Venezuela has manged to repatriate its first shipment of gold from its London vaults. According to reports in ZeroHedge

Venezuela will receive the first shipment of gold reserves being repatriated from U.S., Canadian and European banks today. Chavez, a former paratrooper and self-professed socialist, in August ordered the central bank to repatriate $11 billion of gold as a safeguard against volatility in financial markets.” Will Chavez demonstrate phenomenal foresight having collected his gold just months ahead of Europe falling into the abyss of a toxic debt spiral or were his worries unfounded? It remains to be seen. However, he will probably sleep sounder knowing that his gold is no longer in the vaults of the LBMA, HSBC, or several hundred feet under the New York Fed.

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