Do you think the economic hitmen are going to work overtime now?, page 1
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Topic started on 4-8-2006 @ 11:12 AM by TheBandit795
Look at what's happening in South America while everyones focused on the middle east!

They're beginning to free themselves of the IMF's grip and have plans to form their own version of IMF. Look for the MercoSur trading bloc to start to become more powerful.

South American nations eye alternative to IMF

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.


Here's another article, but with a political slant though.

Mercosur Dumps U.S. Economic Lunacy

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.



reply posted on 4-8-2006 @ 12:21 PM by Dae
Originally posted by TheBandit795
Chavez is a driving force behind this process.


Im not surprised! He is a hero after my own heart. Very good ATS thread here, primarily its a video about the coup in Venezuela, whats amazing is its a televised coup! A couple of Irish fellas making a documentary, land themselves in a real life coup. The reason why Ive posted this because it gives a unique chance for us to see someone like Chevez doing what he does.

This Economic Revolution will be squashed or alternatively it will be allowed to happen and will either be taken over or destroyed and hung out as an example for us, like a deadman cage at a crossroad.

Chavez et al. need us to have a revolution too, otherwise they will be fighting a too powerful foe, one who has all the superpowers (countries that is) at their beck and call.

I wonder if it would surprise many people to discover that alot of 'thrid world' countries have already paid off their initial debts, but its the interest, no, compound interest, that is crucifying them - all of us.

*looks startled*

Seems like I got on my soapbox again

*steps down*


reply posted on 10-8-2006 @ 03:30 PM by forestlady
The IMF has been bleeding S. America dry for a long time by imposing horrendous interest rates on loans to poor countries, such high rates that they will never be able to pay off their debts. Hugo Chavez, as it says in the article, has given money several S. American countries so they can pay off their loans and sever all connections to IMF, which they did. I've watched Hugo for a long time now, since 2001 and I've never seen him be accused of any corruption, unless of course you count the U.S. govt who are terrified of him. They tried but couldn't topple him or assasinate him, at least so far. My bet is on Hugo, he fights U.S. govt/elites every chance he gets and he knows that if it continues, it will engulf and destroy the whole world. In such 8 short years, Hugo has forged all kinds of alliances around the world, has helped numerous other poor countries, etc. He kicked out the multination oil companies and nationalized Venezuela's oil so that the wealth would go to the people, not foreign corporations that would rape thier country. He has given national health care to the country, as well as very cheap oil, and he's erased illiteracy completely.

He is making this move mostly to sever all connections to the IMF. I think he wants to create closer ties between S. American countries so that they have a federation of sorts so they can fight the huge IMF machine/U.S. govt hegemony and keep their countries safe and distribute their wealth more evenly, so the poor are not so poor.

Yeah, I'm with you Dea, I think Hugo is a hero. He may also be our last best hope of any of us ever ending the iron fist of the multinationals.
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