Tag Archives: Venezuela

Edward Snowden could be bound for Venezuela

edward-snowden

edward-snowdenToday has been a slightly confusing time for anyone paying attention to the Edward Snowden situation. He remains not quite on Russian soil, holed up in an airport hotel outside Moscow, could theoretically go to Venezuela, but apparently hasn’t made a definite decision on that. Some of the confusion was fed by Russian MP Aleksey Pushkov, who tweeted out of turn about the NSA leaker.

“Predictably, Snowden has agreed to [Venezuelan President Nicolas] Maduro’s offer of political asylum. Apparently, this option appeared most reliable to Snowden,” Pushkov, the head of the lower house’s Committee on Foreign Affairs tweeted.

However, the post was deleted from the MP’s page on the microblog just minutes after it appeared.

“Information about Snowden accepting Maduro’s offer of asylum comes from [Russian TV channel] Vesti 24 newscast at 18:00. Contact them for all questions,” Pushkov tweeted shortly afterwards.

In spite of reports that Snowden apparently accepted the offer from Venezuela, WikiLeaks claims that isn’t the case. In the flurry of coverage, there are also conjectures about the logistics of getting to Venezuela in the first place, especially since the plane carrying President Evo Morales of Bolivia was diverted just over suspicion that Snowden was on board. The U.S. has threatened that the NSA leaker must not be permitted to fly anywhere but back to the states, and it remains unclear how he could get anywhere else, with the threat of retribution hanging over any nation that permits a flight to cross their aerospace. So, Snowden still has gone from “Catch Me If You Can” to “The Terminal”, at least until he can figure out travel arrangements that won’t land him back in the U.S.

U.S. Banks Being Taken Over Using Chavez-Style Manipulation

These bankers should be shown for what they really are to the public: vulgar robbers, thieves in ties, pickpockets and obstinate kleptomaniacs:”  Hugo Chavez

President Chavez created new national laws not unlike the U.S. Dodd-Frank supposed financial reform law that Barack Obama signed on July21, 2010. ( along with the supposed food safety law, and Obama-care that completes the tri-fecta of taking over banks, food companies and producers, and the complete U.S. health-care system)

The Chavez’ method of operation in stealing the total private sector wealth of private sector companies and taking over their total economy was done quickly and right out in the open, whereas Barack Obama’s plans have been quietly designed and signed into law beneath the radar of the public and many under-qualified members of Congress, who either do not see the stealth takeover of the private sector by the U.S.  government, or are choosing to turn their backs on the very people who elected them into power by remaining silent. Make no mistake here, the Obama and Chavez  doctrines run  extremely parallel and are rooted in the Marxist ideology of  Socialist wealth redistribution by a plutocracy that in the end ends up in an all-powerful Communist collective. First, let’s look at what Mr. Chavez has done in Venezuela.

Karl Marx

Chavez’s government well knows ( in his own mind) that the dollar-blinded rich in Venezuela must be defeated politically. A democratic economy is essential, and as private ownership fails to meet the needs of the masses, the state is taking over and formulating alternative ways of managing production and distribution. The pricing system is being moderated and social priorities are replacing market manipulation. As the global banking crisis and its scandals grew, the Venezuelan government ensured effective regulation at home. Several small private banks were taken over following revelations of bank fraud. (No fair trial, no evidence needed, just revelations) In November the main shareholder of a group of four banks, Grupo Financiero Bolivar, Ricardo Fernandez, known as a Chavez supporter, was arrested. Two of the banks were nationalised, and two were closed. The Institute in Defence of People’s Access to Goods and Services took control of four food companies owned by Ricardo Fernandez, to make sure there were no supply disruptions. Subsequently, a further three banks were nationalised and, on 11 December, Venezuela’s Superintendency of Banks closed an eighth.

