A bankrupt Venezuela is selling the family silver (gold) to stay afloat. It’s State Oil company PDVSA is virtually insolvent and citizens scramble to buy essential food items. Perhaps they should try austerity like Greece? Oh, and the same fete awaits soon to Brazil

Venezuela exported about 443 million Swiss francs ($456 million) worth of gold to Switzerland in February, data showed on Tuesday, as the South American country’s central bank carried out swaps to receive cash due to a biting economic crisis.

Source: Venezuela exports $456 mln in gold to Switzerland amid cash crisis | Reuters