Oddly enough, I've been cheering on a "Marxist Dictator" of late. Not that I'm a no good pinko commie red mind you... no, but I am rooting for Hugo Chavez as he's poking the Plutocratic forces at play outside Venezuela. President Chavez's has decided his Nation's oil is a scarce and precious commodity, one that needs to be nationalized to escape the fangs of Multinational Vampires, namely Exxon Mobil, Total Fina Elf and Conoco Phillips. So, he's raising the Oil royalty payments due to Venezuela from 1% to 16.6%.
This action is, of course, under the guise of nationalization, looking out for what is best for the future of its Citizens. By way of President Chavez's POV, the 1% level of royalties granted in the mid-1990s was designed simply to attract foreign investment. Now that prices have risen, it's time to adjust what was clearly another Kleptocratic Sweepstakes much like those under one Boris Yeltsin. Some will no doubt suggest this was to be expected as once the capital requirements had been met and executed, the boom was lowered. In my opinion this misses the point, Venezuela's Oil Fields are producing 320% above the agreed upon output for the 1% to remain in effect. It also ignores the manner in which the deal was done... Plutocratic theft.
Perhaps Mr. Chavez is taking his cue from Vladimir Putin although they both appear to have simultaneously recognized how to open the Hegemonic Coconut. How this pans out for the citizens of this outbreak of nationalism remains to be seen, but what it clear is that former "deals" are no longer considered legitimate. Globalization is being resisted to an extent, Nationalism, or at least the guise of such is the current message track.
Spain appears to have a similar approach, having left US troops out of the parade and invited French soldiers instead. Prime Minister Jose Luis Rodriguez Zapatero critics have accused him of damaging relations with Washington. Is this a sign of Spain's new and improved foreign policy? After all, the previous ruling cabal was tossed out on their behinds not long ago in an election that sent clear signals as to what its citizens were "For."
Mother Russia is a very telling example of just how foreign policy without clear cut strategies fails every time. "The Russian Oligarchs are being driven out by the Statist powers that be, accused of Wild Cat operations in Energy, Mining and now Banking. We will have to watch and see where the IMF lines up this go around, as Mother Russia's handlers appear to be barking at her predators." Prior to Putin's restoration of national interests, witnessing the decay first hand allowed a degree of insight not presented by the Western Media conglomerates.
Having spent a good deal of time in Russia in 1991 I am reminded of the nature of its initial restructuring; enterprising Mobsters gained control through chaos. They consolidated regional powers once held by the party. Privatization was the order of the day. Assets were grabbed for several cents on the dollar, from the local Arbot to the World's richest oil fields. The plutocrats made a grab for everything and came out owning damn near everything for next to nothing.
This has begun to come full circle of late as President Vladimir Putin has seen fit to end the Plutocratic, Mob reign. Signifying the importance of Russian oil to the world economy, Kremlin approval will be required in the future dealings with the Rockefellers. Russia's interests will be put first as its Oil and Mineral Reserves place it as the dominant player over the next century.
Perhaps Venezuela is one of many Nations to begin to walk in Russia's footsteps.
Oct 12, 2004
John Mackenzie manages private capital and hosts a gold forum/investors exchange on Yahoo! groups.