Venezuela moves cash, bullion out of Western states
While Americans continue to slumber, the rest of the world is gearing up for an economic world war by stocking up on economic ammo (gold!). In a story that can be found here, Venezuelan leader Chavez has nationalized his country's gold industry. In addition, in a related story that can be found here, as originally reported by the Wall Street Journal, "The Bank of England recently received a request from the Venezuelan government about transferring the 99 tons of gold Venezuela holds in the bank back to Venezuela."

Little does the average American realize that, while he sleeps, billions of dollars worth of US paper assets such as stocks, bonds and bank accounts are being liquidated by the world in an effort to extract themselves from the damage from the coming economic meltdown. Of course, for every stock or bond that is sold, someone is buying it. Who are the buyers of these worthless securities? YOU!

Joe Middleclass, with his 401ks, IRAs, mutual funds and stock purchase plans at work is continuing to drink the Kool-Aid being sold by the media and the mainstream financial industry. "Just buy and hold," he's told, "the market always comes back."

Of course, that's true, but who has twenty years to wait? In the meantime, you might want to consider following the rest of the world into the safe haven of gold while you still can. And while you wait, the returns ain't too bad either!


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