UK government pretends Bank of England is some independent entity


So how come the voters don't elect the bank's governor?

* * *

U.K. Leaves Fate of Venezuela's Gold Up to the Bank of England

By Stuart Biggs and Jess Shankleman
Bloomberg News
Monday, January 28, 2019

The U.K. government said it is up to the Bank of England to decide what to do with the "significant amount" of gold it is holding under contract for the embattled Venezuelan regime of Nicolas Maduro.

"This is a decision for the Bank of England, not for government," Foreign Office Minister Alan Duncan told Parliament today during an urgent question on Venezuela. "It is they who have to make a decision on this, but no doubt they will take into account when they do so, that a large number of countries across the world are now questioning the legitimacy of Nicolas Maduro."

... Dispatch continues below ...


We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at:

The Bank of England holds about $1.2 billion worth of gold for Venezuela, a significant chunk of the $8 billion in foreign reserves held by the nation's central bank. That's put the British regulator at the center of the growing international opposition to Maduro’s government. U.S. officials are trying to steer Venezuela’s assets to National Assembly leader Juan Guaido to bolster his chances of taking power.

Retrieving the gold from the BOE has been a major priority for the Maduro regime for weeks. ...

... For the remainder of the report:

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit: