Things That Make You Go Hmmm.... Such As A Venezuelan Dictator Bringing Down The Global Gold Cartel
A few days ago we penned "As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting?" in which, logically, we wondered if the unwind of the great gold cartel, whose purported price manipulation has always resided in the domain of paper, or confidence-based, precious metals, may have started from the most unexpected source: Venezuelan dictator Hugo Chavez who just announced that he will not only nationalize the country's gold industry but reclaim his physical gold (however much of it may exist) from custodians such as JP Morgan and Bank of Nova Scotia. The practical implications of this move are substantial- since then gold has seen record high after record high. Whether one attributes these moves to Chavez, or to yet another global "risk-flaring" episode is unclear. Luckily, Grant Williams, author of the always entertaining "Things That Make you Go Hmmmm", provides some very fascinating observations on this very interesting topic...
From the full note (presented below):
To sum up:
- It is common practice for most Central Banks to hold part of their gold reserves overseas in ‘gold trading centres’ (read London and New York)
- One of those Central Banks - that of Venezuela - wants its gold back
- That means that a group of banks (mainly in the UK and the USA) who are supposed to have that gold in their vaults need to GIVE it back...
- ...which in turn could potentially trigger a race to repatriate national gold holdings
- Neither Fort Knox nor the Federal Reserve (the world’s two biggest gold depositories) have been independently audited in recent times
- The status of the gold held in the Bundesbank (home to the world’s third-largest hoard) is somewhat unclear
- The practice of leasing gold by Central Banks has been going on so long that it even predates the time when Alan Greenspan advocated sound money
- The gold ‘physical market’ is approximately 100 times the size of the amount of actual underlying metal by which it is purportedly backed
- The top four bullion banks, or ‘commercials’ on the COMEX continue to run what we shall politely call ‘significant’ short positions (chart above)
In the three trading sessions since Chavez made his announcement on August 17th, gold has added almost $100, coming within a whisker of $1,900 before settling back at another record weekly close.
Market weakness? Maybe. Fear of further problems in Europe? Quite possibly. Continuing disgust with the world’s fiat currencies? Highly likely.
The beginning of a race amongst the world’s Central Banks to grab physical gold? Now THAT would be something to see...
Full note:
(11 votes)
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As much as I detest him, bravo for this move. We'll find out soon enough who's stronger: Despots elected by hiding behind a facade of communism and a controlled economy or crooks, fraudsters and banksters hiding behind the facade of democracy and alleged "free markets".
Silly question for those of you with more capable brains than mine.....
By secretly purchasing massive amounts of precious metals, and quietly minting a new PM-based-currency, could a nation begin distributing them as "real" money at an opportune moment, swaying the world away from the fake US dollar? How would a nation best go about this and could it work, stealing from the US its' reserve status?
(Not that Chavez could do it, but it makes one wonder in general.
Mr Bernard Von Nothaus is being prosecuted for doing just that... Legally it could be argued....
http://www.nysun.com/editorials/a-unique-form-of-terrorism/87269/
the dollar will be broken by the fact that it is backed by the thin air coming from bernanke's mouth. this is the start of the shakedown. brace yourselves, bitchez
http://azizonomics.com/2011/08/20/is-gold-high-or-low/
Even thin air has value, however, debt.... not so much.
At least the Venuzeulan dictator admits gold is the ultimate currency. The American dictators are still trying to keep that a secret.
The answer is YES. Especially when said dictator is allied with Russia and other countries who would prefer an end to American hegemony.
And this to me is the only reason why they are doing this; adding to its (the requests) legitimicay by nationalizing gold mines. If he didn't do this, it would probably seem more obvious that it was a financial attack rather than a dicKtators agenda. But, I honestly think he's doing us a favor.
The definition of a dictator requires that Chavez NOT be elected in a free and fair election certified by international observers.
Define "free", "fair" and "international observers", please.
As an added bonus question, how "fair" are elections exactly, when only 2 candidates have got the necessary financial backing to deliver their message?
when was the last free and fair election in the US??
They are bought and Payed for.... George W Bush ring a bell?
U got dat right!
