Gold Like Shifting Sand In Venezuela

godcoin (58)in #cryptocurrency • 6 years ago

The past week has been awash with headlines offering all sorts of updates and speculations surrounding the controversial movement of Venezuelan gold reserves. There, President Nicolas Maduro is reportedly exporting several tons of gold bars, at least 3 and at most 20 out of the embattled nation so far.

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As Maduro’s grip on authority is meeting growing opposition from his own people and foreign powers alike, he seems to be maneuvering to sequester financial influence out of the reach of his opponents. It has been stated by RT that he has arranged to liquidate, or launder depending who you ask, 29 tons of gold to the United Arab Emirates in exchange for Euros. This of course puts the actual worth of the trade onto less stable ground, as the Euro is threatened by its own internal issues such as the possible aftermath of Brexit. The risk is worth it for Venezuela, however, as Maduro aims to use their new Euros for international trading in an attempt to mitigate the growing sanctions America has placed upon them.

This could ruin or save Maduro, depending how well it works out. America is pressuring all other nations against dealing with Maduro’s Venezuela, while political rivals and his own citizens seek to replace him due to extreme poverty, mismanagement of national currency, and military brutality. The Bank of England has even gone as far as refusing to return 2.1 billion USD-worth of gold, sending signals worldwide that it is no longer a safe service for countries with opposition in America.

If Maduro’s scheme works to put money back into the impoverished Venezuelans, the people’s rage may cool slightly. However, this won’t solve international relations. America remains extremely determined to influence Venezela’s oil reserves, which are estimated to be the largest of any country worldwide. Between gold and oil, America has destabilized and trampled countries for them before, as both are observed as key motives behind American-influenced conflicts from Libya to Syria, Iraq, and beyond.

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With so much focus on gold and who owns it, we can easily guess that the market for the gleaming metal will see even more price growth than was already expected. That means that GODcoin will also become more and more valuable. Now that our Pre-ICO event is done, we’re working on some exciting new prospects for the final currency of your future.

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This article was authored by Eric Logan, @rasgriz311

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