Venezuela May Try to Get its Gold Back

If I hadn't seen this, I wouldn't have believed it. Of course I always knew that the 'fix was in' when it came to the main stream media in the U.S.A...but this is totally off the charts. I hate to use the word 'conspiracy of silence'...but, if the shoes fits....

Of course Jon Stewart over at The Daily Show had a field day with it...and rightly so. I thank reader James Davis for sharing this very hilarious [and very sad] must watch video clip with us. It's a posting over at dailymotion.com...and the link is here.

Here's an AP story that was picked up by The Sacramento Bee yesterday.

Reader Scott Pluschau pointed out the paragraph that mentioned "volatile bread and cereal prices." And yes, you read that right. You just can't make this stuff up.

It's a handful of short paragraphs...and will take less than a minute of your time. The link is here.

Switzerland, the nation that hasn't gone to war with a foreign power since Napoleon, is reluctantly debating a generational taboo: ceding monetary independence to win a battle over its runaway currency.

Swiss National Bank Vice President Thomas Jordan said the central bank is assessing "a whole range of options" to prevent the franc, which reached a record against the euro this month, from making Swiss goods prohibitively expensive. Even a cup of coffee at Cafe St. Gotthard in Zurich costs $8.30, with one Swiss franc buying $1.2816 at today's exchange rate.

"The franc is catastrophically overvalued," said Blocher, a former justice minister for the People's Party, Switzerland's largest. "It's almost like economic warfare -- to wage a war, you must use all measures at your disposal, and you must win."

It's a Bloomberg story that I ripped from a GATA release yesterday...and the link is here.

Here's a short blog that Eric King sent me yesterday...and the title pretty much say it all. It's posted over at the KWN website...and the link is here.

Eric sent me two blogs yesterday...and this is the second one.

I met Bill about five years ago at a gold conference in New Orleans...and I've always been impressed with the level of his thinking...and his writing skills. This KWN blog is also very short...and the link is here.

The blog of this audio interview was available on Monday...but I had no room for it in my Tuesday column. I wasn't overly concerned about posting the blog, as I knew the full audio interview would turn up eventually, which it did yesterday.

I've actually had the time to listen to this...and it's worth your while as well. James spends some time talking about the underperformance of the mining shares. It runs about ten minutes...and the link is here.

Venezuela may transfer billions of dollars in cash and gold reserves held in U.S. and European banks to financial institutions in "allied" countries, opposition lawmaker Julio Montoya said today.

Montoya, speaking on the Globovision network from the National Assembly, said the Finance Ministry wants to transfer more than $6 billion of cash reserves to countries including China, Russia, and Brazil. Of Venezuela's $18 billion in gold reserves, $11 billion is held abroad and could be transported back to Venezuela, Montoya said, citing a document he said he obtained from the ministry.

This Bloomberg article, filed from Caracas yesterday, was another one that I stole from a GATA release. It's a must read...and the link is here.