"By secretly purchasing massive amounts of precious metals, and quietly minting a new PM-based-currency"
I don't think it can happen without a reset in the price of gold>
Sigh. Yes, the dollar is overvalued. Yes gold is going to go to the fucking moon. BUT:
No. The dollar is not "fake". The value of the dollar is exactly the value of the dollar currently. No more, no less.
To say that the dollar is backed by "nothing" is really just ignorance. The US petrodollar empire is based on control of the oil trade (among other markets) which in turn is defended by: the most powerful military in the history of the world, an intricate network of military bases (not coincidentally clustered in the oil producing region of the world) and various well-armed proxy states. (Also non-coincidentally located in the oil producing region of the world).
The dollar is a measurement of power. And that power is used to control the world's energy supply. (It's amazing that most people don't know this... as if 3 simultaneous wars aren't enough evidence). The power of the US *is* unquestionably in decline. And it is most definitely being challenged, slowly but surely by rising powers. But to suggest that the petrodollar empire is dead, or is nothing but a paper-tiger would be idiotic.
And by the way -- THE REAL REASON CHAVEZ IS BRINGING HIS GOLD HOME is not because he's worried about the banking system. He's worried that he's the next Libya. As US power wanes, the US will become increasingly militarized in an effort to seize all the world's oil. Chavez watched in horror as Qadaffi's international accounts were cut off. Qadaffi *could* have held off indefinitely if he'd had the capital to arm himself well. (He could have made the US and Europe pay an *extremely* high price for their aggression). But because Qadaffi's financial capacity was kneecapped -- Qadaffi is going to lose.
Chavez will not make the same mistake.
The Venezuelan re-patriation of gold has nothing to do with this "Is there any gold in Fort Knox" silliness, and everything to do with the fact that Chavez knows he's next.
+ log in
Very well stated popo. Many fail to see the difference between the USD and the Zim Dollar.
That's an interesting insight Popo. It sounds less likely from the comfort in the mountains of TN; but if I were the dictator of Venezuela I would be thinking about it every waking hour of the day.
Remove Popo from the Lemmings list... Original thinker at work.
Pop,
That may be the reason he's bringing the gold back to Caracas, but the effects of this action may turn out to be a nail in the current administration's economic coffin and the trigger for massive prosecutions of fraud in the so-called "Democratic free markets".
I would be ironic that Chavez, in a defensive move to protect himself as a "nuveaux communist" who is actually a run of the mill 2-bit despot who was smart enough to rightfully be elected to power by espousing the con acting like a true virulent anti-American colonialist political platform, actually decimates the bankster propped American and European free market economic systems by exposing a massive fraud of over inflated and fraudulently accounted for free world bank held gold inventories.
It's unintended consequences of decisions by the free world powers that create ironies like this that make turning points in world history.
awesome, your last sentence. kudos
Yes, and if Chavez needed any hard evidence, we are providing plenty with our troops now using 7 military bases in Columbia. Narco traffic, indeed.
http://www.cnn.com/2009/WORLD/americas/10/30/us.colombia.bases/index.html
I follow the line of thought that Hyperinflation is a psychological phenomenon whereby when, not if, the people realize their phiat is phoney, they will buy what they can to unload their tiny cotton sheets of illusion,
100% agree on the Chavez/gold connection. But the part on the dollar being intrinsically valuable is completely wrong. By this logic, we could print an infinite number of dollars, but so long as we maintain military advantage, the dollar will remain valuable. Try telling this to the Roman Empire. Oh yeah, they suffered economic collapse due in no small part to economic mismanagement IN SPITE OF their military power.
I'd start with Admiral McMullen's recent statement that the biggest threat to national security is the national debt. Why would this be the case if the dollar was "backed by American power"??? Because at some point, the dollar will collapse because of continued debasement, and when it does, the money needed to fund our military will be worthless.
To say that the dollar is worth something because it's backed by US military power is wishful thinking and not supported by fact.
Chevaz
also removed his paper assets
out of western banks last week
deposited in BRIC banks ..
after seeing LIbyan paper assets get trashed
while held in western banks ..
gonna be an interesting week ..
There's this one saying that comes from the Romans that still stands:
The outcome from any conflict doesn't come from the one with the biggest army but with the biggest gold chest.
