
Nicolas Maduro speaks during a televised press conference in Caracas on Jan. 25.
Comment: Let this be a lesson to anybody holding their gold in Western banks that if they do not submit, they will be held to ransom. It's little wonder that many countries have been in the process of repatriating their gold for a few years now. It's also notable that Venezuela requested gold back in November 2018, before the BoE had this manufactured crisis as an excuse, but the BoE refused.
The Bank of England's decision to deny Maduro officials' withdrawal request comes after top U.S. officials, including Secretary of State Michael Pompeo and National Security Adviser John Bolton, lobbied their U.K. counterparts to help cut off the regime from its overseas assets, according to one of the people, who asked not to be identified.
The U.K. followed the U.S. and other countries on Wednesday in recognizing Juan Guaido, the National Assembly leader, as the legitimate president of Venezuela. Maduro, an authoritarian ruler who's overseen the country's collapse into economic chaos, refuses to give up power, though, and has the backing of the military. The European Union threatened to recognize Guaido unless a "credible" presidential election is called with eight days, according to a draft statement seen by Bloomberg.














Comment: Granted Maduro isn't perfect, but that doesn't give the West any right to dictate what's best for Venezuela, particularly because their motivation behind this heinous meddling is obviously to create the conditions so that they can control and siphon off the country's oil wealth, which was recently ranked as one of the highest on the planet.
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