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Thursday, February 07, 2019

Why the US is interested in Venezuala

The Saker interviews Michael Hudson to learn why the USA is suddenly so interested in Venezuela, of all places:
The Saker: Could you outline the various reforms and changes introduced by Hugo Chavez? What did he do right, and what did he do wrong?

Michael Hudson: Chavez sought to restore a mixed economy to Venezuela, using its government revenue – mainly from oil, of course – to develop infrastructure and domestic spending on health care, education, employment to raise living standards and productivity for his electoral constituency.

What he was unable to do was to clean up the embezzlement and built-in rake-off of income from the oil sector. And he was unable to stem the capital flight of the oligarchy, taking its wealth and moving it abroad – while running away themselves.

This was not “wrong”. It merely takes a long time to change an economy’s disruption – while the U.S. is using sanctions and “dirty tricks” to stop that process.

The Saker: What are, in your opinion, the causes of the current economic crisis in Venezuela – is it primarily due to mistakes by Chavez and Maduro or is the main cause US sabotage, subversion and sanctions?

Michael Hudson: There is no way that Chavez and Maduro could have pursued a pro-Venezuelan policy aimed at achieving economic independence without inciting fury, subversion and sanctions from the United States. American foreign policy remains as focused on oil as it was when it invaded Iraq under Dick Cheney’s regime. U.S. policy is to treat Venezuela as an extension of the U.S. economy, running a trade surplus in oil to spend in the United States or transfer its savings to U.S. banks.

By imposing sanctions that prevent Venezuela from gaining access to its U.S. bank deposits and the assets of its state-owned Citco, the United States is making it impossible for Venezuela to pay its foreign debt. This is forcing it into default, which U.S. diplomats hope to use as an excuse to foreclose on Venezuela’s oil resources and seize its foreign assets much as Paul Singer hedge fund sought to do with Argentina’s foreign assets.

Just as U.S. policy under Kissinger was to make Chile’s “economy scream,” so the U.S. is following the same path against Venezuela. It is using that country as a “demonstration effect” to warn other countries not to act in their self-interest in any way that prevents their economic surplus from being siphoned off by U.S. investors.

The Saker: What in your opinion should Maduro do next (assuming he stays in power and the USA does not overthrow him) to rescue the Venezuelan economy?

Michael Hudson: I cannot think of anything that President Maduro can do that he is not doing. At best, he can seek foreign support – and demonstrate to the world the need for an alternative international financial and economic system.

He already has begun to do this by trying to withdraw Venezuela’s gold from the Bank of England and Federal Reserve. This is turning into “asymmetrical warfare,” threatening to de-sanctify the dollar standard in international finance. The refusal of England and the United States to grant an elected government control of its foreign assets demonstrates to the entire world that U.S. diplomats and courts alone can and will control foreign countries as an extension of U.S. nationalism.

The price of the U.S. economic attack on Venezuela is thus to fracture the global monetary system. Maduro’s defensive move is showing other countries the need to protect themselves from becoming “another Venezuela” by finding a new safe haven and paying agent for their gold, foreign exchange reserves and foreign debt financing, away from the dollar, sterling and euro areas.

The only way that Maduro can fight successfully is on the institutional level, upping the ante to move “outside the box.” His plan – and of course it is a longer-term plan – is to help catalyze a new international economic order independent of the U.S. dollar standard. It will work in the short run only if the United States believes that it can emerge from this fight as an honest financial broker, honest banking system and supporter of democratically elected regimes. The Trump administration is destroying illusion more thoroughly than any anti-imperialist critic or economic rival could do!
In short, Venezuela is another crisis point for US financial imperialism. The inability of Venezuela to take possession of its own gold in London is yet another indication that the neo-liberal world order is increasingly unstable. It's not about the oil, it's about the debt.

It certainly doesn't help that US officials are doing incredibly stupid things, like the Secretary of State calling Juan Guaido "duly-elected" when the man has never even run for President of Venezuela! The two candidates who lost the 2018 election to Nicolás Maduro were Henri Falcón and Javier Bertucci, while Henrique Capriles was the losing candidate in the 2013 election that was also won by Maduro.

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109 Comments:

Blogger Azure Amaranthine February 07, 2019 4:35 PM  

Bankstahz gonna banksta. Oy vey, shut them down.

Blogger S1AL February 07, 2019 4:36 PM  

Venezuela suffers the same fate every socialist system does; response: "Well, you see, it's really the fault of the United States."

Right.

Blogger Daniel February 07, 2019 4:45 PM  

7% of Venezuelan population emigrantes, lots of them to argentina
People are starving. Fuck maduro, i do not want another venezolano here. They are shitty people

Blogger Daniel February 07, 2019 4:47 PM  

This guy is wrong. Venezuela is just another failed comunist latinoamerican shithole
Only fault is Venezuelans, for going after the promised freebies

Blogger Daniel February 07, 2019 4:48 PM  

This

Blogger Meanoldbasterd February 07, 2019 4:50 PM  

Daniel, it's possible that the two aren't mutually exclusive

Blogger Pioneer Spirit February 07, 2019 4:53 PM  

Outside interests taking profits out of the country.

Seems parallel to those trying to create a carbon tax.

Blogger VD February 07, 2019 4:53 PM  

Well, you see, it's really the fault of the United States.

The fact that the state of Venezeula is not the fault of the USA does not mean that the USA is not significantly exacerbating the situation. On what planet do you believe Juan Guaido was elected to the Venezuelan presidency? He never even RAN for it on this one.

It would be like Russia and China suddenly declaring that Nancy Pelosi was the "duly-elected" President of the United States.

Blogger Stg58/Animal Mother February 07, 2019 4:54 PM  

This is bullshit. I've been there multiple times in 2006. They were communists. Drinking the red koolaid, ostracizing and deplatforming anyone who disagreed, cheering on Chavez as he preached socialism and communism.

They had pictures of all of the communist all stars on the walls and above the doors.

For fuck sake they had "ARBEIT MACHT FREI" written on the crude storage tank farms!!

Blogger 1st Earl Hardwicke February 07, 2019 4:54 PM  

Same old story like with Argentina invading the Falklands to distract from economic problems. Or with France & Spain attacking the UK in the 18th Century. So does China end up muscling in completely, setting up pleasure palaces like out of some kind of cheesy 80's sci-fi movie.

Blogger Keyser Soze February 07, 2019 4:57 PM  

When I got divorced, the mediator look at the balance sheet I had prepared and commented “you two are gonna be easy”. Why? Aside from a small mortgage we had no debt. !0! He further commented that people will argue for assets, but battle not to take debt!

Blogger Resident Moron™ February 07, 2019 4:58 PM  

I like the way he accuses US nationalists of doing this to Venezuela.

Really? The US nationalists orchestrated the EU's simultaneous chorus of condemnation for Maduro and sainthood for Guaido?

FFS.

