A glooming peace this morning with it brings… at least for members of the Colbert Nation. Hugo Chavez, president of Venezuela and “friend of” The Colbert Report, is dead. Stephen Colbert acknowledged the news last night before moving on to an issue that’s just as pressing: Jon Stewart’s upcoming hiatus from The Daily Show. And naturally, these two story nuggets led to a punchline accented by a pretty awesome photo:

But as amusing as the idea of Jon Stewart ruling Venezuela may be, it can’t hold a candle to the interview Colbert later conducted with James Franco. The host started out by asking the Oz star if, like his character in the film, he’s also a fraud — and it only got more amusing from there, culminating in an awesome Tolkien-off that once and forevermore proves that Colbert is late night’s preeminent nerd scholar. Guess that’s one thing Franco can’t add to his overlong resume:

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Oz: The Great and Powerful

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