Collapsing
Venezuela
Flashback January 21, 2007: The Washington Times nails
it with
Collapsing Venezuela.
If Venezuelan President Hugo Chavez President Obama deliberately intended to sabotage his
nation's economy, he would be hard-pressed to do anything different from what
he is now doing to his country.
It has been widely reported that Mr.
Chavez President Obama has been
increasingly taking control of the oil, telecommunications and energy
housing, banking, auto, and insurance
sectors, as well as the media. What has not been reported is the full extent
of the corruption in Venezuela the United States and how this ultimately will destroy the
economy.
The financial scandal taking place is far bigger than Enron,
and may ultimately even exceed the U.N. "oil-for-food" scandal, the biggest
financial disgrace of all time.
Since 2004, the Venezuelan Central
Bank Fed has transferred about
$22.5 billion untold $billions to
accounts abroad by the Chavez government held by foreign governments, and about
$12 billion all of that remains
unaccounted for. It has also been reported that the gold reserves have been
removed from the Central Bank.
While the rest of the world has been
moving away from socialism for the last quarter-century for good reason,
Venezuela the United States is
becoming socialist. We know governmental use of central banks to basically
print money to cover expenditures results in rising inflation and eventually
monetary meltdown.
And, finally, we know that when a state becomes
totally corrupt an economic collapse always follows. Mr. Chavez President Obama and his cronies had already
been spending far more than they were taking in and you can bet the blood from
the innocent Venezuelan people United
States citizens will be drained long before those on the take from
Mr. Chavez President Obama
agree to have their looting stopped.
The original Washington Times
article was extremely good, but a few minor changes would have made it the most
prophetically accurate post the world had ever seen.
Mike "Mish"
Shedlock