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Posts tagged ‘Venezuela’

20 Early Warning Signs That We Are Approaching A Global Economic Meltdown

ubmitted by Michael Snyder of The Economic Collapse blog,

Have you been paying attention to what has been happening in Argentina, Venezuela, Brazil, Ukraine, Turkey and China?  If you are like most Americans, you have not been.  Most Americans don’t seem to really care too much about what is happening in the rest of the world, but they should.  In major cities all over the globe right now, there is looting, violence, shortages of basic supplies, and runs on the banks.  We are not at a “global crisis” stage yet, but things are getting worse with each passing day.  For a while, I have felt that 2014 would turn out to be a major “turning point” for the global economy, and so far that is exactly what it is turning out to be.  The following are 20 early warning signs that we are rapidly approaching a global economic meltdown…

#1 The looting, violence and economic chaos that is happening in Argentina right now is a perfect example of what can happen when you print too much money

For Dominga Kanaza, it wasn’t just the soaring inflation or the weeklong blackouts or even the looting that frayed her nerves.

 

It was all of them combined.

 

At one point last month, the 37-year-old shop owner refused to open the metal shutters protecting her corner grocery in downtown Buenos Aires more than a few inches — just enough to sell soda to passersby on a sweltering summer day.

#2 The value of the Argentine Peso is absolutely collapsing.

#3 Widespread shortages, looting and accelerating inflation are also causing huge problems in Venezuela

Economic mismanagement in Venezuela has reached such a level that it risks inciting a violent popular reaction. Venezuela is experiencing declining export revenues, accelerating inflation and widespread shortages of basic consumer goods. At the same time, the Maduro administration has foreclosed peaceful options for Venezuelans to bring about a change in its current policies.

full article at source: http://www.zerohedge.com/news/2014-01-24/20-early-warning-signs-we-are-approaching-global-economic-meltdown

Don’t Vote for Evil

by Paul Craig Roberts

Back during the George W. Bush neocon regime, President Hugo Chavez of Venezuela in his UN speech summed up George W. Bush for the world. I am quoting Chavez from memory, not verbatim. “Yesterday standing at this same podium was Satan himself, speaking as if he owned the world. You can still smell the sulfur.”

Chavez is one of the American right-wing’s favorite bogyman because Chavez helps the people instead of bleeding them for the rich, which is Washington’s way. While Washington has driven all but the one percent into the ground, Chavez cut poverty in half, doubled university enrollment and provided healthcare and old-age pensions to millions of Venezuelans for the first time.

Little wonder he was elected to a fourth term as president despite the many millions of dollars Washington poured into the election campaign of Chavez’s opponent.

While Washington and the EU preach neoliberalism − the supremacy of capital over labor − South American politicians who reject Washington’s way are being elected and reelected in Venezuela, Ecuador, Brazil, Argentina, Uruguay and Bolivia.

full article at source: http://www.thedailybell.com/28151/Paul-Craig-Roberts-Dont-Vote-for-Evil

Chavez Launches War Against US Dollar

Chávez holds a miniature copy of the 1999 Vene...

Image via Wikipedia

Thursday, August 18, 2011 – by Staff Report
Hugo Chávez

Venezuelan President Hugo Chavez ordered his government to repatriate $11 billion in gold held in banks abroad to safeguard the country from the economic crisis and said he’ll nationalize the local gold industry. Venezuela has about 211 tons of its 365 tons of gold reserves held abroad at institutions including the Bank of England, JP Morgan Chase & Co. (JPM), Barclays Plc (BARC), Standard Chartered Plc (STAN) and the Bank of Nova Scotia (BNS), according to a government document. … Chavez, who has said he wants to eliminate the “dictatorship” of the U.S. dollar, has called on Venezuela’s central bank to diversify its $28.7 billion in reserves away from U.S. institutions. – Bloomberg

Dominant Social Theme: The government knows best how to manage the money supply; Chavez will lead the way.

Free-Market Analysis: Whoa! Hold the US dollar horses, folks… the global reserve currency game just got a whole lot more interesting. There is, in our humble opinion, a whole lot more to this story than just the repatriation of gold being held at foreign central and commercial banks. It is perhaps the biggest story to unfold in the currency markets in many years.

full article at source:http://www.thedailybell.com/2814/Chavez-Launchs-War-Against-US-Dollar

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