"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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Chavez makes a run at Venezuela's Gold
Both Dow Jones and the Wall Street Journal are reporting this morning that leftist strongman Hugo Chavez plans to nationalize the gold industry of Venezuela. There looks to be little if any influence on the gold price from this news. About the only effect that I can see is on mining companies that have their operations down there.
He's also pulling all his gold from London. What affect do you think this will have on the price?
ReplyDeletehttp://www.zerohedge.com/news/chavez-pulls-venezuelas-gold-jp-morgan-great-scramble-physical-starting
He won't get an ounce.
ReplyDeleteThe banks don't have it, it was long ago scattered to 100 different winds...