Whatever the size of the militairy aparatus the US now has, it has the be maintained and paid for. Obama now knows that the militairy of the US is some of the only things that keeps the dollar up but to keep it up he needs to find money for it.
The money isn't a problem. As long as the rest of the world and the militairy itself keeps believing in the dollar.
There have been plenty of empires in the world. They all fell when they failled to fund their militairy. The USSR is the latest good example for it.
Let it fall.
Aaah, the good old days when mercenaries were plentiful, oh wait, they are again now ..
"And by the way -- THE REAL REASON CHAVEZ IS BRINGING HIS GOLD HOME is not because he's worried about the banking system. He's worried that he's the next Libya."
I completely agree with you up until this point. I think he's got two good reasons and he knows both of them. Chavez may be a lot of things, but he's not a fool. These third world leaders like Chavez and Qadaffi have to be smart in order to survive. The only reason they keep the gold offshore is to have it safe in the event of a revolution and loss of power. They can simple flee the country and retire somewhere. However, Qadaffi was betrayed and had no where to run. Chavez now knows the risks of keeping it offshore outweigh the risks of keeping it in the country.
Regardless, his actions may precipitate something bigger, whether he realizes it or not.
Yes nice points, but then again Chavez may not live very much longer in the first place (chemio poisonned), so why would he care to be next ?
Chavez is not Gaddafi. The Chinese have made infrastructure investments in Venezuela, and Chavez has openly discussed the possibility of selling yet even more oil to the Chinese.
An attack on Venezuela would from the perspective of the Chinese, be considered an openly hostile act. This goes for Iran as well, btw.
Oh, and a minor point;
Redundant. Every "most powerful military in the world" has always been "in the history of the world". It's called progress. Roman armies wouldn't last 5 minutes vs an 1890'es British army.
I'll take your point on redundancy. That is of course, true.
Re: the Chinese: they had huge infrastructure deals in Libya too. That arguably was the reason for the acellerated invasion.
Tell me where china doesn't have it's hands in the pot?
agreed , but will they actually let him have his gold being that he is in the firing line of the empire. russia is backing chavez yes, but i could still see some hiccup somewhere just before he is able to take delivery.
Turd is right...and also know this: Ghadaffi also has/had a massive amount of gold in his possession. It was said that he was about to re-establish the gold Dinar (Islamic money) in North Africa. It would be used for trade instead of the U.S. petro-dollar. Here's one example of an article on that subject: http://www.thedailybell.com/2228/Gaddafi-Planned-Gold-Dinar-Now-Under-Attack.html
We aren't taking Gadaffi out because of humanitarian reasons and not even for any of his oil. We're taking him out because he wasn't going to play ball anymore. Many say Saddam Hussein was also getting ready to drop the petro-dollar and thus was finally taken out because he wouldn't play ball anymore either.
Chavez has made big allies with China and Russia and is now arming himself with big-time missles. He knows we took out Saddam and that we're about to take out Gadaffi for the same reasons, and so he's building up to defend himself.
Things are gonig to get really interesting from here on out...
Keep stackin' the phyzz folks!!!
Well...thank God for 'merica again! Now shut up Chavez and eat a pringle. (it's all your allotted for this week. Sorry el jeffe.) and here comes your gold in 5..4..3..2..1....
Chavez=Quadafi
Jim Rickards has commented and reported on that exact scenario as well as GATA.org.
If a country were to bring out a PM based currency, the first thing I would do is fly down there and buy as many dollars as I could then demand conversion to gold.
The fastest way to guarantee all the gold flows out of your country.
The use of a currency is based on confidence, and not really in the inherent value of the currency itself. In order to achieve what you describe, said entity trying to secretly issue the new currency would have to convince everyone using the currency they are trying to replace to stop using it.
There is also next to no incentive to actually issueing currency that contain precious metals because then it will eventually cease to circulate as the "smart people" will begin to hoard it, and melt it for its precious metal value. This has actually happened in the past, I have heard stories of Chinese Americans mailing home to China hundreds of rolls of old coins containing silver to be melted over there.
