Chavez Formalizes Nationalization of Gold Industry
Source: Associated Press (8/24/11)
"President Hugo Chavez' formal decree aims to give the government total control over gold produced in the South American country."
President Hugo Chavez signed a decree Tuesday formalizing the nationalization of Venezuela's gold mining industry, a move aimed at giving the government total control over gold produced in the South American country.
Speaking during a televised speech, Chavez also announced the repatriation of $11 billion in Venezuelan gold reserves currently held in U.S. and European banks would begin within several weeks. . .View full article