Chavez takes all Venezuela money out of US & into Europe

[donsu]

http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=AP&Date=20050930&ID=5157487


Chavez: Venezuela Moves Reserves to Europe

Venezuela has moved its central bank foreign reserves out of U.S. banks, liquidated its investments in U.S. Treasury securities and placed the funds in Europe, Venezuelan President Hugo Chavez said Friday.

"We've had to move the international reserves from U.S. banks because of the threats," from the U.S., Chavez said during televised remarks from a South American summit in Brazil.
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crumble

[phantom power]

1. Probably a good investment decision, politics aside.

By any objective measure, American credit should be evaluated at "junk bond" status.

[rman]

2. Not that Europe is that much better than the US,

But it's yet another interesting move by Hugo.

[1932]

11. I have more faith that Europe is building a real economy rather than

a circus attraction for hot money, like the US appears to be.

(Hot money is the money that flows into developing countries for astronomical, unrealistic, short-term gains, and then flows out as soon as the currency (inevitably) starts to decrease in value -- which is what happened during the Asian crisis, in Russia, and everywhere else where they tried the Washington consensus shock-therapy market liberalization programs.)

[kenny blankenship]

3. Just try and freeze THAT, Bushco!

Don't want your assets frozen by a belligerent US State Dept.? Don't leave them within our reach ! (Smart move.)

[MaineDem]

12. That's what I was thinking, too (nt)

[orwell]

4. Probably

...should diversify into Latin American and Asian investments as well.

Nice move getting out of US though. I expect others to follow eventually when the true nature of the US Neocon's global hegemonic ambitions become clearer. The coming wars with Iran and Syria over the latest "intelligence" should take care of that.

[neweurope]

6. Yes, he should diversify. Doesn't he know the pressure the US

keeps applying on Europe? And usually the Europeans carve in. Which is no surprise. Opposing the US is not easy.

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Remember Fallujah

Bush to The Hague!

[Sarah Ibarruri]

5. Thank GOD!

I love Chavez. :toast:

[Name removed]

7. Deleted message

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[Crunchy Frog]

8. Why do you say that Chavez sucks?

Just curious.

[Name removed]

9. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Crunchy Frog]

10. Oops! Looks like you're gone already.

:hi: