Jim’s Mailbox

Posted at 9:05 AM (CST) by & filed under Jim's Mailbox.

Until someone uses the right words…



Please note the point that is made by Wolfgang as it pertains to gold confiscation arising out of some definition of Sanctions and or Tariff/Currency conflicts. The bullion gold you hold physically in the USA must be USA minted for your peace of mind.



Logical move.  The more the West squeezes, the more it hurts itself.

Better to have gold in your hand than in western banks.

Confiscation based on sanctions could be a consideration.

“If the government wants to carry out operations with the gold that it plans to bring, it would have to be done with allied countries because of the sanctions,” said Tamara Herrera, an economist with Sintesis Financiera.

Venezuela has been exporting gold to Turkey in the last year, a business that has grown as Maduro has built up ties with Turkish President Tayyip Erdogan.

Selling the gold directly from the Bank of England to a foreign buyer would be logistically easier than shipping it, but could also risk running foul of sanctions.

Imagine that…..Turkey is proving more trustworthy than the Bank of England, or the West in general for that matter.

CIGA Wolfgang Rech

Exclusive: Venezuela Seeks To Repatriate $550 Million Of Gold From Britain – Sources
November 5, 2018

CARACAS (Reuters) – Venezuela is seeking to repatriate about $550 million in gold bars from the Bank of England because of fears it could be caught up in international sanctions on the country, two sources with direct knowledge of the effort told Reuters.

Venezuela’s hard currency holdings have dwindled as existing U.S. financial sanctions have effectively blocked President Nicolas Maduro’s government from borrowing on international markets.

The Trump administration on Thursday issued a new round of sanctions banning U.S. citizens from having dealings with anyone involved in “corrupt or deceptive” gold sales from Venezuela, as part of efforts to boost pressure on Maduro.

Maduro’s government is seeking to bring 14 tonnes of gold held in the Bank of England back to Venezuela, according to two public officials with direct knowledge of the operation, who asked not to be identified.



In the world of sudden change politically, this is not impossible at all. This article should read and considered.
The recent problem with Saudi Arabia is a an example of a situation that could start an financial avalanche, which would be the real straw to break the camel’s back.



If Iran, in retaliation against potential oil export sanctions, decides to close the Straits of Hormuz and commandeer oil tankers and bomb mid-east neighbors involved, then you have $400 oil overnight.

Imagine driving to work with gasoline at $20 – $30 per gallon!

What will you do?

“If we achieve a issue that our oil is not exported, the Strait of Hormuz will be mined. Saudi oil tankers will be seized and regional nations will be leveled with Iranian missiles. 

If Iran decides, a one fall of this region’s oil will not be exported and in 90 minutes all Persian Gulf countries will be wrecked. The UAE and Saudi Arabia will be wrecked in 60 minutes. Right after 90 minutes the U.S. will have nothing at all in this country. And we have not even begun with Israel. Beware of the day we go immediately after Israel, as well. That’s why they want us to spherical up our missiles.”


Probable: NO  Possibele YES

CIGA Wolfgang Rech

Iran Releases 3-Minute Video Message Vowing Global Partners Will Help It Beat Sanctions
November 6, 2018

Less than 24 hours after crippling U.S. sanctions went into effect targeting primarily Iran’s energy sector, and hours after SWIFT suspended Iranian banks from accessing the global financial messaging system, succumbing to pressure from the Trump White House, Iran’s Foreign Minister Javad Zarif has published the Islamic Republic’s official statement in response.

In a 3-minute video posted to YouTube and published by official government social media accounts featuring Zarif standing in front of Tehran during what appears to be the early morning hours of Tuesday in Iran, the FM condemned what he called the “absurd, unlawful, and fundamentally flawed” anti-Iran sanctions that went into effect Monday and called out the “hypocritical claims of the Trump administration”. He confirmed that Iran has rejected the White House’s latest demands articulated alongside the sanctions, and declared willingness to do battle against Washington’s economic warfare for the long haul.

FM Zarif said:

    We have weathered difficult times in the face of 40 years of American hostility, relying solely on our own resources. And today we and our partners across the globe will ensure that our people are least effected by this indiscriminate assault in the economic warfare that directly targets the Iranian people.