This is a bit dated news (from last week).  I could only get to comment on it only now because I wanted to post this with this graphic. Who would have thunk that a third world dictator could bring Bank of England and the Derivatives King, and the anti-gold cartel leader JP Morgan to their knees. Not to mention destroying some mo-mo hedge funds who are short gold.

First Chavez nationalized all gold mines in Venezuela. The he demanded JP Morgan and Bank of England to deliver his country’s gold back to him. This caused quite a scramble for the physical gold in the last 10 days, which is the reason for gold to hit $1900 last week.

This is the best satire I can come up with for Hugo Chavez’s, rather tactical, assault on the west – without firing a single shot. By his actions, he attacked the fickle fiat monetary system of the West. Chavez 1, the West 0.