GREY:STPJF - Post by User
Post by
LeGagneuron Aug 17, 2011 1:06pm
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Post# 18952065
Venezuela to nationalize gold industry
Venezuela to nationalize gold industryWe discussed the political risks associarted with certain investments in one of my earlier posts. This here certainly is areal threat - nationalization. Thats why Canada probably will be one of the very last places on the globe trying to protect private investments. Remember some 90% already of e.g. all the worlds oil reserves has been nationalized.
Venezuelan President Hugo Chavez said on Wednesday he plans to nationalize the gold sector – including extraction and processing – and use the production to pad the country’s international reserves.
Mr. Chavez, speaking on state television, said he would carry out the nationalization through a decree in coming days.
https://www.theglobeandmail.com/report-on-business/international-news/latin-american/venezuela-to-nationalize-gold-industry/article2132413/?utm_medium=Feeds%3A%20RSS%2FAtom&utm_source=Globe%20Investor&utm_content=2132413