[LegendHasIt]

Dear old 'Uncle Hugo'; rapidly turning Venezuela into another Rhodesia Zimbabwe.

[LegendHasIt]

May be of slight interest to the Precious Metals Ping List.

One of several gold producers, world wide, that have been nationalized or shut down for political and/or safety reasons in the last month or two. Eventually this has to effect the price of gold, despite lowered demand from industry and the jewelery business.

[Dallas59]

Dear Leader #3 is hurting.

[bpjam]

what was the holdup??

I don’t know why Chavez would have delayed in seizing anything of value as soon as he found out about it. Goldmines sound like things of value so they must have been owned by somebody paying political tribute up until this point but Chavez simply ran out of money and needed a quick infusion.

Still, it’s only the beginning of the end of Venezuala. There is still plenty of carnage left to go if Cuba was any measure.

[nothingnew]

Next thing you know, he'll be nationalizing banks, the auto industry, the health system, retirement accounts, the school system etc etc....Glad I live in the good ol' USofA!

FMCDH(BITS)

[RightWhale]

Gold production might be considerably reduced by being taken out of the private sector and wouldn’t come close to making up for oil shortfall anyway.

[jsh3180]

Hugo has bled Crystallex dry. Years of playing his game for naught. Rusoro Mining, owned by Russian mob family Agapov is moving in to run all the mines Hugo is nationalizing. KRY is now trading at about 10 cents.

[yefragetuwrabrumuy]

Hopefully the Canadians will do their part to insure that any Venezuelan who tries to mine gold without knowing how to do so, will soon discover that there is a reason miners are professionals.

[the invisib1e hand]

I think I read about this in Atlas Shrugged.

[6SJ7]

Socialism is like alchemy in reverse; turning gold into lead.

[ml/nj]

'We are taking back some concessions that former governments have given, and whose permits are still held by some rich people,' in order to reduce public reliance on oil,

What a great line! Will the Anointed One use it here?

ML/NJ

[Tarpon]

Socialism needs more free pies, STAT.