'We just reported that Hugo Chavez has nationalized the entire Venezuelan gold industry this afternoon. Well, Hugo didn't stop there, as latest headlines flashing indicate that Chavez has requested that the Bank of England return 99 Tons of Venezuelan gold held on deposit, and a total of 211 Tons of gold held abroad (WSJ).
For those with any knowledge of the cartel, you know where this is heading.'
NOTE: Bank of England and others don't have enough gold reserves to return depositors holdings.
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