Blogger Azure Amaranthine February 07, 2019 5:00 PM  

"Venezuela suffers the same fate every socialist system does; response: "Well, you see, it's really the fault of the United States.""

Not the United states as a whole. It can be both. Particularly when you realize bankstery groups like the IMF are/were Fabians. Born of it, bred of it, lust for it, feed on it.

Yeah it's not us, but likely is a coalition of their elites and people who (((pose))) as our elites. Hey, I mean, I'm pretty sure at this point that a lot of (((it))) is just a convenient umbrella now used by a bastardized bloodthirsty elite class to deflect criticism.

Blogger S1AL February 07, 2019 5:06 PM  

"The fact that the state of Venezeula is not the fault of the USA does not mean that the USA is not significantly exacerbating the situation."

Hopefully it gets exacerbated enough that we get a repeat of Chile, then, given how that turned out.

"On what planet do you believe Juan Guaido was elected to the Venezuelan presidency? He never even RAN for it on this one."

Who ever claimed he was elected? That's like saying Ford was elected president. Maybe there's some obscure statement out there, but I've never seen anyone meaningful say anything other than "interim".

---

"They had pictures of all of the communist all stars on the walls and above the doors."

Exactly. Hudson lied from the first sentence. Venezuela was/is one of the most absolutely control-economy socialist countries on the planet. Freaking Marxist.

Blogger doctrev February 07, 2019 5:07 PM  

Who is Michael Hudson, and why should I give a shit? Independent economist? All right, let's see what he's got.

Capital flight from Venezuela? What capital, ese? The capital of the country- its oil fields producing its primary export- have been running increasingly poorly for years. And you can't put that entirely on the US, unless Russia and China have zero technical experts to work in Venezuela. Hudson's plan for Venezuela to help set up a completely new system of international finance and build up national agriculture? Absolutely insane! Right now Maduro's focus is on surviving the year at all. I guess those hugely inflated vote totals didn't reflect what Venezuelans actually wanted. L O L doesn't begin to cover it.

Look, I get that Saker probably gets a pay cut if his inept paymasters don't like his enthusiasm, but seriously. Venezuela is falling apart, and a moderately competent government could have made the alliances and medium-term refinery investments necessary to at least stay solvent. Now we're supposed to love Third World campesinos squatting in Miraflores Palace, just because Russia desperately needs to not lose all of its poorly made investments?

I want the US to cast off its traitor elites as much as the next guy, but these incompetents are only going to fail hilariously.

Blogger Jim the Curmudgeon February 07, 2019 5:08 PM  

I think Hudson is missing something here. Why would we see a bunch of discredited Neocons like Bolton and Abrams suddenly reappear like vampires to deal with a socialist country that is imploding? It is because of deep heartfelt sympathy for poor people? Oil? Gold?

Two rather obvious factors overlooked by Hudson are Iran and Hezbollah. Shiite Islam. Left wing Politico had a rather interesting story a short while back about how deeply those two entities are enmeshed into Venezuela:

https://www.politico.com/interactives/2017/obama-hezbollah-drug-trafficking-investigation/

Neocons care primarily about Israel, not oil. Leaving out the Israeli angle in this matter is foolish, as a result. Sure, oil may be the driving factor, but to fail to notice that Venezuela figures rather largely in the income stream for a Lebanese based militia that beat the IDF in Israel's last invasion is a little negligent, if not suspicious. We know Israel is building an anti-Shiite coalition in the Middle East, hence the PR that is covering up the war in Yemen.

Maybe its nothing, but it sure worth talking about given the obvious loyalties of the neocons. Who benefits from controlling Venezuela?

Blogger One Deplorable DT February 07, 2019 5:11 PM  

@8 - The fact that the state of Venezeula is not the fault of the USA does not mean that the USA is not significantly exacerbating the situation.

Exactly. Those people got themselves into a communist mess. It's the #1 reason for their plight and we have no duty to save them from it when we're struggling at home.

But at the same time we should not try to make it worse for them.

Blogger Cloom February 07, 2019 5:11 PM  

Why should we believe Maduro is not at the centre of the functioning of the nationalized oil company PdVSA? Michael Hudson is saying Maduro has no control over the embezzlement: "What he [Maduro] was unable to do was to clean up the embezzlement and built-in rake-off of income from the oil sector".

Meanwhile USA is framing USA's actions as preventing the oil revenue theft, which Michael Hudson agrees is happening and Maduro failed to prevent:

https://www.dailymail.co.uk/news/article-6641747/Trump-administration-slaps-sanctions-state-owned-oil-company-Venezuela.html

Blogger Stg58/Animal Mother February 07, 2019 5:13 PM  

The more I read what Hudson and Saker are saying, the more exasperating it is.

Chavez and Maduro were rolling full speed towards a worker's paradise. They nationalized the refineries, using the same bullshit excuses every Communist does "ahoro PDVSA es todos somos". They went through the voting rolls and fired every PDVSA employee that didn't vote for Chavez and fired them.

So your upper middle class intellectual people that actually make everything work are gone. And their replacements are selected for chemical engineering jobs on the basis of party loyalty. Let me know how that works out.

Blogger doctrev February 07, 2019 5:15 PM  

Cloom wrote:Why should we believe Maduro is not at the centre of the functioning of the nationalized oil company PdVSA? Michael Hudson is saying Maduro has no control over the embezzlement: "What he [Maduro] was unable to do was to clean up the embezzlement and built-in rake-off of income from the oil sector".


A pig doesn't clean its own trough, but at least farmers aren't surprised by it. Maduro and his family obviously benefit from the corruption, just like all Third World kleptocrats, and their primary concern right now is getting some of that money so they can live like kings in exile.

Blogger Stg58/Animal Mother February 07, 2019 5:16 PM  

If Maduro isn't embezzling, who is? And why would Maduro accept embezzlement without stopping it or joining in?

Blogger Danelle Blackman February 07, 2019 5:17 PM  

doctrev wrote:Third World kleptocrats

All countries are ruled by kleptocrats, whether first world or third world.

Blogger S1AL February 07, 2019 5:19 PM  

"Yeah it's not us, but likely is a coalition of their elites and people who (((pose))) as our elites. Hey, I mean, I'm pretty sure at this point that a lot of (((it))) is just a convenient umbrella now used by a bastardized bloodthirsty elite class to deflect criticism."

Alright, look, explain to me how you can obsess so much over (((them))), but take at gave value an article written for a publication owned by a pro-replacement-immigration, anti-white, California-dwelling neocon Jew. How, precisely, do you square that circle?

Hint: Unz isn't on "our" side. His politics most closely align with Soros.

Blogger L February 07, 2019 5:23 PM  

"...under Dick Cheney's regime". The sentiment may be true but saying it drops his credibility. I wish people wouldn't say things like that in serious interviews.

Blogger FUBARwest February 07, 2019 5:24 PM  

US is probably up to its shenanigans but that's 100% BS that Chavez attempted to "diversify" the economy and rely on other revenue streams than oil.

