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igotthisguitar
Joined: 08 Apr 2003
Location: South Korea (Permanent Vacation)
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 Posted: Mon Apr 30, 2007 10:12 pm Post subject: Venezuela Pulling Out Of IMF, World Bank & MONSANTO |
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Venezuela Pulling Out Of IMF, World Bank
By JORGE RUEDA, Associated Press Writer
CARACAS, Venezuela - President Hugo Chavez announced Monday he would pull Venezuela out of the World Bank and the International Monetary Fund, a largely symbolic move because the nation has already paid off its debts to the "lending" institutions. 
"We will no longer have to go to Washington nor to the IMF nor to the World Bank, not to anyone," said the leftist leader, who has long railed against the Washington-based "lending" institutions.
Venezuela, one of the world's top oil exporters, recently repaid its debts to the World Bank five years ahead of schedule, saving $8 million. It paid off all its debts to the IMF shortly after Chavez first took office in 1999.
The IMF closed its offices in Venezuela late last year.
CONT'd ...
http://news.yahoo.com/s/ap/20070501/ap_on_re_la_am_ca/venezuela_imf
(ETC)
Last edited by igotthisguitar on Sun May 06, 2007 10:15 pm; edited 1 time in total |
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Mosley
Joined: 15 Jan 2003
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| Posted: Tue May 01, 2007 7:49 pm Post subject: |
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Leave Chavez in power long enough and in a decade or so we'll see a S. American Zimbabwe...but w/oil.
I'm still waiting for leftist conspiracy theorists to explain why a socialist, anti-American state w/ oil hasn't been invaded by the Great Satan.... |
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crazy_arcade
Joined: 05 Nov 2006
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| Posted: Tue May 01, 2007 8:22 pm Post subject: |
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Yeah...using Latin American wealth for the prosperity of Latin America is a really stupid idea. Who the hell does Chavez think he is anyways....
It's America's "backyard' so they get first rights to all wealth there.
Wait...he was elected in democratic elections deemed more fair by the international community than the most recent U.S. elections.....
Anyways, don't be fooled, the US certainly is operating insurgency plans in the region. They just don't publicize it (see Contras, Chile etc.) |
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Mosley
Joined: 15 Jan 2003
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| Posted: Tue May 01, 2007 8:26 pm Post subject: |
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"Anyways, don't be fooled...."
The defense rests.... |
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jinju
Joined: 22 Jan 2006
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| Posted: Tue May 01, 2007 10:24 pm Post subject: |
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| Im happy. Hopefully when the economy implodes both the IMF and the World bank will tell them to *beep* off. |
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endo
Joined: 14 Mar 2004
Location: Seoul...my home
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| Posted: Tue May 01, 2007 10:59 pm Post subject: |
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| Mosley wrote: |
Leave Chavez in power long enough and in a decade or so we'll see a S. American Zimbabwe...but w/oil.
I'm still waiting for leftist conspiracy theorists to explain why a socialist, anti-American state w/ oil hasn't been invaded by the Great Satan.... |
Well the Americans (CIA) did have their dirty hand in an attempted coup a few years ago.
I'm actually rooting for Venezuela. Americans policies in the region haven't done a hell of a lot for South America. So let them try it on their own.
Perhaps they could do better. |
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Mosley
Joined: 15 Jan 2003
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| Posted: Tue May 01, 2007 11:26 pm Post subject: |
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| Yes, more peace, prosperity and freedom in the last century was created by socialism than by any other system known to mankind.... |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Tue May 01, 2007 11:35 pm Post subject: |
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| endo wrote: |
| Mosley wrote: |
Leave Chavez in power long enough and in a decade or so we'll see a S. American Zimbabwe...but w/oil.
I'm still waiting for leftist conspiracy theorists to explain why a socialist, anti-American state w/ oil hasn't been invaded by the Great Satan.... |
Well the Americans (CIA) did have their dirty hand in an attempted coup a few years ago.
I'm actually rooting for Venezuela. Americans policies in the region haven't done a hell of a lot for South America. So let them try it on their own.
Perhaps they could do better. |
My attitude is "meh". When the money is flowing freely, any system can work. It's when the cash gets short that the flaws emerge. I saw this a lot in the dot.com world. When you've got $35 million in the bank, a european pastry chef for your staff lunch room and Pete Townshend playing at your company christmas party certainly seems like innovative HR policy. But when the cash dries up, you notice people aren't getting a lot of actual work done.
