Chávez moves reserves out of US Treasuries

Discussion in 'Wall St. News' started by Madison, Oct 6, 2005.

  1. Chávez moves reserves out of US Treasuries
    By Andy Webb-Vidal in Caracas
    Last updated: October 6 2005 00:04

    Venezuela has transferred about half of its $30.4bn of foreign reserves out of US Treasuries and US banks into banks in Europe, seemingly for political reasons.

    The decision, which was disclosed in an off-the-cuff comment by President Hugo Chávez last week, has fuelled confusion among bondholders and analysts concerned about Venezuela's opaque public finances.

    Domingo Maza Zavala, a director at the central bank, said on Wednesday that during the past four months 60 per cent of the bank's roughly $24bn in operational reserves, or about $14.4bn, had been liquidated and the funds deposited at the Bank for International Settlements in Basel, Switzerland.

  2. It's not an asset protection move imo.

    It's more like stealing, in front of everybody noses.
  3. It's more like stealing, in front of everybody noses.

    How so?:confused:
  4. Like all other "Dictators" throughout history have done.

    They start moving money around, and then at the end nobody knows where it is.

    Chavez knows he will not be in power for too long and he is also afraid from a US embargo if he screws with oil supply.

    At the end Venezuelans as a whole are the ones that have lost and will keep losing.
  5. The time to liberate the Venuzuela from the Evil Chavez Terrorist has come... by any and all necessary means...

    Chavez has no right to use oil as leverage against us... we must remove Chavez from office and execute him for crimes against humanity...

    Amen... God Bless America and God Bless Bush...
  6. Today the evil dwarf Chevez, tomorrow the even more evil troll Fidel.
  7. TooL


    I agree with you Brother Candle, you are a True Patriot. Chavez, indeed is an Evil Terrorist Dictator who poses an Imminent Treat to the United States. He gives safe harbor to Terrorists, has a program to develop Weapons of Mass Destruction, and has repeatedly threatened the United States by withholding oil. We must remove him now and deal with this Imminent Treat now and end his Crimes Against Humanity now. The time to defend the nation is now, we cannot wait for a mushroom cloud to develop over NYC. We cannot hesitate to defend ourselves because the Evil Doing Terrorists will not hesitant to attack us. I pray for the safety of our nation, God Bless America.
  8. Pabst


    Tool. An apt moniker.
  9. plugger


    Hear, hear. Great speech Tool. You and Larry Kudlow, the orignal and greatest chickenhawk, lead the charge.

    First Iraq, then Iran, Syria and finally Venezuala and Cuba. Iraq has gone so well. Surprised you haven't signed up yet.
  10. mothman


    I assume TOOL was being sarcastic - if not then Gold help us!

    There is a very funny video making the rounds on the internet where Americans are asked in the street who they would bomb next if they were in charge.

    Countries ranged from the usual suspects to include France and Italy.

    Then they were asked to identify on a map the country they had nominated - couldnt do it until the map was marked with said country - each time Australia was marked as the offending country and none were any the wiser and all for bombing Australia (Tasmania was marked South Korea BTW)

    I am sure it was a spoof but they sure didnt look like actors.
    #10     Oct 11, 2005