"Slowly but surely, ever more physical gold is being removed from circulation
in conventional channels. Yesterday, it was Sprott who a week after doing a
follow on offering in his PSLV ETF (i.e., adding more physical), reported
that he was going to buy an as of yet undisclosed amount of gold for PHYS.
This came just as Venezuela completed the rapatriation of its gold from European
vaults, which means that it is substantially ahead of all of its other
international peers who confidently continue to hold their gold stashed away in
vaults situated primarily in London and NY. From Bloomberg:
"Venezuela today received the last shipment of gold bars in an operation that
repatriated 160 tons of the South American country’s reserves of the metal held
abroad, said Nelson Merentes, president of the country’s central bank. Fourteen
tons of gold arrived at the Caracas airport today on a flight from Europe,
Merentes said. The gold bars were transported in a caravan, broadcast on state
television, to vaults at the central bank where street banners proclaimed
“Mission Complete.”" So now that the defections in the golden game theory
equilibrium have commenced, the question is: who is next?..."
at http://www.zerohedge.com/news/venezuela-completes-repatriation-160-tons-gold
at http://www.zerohedge.com/news/venezuela-completes-repatriation-160-tons-gold
