With A Venezuela Default Looming, This Is What A BofA Banker Wanted To Look At First

With a 66% chance of default/devaluation implied by the Venezuelan credit market, BofA economist Francisco Roriguez sprung an unusual question on the struggling socialist nation’s central bank – Can you show me your gold?
As Bloomberg reports, the answer was “yes”…
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.

This post was published at Zero Hedge on 09/24/2014.