From our Bureau of German Banks That Know How To Deal With Extreme Latrine American Dysfunction
Ah, the wonders of Bolivarian 21st century socialism!
Once the richest nation in Latin America, Venzuela is now “en la fuácata“ (totally broke),as Cubans used to say B.C. –before Castro — when it was still possible for them to have financial resources that could be lost.
Unlike Castrogonia, which never pays what it owes but always has had its debt forgiven, Venezuela had assets that could be seized by unpaid creditors.
Notice the past tense in the sentence above; “Venezuela HAD assets.” It no longer has any reserves at all, after this loss.
From The PanAm Post
Venezuela received a cash loan from the German bank and used the gold as collateral. The contract is due in the year 2021. However, the Venezuelan government faltered on the interest payments, and the bank seized the guarantee. The critical unanswered question is how Maduro spent the loan money.
As 20 tons of gold has been seized, there is a difference in the value of 120 million dollars in favor of Venezuela. The legitimate Attorney General of Venezuela, José Ignacio Hernández, confirmed that they were in conversation with the bank to direct these funds to an account which is outside the reach of the regime.
It is important to remember that in 2017, the National Assembly which has an opposition majority sent an official letter to the board of Deutsche Bank to warn them that their transaction with Nicolás Maduro was illegal and ethically reprehensible; two years later the money has been effectively lost and so are the tons of gold.
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