The Cartel Strikes Back: S&P Downgrades Venezuela to B+

'You didn't think that the cartel would just sit there and politely hand Mr. Chavez his 210 tons of gold back now, did you?

The first retaliatory shot has been fired in the great gold war. In another Friday night shocker, S&P tonight downgraded Venezuela's credit rating to B+ from BB-.

Shockingly, S&P actually admited that the reason for the downgrade was Hugo Chavez demanding Venezuela's gold be repatriated from the BOE (kept by JP Morgan and friends)!'

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