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BUENOS AIRES -- Venezuela and Argentina aim to establish a new regional bank for nations frustrated with conditions imposed by the International Monetary Fund (IMF).
Argentine President Nestor Kirchner announced recently that the countries will cooperate on a "binational" bond issue that will serve as a precursor to a regionwide financial institution, an idea promoted by Venezuelan President Hugo Chavez.
Regional news outlets said the so-called "bond of the South" would be valued at about $2 billion and be used to finance infrastructure projects.
Contrary to twisted media reports and the howls emanating from various centers of world finance, the July 20-21 Presidents' summit of the Common Market of the South (Mercosur), in Córdoba, Argentina, was not some meeting of Ibero-American leaders "moving to the left," supposedly evidenced by the presence of Cuban President Fidel Castro and Venezuela's Hugo Chávez.
The reality is that, like many other foreign leaders who see only insanity coming out of Washington, the five Presidents of Mercosur's permanent members (Brazil, Argentina, Paraguay, Uruguay, and now, Venezuela), and associate members Bolivia and Chile, are all seeking ways to distance themselves from the Bush-Cheney Administration's insistence that fascist globalization is the road to economic progress. Absent any serious global programmatic initiatives, such as those put forward by statesman Lyndon LaRouche, Ibero-American Presidents discussed plans to create new regional financing agencies and mechanisms to address disparities within the bloc, to accelerate the process of regional integration, and ensure that its benefits are enjoyed by all of its members.
Originally posted by Gools
But then again, the economic realities now setting in along with oil producers gaining more power, maybe this time they can succeed.
Originally posted by TheBandit795
Chavez is a driving force behind this process.
give $100m worth of oil to Mali annually, with no debt acquired by Mali or payment needed. Chaves has even said that he didn't need thanks.
Originally posted by BattleofBatocheNothing will change. The average people will still be poor. The Rothchilds, Rockefellars, Warburgs, and all other creeps will have their hands involved in one way or another. However this could be what the eilte want all along. They are going to destroy the U.S. sooner or later.