Blogger tuberman February 07, 2019 5:30 PM  

Well, Q said, "Gold will bring down the Fed," and this may not mean a gold standard. There are many levels to the games played, and PDJT knows exactly what Guaido is and is not. Saker simplifies this too much, as some have said. The major banks, the Fed, and the petro dollar are scheduled to go anyway -- necessary.

Blogger Steve February 07, 2019 5:31 PM  

Chavez sought to restore a mixed economy to Venezuela, using its government revenue – mainly from oil, of course – to develop infrastructure and domestic spending on health care, education, employment to raise living standards and productivity for his electoral constituency.

Very cool! But haven't we heard this one before from every kleptomanic tinpot dictator in Latin America? I've yet to see one promise to lower living standards.

What he was unable to do was to clean up the embezzlement and built-in rake-off of income from the oil sector. And he was unable to stem the capital flight of the oligarchy, taking its wealth and moving it abroad – while running away themselves.

Did they steal the oil out of the ground? No? Then how come, after 20 years of Chavism, two full decades of the socialists being very much in control of the means of production, Venezuela is an infinitely worse shithole than it was before?

Because some rich people ran away? Hard to believe that excuse. You'd expect capital flight to be a one-off hit, offset by those productivity gains Chavez promised, plus the many billions in foreign investment they've accepted from China and Russia.

Because of corruption in the oil industry? It definitely is corrupt, seeing as the Venezuelan oil sector has been state-owned since 1976.

This was not “wrong”. It merely takes a long time to change an economy’s disruption

If your economic policy has nothing to show for it except widespread malnutrition and millions of refugees after 20 years, maybe it's not a good policy. Maybe people don't want to see their kids turn into emaciated dwarfs in the hope of a better tomorrow in just two or three short decades hence.

while the U.S. is using sanctions and “dirty tricks” to stop that process.

US sanctions started just a week ago, but are supposedly stopping the Glorious People's Bolivarian Revolution from finally delivering on those health care and living standards promises it made a measly twenty years ago. Bad Yanquis!

Michael Hudson sounds like Eric Hobsbawm and any number of other tankie apologists, when common sense suggests that the reason Venezuela is teetering on the brink of famine and civil war is because of their own retarded socialist leadership - not those dang dirty neocons.

Blogger doctrev February 07, 2019 5:33 PM  

Danelle Blackman wrote:

All countries are ruled by kleptocrats, whether first world or third world.


At least American ones used to be functionally competent. And it's not even true at the moment- President Trump is the only one ethical enough to accept -losing- a billion dollars of wealth in exchange for the Presidency. I really admire that kind of integrity.

As a general rule, though, you're too right.

Blogger Fozzy Bear February 07, 2019 5:35 PM  

It’s hard to take this Hudson seriously when he opens with “Chavez sought to restore a mixed economy to Venezuela”. He must be waaaaay over to the left to not only believe Chavez was a centrist, but to expect his listeners not to erupt in laughter.

Blogger Danelle Blackman February 07, 2019 5:39 PM  

Steve wrote:Michael Hudson sounds like Eric Hobsbawm and any number of other tankie apologists, when common sense suggests that the reason Venezuela is teetering on the brink of famine and civil war is because of their own retarded socialist leadership - not those dang dirty neocons.
Is this really an either-or situation?

The marginally competent socialists who rule the US have been engaged in a turf war with the retarded socialists in Latin America for decades. Smedley Butler called it out all the way back in the beginning of the twentieth century.

Blogger August February 07, 2019 5:40 PM  

Debts not denominated in your own currency is a big problem. I listened to some podcast somehow vaguely connected to Steve Keene. He wasn't in it, but there were some barely sufferable progressive economist who managed to make a cogent point or two. They mentioned that the recent examples of hyperinflation came from countries that had borrowed from other countries.
This causes weakeness, as did the inability to come to a decent agreement with the Venezuelan elite. I have no doubt American sanctions did not help, and wish we'd stop doing that sort of thing, but Chavez and Maduro really screwed things up. Russia has managed to keep it together despite various sanctions.

Blogger Danelle Blackman February 07, 2019 5:48 PM  

August wrote:I have no doubt American sanctions did not help
Sanctions are the penultimate form of intervention, right before invasion. By the time you see them most of the work is already done.

The real damage is done years of infiltration and subversion, ranging from bribing politicians up to fomenting color revolutions.

One of their favorite tricks is to generate an astroturf revolution, wait for the government to respond to it, then use that response to justify the sanctions and invasion.

The US government has legions of psychopaths on their payroll who specialize in exactly this kind of work.

Blogger The Greay Man February 07, 2019 5:56 PM  

Vox, your opinion is very anti-US policy when a couple weeks ago on the Darkstream you sounded like it wouldn't matter because Venezuela is a powderkeg ready to explode.

I bolded the above because I am catching up on the Darkstreams and around January 22-25th or so, you did not seem nearly as concerned about the situation as you do now.

For some reason, taking the anti-US approach to this specific crisis seems odd. I am not saying you are wrong, but you have not convinced many of us that Venezuela is nothing more than a heap of burning trash that Trump is lightly trying to put out.

I don't like replacing the leader, I am not saying we should, but Trump has not been bad at foreign policy yet and he is taking a stance against the Russians and Chinese - former Communist nations, you know.

I am with many of the other Dread Ilk who are a little more hesitant to jump on the anti-Western-globalist train as we usually are.

This may actually be different. It may not, and you may be right, but your statements so far and this article you linked to are not convincing us yet.

If you are right, convince us -- you've done it many times.

Blogger Damn the torpedos February 07, 2019 5:58 PM  

Withholding a nations wealth in order to starve its people?

I’d say this is a new low but the learned elders of the (((neo liberal world order))) have done this before https://youtu.be/RM0uvgHKZe8

Blogger Johnny February 07, 2019 5:58 PM  

I vote a hundred percent rubbish on this analysis. Of course you get capital flight when you seize assets.

Chavez bought support from the lower classes with extensive handout programs funded by oil sales, much of the oil sold to the United States. We are the ones with the oil refineries that can handle their heavy oil. Oil prices were up, he had a lot of money to play with, and set aside nothing for a rainy day. And almost nothing has been spent on infrastructure. Currently they have electrical blackouts here there and everywhere because the aging electrical system has not been kept up.

In implementing his socialist schemes, Chavez also redistributed income from the rich to the poor, sort of but not exactly. He made it unprofitable to run an enterprise, thus the whole time he was in power domestic production went down. That made the country progressively more dependent on oil revenues that were artificially high. Thus when the price of oil went down there was both less money for handouts and less domestic production to fall back on.

And less oil production because money that should have gone into sustaining production was used by Chavez to sustain his various spending programs, which did include trying to undermine the United States. But it was done at the expense of the Venezuelan people. And apparently this is still going on (I think). Hey, imperialism is a use of funds, not a source of funds. Like us, his imperialism abroad is an expense, not a gain.

