Venezuela to Repatriate Up to $11 Billion Gold Reserves from U.S., Europe

[Nonda]

Venezuelan President Hugo Chavez, Libya and Qaddafi's close ally and brother announced on Wednesday he is nationalising Venezuela's gold mining industry and intends to bring home $11 billion in gold reserves currently held in US and European banks setting an example for African states to follow suit.

"This is a healthy decision. We're going to start to bring back our gold to the Central Bank," Chavez said in a telephone call broadcast live on state television.

It wasn't clear how soon the overseas gold reserves are to be brought to Venezuela.

The United States and Europe have recently stolen more than $150 billion from Libya's reserves, a strong ally of democracy and the Latin American people and particularly close to Venezuela.

The Central Bank of Venezuela said recently that the country has about $17.9 billion in gold out of a total of more than $28.6 billion in international reserves. Chavez said $11 billion worth of the gold is held in other countries.

Central Bank President Nelson Merentes said on television that the decision to move the gold reserves was being taken out of "prudence".

"At the time of these disturbances, it's preferable to recover our assets, in this case the gold, and have it here in the vaults," Merentes said.
Venezuela has nearly $4.6 billion of its gold reserves in the Bank of England, according to a report by Finance Minister Jorge Giordani that was leaked to the media yesterday by an opposition lawmaker.

Zaidi pitia hapa Venezuela to Repatriate Up to $11 Billion Gold Reserves from U.S., Europe

Hapa Chavez to Nationalize Gold Industry, Withdraw Gold Reserves from US | Fox News Latino

Hapa http://www.marketoracle.co.uk/Article29980.html

Hapa Chavez: Venezuela recalling $11B in gold reserves - TribToday.com - News, Sports, Jobs, Community Information - Tribune Chronicle - Warren, OH

 

[Nonda]

Attack on World Bank

Some of the revolutionary leaders who are here as my guests were obliged to create parties, and you may ask why have Mandela or Mugabe, or any of these other leaders, created a party? They were forced to and told: Either you do that or you will not get any loans from the World Bank. They did it because they felt obliged to and not because they believed in it...

Let us talk about the World Bank, the IMF and the World Trade Organization. These must be ours or we will reject them. If it is a world bank it must then belong to all of us and it should not impose anything on us. But what it does is that it imposes its will on the people. Libya makes a huge contributions to the World Bank and the IMF. Therefore it is our bank. Why should anyone in America, or any other place, or on behalf of Zionism and imperialism, impose their terms on the peoples since the bank is not their bank but is the bank of each one of us?

That is enough. Let us create the Mathaba's bank, the International Bank of the World Mathaba. Let us create a bank. We can create a bank and we will grant loans to one another [applause]. Let all our states withdraw their contributions from the World Bank and put them in this bank. Since the World Bank has become a nightmare and a sword hanging over our heads; and since it imposes humiliating and destructive terms on us; and since it controls the price of our children's bread and controls our food and drink, and also the price of fuel, clothes, food, drink and water, we do not want it, and let America and Zionism stay in it. They are welcome to stay in their bank.

We should withdraw our contributions and create a bank for the Third World and for the forces part of this Mathaba [applause]. We have the support of all the organizations. As I have said the masses of Seattle are with us and are against all these nightmares. All the jobless in Europe, in their millions, are also with us...

THE WORLD MATHABA

 

[MKUNGA]

Bora, wasije wakazichakachua kama za Libya.