While everyone is focused on oil: Venezuela currently holds 161 metric TONS of gold reserves.

 https://x.com/KobeissiLetter/status/2007624542512927048

The Kobeissi Letter

@KobeissiLetter

While everyone is focused on oil: Venezuela currently holds 161 metric TONS of gold reserves. 161 metric tons is roughly 5.18 million troy ounces, worth ~$22 BILLION at $4,300/oz. This makes Venezuela the Latin American country with the largest gold holdings. Every $100 that gold rises, these holdings gain +$518 million of value. Controlling Venezuela is set to produce hundreds of billions of revenue for the US. Will the US take control of these gold reserves?

12:26 PM · Jan 4, 2026

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https://x.com/KobeissiLetter/status/2007624542512927048