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Venezuela Opens Gold Vaults For Inspection Amid Crisis

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http://www.bloomberg.com/news/2014-09-24/bofa-peeks-inside-venezuela-s-gold-valut-for-closer-look.html

Francisco Rodriguez, an economist with Bank of America Corp., was at a routine meeting with Venezuelan central bank officials last week when he sprung an unusual question on them: Can you show me your gold?

He’d been itching to take a peek for years and now was the time to ask. With the government’s bonds sinking toward prices that indicate investors are bracing for the possibility of default, the country’s $15 billion of gold bars are crucial to ensuring debt payments are met. His first impression once inside the vaults? Those bars don’t take up a lot of room.

All they need access too now is Fort Knox.

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Quite amazing that Venezuela is being more open than the Federal Reserve.

If the gold is there, why can't the Fed just throw open the doors and let us have a look? Or perhaps give us the complete inventory list with serial numbers?

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