And I imagine Latin corruption is part of his problem. We are to blame for that, are we?

And now their slowly sinking ship of state has an inept captain who is aggravating the problem with his ineptness. That would be Maduro.


Blogger dienw February 07, 2019 6:09 PM  

S1AL wrote:Venezuela suffers the same fate every socialist system does; response: "Well, you see, it's really the fault of the United States."

Right.


And you think we are a capitalist system?
It is crony-capitalism for the oligarchs and socialism to control us the peasants; free enterprise is a thing of the past for us peasants.

Blogger VFM #7634 February 07, 2019 6:09 PM  

I will argue that a country has a justification for intervening in another if it's getting a flood of migrants from the other country due to that country's mismanaging the economy. So therefore, I'd say Colombia, Brazil, and the other South Americans do have justification for invading and tossing out Maduro, but the United States does not. At least not yet.

Blogger Achilles February 07, 2019 6:12 PM  

It's not about the oil, it's about the (((debt))).

Hasn't it always been that way with a particular tribe? I bet they got run out of Egypt for usury and degeneracy. Guaido is a CIA-backed puppet. I don't care if Chavez and Maduro were brutal communist dictators. Why are we messing with their economy and why are preparing to invade? More (((Neocon))) warmongering.

Blogger Jay Will February 07, 2019 6:14 PM  

This comment has been removed by the author.

Blogger Lance E February 07, 2019 6:18 PM  

I'm still in favor of Westphalian sovereignty. No matter how badly the Venezuelans are fucking up their country, it's not America's job or any other country's job to interfere, unless that country is being directly harmed.

I am also thoroughly fed up with the creeping Marxism on Unz and especially from bloggers like Saker. The US should not interfere with Venezuela, but claiming that Venezuela's failure is because of American interference has been a standard Communist refrain for many years, and is absolutely, totally, 100% batshit crazy.

Blogger Azure Amaranthine February 07, 2019 6:28 PM  

"Alright, look, explain to me how you can obsess so much over (((them))), but take at gave value an article written for a publication owned by a pro-replacement-immigration, anti-white, California-dwelling neocon Jew. How, precisely, do you square that circle?"

Obsess? Hardly. I don't take the article at face value either. I'm only pointing out certain tendencies and that it's awfully hard to prove that known propagators of communism/socialism have nothing to do with financial looting.

Obviously it's not fair to label the USA as a whole as being at fault, but our likely collaborators in conjunction with our useless idiots aren't really positioning us in the rosy lights in that regard.

Blogger Nate February 07, 2019 6:31 PM  

The problems there are not hard to grasp boys. You can have a commie country if you have enough oil. I mean look at Qatar.

The problem is... a while back the OPEC boys decided to try to murder the US oil business. They thought if they opened up the spicket wide open it would drive the prices down so low that the US companies could not compete. And eventually the companies would dwindle.

Unfortunately for them the US oil industry is comprised of a bunch of hardass roughnecks... and they did what they do. They buckled their chin straps and commenced to kicking ass. And boom. now we're an oil exporter.

Well there is a side story here. Venezuela was not able to compete at that level... and with oil that cheap... it basically destroyed their commie economy. Prices are back up no but it doesn't matter. its to late.

so that's how we got here. Wanna blame someone? Blame OPEC.

Blogger The Greay Man February 07, 2019 6:31 PM  

The USA should always be in control of the Western hemisphere - too bad we are not as powerful as we should have been, but I am going to trust Trump.

We know Bolton is a joke -- Trump knows EXACTLY what he is doing with things like this:

https://www.washingtonpost.com/politics/trump-and-his-aides-offer-the-public-a-glimpse-of-their-private-notes--no-matter-how-revealing/2019/01/29/f326e532-23e2-11e9-ad53-824486280311_story.html?noredirect=on&utm_term=.f9fff5bef6ee

Blogger Lovekraft February 07, 2019 6:39 PM  

Wonder how this plays regarding China, who would likely see SA as resource- and land-rich. If it's a matter of who gets to be 'the landlord', first option would to allow an independent Venezuela (providing it adopts Northern Hemispheric standards. Next would be the region, then perhaps the US. Russia and China seem to be serving as a check against US stepping ahead of the line.

Blogger Don't Call Me Len February 07, 2019 6:45 PM  

This is turning into “asymmetrical warfare,” threatening to de-sanctify the dollar standard in international finance.

Yes, it was a bold and brilliant "strategy", not a desperate attempt to empty their savings account in a last ditch failure to cover their asses.


His plan – and of course it is a longer-term plan – is to help catalyze a new international economic order independent of the U.S. dollar standard.

Complete and utter fantasy. He's just another tinpot dictator flailing about to save himself from the failed state he's created.

It is amazing how often these small countries, who just want to be left alone to be the happy, fun, super productive paradises they truly could be, are always "forced" into debt by the big meanies in America.

Blogger Latigo3 February 07, 2019 6:46 PM  

So, it appears that we are acting like thugs.

Blogger S1AL February 07, 2019 6:47 PM  

"Unfortunately for them the US oil industry is comprised of a bunch of hardass roughnecks... and they did what they do. They buckled their chin straps and commenced to kicking ass. And boom. now we're an oil exporter."

Recent comment* from a Bolivian guy I talk to on occasion: "Latins are lazy, and nobody works when life is easy. My country is a beautiful place with incredible resources, but nobody has to work so nobody does."

*I'm paraphrasing a bit, but that's the basic gist.

Blogger Lovekraft February 07, 2019 6:49 PM  

There has been a destructive merging of Northern and Southern hemispheric ideals. I don't identify with the southern and I don't expect them to share my history.

We are getting swamped by the dark south, while in return they ignore our own conditions.

Blogger Thought Criminal February 07, 2019 6:52 PM  

I was thinking that Vox had been drinking heavily when he posted this piece of dreck, but now I'm leaning more to the idea that he is just trolling us to get some laughs.

Blogger LZ February 07, 2019 6:54 PM  

Libertarian and RW economists forecast this implosion at the outset of Chavez. This is a predictable collapse from implementing full Socialism. Venezuela nationalized foreign-owned assets, they got sued in US courts and the bank assets were frozen. Up until the recent nonsense with Trump, it's been a totally self-induced episode of retarded politics and all the American leftists are rushing to defend their stupid ideology. Abandon Venezuela and it's neighbors will eventually invade and conquer. Or let China be the ad guy defending a regime that starved it's s opeople.

Blogger GM February 07, 2019 6:55 PM  

August wrote:Debts not denominated in your own currency is a big problem. I listened to some podcast somehow vaguely connected to Steve Keene. He wasn't in it, but there were some barely sufferable progressive economist who managed to make a cogent point or two.


