Sodium nitroferrocyanide; sodium nitrosyl pentacyanoferrate III Soluble in 2.
One thing is for sure. These are two distinct events. The Bloomberg report is herethe Reuters report is here. Central bank financial statements posted this week on its website show monetary gold totaled The BCV uses a nine month rolling average valuation price methodology.
Without knowing the correct valuation price used at each month-end valuation point, the quantity of gold being valued cannot be calculated accurately. Conversely, doing some simple research looking up the footnotes to the BCV accounts and a few quick spreadsheet calculations gives a very accurate estimate of quantity of gold held at each month-end valuation point.
Perhaps next time the major financial news wires can go the extra mile. The Spanish translations in this article use a combination of Google Translate and Yandex Translate, and some instinctive re-sequencing. The updated name is in retrospect Caso operaciones national cranberry cooperative given that the Venezuelan currency is now one of the weakest fiat currencies in the world as the Venezuelan economy begins to experience out-of-control price inflation.
This brings us to the next part of the BCV gold valuation equation. This official rate is a static 6. Again, this exchange rate is another fantasy when compared to the unofficial market exchange rate for the Venezuelan bolivar in terms of the US dollar.
The final part of the gold valuation equation is the London gold fixing a. I calculate that the 9 month rolling average of the London morning gold price from 1 April to 31 December was USD The Sale of 61 tonnes? The BCV publishes monthly balance sheets including the monetary gold valuation figurebut currently there is a 4 month lag on date publication, so the latest balance sheet is from May the same month-end date that Bloomberg and Reuters referred to above.
The monthly balance sheets for January to May can be downloaded herehereherehere and here: The data below is taken from the 6 monthly balance sheets from Dec to Mayand the LBMA daily price dataset. My calculations show a 2. Adding domestically produced gold to monetary gold holdings in Venezuela has a precedent.
So does conversion of already held non-monetary gold. For example in the BCV purchased 1. The same year the BCV also converted 3. Similarly, in Aprilmy calculations find that the BCV gold reserves saw another outflow of Between March and April, the combined gold reduction amounts to There was no material change in gold holdings between April and May, save a tiny 0.
The main damage to the gold holdings happened in the narrower time period of March and April, a fact that was not highlighted in the Reuters 4 month period reference, and the Bloomberg 1 year period reference.
Also important to know from that article are: Therefore, I think that this 61 tonne reduction over March-April represents something else entirely. It could be another transaction with one or more of the other investment banks above, or it could be an entirely separate gold sale to another entity such as the Chinese government.
Since Banco Central Venezuela is entirely non-cooperative in answering questions about gold posed by the media, some speculation is, in my opinion, acceptable. Another example of arrogant central bankers who consider themselves above normal standards of accountability and transparency.
A few clues about the gold holdings reduction are in the letter Maria Corina Machado sent to Nelson Merentes on 12 March.
In the letter Machado asked these 5 questions of Merentes: Is the BCV in negotiations with foreign banks for the sale or pawning of monetary gold? Is it true that they would be negotiating a second operation similar to the previous one for an even greater amount?
Do these operations involve removing the gold from the vaults of the BCV and returning it abroad? Although not fully legible on the very left hand side of the photo, the text, as far as I can make out, says: Venezuela would hardly be flying out hard currency cash.
Nor would it be flying out worthless bolivar bank notes.
The BCV letter refers to weighing and packing, which can only mean gold bullion. When the last flight of repatriated gold flew into Caracas from Eorope on 30 Januaryit was carrying 14 tonnes of gold in 28 crates.
Based on this metric, 3 flights going out from Caracas in early July could carry 42 tonnes of gold, if not more. Currently, liquid international reserves are likely less than USD0.The execution and participation in Joint Purse Agreements, foundations, joint ventures, cooperative companies and communities of property, when the total value corresponding to foreign investors exceeds EUR 3,, or when, regardless to the amount, the foreign investment comes from a tax haven.
American National Insurance Co. (An 1 Moody Plz GALVESTON American National Insuranc One Moody Plaza ITS - 12th flr. Galveston Cranberry Woods Dr Cranberry Twp 1 ashio-midori.com McKesson Medical-Surgical Medimart 10th Ave N GOLDEN VALLEY.
FOREWORD. Concise International Chemical Assessment Documents (CICADs) are the latest in a family of publications from the International Programme on Chemical Safety (IPCS) — a cooperative programme of the World Health Organization (WHO), the International Labour Organization (ILO), and the United Nations Environment Programme (UNEP).
En caso de aplicación del apartado 1, el importe de las diferencias entre la valoración con arreglo al precio de adquisición o el coste de producción y la valoración efectuada conforme a la base de revalorización, se reflejará en el balance en la reserva de revalorización, en «Capital y reservas».
is and in to a was not you i of it the be he his but for are this that by on at they with which she or from had we will have an what been one if would who has her. View the profiles of professionals named Nestor Mata on LinkedIn. There are 40+ professionals named Nestor Mata, who use LinkedIn to exchange information, ideas, and opportunities.