Published at: 20/08/2025 09:00 PM

(VEA Journal, August 17, 2011 and El Nacional, February 21, 1989)

• To close his presidential address on the Bill to regulate Gold Production, before the National Assembly (AN), on August 17, 2011, Immortal Commander Hugo Chávez Frías announced the repatriation of 211.35 tons of our gold reserves, which were gradually handed over to the Bank of England by Carlos Andrés Pérez (CAP) in his infamous neoliberal shock policy applied against the Venezuelan people.
• Likewise, in the same act, Chávez decreed the nationalization of the exploitation of our underground reserves with the purpose of increasing our international reserves, supporting the strength of our monetary sign and combating the smuggling and environmental depredation of the Guiana mining arc.
• During the activity, Commander Chávez exhibited several gold ingots owned by the Venezuelan people and stored in the vaults of the Central Bank of Venezuela (BCV), stating that the measure would serve to increase production, strengthen our economy and protect it from the vagaries of the cyclical crises of capitalism.
• By the date this historic presidential resolution was ordered, 154 tons of gold were deposited in the BCV. As a result, the volume of our reserves was increased to 256 tons.
• 19 years had passed since CAP, a faithful servant and obedient agent of the White House, ordered that fateful February 1989 the surrender of our economic sovereignty to the designs of the International Monetary Fund (IMF).
• Just six days after “El Caracazo”, the 211 tons that were on their way to the United Kingdom were stolen. In the midst of the protests to prevent this governmental looting of our reserves, there were several riots in Caracas, in this context, university student Carlos Yépez, who worked as a janitor in the laboratory of the Institute of Medicine and was a member of the University's national athletics team, was shot down by the Metropolitan Police (PM). Central Venezuela (UCV).

Mazo News Team