Probably New Economic Perspectives, or some of the MMT guys, right? Their philosophical/moral framework - and hence their practical program - is leftist, but they get the relationship between nominal and real correct. This is why some of them can find crossover with the Austrians, as Keen does with Schumpeter.

Blogger David The Good February 07, 2019 6:57 PM  

"Recent comment* from a Bolivian guy I talk to on occasion: "Latins are lazy, and nobody works when life is easy. My country is a beautiful place with incredible resources, but nobody has to work so nobody does."

When food literally falls from the trees in piles by the sides of the highway, and fish and game are everywhere, and you can pick up conch, lobster and crabs by the bucketful in the ocean, it's hard to care about tomorrow.

Blogger EasyCompany February 07, 2019 6:58 PM  

Michael Hudson, useful idiot soon to become useless idiot.

Blogger David The Good February 07, 2019 6:59 PM  

As usual, it's the cities which are the real trouble. They are hives of crime and can't take care of themselves. People get drawn in for jobs and end up enslaved, whereas they'd be much happier, healthier and even richer with next to no money living on a piece of land in the country where they can grow food and forage.

Blogger NO GOOGLES February 07, 2019 7:00 PM  

Yeah it's nice for him to gloss over the responsibility the Venezuelans have for their predicament in one whole sentence so he can get to his obligatory "socialism doesn't work because the USA is mean".

Is the USA doing stupid things when it comes to Venezuela? Absolutely. Are we the main cause of their problems? No. Chavez looted the country and its one productive industry for a decade and a half while refusing to invest the necessary capital to maintain their oil industry. Declining productivity + cash strapped due to falling oil prices = death spiral.

No mention of Chavez personally looting at least 4 billion dollars himself (who knows how much for his other cronies). No mention of the things Venezuela did that are deserving of sanctions (stealing property of US/EU companies - eg Repsol/GM).

The USA is making Venezuela's situation worse (and that's mostly stupid of us) but we are not the boogeyman here. They dug their own grave, laid in it, and are now heaping dirt on top of themselves. We're just tossing a few handfuls on top.

Blogger Stg58/Animal Mother February 07, 2019 7:01 PM  

Yes. Vox has to be trolling us.

Blogger LZ February 07, 2019 7:02 PM  

America should be helping Venezuela by sending it's own communists to live there. I'm in favor of letting them take their money and severing all ties completely. Let them sink like a stone as they surely will.

Blogger Tatooine Sharpshooters' Club February 07, 2019 7:04 PM  

What we have here from Hudson is, no surprise, the usual tankitastic argument that women/PoC/turd world disasters are all really pure and good and smart and strong and just all around awesome until . . . the evil males/whites/US come happy assholing along and magically renders them impotent, incapable, inactivity, and, most importantly, irresponsible in any way for the state in which they find themselves.

Which leads directly to the unassailable conclusion: you're bad and you owe them, forever and ever, amen.

Blogger Original H February 07, 2019 7:05 PM  

This comment has been removed by the author.

Blogger Original H February 07, 2019 7:07 PM  

S1AL wrote:VD: "On what planet do you believe Juan Guaido was elected to the Venezuelan presidency? He never even RAN for it on this one."

Who ever claimed he was elected? That's like saying Ford was elected president.


US Secretary of State Mike Pompeo did: https://youtu.be/EoHXWdwgH2c?t=484

Blogger tz February 07, 2019 7:20 PM  

The Chinese are teaching the rest of Asia and Africa via their "Student loans" for large infrasructure projects. And when they default...

Chavez/Maduro erred in being in debt and not killing the globalist anaconda before attempting to stop feeding it.

Yet they were also evil, and I'm not sure they were the lesser evil. "Never smile at a crocodile". And the Spider's parlor is lined with very soft silk, for frequent flyer lounge usage. The Web of trust.

Blogger S1AL February 07, 2019 7:25 PM  

"US Secretary of State Mike Pompeo did: https://youtu.be/EoHXWdwgH2c?t=484"

Fair enough, that's... Deceptive, at best. Guaído was elected to some sort of position within the assembly itself, but that's completely different. Way to muddy the waters, guys.

Blogger VFM #7634 February 07, 2019 7:30 PM  

"When food literally falls from the trees in piles by the sides of the highway, and fish and game are everywhere, and you can pick up conch, lobster and crabs by the bucketful in the ocean, it's hard to care about tomorrow."

Yeah, it would appear that winter is required to produce a civilization-level IQ.

Blogger Ingot9455 February 07, 2019 7:32 PM  

If you believe Q and the various Anons, the US has been pulling all kinds of crap in Venezuela - mostly it would have been under Obama. W mostly kept them under thumb and it would be Derp State actions under him.

That being said, foreign companies own refineries, and when you nationalize them, they take their people out, and pretty soon you don't have a refinery, and they don't sell you new parts nor do they upgrade your software. And glory be that's what happened.

In the kindest analysis, sure, Chavez didn't like the cut he was getting from foreign companies and governments for his country's oil. He didn't like the lack of control. Maybe he was right and they were taking too much, whatever 'too much' is.

But when you steal from people and punish the people with the expertise that you are using too much, this is what happens.

Blogger Simon February 07, 2019 7:32 PM  

We'd all live a lot easier if the US became isolationist and stopped interfering where they are not invited. The Venezuelan people could easily sort out their own lives without the armed enforcers of US oil companies getting involved.

Blogger JohnG February 07, 2019 7:44 PM  

Saker? Holy cow. Chavez/Maduro do what all the Marxist clowns do down there (including get rich, Chavez' daughter is a $billionaire), fortunately for him he got the guns away and the people that are left in the country are too famished to fight. It seems you could say our foreign policy is garbage without trying to put lipstick on pigs. There was some wailing and gnashing of teeth (including Saker) because Bolton had some note about 5,000 troops... we were planning 140K for Syria, a country on the ropes at the time... 5,000 people including a basic logistics package to feed people past the 72 hours of materials they can carry (meaning it wouldn't be 5,000 trigger pullers)is not happening. We don't have 140,000 troops to send anywhere, if we do, we're breaking the "all volunteer" military. And nobody is going to authorize a draft for Venezuela (not that anybody would want one with the plague of snowflakes we have now).

Blogger heyjames4 February 07, 2019 7:46 PM  

From Nixon closing the gold window in 72, to the S&L in 87, to dot-com in 01, to subprime mortgages in 08, everything bad in America these past decades has just been the bankers in London and Wall Street doing to Americans what they've been doing on other continents since Waterloo.

Blogger maniacprovost February 07, 2019 7:51 PM  

Vox Day: *posts an article from a different point of view and makes an observation*

Ilk: Vox is trolling us!

Blogger justaguy February 07, 2019 7:54 PM  

Who remembers when the military overthrew Chavez in 2002 after some general strikes and wholly unconstitutional power seizures? This was when Bush with Powell pushed them down and restored Chavez? It seems this really doomed the people who had done a Pinochet and freed themselves. Everything from there is in part due to Bush/Powell idiocy. Military only had one chance... should have shot him and told US where to go but....

