Venezuela Pulling Out of IMF, World Bank

Venezuela Pulling Out of IMF, World Bank

www.forbes.com

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.

During Sunday's talks with leaders from Bolivia, Nicaragua, Cuba and Haiti, Chavez predicted that "sooner or later, those institutions will fall due to their own weight."

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Venezuela is not the only South American country to put distance between itself and the IMF and World Bank.

Bolivia, Nicaragua and Ecuador have also undertaken steps recently to get out from under the weight of these institutions, not to mention Brazil.
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www.forbes.com
(visit the link for the full news article)

Hi Gools
You think any of this Wolfowtiz scandal helped speed their decision and the fact that the USA has the sole vote in who can be appointed to the spot of CEO? I would probably say it is.


Wolfowitz seems to be pretty obstinate in that he won't resign. Ahh well there goes another good thing down the tubes due to poor choices made by this administration.

All trouble Gools and more to come re the US Dollar. Everyone ie Foreign-States will change over, except perhaps Britain.
Britain has not 'officially' changed to the Eurodollar, yet.

All this stuff is going to have some negative effects on our US Partner dollar proximity toward the NWB, I feel.

Dallas

Wolfowitz is just the latest scandal.

People have been complaining about the IMF and World Bank for years. Remember Seattle in 99?




Related news: Brazil To Join "Bank of the South"
.

Good for Chavez and Venezuela they can distant themselves from the corruption in the world bank and the countries that support that corruption.

Wolfowtiz, will not resign because he has tested the power and that power is to much to let go . . . and after all he has the back up of our president he put it in there, just to show that they all swim in the same dirty waters.

Originally posted by Gools
Seattle in 99?

Jeez Gools has it already been 8 years since that happened. Wow. I remember all those young kids rioting but it seems like it was only recently.


Pie

Originally posted by Dallas
All trouble Gools and more to come re the US Dollar. Everyone ie Foreign-States will change over, except perhaps Britain.
Britain has not 'officially' changed to the Eurodollar, yet.

All this stuff is going to have some negative effects on our US Partner dollar proximity toward the NWB, I feel.

Dallas

Dallas would GB want to change over from Pound Sterling to Euro? I mean the BP is worth 2x what the US$ is and the Euro is probably .25 less then that , so why would they bother.

I can see that Chavez will definitly opt for funds in foreign currency rather then the US $ for sure. He is not stupid enough to feed the mouth that bit him by continuing to support the $. I don't think he is going to forget we sanctioned him and tried to keep him from getting weapons through blackmail. We make the mistake of distancing paying customers who are influential in The World Economy only to support allies who suck us dry, have no economy of their own and won't think twice about stabbing us in the back multiple times with a smile on their face.

"would GB want to change over from Pound Sterling to Euro? I mean the BP is worth 2x what the US$ is and the Euro is probably .25 less then that , so why would they bother".
____________

Forget "Pound Sterling" it's an old term for Great Britain commodity and Currency trade. These days we go with the British Pound. No it's not 2x the US dollar, appx 1.72 appx and after exchange appx 1.56 appx depending on the currency market on a particular day.

Don't know. It would seem GB switching over to Euro will psychologically alarm the US.Then their money market..

Depending on trade deficiency between GB and USA to the Eurodollar's advantage it will help destabilize the American Dollar which, in my opinion Russia, China and Iran has already caused big time concern with the three trading major resources in Eurodollars.

Everything left holding the US dollar together is in Iraq -- OIL.
US has addressed China with new Import Duties (about time) percentage I don't know as yet as it's still unannounced.
___________
Sorry. I cannot answer your overall question. Too many variables other than GB will benefit going inpar with France and Germany. The United States has a whopping load to lose and is already feeling the suction -- down the tubes. Just a matter of time and GB coming to a conclusion as to support USD or support and trade in ED?

Dallas

Currency
Last Trade U.S. $
N/A ¥en
7:41pm ET Euro
5:00pm ET Can $
7:37pm ET U.K. £

Exchange Rate today:

1 U.S. $ =

1 Euro =
1.3605 163.0151 1 1.5126 0.6808 1.6443 1.6520
1 Can $ =
0.8994 107.7712 0.6611 1 0.4501 1.0871 1.0921
1 U.K. £ =
1.9985 239.4604 1.4689 2.2219 1 2.4154 2.4267

_______________________
1 AU $ =
0.8274 99.1391 0.6082 0.9199 0.4140 1 1.0047
1 Swiss Franc =
0.8236 98.6782 0.6053 0.9156 0.4121 0.9954 1

Dallas

From what I have heard of the corruption of the Wold Bank I can't say I think it is a bad thing that Chavez has pulled out along with sever other countries. However, as to the corruption of the World Bank, if you think there is corruption, then you might have some idea of what might happen next. I don't think it is to any ones surprise that the U.S. would prefer Chavez out of office. So might this be the precursor to Chavez being out of office? For any one who has not seen the video that I have linked below you might want to watch it. It will explain just how the World Bank operates and how Chavez might find him self out of office.

part one
part two
part three

Hugo Chavez reminds me of Manuel Noriega(sp?) the Panama gov- cartel - exclusiouso.

But no threat to the USA, Canada or further above the 49th. I suggested above he seems to like the American people and despises the American President GW Bush.

Frankly, who could care about Chavez and how he may view the more northern hemisphere? He's lately become a Dictator, worthy of a coup.

Dallas

Chavez is working hard to make an anti-American South American trading block. In purely political terms, its in his best interests to do so since U.S. policy in the region has been so weak.