For a new currency to work and for a real change in paradigm, there are a few things that need to happen. 1) The people have to start understanding the level of corruption occuring in their respective countries. 2.) The people have ti understand that the tax system in each country is set up to perpetuate the system of corruption. 3.) The people must cease to participate in the economic system by massively converting their fiat confidence based currncies into precious metals, and non luxury/non vanity based commodity they will actually keep at home.
There are more requirements that could precipitate a currency collapse such has hyper-inflation, and price controls, and rationing, but these are actually top down kinds of event. What is needed id bottom up events that the ruling elite never see coming.
I believe we are starting to get to that point. It will be interesting to see if the elites of the world can manage to keep control, or end up swinging on ropes.
first of all my guess is chinia is behind this move....but my questions are..
1} what happens if he does not get his gold?
2} will others be taught a lesson , don't ask?
3} will others wise up and demand their gold back?
chavez is so minor they could just put him on hold or let the machine get it.....
The answer is pretty simple:
If he doesn't get it, everybody will doubt the existence of the Fort Know Gold stash. Thus panick will brake out and everybody will want it all back at the same time. Thus a gold rush will form. Thus a dollar crisis beyond belief making the dollar drop 99% in a matter of months.
Nop, they'll give him the gold. But the question will be, who's gold will it be.
Hong kong has already officially asked and, I believe, received their stash... Last year there were rumors that Germany had asked their stash to be returned too..
Lest we forget what finally brought about the abrogation of bretton woods in 1970.... Merci m. Degaulle.... Halas debt based fiat money survived that blow by means of the floating exchange rate mechanism....
Can we finally drive a stake through dbfm now?
This could get pretty interesting. If Chavez demands the gold and the dirtbags at the Morg can only offer inflated FRNs, then Chavez could threaten to turn off the Oil Spigot.. He's got the strong hand on this one.. Game on!
Almost a strong hand... he needs to sell the oil to pay for the operation of his country. So he sells to somebody else who brings it into the fungible market.
I cannot imagine that the Chinese do not have representatives sitting in Caracas right now ready to write a check the moment he sells. He will not have problems selling oil.
You do know that Ft. Knox and JPM have independent vaults, right?
Better questions: How much tungsten is in those vaults, and WHO owns it?
I agree. If they can't or won't give Chavez his gold back then everyone will doubt how much gold there is. Thus setting off a scramble for it.
Of course if they give his someone else's gold, and that someone else also wants their gold, then that will set off an international scramble for gold as well.
Looks like it's time for an audit (hundreds of INDEPENDENT audits!)
I have a feeling the shipment will be sunk. If not, then they will give him Gaddafi's gold. Just in time. If Chavez really wants to kick the West in the nuts, he could then turn around and tell the world we gave him tungsten! Who has more credibility at this point?
It never happened before righ?
Morgan Stanley DW Inc.New York, NY: (Jun-12-07) A class action lawsuit filed by brokerage clients against Morgan Stanley alleged that the financial firm told clients it was selling them precious metals that they would own in full. Morgan Stanley said it would store the metals, but made no investment specifically on behalf of those clients, or made entirely different investments of lesser value and security. The suit was filed by Selwyn Silberblatt in August 2005 on behalf of himself and others who bought precious metals, gold, silver, platinum, and palladium in bullion bar or coins, from Morgan Stanley DW Inc. and its predecessors and paid fees for their storage. The suit covered investors who did so between February 19, 1986 and January 10, 2007.
In a settlement reached, Morgan Stanley agreed to pay $4.4 million to settle the class action lawsuit. The company did not admit to any wrongdoing, but stated that the settlement was made to avoid the costs of protracted litigation. [REUTERS: PRECIOUS METALS FRAUD]
Strange nobody ever mentions this one anymore :)
24,000 or so class members failed to read the fine print and were too lazy to take delivery, but had a humbug about paying storage fees for unallocated metal. Meh.
It's hilarious that you can't tell the difference between owning a share on a physical bar of metal and owning a share of nothing.
People like you make people like me rich. Keep it up.
People like me, who only buy physical bars that are in my possession, make people like you, asshats who like to brag while being thoroughly uninformed, "rich", for some definition of that term hitherto unspecified?