Blogger Sammi Hass February 07, 2019 8:10 PM  

>The problem is... a while back the OPEC boys decided to try to murder the US oil business. They thought if they opened up the spicket wide open it would drive the prices down so low that the US companies could not compete. And eventually the companies would dwindle.

Such is the state of Canada,and its economic engine Alberta. We are dead in the water, in a landlocked province and cannot get our plentiful, clean, blood-free oil to market.

Blogger Cecil Henry February 07, 2019 8:17 PM  

I expect the economic hitman to arrive in Venezuela sometime this year.


One crime (Socialism) will wash another (international capitalism).

Blogger Johnny February 07, 2019 8:38 PM  

The two worst kinds of government are the expansionist/war monger right winger, and just about any hard left government. They pretty much all suck.

And there does seem to be a climate thing. Southerners are spend thrifts, northerners tightwads. And it shows up in child rearing. If you are from the equator, pop them out and don't worry about it. Siberia? Then the women damn well have a man or the kid will never make it.

One way of thinking about it is that our social welfare state favors those who breed regardless, and so eventually we will get that kind of population.

Blogger Northpal February 07, 2019 8:39 PM  

Chavez knew that ExxonMobil,ConocoPhilips and many others would eventually prevail before the World Bank’s arbitration panel and win roughly $100 billion in compensation. If Chavistas balk at paying its debts, court orders could be secured to seize Venezuela’s only real asset under American and European control—the gold in their vaults.

Chavistas continue to try moving the country's gold to continue to cheat American and European shareholders out of their just compensation for their looted lands, plants, and oil fields as well as to continue to punish the Venezuelan people with their miserable misrule.

Blogger Lovekraft February 07, 2019 8:49 PM  

@54 DavidtheGood:4

funny you mentioned the situation in cities. heartiste has an article today on whether the collapse should be sooner rather than later, and Venezuela could provide some real-time exposition on how things would play out.

Blogger HoosierHillbilly February 07, 2019 8:57 PM  

@73 Go Team Globalists! Don't worry international corporations, just wait for the "World Bank" to sweep in and set things back to order.

"their just compensation for their looted lands, plants, and oil fields". Time to think carefully on just who "their" is referring to in that sentence.

Blogger Ominous Cowherd February 07, 2019 9:10 PM  

Sammi Hass wrote:Such is the state of Canada,and its economic engine Alberta. We are dead in the water, in a landlocked province and cannot get our plentiful, clean, blood-free oil to market.

You Canuks in Alberta and points west need to abandon Ottowa and team up with Alaska. The US isn't going to hold together forever, and odds are Canada won't either.

Blogger Silly but True February 07, 2019 9:26 PM  

+1 for Bolton being angry he can’t yet McCain a bom-bom-bom, bom-bom-Iran.

So he’s seeking next best thing: meddle with proxy Venezuela.

Blogger Sammi Hass February 07, 2019 9:36 PM  

Ominous Coward, yeah something like that's the plan. We still have a lot of resentment for our good boys dying en masse in Europe for Ottawa and England and nothing to show for it. Political carpetbagging just opens those old wounds. We already have a name for our bloc of AB, SK, MB: New West Republic. Some are organizing political parties or writing constitutions.

But Alberta right now is a great case study on the failures of Social Democrat programming (read Socialist Internationale). To flesh it out for people not in the know, Canada should be able to exploit the market like America can because our oil (and coal) products are similar. Hell, we call Alberta Northern Texas. But with Trudy and our AB Premier Notley colluding to undermine the nation we are unable to compete.
Quick run down:
1. We have a carbon tax on fuel in AB since 2017. Obviously bad.
2. We reviewed oil royalties in AB, what year I forget, and it scared away a lot of business.
3. Then we also have activist judges that sink pipelines in court federally.
4. We also nationalized a pipeline that isn't even finished and are just sitting on it.
5. Meanwhile, we are losing disposable cash quickly on the micro scale and being penny pinched to subsidize loser migrants and loser fake refugees. Very few jobs added YoY. Most in the public sector.
6. Our schools are full of teh gay (yea worse than theatre school), and
7. the teachers professional association don't seem to read their governing legislation (right to parental informed consent begins the Education and School Acts).

Blogger SirHamster February 07, 2019 10:15 PM  

maniacprovost wrote:Vox Day: *posts an article from a different point of view and makes an observation*

Ilk: Vox is trolling us!


Looking at the thread, he is by definition, but that doesn't mean it's intentional.

Sometimes you just gotta identify and file off the triggers.

Blogger Sammi Hass February 07, 2019 10:25 PM  

Someone brought up the awesome book Popular Delusions by Charles MacKay the other day. Is oil like another South Sea bubble? Are we living in a popular delusion about our currency? I mean, it's rhetorical but to what extent are different age cohorts aware of it? I don't remember the gas crises but do the boom before 2008.

Blogger Ominous Cowherd February 07, 2019 10:35 PM  

On second thought, Sammi, keep your poz over there. Sorry. Canuks are too nice to make good neighbors, anyway.

Blogger Doktor Jeep February 07, 2019 10:42 PM  

And the worst thing: hundreds of thousands of them will come flocking to Amedica.
And what are they going to do the minute they get a voter registration card? They won't be caring about Hispanic unemployment at historical lows.

Blogger J Van Stry February 07, 2019 10:53 PM  

I used to work for a man who was a refugee from Venezuela. He would definitely take issue with the beginning of this interview.

According to him, Chavez came into power by having the tens of thousands of cuban 'workers' who were visiting the country take part in the elections (sound familiar) and then of course did everything he could to put his people in power while making himself rich in the process.

All on the backs of the hardworking folks, the smartest if which fled when they got the chance.

The current policy does seem stupid, but then again, no matter WHAT we do, the dictator of Venezuela always claims that we're attacking them. Which is a common tactic: Claim to be under attack by an outsider to rally the people behind you.

Blogger JaimeInTexas February 07, 2019 11:03 PM  

Instances of Use of United States Armed Forces Abroad, 1798-2018

Congressional Research Service Summary

This report lists hundreds of instances in which the United States has used its Armed Forces abroad in situations of military conflict or potential conflict or for other than normal peacetime purposes.

https://fas.org/sgp/crs/natsec/R42738.pdf

Blogger JaimeInTexas February 07, 2019 11:11 PM  

Santayana said that those who are ignorant of history are doomed to repeat it. IMO, he meant that the ignorant would not even know they are repeating previous mistakes.
For the historical literate, we can only shake our heads and remember how knowledge is sweet tasting like honey but later is bitter in the stomach.
Well, at least, there is too much damned historical rhyming.

Blogger CynicalMan February 07, 2019 11:14 PM  

Duly elected is wrong he was constitutionally appointed. Something the Venezuelan Constitution allows for.

