When the facts change, I change my mind. What do you do? -- John Maynard Keynes
Sunday, August 28, 2011
How to get $12 billion of gold to Venezuela--it's a real problem
How to get $12 billion of gold to Venezuela | Felix Salmon: "Venezuela would need to transport the gold in several trips, traders said, since the high value of gold means it would be impossible to insure a single aircraft carrying 211 tonnes. It could take about 40 shipments to move the gold back to Caracas, traders estimated.
“It’s going to be quite a task. Logistically, I’m not sure if the central bank realises the magnitude of the task ahead of them,” said one senior gold banker."