Comment: Venezuela to exchange gold for $ with Goldman Sachs?

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Venezuela to exchange gold for $ with Goldman Sachs?

Is Venezuela Selling Gold to Goldman Sachs? 11-21-13

Venezuela’s Central Bank and Goldman Sachs are ready to sign an agreement to swap or exchange international gold reserves, with a start date in October, as stated in the contract, and until October 2020.

The negotiated amount, equivalent to 1.45 million ounces of gold, are deposited in the Bank of England and the transfers are made directly to Goldman Sachs once delivery times are stipulated.

The operation involves the delivery of gold from the central bank, which will receive dollars from the U.S. firm. The transactions are made through the creation of a financial instrument that is traded in the international market.
http://www.zerohedge.com/news/2013-11-21/venezuela-selling-g...