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Old 05-17-2012, 07:37 PM   #1
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Stupid question about Venezuela gold

We all know that Chavez had some resistance trying to get Venezuela's gold from the World Banks from which he had purchased it.

Why wouldn't Chavez have bought from the Miners rather than the World Banks, thus avoiding this situation?

Was it a matter of "convenient storage" at the World Banks?

Or do the Miners only sell to a select group of customers?
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Old 05-17-2012, 08:29 PM   #2
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Did Chavez buy the gold or did Venezuela already own it when he came into power? I don't recall hearing that Chavez bought the gold himself (or that Venezuela bought it during his rule).
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Old 05-17-2012, 08:42 PM   #3
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I don't really know the answer to that, I might be wrong with that part of my statement.

The pertinent part was the question about why Venezuela (or any country for that matter) wouldn't want to buy from Miners rather than from World Banks.
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Old 05-17-2012, 09:24 PM   #4
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It was gold Venezuella already owned but was held overseas.

As far as buying from miners, countries usually buy from miners in their own borders such as what China is doing now.
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