Venezuela and opposition eye gold transfer to US
Venezuela and opposition factions are nearing an agreement to transfer four billion dollars in gold from the Bank of England to the Federal Reserve in New York. The funds would support post earthquake reconstruction and economic reforms under strict US oversight.
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Venezuela and an opposition faction are negotiating a deal to transfer 31 metric tons of gold valued at $4 billion from the United Kingdom to the United States for reconstruction. Seven people familiar with the talks said Friday the arrangement gives the acting government legal control of the bullion. The reserves could be used as collateral for borrowing following June's twin earthquakes.
