Bad Bwoy Chavez nationalizes gold industry

[Islandman]

Venezuela’s Chavez wants in on gold action

August 17, 2011, 2:43 PM.President Hugo Chavez announced Wednesday that he will nationalize Venezuela’s gold industry in a bid to apparently benefit from gold’s phenomenal gains, according to state-run AVN news agency. And why not? He’s already nationalized several industries, including oil and telecommunications.

His decision comes at time when gold’s at a record high. December gold GC1Z ended Wednesday’s session at $1,793.80 an ounce. Gold prices have gained more than 25% year to date as investors scramble to find less risky investments.

And Venezuela has lots of gold – about $12 billion to $13 billion dollars in gold reserves, according to Chavez, who also said his country “can’t allow it to continue to be taken.”

Chavez has also made it clear that he’s not taking chances. The Wall Street Journal reported Tuesday, that Venezuela plans to transfer tons of gold from European banks as well as billions of dollars in cash reserves from banks in Russia, China and Brazil to its central bank vaults.

– Myra Saefong

[Gamma]

heheheheh ....

[Time]

Venezuela’s Chavez wants in on gold action

August 17, 2011, 2:43 PM.President Hugo Chavez announced Wednesday that he will nationalize Venezuela’s gold industry in a bid to apparently benefit from gold’s phenomenal gains, according to state-run AVN news agency. And why not? He’s already nationalized several industries, including oil and telecommunications.

His decision comes at time when gold’s at a record high. December gold GC1Z ended Wednesday’s session at $1,793.80 an ounce. Gold prices have gained more than 25% year to date as investors scramble to find less risky investments.

And Venezuela has lots of gold – about $12 billion to $13 billion dollars in gold reserves, according to Chavez, who also said his country “can’t allow it to continue to be taken.”

Chavez has also made it clear that he’s not taking chances. The Wall Street Journal reported Tuesday, that Venezuela plans to transfer tons of gold from European banks as well as billions of dollars in cash reserves from banks in Russia, China and Brazil to its central bank vaults.

– Myra Saefong

Hmm, some people soon invade Venezuela.

[Hortical]

His economy is stagnating & they have rolling blackouts for a country that is the world’s eighth-largest oil producer. When it comes to oil production it has declined under his watch from 3.3m barrels per day to around 2.25m b/d. Of that, some 1m b/d is sold at subsidised prices at home or to regional allies, leaving just 1.25m b/d for full-price exports. Plus mi nuh even mention the free oil he gives the Castro brothers in return for medical workers from Cuba.

[Historian]

Solid Post, Hortical

His economy is stagnating & they have rolling blackouts for a country that is the world’s eighth-largest oil producer. When it comes to oil production it has declined under his watch from 3.3m barrels per day to around 2.25m b/d. Of that, some 1m b/d is sold at subsidised prices at home or to regional allies, leaving just 1.25m b/d for full-price exports. Plus mi nuh even mention the free oil he gives the Castro brothers in return for medical workers from Cuba.

Thank you for pointing out these facts, Hortical .

Individual posters will, and rightfully so, have their own opinions. Nevertheless, sometimes when I read some of the things posted, I simply have to shake my head in disbelief.

Hugo Chavez is an unmitigated disaster, and nothing Venezuelans have done in their past should have caused them to be cursed with a leader like this! But, he seems to be a hero to one or two posters here.

Watch the slow but certain downward socio-economic ride for this oil-rich South American nation.

[HL]

Chavez reminds me of Michael Manley.......................>>>>>>>>>>>>>!!

[MdmeX]

Chavez reminds me of Michael Manley.......................>>>>>>>>>>>>>!!

Be very careful & afraid as Jawge may charge you with TREASON

[MdmeX]

Thank you for pointing out these facts, Hortical .

Individual posters will, and rightfully so, have their own opinions. Nevertheless, sometimes when I read some of the things posted, I simply have to shake my head in disbelief.

Hugo Chavez is an unmitigated disaster, and nothing Venezuelans have done in their past should have caused them to be cursed with a leader like this! But, he seems to be a hero to one or two posters here.

Watch the slow but certain downward socio-economic ride for this oil-rich South American nation.

Well Chavez says he wants to be in charge until 2019 or thereabouts