Wednesday, March 11, 2015

Venezuela Begins Liquidating Its Gold

Hugo Chavez is rolling in his grave.  After being one of the first to repatriate his country's sovereign gold, Venezuela is now willing to part with the gold at fire-sale prices.  The price suppression by the bullion banks is working, as it is inducing bankrupt countries to keep their lights on a little while longer--even if it means selling the one asset that has intrinsic value.

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