The political aspects of gold investing doesn't just encompass the fiat-money supply and government deficits. Sometimes, the rawer side of politics impinges. Two exploration companies with projects in Venezuela have had them effectively outlawed by new restrictions passed by the Chavez government. Chavez is evidently edging towards a takeover of the gold industry in that country.
Hope still springs eternal, but the typical mining project can't be put on a plane and shipped out when the political climate turns threatening.