"...Chavez raised that idea with a chuckle as the IMF, the lender of last resort for countries in trouble, considers trimming costs by selling off some of its gold reserves. 'Look at how the U.S. empire must be in unimpeded decline, that the International Monetary Fund ... is selling its crown jewels,' Chavez said during a speech at a military parade."

These types of statements by Chavez indicate that he is aware of the value of gold as currency....especially in the environment of a declining dollar. Although officially gold is not a "strategic industry" in Venezuela, hopefully Chavez doesn't privately feel that gold....especially given the problem of rampant inflation in his own country and the need to denominate oil sales in non-dollar currencies in a global context of shifting currency exchange rates is of strategic importance. The less he knows or cares about KRY\gold the better imho.