Chavez declared on 10 December. “I have ordered the takeover of tuna, fish, corn processing and rice companies, as well as [the bankers’] estates and cattle this will become wealth for the people’. He added: ‘We are confronting these problems in a coordinated manner with the whole state, and we are taking over companies that were forming a kind of network …We cannot wait until tomorrow. At the first sign, [we take] immediate action and inexorably apply the established laws and procedures.”  (Just like Liberal fake democrats in the U.S. created a slew of laws with no allowed input from Republicans or we the people, Chavez and company drew up and instituted their own laws)

The Venezuelan media takeover has played a central part in Chavez’ plans:  In this battle the media is central, and on 23 January RCTV and five other cable channels were temporarily taken off the air for breaking transmission laws requiring them to televise government announcements. On 14 January the state expropriated the sugar mills ‘Casta’, in the state of Tachira and the ‘La Batalla’ agricultural mill in the state of Barinas, to turn them into social property. All of this was accomplished when Hugo Chavez was given permission to rule by decree, without any input from the National Assembly:  Venezuelan lawmakers loyal to President Hugo Chavez Wednesday approved a measure granting the U.S.-baiting left-wing leader authority to rule by decree  for the next 18 months.  Informed Americans have now come to realize that Obama and company now effectively control the mainstream media, as shown by their refusal to report on Obama’s questionable past, radical associations, and college Marxist ideology such as is thoroughly documented right here.  Now we shall look into what is going on in our banking sector, as we already have been made aware of the complete takeover of our healthcare system, 2 major auto companies, the government intervention into our agriculture sector enabled by the Food Safety Bill, all done in very much the same way Hugo Chavez has done in Venezuela, as shown above.

Signing of Dodd-Frank Bill enables Leftists and Obama Crony-Capitalists to take control of U.S. banks

          The FDIC closed 157 banks in 2010 and the current total for 2011 now stands at 90. 

During trips to several small towns in our area during the past two years, my family has always ended up discussing the possible reasons as to why all of the banks now have new names. The only bank still under it’s original name is the Bank of America, along with two credit unions. Why is this? If a bank is closed, how is it that it reopens almost immediately under a new name, and just why is this happening at an alarmingly increasing rate today? I recently discovered the answers to those questions, and several other questions others may have concerning the massive numbers of bank closings since 2009, and it is pretty unsettling, to say the least. 

            How is the takeover of hundreds of U.S. Banks being engineered today?

In order to close a bank down, surely there must be strict laws in place to provide security against fraud to protect depositors, taxpayers who have to foot the bill under bank foreclosures under FDIC guidelines, and their investors right? Well it turns out there were protections put into place.. until the passage of the Dodd-Frank financial reform act came along and changed the rules. First in March of 2009, the federal government starting stress testing the largest banks in the U.S. (note that this was immediately started in Obama’s first year in office) Please see The Case for Stress-Testing Community Banks*. Since this was actually the start of this method of evaluating banks, and then authorizing the FDIC to close them down, it is important to understand the role of  SCAP,  for Supervisory Capital Assessment Program and the subsequent evolution of the Dodd-Frank bill that now allows the federal reserve and the U. S. government to shut down any FDIC insured bank in America at any time. (Just like Chavez did, with zero input from elected officials)

The SCAP was launched in March 2009 to stress the capital of the 19 largest banks. This was a supervisory exercise to determine the capital buffers sufficient to withstand losses and sustain lending in institutions the U.S. Government deemed “systemically significant,” or “too big to fail.” While it was unlikely the rest of the banking industry would tolerate a system‐wide stress test, Federal policy was essentially leaving the rest of the industry to market forces and the normal FDIC resolution process. ( but not for long as we shall see next)

The stress test focused on the level and composition of capital for two years into the future. The test was conducted under two macroeconomic scenarios for two years forward:

o Baseline scenario based on consensus expectations as of February 2009; and

o More adverse scenario assuming a deeper and longer‐term downturn

(Ironically, this “more adverse” scenario was very close to what the U.S. Experienced).

The original SCAP program set the stage for Dodd-Frank regulations that would allow these “stress tests”, ( that actually had no proven benefit what so ever) to be injected into financial law. This marked a turning point on the thinking and attitude of the SCAP and the role stress testing could play in the banking industry.

 

Dodd‐Frank Act

The value of stress testing was cemented as Congress crafted regulatory reform. To ensure stress

testing became part of the fabric of bank supervision, Congress memorialized it in the following ways:

1. Federal Reserve to provide at least three different sets of conditions for firms to stress test

against;

2. Federal Reserve to do annual stress tests on bank holding companies over 50 billion in assets

and non‐bank financial firms under Federal Reserve supervision;

3. Above firms required to do their own semi‐annual stress test; and

4. All other banks with assets greater than 10 billion required to do annual stress test.

While the legislation establishes bright lines for the size of institutions which are required to perform stress testing, the entire financial services industry should be prepared for increased expectations as financial regulators become accustomed to seeing stress testing as part of the risk management framework and an important part of the supervisory process. Increasingly, bank management will find it difficult to demonstrate sufficient risk management processes without incorporating an element of stress testing.

