For context: Venezuela was actively brokering deals to sell oil to BRICS nations. BRICS' mandate is to weaken the stranglehold the USD has on global trade and they are backing their efforts with lots and lots of gold.
The damage these deals would have done to a dollar already weakened by the administration's trade policies would have been material. The long term knock-on effects would have been disastrous. I don't have the energy to go into the history or importance of the petrodollar but IYKYK.
The US invades Venezuela. No more deals. Problem solved.
What's not being talked about, at least in this context, is Venezuela's absolutely massive untapped supply of gold. If realized the value could be in the trillions of dollars. Fuck the oil. It's oversupplied. This is a goldrush.
BRICS nations as of December were estimated to control 50% of global gold production. Not surprising as there's a rumored gold backed digital currency in the wings ("The Unit").
Surprise! The US is now sitting on the largest unmined supply of gold on the planet. More than enough to manipulate gold markets, undermine the "de-dollarization" BRICS has been pushing and defend the USD/petrodollar.
Unfortunately, almost all that gold is still in the ground.
Who's going to get it out?
How about Newmont Mining (NEM). They're the largest gold miner in the world with a real presence in South America. Incidentally, their former head of strategy, David Copley, was appointed by Trump to lead his "National Energy Dominance Council" and just promoted into the Trumps inner circle as a member of the National Security Counsel. Read that again.
This is a long play. LEAPS are your friend. Shares are better. There's obvious upside in a Greenland acquisition.
Yes, I know some of you have been on this for a while.
Position: 2200 shares NEM
Make sure you take your probiotics. Gut health is important my dudes.