WTF: Is Venezuela Paying Off Russian Debt with 20 Tons of Central Bank Gold Reserves?

To much of the rest of the world, Venezuela remains a mystery. It’s hard to understand how a country with the largest oil reserves on the planet can’t afford to feed its people. But then, Venezuela also has a government that devalues its national currency by 95% from one day to the next. And pays its pensioners in Petro. So perhaps it’s not entirely unimaginable that Maduro is using national gold reserves to cancel its Russian debt. Or is it? The answer to that question, like so many others, rather depends on whom you believe. Indeed, in this day and

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