Venezuela to Repatriate Up to $11 Billion Gold Reserves from U.S., Europe

Venezuela's popular democratic President Hugo Chavez said that the recall of the gold reserves is intended to help protect this oil-producing country from the economic woes in the United States and Europe, adding he wants to eliminate the "dictatorship of the U.S. dollar".
"This is a healthy decision. We're going to start to bring back our gold to the Central Bank," Chavez said in a telephone call broadcast live on state television.  Mathaba...

Chavez to nationalize Venezuelan gold industry

Venezuelan President Hugo Chavez said on Wednesday he will nationalize the gold industry, including extraction and processing, and use its output to boost the country's international reserves.

The move follows a dispute between his government and foreign miners who say the rules limiting the amount of gold that can be exported from the South American nation hurt their efforts to secure financing and create jobs.  | Reuters

Also read:

• Venezuelan golden retreat could lead to dire trouble

 

Ron Paul Confronts Ben Bernanke: Is Gold Money?

I Found this on WhatisGold.net: 

Gold is Money

Gold has always been accepted around the world as a means of exchange and a store of value - the mark of good money. Gold is money because it is uniquely suited for being our money, not because it's shiny and fancy looking, but because it is actually the most practical choice. What makes Gold the good money? Gold is money because gold is durable. Other choices from the past like wheat, hemp, fish, cows, or even people, cannot endure the test of time - only gold can. Gold is money because Gold is divisible and consistent. Pure gold is worth exactly the same amount per unit regardless of how it is divided; it is all just gold. Making change for a cow is far too messy, cumbersome and subjective. If you take a pretty, shiny, 1 ounce coin and chop it in half with a hatchet, you have two half ounce pieces of gold. Melt it down and pour it into 10 1/10 ounces and all 10 pieces together will equal the value of the original one ounce gold piece. Gold is money because gold is portable. One ounce of gold has almost always had the same 'purchasing power' throughout history.

It is said that in Rome, one ounce of gold would buy a nice toga, a belt and a pair of shoes. Today, an ounce of gold is worth about $1400 so this is relatively accurate. One ounce of gold won't buy you the best suit on the market, but that tiny little one ounce coin packs a purchasing power punch; $1400 in the palm of your hand. A hand bag filled with gold coins, about the same weight as Paris Hilton's dog (say three pounds), would be worth around $70000! Gold is well-suited for travelling or moving abroad because people around the world accept it. And, lastly and perhaps most misunderstood, gold is money because it has intrinsic value, it is extra ordinarily useful in ways that nothing else on earth or the known universe is useful.

Gold, in the form of gold nanoparticles, is used in extremely high technology like space travel and cutting edge cancer treatments. Gold is both the most ductile (one ounce can be pulled into an extremely thin wire 35 miles long!) and most malleable (can be pounded into an extremely thin wafer, so thin that light passes through it - 1 5/1000000 of an inch thin!) element in the known universe. Gold is the second best conductor of heat and electricity next to silver. Paired with gold's rarity, gold's amazing properties make it extremely valuable as money and to the progress of science and technology and ultimately mankind. For now, you can easily make an Investment in Gold, Trade Gold Online, and Save your Wealth in Gold. Just hurry and buy gold now because, as the prices rise, it won't always be this easy! Gold is money, gold is the world’s true money.


"The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat or caprice." ~ Henry Hazlitt

Gold, Silver Now Legal Tender in Utah

The "Utah Legal Tender Act," as the new law is known, “recognizes gold and silver coins that are issued by the federal government as legal tender in the state and exempts the exchange of the coins from certain types of state tax liability,” according to the bill. The law does not force anyone to accept or pay in precious metals, but rather provides the option for those who wish to do so voluntarily.  Read more...

Libyan gold rush followed end to sanctions

Some of the world’s most sophisticated banks and investment firms rushed to do business with Moammar Gaddafi’s government in Libya after the United States rescinded the country’s designation as a state sponsor of terrorism five years ago, according to an internal financial document obtained by The Washington Post.  - The Washington Post