I think more Americans fume and rage over Chavez, more it gives a politician the ability to ride this new "great satan" to political office and power. The simple solution is don't buy his oil. If America can't replace his oil, then it better get to work on a technological solution.
He's technically not killing Americans, right? He's not killing his own people. He's going against the grain of all economic wisdom and using oil money to paper over it. He's certainly funding political systems that America doesn't like. But one commie country left on earth isn't much of a threat to the free world. |
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Paddycakes
Joined: 05 May 2003
Location: Seoul
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| Posted: Tue May 01, 2007 11:49 pm Post subject: |
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| Wait till the WASP mafia gets to him... anyone see The Good Shepard lately? |
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Wrench
Joined: 07 Apr 2005
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| Posted: Wed May 02, 2007 4:26 am Post subject: |
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| IMF and World bank is a failure just like any UN type organization. |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Wed May 02, 2007 5:10 am Post subject: |
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| Wrench wrote: |
| IMF and World bank is a failure just like any UN type organization. |
How so? |
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Wrench
Joined: 07 Apr 2005
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| Posted: Wed May 02, 2007 7:04 am Post subject: |
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| mindmetoo wrote: |
| Wrench wrote: |
| IMF and World bank is a failure just like any UN type organization. |
How so? |
They destroy countries. Don't get me started I did my 40 page thesis Macro-economics in Uni on the failure of the IMF and World bank. I also did a 40 Page Thesis on APEC for micro-economics. BTW I am an Economics Major. World bank and IMF just manage to destroy economies by burdening the lender country with uneccesary debt.. They function like credit cards and we know how much good credit and credit cards have given everyone. |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Wed May 02, 2007 4:20 pm Post subject: |
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| Wrench wrote: |
| mindmetoo wrote: |
| Wrench wrote: |
| IMF and World bank is a failure just like any UN type organization. |
How so? |
They destroy countries. Don't get me started I did my 40 page thesis Macro-economics in Uni on the failure of the IMF and World bank. I also did a 40 Page Thesis on APEC for micro-economics. BTW I am an Economics Major. World bank and IMF just manage to destroy economies by burdening the lender country with uneccesary debt.. They function like credit cards and we know how much good credit and credit cards have given everyone. |
Actually, start if it pleases you. Forgive me if I don't accept an argument from a self proclaimed authority.
I'm more interested in what problems you see with the IMF. If I understand the role of the World Bank, it offers development loans to the third world, there probably isn't a lot of oversight to make sure the money is used to build oil refineries etc and the money just doesn't go into the pockets of a bunch of cronies (it's a student loan program on a world scale). But the IMF?
The 1997 Asian economic crisis seemed to me showed the IMF has a useful and effective purpose. For example, it saved Korea, forced needed changes on Korea, and people are a lot lot richer here today. Of course a single example isn't data.
Has the IMF done anything really horrible to a nation's economy since 1997? |
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Gopher
Joined: 04 Jun 2005
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| Posted: Wed May 02, 2007 4:53 pm Post subject: |
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The American govt created the so-called Atlantic System in the Second World War's aftermath. (Many Europeans had long blamed America for failing to do so after the First World War; they faulted America for the Depression, the rise of Fascism, and the Second World War -- that is, things that occurred in the absence of a hegemon/police power.)
This entailed supranational but America-capitalized and thus America-dominated currency-regulating organizations like the Marshall Plan's European Recovery foundations as well as Washington's European Economic Cooperation initiatives -- which led to today's European Union, incidentally -- the World Bank, the IMF, and lesser regional-focused instutitions like Latin America's Inter-American Developmental Bank, as well as regional alliance structures of various types like NATO in Western Europe and the Rio Pact in Latin America and the Caribbean.
These are voluntary. That is not eupehmism. No one must accept loans from these institutions or submit to any American military alliance or mutual-defense pact. de Gaulle proved this point much earlier. So did those like today's France and Germany, who declined to participate in the current Iraqi War.
In any case, if Chavez wants to remove Venezuela from this system that is his business. I respect that he paid Venezuela's debts first. |
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Novernae
Joined: 02 Mar 2005
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| Posted: Wed May 02, 2007 6:26 pm Post subject: |
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| mindmetoo wrote: |
| Has the IMF done anything really horrible to a nation's economy since 1997? |
The Argentine economic crisis of 2001 was a direct result of it having been the IMF's "model student" since 1990. |
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