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<p>[QUOTE=&quot;fatima, post: 1248560, member: 22143&quot;]Depending upon the definition of ton used, (I used metric) I get ~$18B.&nbsp; &nbsp; But this doesn&#039;t answer the question of how he would spend this gold.&nbsp; My answer to that is that he can&#039;t and for that matter won&#039;t.&nbsp;&nbsp; It would have been easier for him to sell while the bars remain at the BoE and other depository banks. The gold would not be moved, the BoE would simply do a currency/gold swap, then Chavez could then just move the proceeds to Switzerland.&nbsp;&nbsp; By moving these bars physically to Venezeula, he has guaranteed this gold isn&#039;t going onto the market.&nbsp;&nbsp; </p><p><br /></p><p>IMO this is his point.&nbsp; That is, it&#039;s a move that is made if you think the gold will become more important than the fiat money system and especially the US $.&nbsp;&nbsp; All the countries are doing it, but not this openly and so far (with the exception of China) not to this scale.&nbsp;&nbsp; This is why I say it&#039;s a positive sign for the future of gold pricing and gold only.&nbsp;&nbsp; No sovereign government cares about silver.[/QUOTE]</p><p><br /></p>

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