Venezuela “Bringing Home” Gold Reserves, Plans to Nationalize All Gold Mining
Juan Reardon
18th August, 2011
San Francisco, August 18th 2011 (Venezuelanalysis.com) – On Wednesday Venezuelan President Hugo Chavez confirmed reports that his government is “bringing home” 211 tons of gold currently stored in international banks and that plans are underway to nationalize the entire gold mining industry in the Caribbean nation. In a move aimed at protecting the Venezuelan economy from the global economic crisis, the president also said his government plans to transfer the country’s international cash reserves out of the U.S. and Europe and into Brazilian, Chinese, and Russian banks.
In These New Times 