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Bank of England to partially unblock Venezuelan gold... but there's a condition
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Published on 18 Aug 2026 / In
Film & Animation
The Bank of England froze Venezuela's gold reserves in 2018 after the UK ceased recognising Nicolas Maduro's government.
The president was abducted by the US this year, and now the bank has agreed to release the gold to pay for earthquake reconstruction. However, Washington has imposed conditions — requiring the funds to be placed in its Treasury accounts and made subject to an international expense audit.
For more on this, we speak to former IMF Executive Director Paulo Nogueira Batista Jr.
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I never understood why on earth a state would put its gold in a foreign bank vault. It is becoming more than obvious that those banks are now committing piracy on foreign funds this way, because its government doesn't like the other one.
Who in history has ever put their savings under the matrass of his neighbor?
When Merkel demanded the German gold reserves back from the FED, lo and behold, they were nowhere to be found. Who can still have any trust in those companies?