Latin America

The Ever-Growing Insanity of Venezuelan Exchange Controls

"With soaring import demand due to double-digit inflation, collapsing local production of almost everything other than the ever-flowing black gold, and increasing regime uncertainty ever since the Comandante’s passing, there seems to be no end in sight for the bizarre efforts with which the Venezuelan government is trying to sustain foreign exchange controls. If you want to get a good grasp of the whole shenanigan, make sure to read this, this and this, by Francisco Toro and Emiliana Duarte at Caracas Chronicles." Continue reading →

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Argentina Turns To Gold As Inflation Tops 26%

"In the country Paul Krugman hailed as a Keynesian success story, the people are fleeing the government's currency. Banco de la Ciudad de Buenos Aires, Argentina’s only bank offering gold bullion coins and bars to investors and savers is negotiating with mining companies to purchase gold direct as surging demand depletes the scrap supply. The bank began marketing gold to clients after Argentina tightened currency controls in October 2011. Banco Ciudad is the only bank left that trades in gold after Fernandez banned the purchase of certified 99.99% pure gold for savings in July. The bank sells it at 99.96% purity." Continue reading →

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U.S. denies alleged plot against Venezuelan government

"The United States on Monday emphatically denied it was involved in any plot against Venezuelan opposition leader Henrique Capriles ahead of the April 14 presidential vote. 'Let me say it here extremely clearly… the United States categorically rejects allegations of any US government involvement in any plots to destabilize the Venezuelan government or to harm anyone in Venezuela,' State Department spokeswoman Victoria Nuland said. Capriles, whom the late president Hugo Chavez defeated in October elections, is running in the upcoming election against Vice President Nicolas Maduro, Chavez’s handpicked successor." Continue reading →

Continue ReadingU.S. denies alleged plot against Venezuelan government

U.S. denies alleged plot against Venezuelan government

"The United States on Monday emphatically denied it was involved in any plot against Venezuelan opposition leader Henrique Capriles ahead of the April 14 presidential vote. 'Let me say it here extremely clearly… the United States categorically rejects allegations of any US government involvement in any plots to destabilize the Venezuelan government or to harm anyone in Venezuela,' State Department spokeswoman Victoria Nuland said. Capriles, whom the late president Hugo Chavez defeated in October elections, is running in the upcoming election against Vice President Nicolas Maduro, Chavez’s handpicked successor." Continue reading →

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Is The CIA Trying to Kill Pro-US Venezuelan Opposition?

"That is the claim made by Acting President of Venezuela Nicolas Maduro, who served as vice president under the late president, Hugo Chavez. Maduro claims that the US is plotting to assassinate the opposition candidate for president, Henrique Capriles Radonski, who polls suggest has almost no chance to win, and then pin the blame on the Venezuelan government. This, Maduro asserts, will bring about the kind of instability and public protest that the US has encouraged numerous times from the Color Revolutions to the Arab Spring." Continue reading →

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Is The CIA Trying to Kill Pro-US Venezuelan Opposition?

"That is the claim made by Acting President of Venezuela Nicolas Maduro, who served as vice president under the late president, Hugo Chavez. Maduro claims that the US is plotting to assassinate the opposition candidate for president, Henrique Capriles Radonski, who polls suggest has almost no chance to win, and then pin the blame on the Venezuelan government. This, Maduro asserts, will bring about the kind of instability and public protest that the US has encouraged numerous times from the Color Revolutions to the Arab Spring." Continue reading →

Continue ReadingIs The CIA Trying to Kill Pro-US Venezuelan Opposition?

Appeals Court Ruling Throws Wrench in Maritime Drug Prosecutions

"Four foreign nationals were arrested after their fishing vessel with 760 kilos of cocaine was seized off the Panamanian coast three years ago. The ruling reversing their convictions has called into question current US war drug tactics on foreign territory and territorial waters. If upheld, the decision in US v. Bellaizac-Hurtado, could prevent the US from prosecuting suspected smugglers caught within the 12-mile territorial waters of South and Central America countries, and it may hinder US authorities from entering the 12-mile limit themselves while carrying out anti-narcotics operations. That would wreak havoc with US drug enforcement offensives." Continue reading →

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Brazilian docs fool biometric scanners with bag full of fake fingers

"A Brazilian doctor was arrested for allegedly defrauding her employer, a hospital in the town of Ferraz de Vasconcelos, near São Paulo. At the time of her arrest, she was equipped with a total of sixteen fingers—ten of which God gave her, and six of which were crafted of silicone and given to her by coworkers. At least three of the extra fingers bore the prints of fellow doctors at the hospital. The doctor, Thaune Nunes Ferreira, 29, claims through her attorney that she was forced to use the silicone fingers to clock in to the hospital's time card system in order to cover for absentee colleagues." Continue reading →

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US drugs prosecutors switch sides to defend accused Colombian traffickers

"US prosecutors and other senior officials who spearheaded the war against drug cartels have quit their jobs to defend Colombian cocaine traffickers, saying their clients are not bad people and that United States drug policy is wrong. Senior former assistant US attorneys and Drug Enforcement Administration agents are turning years of experience in investigating, indicting and extraditing narcos to the advantage of the alleged traffickers they now represent. Feitel and Klapper spoke of recognising the humanity of their clients and called for alternatives to a four-decade-old 'war on drugs' which costs billions of dollars and incarcerates thousands." Continue reading →

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Pepe Escobar: El comandante has left the building

"Compare it with US President Barack Obama - in what sounds like a dormant cut and paste by some White House intern - reaffirming US support for 'the Venezuelan people'. Would that be 'the people' who have been electing and re-electing Chavez non-stop since the late 1990s? Or would that be 'the people' who trade Martinis in Miami demonizing him as an evil communist? El Comandante may have left the building - his body defeated by cancer - but the post-mortem demonization will go on forever. One key reason stands out. Venezuela holds the largest oil reserves in the world." Continue reading →

Continue ReadingPepe Escobar: El comandante has left the building