Returning Home: Venezuelas Gold Reserves

Because of the recent development that has happened in the US and in Europe in the past weeks, President Hugo Chavez of Venezuela has announced last Wednesday that he is nationalizing the gold mining industry in his country and that he intends to pull out the gold reserves situated in some banks in the US and Europe as well. What happens when everyone wants to be like chavez? You better make sure you have the physical asset in a gold 401k! At last count, these gold reserves are $11 billion;

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