Do tell.
Speaking of being taught a lesson:
The she said/he said saga of the hotel housekeeper versus the wealthy Frenchman is heating up again in New York. Nafissatou Diallo's lawyer has told reporters that he expects she will be informed Monday that prosecutors are preparing to dismiss all or some of the charges against Dominique Strauss-Kahn, the former head of the International Monetary Fund who she says tried to rape her.
Criminal charges, yes, but I'd keep an eye on her civil suit.
And for the REAL STORY ON THE DSK AFFAIR, read Pam Martens excellent backstory:
http://www.counterpunch.org/martens08082011.html
Most enlightening!
My three favoite sites, all have a boxing theme.
Fight Club
Counterpunch
The Daily Bell (when you hear the bell go to a neutral corner)
Stop Clinging to False Hope and Face Reality Saturday, August 20, 2011 – by Anthony Wile The Daily BellAll week long we have been witnessing a breakdown in global markets, or perhaps better stated – general public confidence. Gee, why would that be, we wonder? Why is it that the general public is not so easily convinced that all will be okay? Where is the usual confidence in their elected and non-elected leaders who've been given license to run the world, practically speaking?
Well, we don't want to be the ones who say, "We told you so," but we did. And besides our publishing efforts here at the Daily Bell we have been trying our best to help spread the word as it relates to the oncoming financial hurricane (Hurricane Reality) for more than ten years now. Has it helped? Absolutely, for some.
Read more @
http://www.thedailybell.com/2825/Anthony-Wile-Stop-Clinging-to-False-Hope-and-Face-Reality
You must be a totalitarian, sonny (DarthVaderMentor) if you detest the democratically-elected populist President Hugo Chavez.
Viva Chavez!!!!!!!!!!! If only Amerika had someone decent and respectable like he.
"Venezuelan dictator" WTF...WTF??? Is TD on the payroll of the American Enterprise Institute.....or the NY Times????
Since when are democratically-elected rulers dictators, doood????
Maybe you attended college alongside our illustratious VP, Joey bin Biden, who recently remarked that the way to create jobs in Amerika is to convince the Chinese they should invest here??? WTF, doodettes? (News flash, Joey bin Biden, American-based multiationals and corporations have offshored the product assets, and capital assets, duuuuh!!!!)
I mean, is that the very same VP Joey bin Biden who proclaimed that Mubarak wasn't a dictator (just hanging out jail cages in a courthouse in Cairo) and that Wikileaks' Julian Assange was an "international terrorist"??? WTF, dooood??
At least in Venezuela, they actually have a democratically-elected president who appears to care for the populace on the whole, and pays attention to the oppressed (first-time free clinics, free college eduction, etc., etc., etc. --- not monopolization for Wall Street, like that Reagan-Bush-Clinton-Bush and now Obama, the Hopeless Changeling!!!).
I kind of like Chavez too, he's got balls, and he's popular with the average Venezuelan (but not with the elite). Don't forget that Hitler was also elected by a democratic majority. So was Dick Cheney. Just because there is a democratic system doesn't mean there can't be a dictator, it's not mutually exclusive.
IIRC Hitler got something like 34 percent of the vote; not a majority by any means, but more votes than the other candidates therefore enough to name himself Chancellor.
indeed obama was elected, money can buy you into a lot of things.. obama is hitler on steroids and he was voted in just the same.
As I have said, he was elected on a political platform of anti-American colonialism with a plan to re-distribute wealth and act solely for the advancement and furthering of the interests of Venezuela. I know. I was there to see it myself while on business. He was righteous and very accomodating, much in the manner of Fidel's revolution, which was heartily at first accepted by many of my gullible gringo countrymen as well.
Unfortunately, he used that set of ideals to leverage what has turned into a typical dictatorship that maintains a veneer of respectability through the curtain of intense socialism and "Cuban style" communism. As the people become aware that they have been fooled, he has methodically implemented a police state delivered and supported by the resources of his close friend an ally Fidel Castro.
I don't agree with the way America has treated this country. Our foreign policy, and the way we treated this country, at best, shows how ignorant, greedy and inept Washington can be. I was there when Nixon was assaulted in Venezuela and the US was as much at fault as it being the victim. Chavez succeeded because our economic and foreign policy was one of benign neglect and threat of military force for decades.
