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Hugo Chavez:  DEA and CIA infiltrated by narco-trafficking

THE INTERNATIONAL FORECASTER editor Bob Chapman writes:  During the opening of a natural gas complex at Sucre (Venezuela), President Hugo Chavez Frias said the DEA and the CIA is infiltrated by narco-trafficking. He said he broke with the DEA because they were engaged in political espionage.

He pointed out that US president George W. Bush had failed in everything he has undertaken, particularly the war on drugs and terrorism ... "If he had any dignity he would resign."

President Chavez criticized the US monetary system, the Federal Reserve, arguing that the world is a flood with dollars that are not worth a cent. He said he would not recommend anyone have dollars. That has to mean Venezuela probably has a very small dollar position ...  Mr. Chavez is proposing a new Latin American currency called the Sucre.

Venezuelan Foreign Minister Nicolas Maduro told fellow foreign ministers of the need to boost new terms in "fair trading" and is ready to show by actions that disadvantageous free trade can be overcome. He referred to the monopoly that a minority of countries are playing in the UN ... "We cannot leave decisions to a minority of countries that feel they own the UN because they are the main financial contributors."

Setting up a Bank of the South, he maintains, comes at the right moment in which the South is becoming stronger inside the UN and other international forums.
In Ecuador, in the upcoming election at the forefront is Rafael Correa, who holds a doctorate in economics from the University of Illinois. He is an admirer of Venezuela's President Hugo Chavez Frias. He's a socialist and currently has a 27% backing ... which is seven points ahead of Mr. Leon Roldos, another socialist; a distant third is conservative Cynthia Viteri with 13%.

It looks like a runoff between the two socialists...

Mr. Correa in a recent television appearance called Mr. Bush dim-witted and a president who has done great damage to his country and to the world.

Bob Chapman
international_forecaster @
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