Blogger Paul M February 08, 2019 1:49 AM  

As every gold and silver bug knows: if you can't take delivery, you haven't bought it.

Blogger Arthur Isaac February 08, 2019 2:02 AM  

I'm willing to go red to kick the corporatist globalist elites asses out of my country. Eating tree bark isn't that bad.

Blogger Harambe February 08, 2019 2:46 AM  

Arthur Isaac wrote:I'm willing to go red to kick the corporatist globalist elites asses out of my country. Eating tree bark isn't that bad.

Surprisingly, the first part is more dangerous to your health than the second. Just ask every dead head of state who tried.

Blogger Arthur Isaac February 08, 2019 2:50 AM  

Surprisingly, the first part is more dangerous to your health than the second. Just ask every dead head of state who tried.

I don't have near that type of ambition.

Blogger InformationMerchant February 08, 2019 4:15 AM  

The Germans had trouble getting their gold back from the USA too. (https://youtu.be/gZcRk7UClO4 - sub 20 minute Molyneux video linking multiple sources.)

Blogger Matamoros February 08, 2019 5:20 AM  

Democracy only lasts until the underclass realizes they can vote themselves the goodies. That is what has happened to Venezuela - and what is happening in the U.S., though we still have too large of a productive class to destroy us quickly.

Blogger Ingot9455 February 08, 2019 10:43 AM  

Another amusing but that I have read is that the foreign companies who run refineries in shithole countries are now well aware of the likelihood that their materials will be 'nationalized.' They do their best to use software controls that they can lock or turn off, plus special parts that only they can make so that the shithole governments have to come to them.
The Russian engineers can get around it some, but eventually it goes the way of all flesh.

Blogger Tars Tarkusz February 08, 2019 11:28 AM  

I read an article years ago which said Chaves used the state oil company as a way to put his buddies on the dole. That he got rid of the people who understood oil production and how to run an oil company and replaced them with politicians and people with no experience or expertise in oil.

Venezuela's oil riches are vastly overstated. Venezuela does not have a lot of oil, what they have is extremely heavy and sour tar-sands. It is too expensive to produce and there is no refining capacity for this stuff.

I think there is some scapegoating going on here. America is probably making it worse than it would otherwise be, but the Venezuelans are perfectly capable of screwing their country up all by themselves.

Blogger Francis Parker Yockey February 08, 2019 1:36 PM  

@2
Venezuela suffers the same fate every socialist system does; response: "Well, you see, it's really the fault of the United States."

Sure, brown people + socialism = economic failure. But the ZOG sanctions certainly don't help. And it's indisputable that the Fed and the City of London have effectively confiscated Venezuela's gold reserves.

The only important issue here should be "What can we do to prevent a flood of 'Venezuelan' refugees invading the US?" Because the neocon plan is obviously to pull a repeat of the 2015 "Syrian refugee" invasion of Europe.

The Saker interviews Michael Hudson to learn why the USA is suddenly so interested in Venezuela, of all places

The ramp up to full-on regime change mode seems sudden, but the overall policy is longstanding -- probably has a lot to do with Venezuela's ties to Iran. "Muh socialism!" is clearly just an excuse -- they're not going after countries like Cuba in anything like the same manner.

(((Elliott Abrams))), the recently-appointed special envoy for regime change in Venezuela, was also a major planner for the US-backed coup attempt against Chavez in 2002. Perhaps the timing is simply because they're winding up the neocon failure in Syria, and moving on to the next target?

Blogger Francis Parker Yockey February 08, 2019 2:40 PM  

@23
Hint: Unz isn't on "our" side. His politics most closely align with Soros.

Well, not quite with Soros -- but it's a valid point nonetheless.

To be fair to Unz, he does publish a pretty wide range of stuff, and you can't necessarily assume that a particular piece reflects his own views. That said, there's no question that he's a strong supporter of the non-white invasion -- he just thinks that the Tribe should be a little more subtle, and boil the frog more slowly. Just look at his opposition to Prop 187, and his continued promotion of the "Mestizos are good for America!" trope, all the effort he puts into minimizing Mexican crime, his claims that increased non-white immigration post-1965 had nothing to do with the Hart-Celler Act, but was due to population pressure in Mexico...

This piece is interesting because it appears to be coming from a strongly pro-commie, anti-American viewpoint -- yet it "just happens" to promote a narrative that serves the neocons' interests. Let's take a look at the way the article frames the issue with respect to Venezuela:
1. The entire problem is due to muh American imperialism, and Communism/ corruption are not contributing factors.
2. Oil, money, and neoliberalism are the important issues to focus on. Neocons? Israel? Iran? Nope. To further quantify that:
A quick search of the original piece on unz.com shows "oil" = 30 hits in the piece itself, plus an "oil" tag.
Effective conditioning requires repetition.
"Israel?" Zero hits.
"Neocon?" Zero hits.
But the piece is also tagged with "neoliberal."
He does cite an example of a neocon -- but by sheer cohencidence, he chooses Cheney -- a goy.
No direct mention of the Tribe, of course.

So what's the purpose of this particular narrative frame?

Most likely trying to set up a repeat of the false dialectic used in marketing/ "opposing" the Iraq invasion:

>"No blood for oil!"
vs.
>"Support our troops! America, f**k yeah!"

To distract from the real reasons behind yet another war for israel.

And indeed, Hudson makes that exact analogy in his conclusion:
"American foreign policy remains as focused on oil as it was when it invaded Iraq under Dick Cheney’s regime. U.S. policy is to treat Venezuela as an extension of the U.S. economy, running a trade surplus in oil to spend in the United States or transfer its savings to U.S. banks."

Iraq war = oil!

Venezuela regime change = either oil, or fighting Communism.

Those are your choices. Pick one, goy!

Blogger Francis Parker Yockey February 08, 2019 2:49 PM  

@16
Neocons care primarily about Israel, not oil. Leaving out the Israeli angle in this matter is foolish, as a result. Sure, oil may be the driving factor, but to fail to notice that Venezuela figures rather largely in the income stream for a Lebanese based militia that beat the IDF in Israel's last invasion is a little negligent, if not suspicious

Bingo. Except that it's not "foolish." It's a deliberate tactic to distract from the role of Israeli/ tribal interests by substituting a false " 'capitalism' vs. 'Communism' " dialectic that focuses purely on ideology and financial interests, and obscures the role of organic group identity/ interests.

Blogger Unknown February 08, 2019 5:02 PM  

This comment has been removed by the author.

Blogger Unknown February 08, 2019 5:11 PM  

This comment has been removed by the author.

Blogger Robert Buchanan February 08, 2019 5:12 PM  

"Chavez sought to restore a mixed economy to Venezuela"

For a moment, I honestly believed that this was satirical.

"What he was unable to do was to clean up the embezzlement and built-in rake-off of income from the oil sector."

To be fair, he was preoccupied with his own hugely lucrative defalcation and cronyism.