On the other hand, the Venezuelan people are now suffering under a dictatorship not much different than that of other very successful despots of the past and present, like Stalin, Ghaddafi, Saddam Hussein and Fidel Castro. All these dictators have one thing in common: they use religion, political dogma or anti-colonial righteousness to initially take over then over time expose themselves for what they are: brutal, run of the mill despotic dictatorships. Chavez, like all of the above list, initially got the support of the world because they are perceived as gutsy when facing America and other colonial powers. That is commendable for them. The problem is when the gullible foreigners (especially my ignorant countrymen) then overlook the brutality of the regime because it's cool to be anti-American, which is unfortunately, just a cover story. I'm certainly not for American internvention and the religious neo-colonialism (neo-conservatism) of our past administration which has led to military blunders, but I also don't endorse the brutality of a Chekist trained police state either.
Disclosure: I am an American citizen by birth (and my father's family help found America), yet one of my ancestors was el "Mocho" Hernandez who tried to liberate Venezuela from the tyranny of Spanish colonialism. I have shaken hands with Fidel, my uncle's initmate knowledge of the jungles of Bolivia and Ecuador helped hunt down El Che, I sat in the Lap of Rafael Leonidas Trujillo, my Dad destroyed the shining path guerillas in Eciador by giving the poor people there electricity for the first time and besides being tri-lingual I have visited and done business dozens of times with people in Venezuela. In my travels there I have many times walked through Caracas and other cities with no one ever noticing that I am not a local, since my accent is just like theirs and I am thoroughly knowledgeable on their culture, mannerisms and language.
Yet Venezuela has free and fair elections that are verified by independent observers, while Cuba doesn't.
DVM: "they use religion, political dogma or anti-colonial righteousness..."
Taking "anti" out of your sentence makes it applicable to U.S. Empire.
The naivity of some people really cracks me up!!! and on ZH of all places!
Democratically elected??? Damn I'm glad I was sitting down for that one!!!
There is nothing free in Venezuela that is all a bunch of bullshit but you keep on going on believing the lies. The health care is so great Chavez went to Cuba for treatment!!!
Free to his cronies but don't publicly state you don't support him because you won't get that free stuff. Protest and strikes going on daily in all parts of the country. Black market for everything from food to clothes to anything else you really need.
Change the constitution with your cronies that you have placed in government and your paid off judges so you can run for reelection when the constitution forbids it!
Yes Chavez the great father of democracy!!! Our hero!!! He really has a lot of people dupped doesn't he?
Crime so rampant that 23-46 people murdered every WEEKEND in Caracas alone!
Plant drugs on the opposition so you can through them in jail. Send goon squads out to beat up and harras the opposition.
Close up the little shops in prime areas if the owner doesn't support you and repatriate and hand oout to your cronies!!
Yes Venezuela paradise on earth!!!!
Yes I too have family in Venezuela as well as Ecuador
I can't figure out who you are referring to by "despots hiding behind a facade of communism". There are so many candidates to chose from in the world, and Chavez isn't the most obvious choice.
Chavez's move makes perfect sense. Many of his enemies happen to be the same enemies of every gold bug.
I completely agree. He is brilliant and he has certainly acted in the best way to further his own interests and possibly those of Venezuela. On the other hand, a brilliant economic action, IMHO cannot be translated into an endorsement of his regime.
Two wrongs don't make a right. He's smart, he's made a brilliant move, and the gold bugs as well as other may suffer because of this at his gain, but that doesn't mean his regime is a valhalla for the Venezuelan people.
Go study your modern Eastern European history. Show me a true communist state that didn't turn out over time to become a dictatorship with an oppressed people and a nomenklatura. Marx was betrayed over and over again starting with Lenin and to date with Fidel.
More like Marx was vindicated from the murder of the Romanovs to Katyn to the Fidelist firing squads, with a layover at "the killing fields." (forgot to mention Katyn II)
He is likely to be moving this gold for political reasons - he sees how the unpopular leaders got their assets frozen (Quadaffi, Assad, Mubarak, etc) and so in anticipation of either social unrest and a followed up crackdown or just a general hedge against any future confrontation with West (he is tight with Iran). Think this is more of a politically motivated move than economy.
