http://www.sprott.com/Docs/InvestorsDigest/2011/MPLID_080511_pg261Emb.pdf

Juat wait till Chavez is refused his gold because they don't have it, lets see them get out of this one. Don't think he'll accept fiat. When they realize gold will not be sent back to those that own it the scramble will be on.

You don't really think that will happen do you? I expect the gold has already been counted and prepared for shipping (if not already enroute) before the announcement was made. You don't move that much gold without making preparations far in advance, and it's not like the decision was made overnight. They've been talking about this since 2008.

As for Venezuela "nationalizing" its gold....

http://tinyurl.com/3q24mco

"It's unclear how Chavez's new decree differs from a 1965 law that nationalized gold mining in Venezuela. In 1977, the government granted itself exclusive rights for extracting gold."

ebear