GOLDBUGS AMEX Goldbugs Index (GOLD)

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Chavez must be turning in his grave. Now that Venezuela is in such broad financial difficulties it is, naturally, trying to find ways to ameliorate its problems.
However, we now learn that the President of Venezuela has agreed to have Goldman Sachs take and lease out its gold, presumably to earn a few %-age point returns on around 200 tons which the late Hugo Chavez took great pleasure in bringing back from the New York Fed vaults.

The only reason for this 180% policy turnaround must be that Venezuala is almost bankrupt, as in giving GS the gold is a complete reversal of the Chavez view on gold. There remains,also,a risk that this gold me not be recoverable in the medium or longer term. (Germany should know)

From our perspective here, it looks like GS ,as a puppy dog of the Fed and the BIS, now has an extra 200 tons of gold to lease into the market to bolster the project of destroying the gold price.