Sunday, October 23, 2005

President Hugo Chavez Frias Trying To Break Capitalism's Pernicious Model

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President Hugo Chavez Frias Trying To Break  Capitalism's Pernicious Model

THE INTERNATIONAL FORECASTER editor Bob Chapman writes: Venezuelan President Hugo Chavez Frias, while attending the XV IberoAmerican Heads of State Summit, said that  “the external debt system is a monstrous mechanism. It’s a tragedy and we want the world to see that.”

Latin American poverty continues to grow despite the fact that the region follows most of the recipes suggested by the IMF.

“The peoples of Latin America have paid twice the original over 20 years. We are close to reaching $800 billion. Latin America is bleeding to death,” Mr. Chavez said.

  • 230 million live in poverty in Latin America ... of which 100 million are living in extreme poverty.

This while the US runs a current account deficit of $700 billion, which will surely cause a negative impact on the external debt of Latin American countries. He suggested at the conference in Salamarica, Spain, that there be an exchange of debt for education. He said, “I propose we pay half the debt and that Latin America stops paying at least half the debt for a decade and then we would have about $80 billion available for healthcare, education, micro-credits and housing for the poor.”

He concentrated on the purpose of the IberoAmerican Humanitarian Fund’s purpose, such as child mortality and to prevent this Venezuela proposes a massive integral and preventative healthcare program.

“It is about trying to break the pernicious model set by capitalism, and substituting it by a social state, where society assumes a control position. Missions such as Mission Miracle, where assistance is given to the sick and needy, not only from Venezuela but also from the entire region. Cuba and Venezuela will produce up to 200,000 doctors in the next 10 years to guarantee healthcare for all.”

P. O. Box 510518, Punta Gorda, FL 33951, USA
Bob Chapman


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