Chavez goes for the gold

Venezuelan dictator Hugo Chavez is going for the gold. No, I’m serious, he is literally going for the gold. All of it. It now belongs to Hugo to use and abuse at his whim because that’s what dictators do.

Chavez to nationalize Venezuelan gold industry

Chavez seems to have lost patience and decided to put the whole industry into state hands.

Venezuela will nationalize its gold industry and is moving its international reserves out of Western countries, President Hugo Chavez said on Wednesday in a combative step ahead of his re-election bid next year.

The moves will make the finances of South America’s biggest oil exporter even murkier as the 57-year-old socialist leader gears up for an election battle that was already looking close even before he was recently diagnosed with cancer.

Chavez has put large parts of Venezuela’s economy under state control and is now targeting the gold industry after his government quarreled with foreign companies who complained that limits on how much gold they could export hurt their efforts to secure financing and develop projects.

Chavez seems to have lost patience and decided to put the whole industry into state hands.

“We’re going to nationalize the gold and we’re going to convert it, among other things, into international reserves because gold continues to increase in value,” the authoritarian but charismatic president said in a phone call to state TV.

“I’m going to approve a law to begin taking the gold areas, and there I count on (the military) because there continues to be anarchy, mafias, smuggling.”

4 thoughts on “Chavez goes for the gold”

  1. Cono!, eso manda feo!!!!! I agree Asombra, there is a vague resemblance between the monkey king and risita. It’s not really physical, but rather a spiritual connection that someone makes them look similar.

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