"And he was unable to stem the capital flight of the oligarchy, taking its wealth and moving it abroad – while running away themselves."

What else would one expect, after the assets of these (admittedly sleazy) companies had been purloined via nationalization?!

"It merely takes a long time to change an economy's disruption"

Is "change an economy's disruption" euphemistic for, "depredate a nation's economy and society?"

"while the U.S. is using sanctions and "dirty tricks" to stop that process."

Pompeo's and Trump's connivance is apparently stupid, but almost negligible compared to the Chavistan legacy.

"There is no way that Chavez and Maduro could have pursued a pro-Venezuelan policy aimed at achieving economic independence without inciting fury, subversion and sanctions from the United States."

Perhaps, but they might've done so without prosecuting Marxist ideological imperatives that have immiserated their nation. Nota bene: banksters = "United States."

"It is using that country as a "demonstration effect" to warn other countries not to act in their self-interest in any way that prevents their economic surplus from being siphoned off by U.S. investors."

Again, this would be true if "U.S. investors" was substituted with "globalist bankers."

"I cannot think of anything that President Maduro can do that he is not doing."

Here's a thought: reverse course by abandoning both the inane ideology that's pauperized his populace and the cronyism that's wrecked his national industry, and demonstrate a first instance of actual competence in his political career.

"At best, he can seek foreign support and demonstrate to the world the need for an alternative international financial and economic system."

Meanwhile, on planet Earth, Maduro probably struggles to operate a toilet.

"He already has begun to do this by trying to withdraw Venezuela's gold from the Bank of England and Federal Reserve."

Yeah, he's not just endeavoring to wrest his gold to sustain the Worker's Paradise for another few annual limps; this is a master plan to teach the world what anyone with an IQ exceeding room temperature already knows.

"Maduro's defensive move is showing other countries the need to protect themselves from becoming "another Venezuela" by finding a new safe haven and paying agent for their gold, foreign exchange reserves and foreign debt financing, away from the dollar, sterling and euro areas."

Inadvertently, mayhap...

"His plan – and of course it is a longer-term plan – is to help catalyze a new international economic order independent of the U.S. dollar standard."

This ascription of strategic brilliance to a tyrannical halfwit too stupid to denounce international financial institutions (yet who persecuted a middle class that might've sustained Venezuela's economy when oil prices plummeted) is sort of adorable.

"The Trump administration is destroying illusion more thoroughly than any anti-imperialist critic or economic rival could do!"

I love how aging Marxists like Hudson desperately need to target the reviled Blumph so to maintain marginal credibility with "progressives."

Matamoros wrote:Democracy only lasts until the underclass realizes they can vote themselves the goodies.

That's the best apothegm I'll read this month.

Blogger Steve Rodger February 08, 2019 5:18 PM  

Chávez tried to force companies to sell stuff cheaper them they actually costed to produce and that lead to a total dependence of foreign goods as internal production drastically diminished but when oil prices collapses the country suddenly saw generalized scarcity.

Blogger Steve Rodger February 08, 2019 5:19 PM  

Venezuela is a member of the São Paulo forum, a powerfull organization between South American leftist parties, paramilitary forces and narcotrafic that wants to follow the EU model of supranational union and is aligned with the UN globalist goals. Philosopher Olavo de Carvalho unmasked the organization and by doing so singlehandedly cause the election of Bolsonaro in Brazil.

Blogger Daniel February 08, 2019 7:41 PM  

Mean IQ of Venezuela: 84

'Nuff said.

Citation :https://brainstats.com/average-iq-in-venezuela.html

Blogger Brett baker February 08, 2019 8:32 PM  

"serious interview"-OK

Blogger S1AL February 08, 2019 9:21 PM  

"To be fair to Unz, he does publish a pretty wide range of stuff, and you can't necessarily assume that a particular piece reflects his own views."

I don't think it does, anymore than I think that the Washington Post commie pieces represent the views of Bezos. I do, however, think that each one is a tool of misdirection. In Unz's case, I first became suspicious when I realized how much of his stuff was used to defame the only set of Jews in America that votes Republican and doesn't seek political power - the intention is obvious. It's: "Secular, centrist Jews like me good, those other Jews bad. Now don't you worry none about all these Mexicans in California, they're just like you and me."

He's a different version of Shapiro.

Blogger Gregory the Great February 09, 2019 5:22 AM  

The Saker used to be a pro-Russian and Pro-Christian blog. Now it is full-blown Marxist suppressing dissenting comments

Blogger KPKinSunnyPhiladelphia February 09, 2019 11:01 AM  

VD Wrote:

In short, Venezuela is another crisis point for US financial imperialism. The inability of Venezuela to take possession of its own gold in London is yet another indication that the neo-liberal world order is increasingly unstable. It's not about the oil, it's about the debt.

Daniel wrote:Mean IQ of Venezuela: 84

'Nuff said.

Citation :https://brainstats.com/average-iq-in-venezuela.html


You know, this Yankee imperialism crap is almost as tiresome as the baby boomer bashing.

Let's get real here, shall we?

Venezuela was doomed from the minute Chavez took power. The fact is Venezuela wouldn't, or couldn't, get its own economic house in order, and instead plundered its own oil reserves in an effort to "spread the wealth" around, but with a good deal going to your classic Latin oligarchy -- who, having a higher IQ than your average Venezuelan, quietly moved their money to off shore havens.

Western banks and oil companies were happy to comply with the whole process, because the oil was always there to backstop the debt. So rather than develop their own economic infrastructur, including refineries that could take the heavy dirty crude, or negotiating advantagous joint ventures, they thought the gravy train could go on forever.

Fat chance. The bankers ALWAYs want their money back, duh!! Go default on a house mortage and find out for yourself.

Blogger Greg Q February 09, 2019 11:14 PM  

"Michael Hudson: Chavez sought to restore a mixed economy to Venezuela, using its government revenue – mainly from oil, of course – to develop infrastructure and domestic spending on health care, education, employment to raise living standards and productivity for his electoral constituency."

When did you become such a complete f'ing lunatic?

Chavez used the oil money to enrich his new "elites", while not spending anything on the oil infrastructure that Venezuela needed to keep on producing oil.

I've seen a lot of TDS infected "conservatives". And I have nothing but contempt for them

Your lunacy is apparently the inability to see s "strongman" you don't like.

Chavez was a true socialist, which is to say he was a corrupt monster who destroyed everything he touched. Venezuela is screwed up because of "Chavisimo", not anything done by the US.

When did you become such on Obama fanboi?

Blogger Greg Q February 10, 2019 2:11 PM  

Let's be perfectly clear here: "social spending" != "building infrastructure"

It == "pissing away money buying votes while screwing over the people, and making ruling class cronies rich"

No decent human being defends Chavez, or Maduro. Whatever insanity is pushing you to do so, you might want to use your supposedly high IQ to look into

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