What can he do to the Americans? Hm. Where to start.

1. His new trade block could successfully fight a resource-based trade war with a weakened U.S.

2. Venezuela is currently in the process of giving American oil companies the big goodbye.

I could go on, but you see where it leads.

[edit on 1-5-2007 by Justin Oldham]

Originally posted by marg6043
Good for Chavez and Venezuela they can distant themselves from the corruption in the world bank and the countries that support that corruption.
..............

Marg you should know by now that chavez is not the "people's savior" as he and his supporters claim he is, and if you think Chavez is not corrupt then you don't know enough about him.

Chavez is not doing this because of any "corruption". He is doing this because despite his claims, he hates the American way of life, just like every other Communist does.

He is a big supporter of the "permanent revolution" and he alongside castro and some others want to expand that "workers revolution, better known as Communism" to other countries including the U.S.

I have been predicting this outcome ever since I started as a member in these forums, yet back then most other members were just claiming China, Russia, Venezuela etc were not going to do this because the U.S. is one of their costumers etc.

Now that these events are unfolding again some find some way to blame the U.S., but as some other members and i have been saying and have been giving proof to back our statements "these events were premeditated a long time ago by these people", and the outcome is not going to be good in the least...

If people are complaining now about the U.S. just wait if China, Russia, Venezuela, Iran etc get to continue with their plans...

[edit on 1-5-2007 by Muaddib]

Don't worry Muaddib we know that Bush will just have to go into Venezuela and liberate them from Chavez.

After we liberate the Iranians first.

Originally posted by marg6043
Don't worry Muaddib we know that Bush will just have to go into Venezuela and liberate them from Chavez.

After we liberate the Iranians first.

Wait a sec Marg...Chavez has to wait his turn! Don't forget Syria and Lebanon were first! (Well actuall 3rd and 4th in line) LOL

The New Middle East first then the New South America


Pie

The funny thing Maudibb is you refuse to believe their is a legitmate reason that these nations are conspiring against US, only the fact that they are evil communists out to take over the world.

I will not even present the facts which you already know, because you only try as hard as possible to rationalize them. Its ok, it oks, the world is changing, and most people, yourself included are just afraid of change.

After all most peoples ways of life do not change within their liftime, that is unless you are on the reciveing end of Imperialist interests. The way I see it, the world is exacting their revenge on the empire that has used and abused it, and a New World Order will rise up to make things better.

Why bicker about one's Nationalism, when you can support a globalist loyalty that unites all the cultures of the Earth. The destruction of borders will become widespread this century, and doing so will make the world a much nicer place to live in for our future inhabitants.

So i guess we cannot have a discussion with different ideas about this?

If anyone disagrees with what Chavez, and countries like Russia and China are doing we are actually just trying to "invade" instead of talking about the matter at hand?.....

[edit on 1-5-2007 by Muaddib]

Originally posted by DYepes
..............
Why bicker about one's Nationalism, when you can support a globalist loyalty that unites all the cultures of the Earth. The destruction of borders will become widespread this century, and doing so will make the world a much nicer place to live in for our future inhabitants.

Right, it will all be a much better world after Capitalist countries become more like China, Russia, Venezuela and Cuba... Who would have thought?...

We can have the penal system they have in China, you know if you are caught with drugs you get an automatic bullet in your head...as well as if you are "too pro-democratic", if you belong to certain religions, etc, etc...

That will surely lower our prisons populations if we start implementing the death penalty for lower offenses like China does...

Forget about appeals, in such a system appeals don't exist, you are taken to court and the same day a sentence is given, if you are found guilty they take you outside, put a bullet in your head, and then charge your family for the bullet...

We can also implement Chavez's way to deal with the oposition....oppress the people who disagree with him, threaten every citizen who would think about signing a referendum against whoever is in power....and those people who sign referendums or speak against whoever is in power can say goodbye to their jobs, they will be threatened and intimidated etc.... Not to mention the fact that we can have sharp shooters shooting people who demonstrate peacefully against whoever is in power, like Chavez has done....

It will be great....really, the world will be a better place......

[edit on 1-5-2007 by Muaddib]

Muaddib - With you 100%

I do not understand people that say chavez is so wonderful.

Originally posted by Muaddib


Right, it will all be a much better world after Capitalist countries become more like China, Russia, Venezuela and Cuba... Who would have thought?...

We can have the penal system they have in China, you know if you are caught with drugs you get an automatic bullet in your head...as well as if you are "too pro-democratic", if you belong to certain religions, etc, etc...

That will surely lower our prisons populations if we start implementing the death penalty for lower offenses like China does...

Forget about appeals, in such a system appeals don't exist, you are taken to court and the same day a sentence is given, if you are found guilty they take you outside, put a bullet in your head, and then charge your family for the bullet...

We can also implement Chavez's way to deal with the oposition....oppress the people who disagree with him, threaten every citizen who would think about signing a referendum against whoever is in power....and those people who sign referendums or speak against whoever is in power can say goodbye to their jobs, they will be threatened and intimidated etc.... Not to mention the fact that we can have sharp shooters shooting people who demonstrate peacefully against whoever is in power, like Chavez has done....

It will be great....really, the world will be a better place......

[edit on 1-5-2007 by Muaddib]

Chavez did not threaten or shoot anybody, he was elected and the elections were very legal, unlike the US elections
Watch this vide you will understand more about Chavez and what is going on in Venezuela. You will see him arrested then eliberated and reinstituted as president. Watch what he does with the ones who organized the coup - venezuelan generals working for the US, then imagine what Bush would have
done

video.google.com...