Hugo Chavez vs. US Government

Let me tell you a little story about two floods that occurred in different countries. One happened in an all black area of the richest country in the entire world. This nation had the greatest access to resources than anyone. Yet sadly the black people suffered because those resources never arrived. Even sadder still, many people in that same country gave all kinds of reasons why those people should be left to die. This is the story of the Hurricane Katrina disaster in the United States of America.

Over in another country on another continent a similar disaster took place in a little developing economy known as Venezuela. In November there was a deadly force of rain and flooding that killed 35 people and make 180,000 homeless. What was not covered in the Western media was the different in how Hugo Chavez treated those in distress than George W. Bush did.

When African-Americans were dying by the thousands, the US government decided that the best way to deal with the victims was to take them at gun point to makeshift prison camps like the Superdome. When this happened in Venezuela pass “enabling laws” which gave the government the power to provide emergency hosing and aid to those in need. In fact Chavez turned the presidential palace into living space for 60 people. Surely George Bush would have turned the White House into an emergency homeless shelter for those victims of Katrina right? If only he had though of it?

Unfortunately for Chavez and the good people of Venezuela, the generosity of the Venezuelan government and the people went completely ignored. The victories and achievements of the Bolivarian revolution were equally ignored by the corporate owned media, and the “revolutionary” news show the Young Turks who adamantly claim they are so different.

In the short time it has been in operation, the Bolivarian revolution narrowed the income gap, eliminated illiteracy, provided health care for all Venezuelans, reduced inequality, and raised living standards across he board. The corporate media has ignored all these achievements and continue to falsely claim him to be a dictator, no matter how many times he democratically elected and no matter how many times independent analysts declare the elections free and open.

So why all the unnecessary hatred towards Hugo Chavez by the Western media? Well, like the only saying goes, follow the money. Chavez is unwilling to hand over Venezuela’s vast resources to corporate elites and bankers. This is why Bush tried to overthrow him in 2002, a coup that failed because the people of Venezuela did not want him out of office. Since then Obama has spoken words of non-hostility, while having the CIA step up operations against him.

Did you know Chavez is reforming the banking sector in Venezuela? Apparently he has learned from the mistakes of the neo-cons and figured out that unrestrained banking kills economies, and the world economy if you count it too.

What has he done? Here’s an excerpt from an article titled “Venezuelan National Assembly Passes Law Making Banking a “Public Service”:

“Venezuela’s National Assembly on Friday approved new legislation that defines banking as an industry ‘of public service,’ requiring banks in Venezuela to contribute more to social programs, housing construction efforts, and other social needs while making government intervention easier when banks fail to comply with national priorities.”

The new law will protect the deposits and assets of customers form any criminal or just incompetent activities of the bank. The banking institutions are being forced to take the interets of the customers into account and not just those of the stockholders. A novel idea, the banking industry doing what is good for EVERYONE in the economy not just themselves and crashing it.

Here’s some more from the same article:

“In an attempt to control speculation, the law limits the amount of credit that can be made available to individuals or private entities by making 20% the maximum amount of capital a bank can have out as credit. The law also limits the formation of financial groups and prohibits banks from having an interest in brokerage firms and insurance companies.

The law also stipulates that 5% of pre-tax profits of all banks be dedicated solely to projects elaborated by communal councils. 10% of a bank´s capital must also be put into a fund to pay for wages and pensions in case of bankruptcy.

According to 2009 figures provided by Softline Consultores, 5% of pre-tax profits in Venezuela’s banking industry last year would have meant an additional 314 million bolivars, or $73.1 million dollars, for social programs to attend the needs of Venezuela’s poor majority.”

Hugo Chavez actually has written into law a way to control financial speculation. This is how you combat the economic irrationality of capitalism. But before anyone starts going and getting some kind of idea in their head that this step forward will be applauded; the US is calling this new measure an attack on economic liberty. Of course the economy geared toward human need rather than human greed must be some form of fascism right?

This is the true kick ass-ness of Hugo Chavez and the Bolivarian revolution. It makes the exploiters start seeing the average Venezuelan as people who matter as well as their shareholders.

This is why Hugo Chavez and the Bolivarian revolution is win.