The Devil's Excrement





  Venezuela
For those that just want to know about the bizarre, wonderful country of Venezuela and its even more bizarre current Government
Last updated:
9/3/2007; 3:09:58 PM

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Monday, August 06, 2007



Last November I published a similar graph to the one below, comparing the "implicit" exchange rate, the ratio of monetary liquidity M2 to international reserves, to the parallel "swap" exchange rate and noted at the time that the Government was printing too much money as measured by the implicit rate and that meant the swap rate was going to move up.

Unfortunately, I was right and the swap rate has moved up sharply. As you can see from the graph below updated to the end of July, the Government managed to control liquidity in the first half issuing bolivar-dollar bonds, which kept the two rates close, but in the last few weeks has accelerated spending and thus the printing and the implicit rate has moved sharply up, way above the swap rate. Note that every time this happens, the swap rate moves up sfast to close the gap and right now the difference is almost Bs. 800. Since the Government has no plans to have the massive issuance of bonds of the first half, then you know the swap rate only has one way to go: UP!, much like the conclusion of that post.


11:16:21 PM    comment []



This is a companion post to Daniel's post on Eva Golinger, where he tells how she showed up in the blogosphere and has made a name for herself by digging documents and accusing with them.

The Golinger Code by Teodoro Petkoff in Tal Cual


We feel obligated to bring up once again the episode of the "Committee for Anti-American Activities" of the US Congress, which was directed by Senator Joseph McCarthy in the 50's of last century, because it is impossible not to associate it to what was staged a few days ago by the National Assembly which resolved calling to testify in front of it 33 reporters "suspicious" of "anti-Venezuelan activities"-a concept already established by Eva Golinger, a synonym for the macarthist "anti north American" and for whom to express your opposition to the Government is "anti Venezuelan". The format is the same as McCarthy's. Informers would give him the list of those "suspect of anti American activities" and his committee would subject them, to brutal trials, which sent a few North American intellectuals and politicians to jail and exile. It was a black period in the history of the US which was overcome thanks to the gigantic democratic reserves of that country, which managed at the end to defeat the demential senator, who ended up an alcoholic and subject to scorn.

When one observes the behavior of that professional informer, the super-snitch Eva Golinger, together with her adjunct, that paradigm of decency and integrity called Mario Silva, it comes to mind the remembrance of that sort of "political operator" of McCarthy, lawyer Roy Cohn, who fulfilled for him, the same repulsive role that this little gringa lawyer has assigned herself in our country-who by the way, seems to have a special licensee to actively get involved, and not only with opinions, in our affairs. Of course, Tascon, who not happy with the "merits" accomplished with his nauseating list, now searches for a new "award" in the calendar of talibanic Chavismo, playing the role of a tropical McCarthy.

The objective being pursued is the same one that the gringo Senator was following: to intimidate, to create a generalized atmosphere of suspicion, stimulate snitching, and in short, to attempt against the fundamental rights of human beings such as those that can be summarized as the ability to think with your own head and to live your life without the fear of being repressed for political reason. The starting point of this persecution is terrible: Anyone that has received and/or accepted an invitation by North American political or cultural organizations is forced to prove that he or she is not an agent of the CIA.

The burden of proof is inverted: It is the reporters who have to prove that they are innocent. You are guilty until the opposite can be demonstrated. McCarthy did not invent anything. He copied the procedures of the totalitarians of the XXth. Century, Nazi-fascists and communists, perfected by the Cuban G-2 and which, apparently, have found disciples among the most rabid and backwards sectors of Chavismo. Imagine how bad it was that Desiree Santos Amaral, vice-president of the National Assembly and a reporter, felt obligated to express her reservations about the pertinence of that "investigation".

This is a political trial, a witch hunt, directed against reporters in general. They pretend to disqualify them ("anti-Venezuelans") and put fear in them with the stigma, already floating in the air of "Traitors to the Homeland". This is a moment of definition.

Taking it lying down is not an option.


8:45:46 PM    comment []



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