Which one is which?
Seriously, these guys are the same in every way. They are two different teams playing in the same sports league.
A detailed list of countires who hold their own gold like Libya would be helpful when filling out my "Next country to riot and therefore need some US/Euro/UN kinetic action" bracket.
And why do you despise Chavez? Have you forgotten or didnt realize that Chavez has been elected in clean elections monitored by the international community and also prevailed in a referrendum? That Jimmy Carter reported he was spit at by members of the elite for his role in monitoring. Thus, Chavez is as democratic a leader as current US presidents, if not more so because the Republicans stole both Bush elections. The US political system is totally controlled by the bankers/elite, and thus all the bad press for Chavez who is the only Latin American leader who has successfully taken leadership from the aristocracy. Read James Petras and learn some history rather than believing all the shit from the US and European elite controlled media.
Anyone who opens free medical clinics for the poor is a socialist DICTATOR and TYRANT. And an ENEMY OF FREEDOM. And a THREAT to our way of life. Don't you know that?
Hope & Change bitchez. The Kenyan and The Bernank.
Do you know where your gold is, bitchez?!
Buried very deeply, where no Zombie will ever think to look............
I have GPS coordinates, remembered.
The paper gold value in the hands of many Americans is going to disappear much like the real estate value because a lot of the real gold will be sitting in the hands of Venezuela guarded by AK-47's and AK-74M's. You can burst an refuge asset bubble two ways...blowing the asset valuations by decreasing value or blowing the holders of the asset by fraud.
My gold is in coins. So is my silver. And every once in a while, I buy a little more, regardless of the price.
I won't sell it. I keep it for doomsday, when any gold and silver coins will be quite valuable. You see, all that paper gold will be worthless. It's the coins that will be commercial.
And few will have it.
Savage times it will be.
tyler, if could you exactly explain how a democratically elected president like Chavez is a dictator, i would be grateful. such comments make you sound like a moronic state department official.
Chavez is about as "democratically" elected as Ahmaddinejad is in Iran. Third world countries such as Venezuela have little to no credability in their elections simply because there is not enough legal protections in place to insure a fair election. My personal belief is that one reason Chavez wants the physical gold back is because his poll numbers are sagging to historic lows, and he wants to insure his own future survival. Meaning, don't expect all of that physical gold to make it to the central bank vaults.
and i suppose our elections are credible?
Mike Connell
http://wespeakforfreedom.com/forums/specific-categories/political-issues...
Enough said.
Vivek (ORI)
But Jimmah says they are good and fair just like Ahmaddinejad's election. You don't question the "jimmah" do you? One must not question what the previous "glorious leader" said or one could be suspect as to what homeland security calls a terrorist.
The leader of any country that does not kowtow to the wants and needs of the multinational corporations is awarded the title of Dictator by the MSM.
Quickly troll tgatliff, name for us the two largest voting machine companies in North America and the two ultra-rightwing whackadoodles who just happen to be their owners!!!!
Legal protections, dood??? Explain that to anyone familiar with the predatory jurisprudence system of America, dood! Thomas Linzey would be most interested in your lame and inarticulate thoughts on the matter.
Are you perchance related to Otto Reich or one of his Cubano henchmen? Egil Krogh????
And name what voting software/lobbyist company Robert Gates was a special advisor to prior to becoming SecDef?
Hugo Chavez rescinds the operating licenses of any media outlet which refuses to capitulate total fealty to Mr. Chavez's agenda. Defiant governers and other representatives are forced out and replaced with compliant sychophants. Chavez frequently exercises the autocratic power of confiscating any private property, as well as dictating all economic policy with Venezuela.
Further examples abound, though I suspect they fall upon deaf ears.
That is complete horse shit and misleading.
Stalin used to receive 100% of the vote in elections. That is neither horsesehit or misleading. And who can forget his "victory" over Kirov? Who counted those votes?
"Those who vote decide nothing. Those who count the vote decide everything." - Joseph Stalin