coast are optimized for heavy crude. It would cost billions of dollars to rebuild the giant Flint Hills Corpus Christi Refinery, owned by Koch Industries, to use the less-polluting Texas oil drilled nearby.

    The Koch’s built the giant Flint Hills Corpus Christi Refinery to process heavy crude from Venezuela. At the time the plant was built Koch Industries were pillaging Venezuelan heavy crude for a fraction of its true value. When Hugo Chavez became President of Venezuela he insisted Koch Industries pay full price for the heavy crude.

    Yuan Guido promised to return control of the oil to US companies (ie Koch Industries, Flint Hills Corpus Christi Refineries, there are no other refineries that can process this heavy crude). Hence Trump tells us that Yuan Guido is the democratic leader of Venezuela. Trump himself obtained 3 million less votes, Pompeo (no votes) and Bolton (no votes). Guido has never stood for election anywhere. Maduro however was re-elected with a huge majority.

    Massive corruption due to big corporate control of government, continual abuse of power and mass murder can only be described as fascism. White Supremacy and Fascism is the Key to understanding America’s Venezuela aggression (supreme international crime). Venezuela is a story of four centuries of white rule and It all came to an end with the 1998 election of Hugo Chavez who won with the overwhelming support of the Mestizo (indigenous) majority.

    This rejection of white supremacy continues under Maduro, Chavez’ chosen successor. Social investment in Venezuela during the Chavez administration reduced poverty from nearly 50% in 1999 to about 27% in 2011, increased school enrollment and brought real democracy to Venezuela. Venezuela was the wealthiest nation, by far, in South America. Hugo Chavez became President on 2 February 1999. Venezuela reached its all-time-high economic-growth rate in 2004 after 5 years of Socialism.

    The economy rapidly declined as soon as the U.S. started its coup-attempts and imposed sanctions. It was the US that murdered Chavez. It is estimated that the sanctions have been the catalyst for up to 40,000 deaths in Venezuela.

    Lets be quite clear about this: this is theft by a White Supremacist Government.

  • Dawn

    That somewhat reminds me of year 1938 – when Bank of England gave Czechoslovakian gold reserves deposited there to Hitler.. Apparent theft and breaking of every law in both cases – just to push England’s interests…

  • Jew from Russia

    To those with not fully-operating brain: gold is often used as a collateral for loans. If you keep YOUR gold in the bank you can use it as a collateral to borrow money.