Take note: Community Bank Performance 2009 & 2010

The pace of bank failures increased significantly in 2009, with 140 institutions being closed. As of October 1, 2010, 129 banks have closed in 2010. That has increased to a total of 247 bank closures during 2010, and 2011. As we see billions of dollars in losses putting a huge strain on the FDIC insurance fund, just who ends up taking over these ‘closed banks’ that end up reopened almost the very same day/week that they were shut down? End Part1   In Part 2, we see just who is taking over these FIDC mandated shuttered banks, who is left paying the bill for their past debt, and just who is raking in billions of dollars from these big government manipulated bank closures.

 

 

 

 

I was thinking…. Canary in the coal mine

I was thinking….. Sometimes it’s a good thing,  sometimes I just don’t know…

I have been fortunate in my life to grow up and live in foreign countries; and in that I have perspective many of my friends and family members  have never had, nor ever will.  It was no accident I decided to come to America (just as many have before me, many have since and many others yet, still dream of).

Those of us fortunate to have made it to this Country, know why we are here; although not perfect, this is the most sought after place on earth; for its freedom, for its opportunities, for its  generosity, for its way of life not paralleled by any other country in the World.

I doubt people clamor to move to Venezuela, or Cuba or France for the political governance of those countries… there is a reason for that… most of us know  it intuitively, we are not looking to be subservient to our representatives…. but those of us who have seen it first hand are America’s Canary in the coal mine.

I never remember a point in my lifetime, here or in any other country that  I can think of, where the air was so poisoned that family members, neighbors, friends can so easily be at odds with one another as much as since President Barack Obama has been elected.  No matter how much discourse there was during the 8 yrs of his predecessor George W. Bush, you never felt this constant assault and bad aura that permeates every thing we do or see in our daily lives!  In the course of calling ordinary citizens terrorists or other disparaging terms, the very Government we have elected to represent us is dividing us, marginalizing some, elevating others, seeping into our consciousness little by little.

It’s not politics… it’s destructive!!!

There are people who want to burry their hands in the sand to avoid dealing with it, which is exactly what promotes this abuse of Government power and name calling of those who dissent (we have seen this show before); we are living in dangerous times, and no, this is not just hyperbole, you can feel it!

But at the end of the day, I want to be part of the people who tried to do something about it; I don’t want to look back and say….

We could tell it wasn’t right…
We could tell it didn’t feel right…
We could tell it didn’t smell right….
We could tell it didn’t look right…

But we failed to do the RIGHT thing… and worse… We were afraid to even talk bout it!!!!!!!    My take is, Speak now or forever be silent!!!

I don’t know why… but I know I need to do something….

“Freedom is never more than one generation away from extinction. We didn’t pass it on to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same, or one day we will spend our sunset years telling our children and our children’s children what it was once like in the United States where men were free.  Ronald Reagan Address to the annual meeting of the Phoenix Chamber of Commerce, (30 March 1961)

Hugo Chavez ‘Not Dead’ – Questions Remain on Health

hugo chavez

Chavez has been out of sight for several weeks and is allegedly recovering in Cuba following a June 10, surgery. According to his closest friends and allies, Hugo Chavez is still alive and the Venezuelan president is firmly in control of the country.

His brother Adan said he had just returned from Cuba and that Hugo was recovering “satisfactorily”. Venezuela’s vice-foreign minister Temir Porras tweeted, “President Chavez is recovering well from his surgery. His enemies should stop dreaming and his friends should stop worrying”.

Some speculate that the President is simply taking a respite to recharge before the 2012 election. But, unconfirmed claims of Chavez’ current health have ranged from dealing with prostate cancer to him having died from a massive heart attack. And now his continued silence and absence have triggered a wave of concern in Venezuela over possible succession concerns.

Under the Venezuelan constitution, Vice President Jaua would become President if Chavez cannot return to power, but many argue that Chavez has become larger than life and cannot be replaced by anyone. “Chávez has made it difficult for anyone to rise to that level where they can be seen as a replacement.”, said Daniel Kerner, a Latin American analyst.

If Hugo dies or is otherwise unable to resume his Presidency, a power vacuum will undoubtedly ensue. The military, the oil industry and native Venezuelan groups may all vie for power in a Hugo-less nation.