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Chavez Nationalizing the Foreign-Owned Bank of Venezuela |
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Making good on a threat/pledge he’s brandished/promised since coming to power, Chavez is nationalizing the Bank of Venezuela. Government reps will sit down with Santander Group, the Spain-based owners, to settle the terms of the takeover.
Once the agreement is reached it will be the latest notch in the belt for Chavez’ Bolivarian Revolution; the electricity and gas industries are already nationalized, and plans to nationalize the cement and telecommunications industries are currently being implemented.
Did you know? The United States of America twice had a nationalized bank, the Bank of the United States. The first was proposed by Alexander Hamilton, the second was founded by James Madison after the government realized it was unable to finance the country after the war of 1812. Andrew Jackson shut it down in the sort of hotly contested affair typical of his presidency.
We often hear comparisons between Chavez and Fidel…but maybe there are some to be made between Chavez and Gamal Abd an Nasser. On the other hand, it doesn’t sound like Chavez will set off anything like Suez.
oops..there gos one more ‘outside’ influence! oh that naughty chavez..what dose he think he is! an island in a world of maggots..they will surely feed on his country after they kill him..then the poor can eat the rich..or what ever trash they can find.
Ok the facts here are scrambled and wrong. The bank of the united stated wasnt a nationalized bank. It was the same as the federal reserve a “central bank” and andrew jackson abolished it because there bad. Ill break it down for you. Ill money created by central banks is created out of debt. So you have to pay it back so essentially no debt equals no money. All money created has interest charged on it. So if the government gets the central bank to create money “lend them the money which they create from ink and paper” they owe the full amount back plus interest but the catch is interest money is never created. So more money has to be created “borrowed” to pay that and so on. The american tax payers pay around 450 billion a year to the fed in interest from accumilated debt because of this cycle. Since the fed is a private corparation/cartel all this money is profit. What a nationalized bank is is the same thing except the government just prints the money themselves and so doesnt have to pay interest on money created thus saving the taxpayers the interest and creating a richer country and causing alot less inflation. The End
PS why dont people get this stuff. Youve been enslaved by the banks.