Venezuela Begins Liquidating Its Gold
by Tyler Durden
ZeroHedge.com
03/11/2015
In an attempt to secure some stability, i.e., funds, now that Venezuela is no longer able to tap Chinese bailout loans as last-recourse funding, Reuters reported that Venezuela’s central bank is in talks with Wall Street banks to create a gold swap that would allow it to monetize some $1.5 billion of the metal held as international reserves, according to government sources familiar with the operation. Under the swap, the central bank would provide 1.4 million troy ounces in exchange for cash.
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