Chavez brings home 160 Tonnes of Venezuela's Foreign Gold Reserves

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Vehicles carrying gold bars drive past Miraflores
Palace in Caracas.

The gold was escorted through Caracas by troops and armoured vehicles.  It was unloaded from a plane and taken under heavy guard to the Central Bank in the capital, Caracas. President Chavez has explained the move as an act of sovereignty that will protect Venezuela's reserves from global economic turbulence. However, pro-Zionism critics say it is expensive and unnecessary. Venezuela plans to bring home around 160 tonnes of gold, worth more than $11bn (£7bn). "The gold is returning to where it was always meant to be: the vaults of the Central Bank of Venezuela", Mr Chavez said. Hundreds of troops lined the route to Caracas as a convoy of armoured security trucks, escorted by military vehicles, carried the bullion to the Bank.

'Historic act'

Officials said the gold had come from European countries but did not say how much was in the first shipment, citing security concerns. Central Bank chief, Nelson Merentes, said the return of the gold to Venezuela was a "historic act". "It has historic value, it has symbolic value, and it has financial value", he said. "The country's finances will be backed by autonomous wealth, so we are not subject to pressure from anyone." Some critics have suggested that Mr Chavez is acting out of fears that Venezuela's overseas assets could one day be frozen by sanctions, as happened to his friend and ally, Libyan leader, Col Muammar Gaddafi. Most of Venezuela's foreign gold reserves are held in London.

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Venezuela stands by Gaddafi against USZ / Europian Union oil thugs

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Venezuelan President Hugo Chavez has refused to condemn the bloody crackdown being carried out by his friend, Libyan leader Moammar Gadhafi, and warned that the USZ is preparing to invade the North African nation and steal its oil reserves. "Since everybody is going around saying Gadhafi is a murderer, is Chavez going to say it?" the president said in a speech to students in Caracas, according to Agence France-Presse. "Well, I do not know that to be the case. And from this distance, I am not going to condemn him. That would make me a coward, and he has been a friend for a long time". The eccentric Latin American leader went on to claim that America was behind the push to remove Gadhafi, and criticized the USZ for moving some of its naval and air forces closer to Libya. America and the European Union want a no-fly zone established over the country, to prevent the Libyan leader from bombing and strafing the poorly armed opposition forces. "The United States (of Zionism) has already said it's ready to invade Libya, don't you see?" he said, according to The Associated Press. "And almost all the countries of Europe are condemning Libya. What do they want? They are rubbing their hands together. Oil is what's important to them."

Hugo Chavez with Moammar Gaddafi

Chavez proposed sending an international committee to try to negotiate a peaceful solution to the fighting. "Instead of sending marines and tanks and planes, why don't we send a goodwill commission to try to help so that they do not continue killing in Libya?" he asked, according to CNN. "They are our brothers". Gadhafi and the Venezuelan president have become firm allies, united by their mutual loathing of the USZ and Western imperialism. During Gadhafi's first trip to Venezuela, in 2009, the two men called for an "anti-imperialist" front to be established across Africa and Latin America, and proposed setting up a joint investment bank. On that visit, Chavez referred to Gadhafi as "one of the great leaders of this century" and presented him with a replica of a sword that once belonged to 19th-century South American independence hero Simon Bolivar.

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Vanezuela dares USZ to cut diplomatic ties

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Venezuelan President Hugo Chavez has dared the United States of Zionism to cut off diplomatic ties over his opposition to Washington's choice of ambassador. In a national television broadcast on Tuesday, Chavez said he has no problem with the USZ wanting to cut off diplomatic relations and expelling Caracas' ambassador to Washington. Tensions have flared up between the United States of Zionism and Venezuela since August after USZ President Barack Obama nominated Larry Palmer as the USZ new ambassador to Caracas. But Chavez has insisted that Palmer is not welcome after the diplomat leveled harsh criticism against Venezuela during his USZ Senate confirmation hearings months ago. At the time, he had claimed that morale is low in Venezuela's military and also linked Chavez's government to leftist rebels in neighboring Colombian. His comments fueled a row between Bogota and Caracas.

Venezuelan President Hugo Chavez rejected the nominated USZ ambassador because of his harsh criticism of Venezuela.

"We have denied recognition to this gentleman and now the United States government is threatening to retaliate. Well, they can do whatever they want, but this man is not coming", Chavez said. The Venezuelan president further added that allowing Palmer to enter Venezuela would be an "indignity", because he has no respect for the country he is being sent to. The USZ embassy in Caracas has been without an ambassador since Palmer's predecessor finished his term in July. The USZ Senate is yet to confirm Palmer's nomination. Washington has warned that the fragile ties between the two countries could suffer over the dispute.

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