Posts Tagged ‘coup’

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Shows the cozy relationship between CIA and State Department.

“In addition to private sector and think tank experience, Ms. Breier served for more than a decade in the U.S. intelligence community as a political analyst and manager, primarily focused on Latin America.”

And “Think Tanks!”

An Obama pick:

Term of Appointment: 10/15/2018 to present

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PS

Detailed analysis, numerous lies debunked.

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US Sanctions on Venezuela Possibly Worse than Iraq Sanctions Before War

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VIDEOS: 4 US vets, including SEALs, get police escort off plane over Haiti weapons charges

The men reportedly won’t face charges for the alleged wrongdoing, but were debriefed upon returning to U.S. soil, a federal source told the Miami Herald. On Sunday, Port-au-Prince police confronted two vehicles without license plates stopped at a police checkpoint, and later revealed eight men with a slew of weapons and other gear, the Miami Herald had reported. Five of the eight men were identified to be Americans who allegedly told Haitian police that they were conducting “a government mission.” They were accompanied by a Haitian man and two Serbian men.

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Venezuela says plane from Miami delivered weapons for use by enemies of Maduro

The chairman and majority owner of 21 Air, Adolfo Moreno, has set up or registered at least 14 other companies in Florida over the past two decades. Among the people brought on to 21 Air when it formed in 2014 was Michael Steinke, its director of quality control.

Both men appear to have either coincidental or direct ties to Gemini Air Cargo, a company that Amnesty International described in a 2006 report as being among more than 30 air charter services believed to have taken part in a CIA program of rendition in which suspected terrorists were abducted abroad and taken to third-country secret “black sites” for interrogation.

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Although Venezuela is not technically at war, it is suffering from foreign currency strains triggered by aggressive attacks by a foreign power. US economic sanctions have been going on for years, causing at least $20 billion in losses to the country. About $7 billion of its assets are now being held hostage by the US, which has waged an undeclared war against Venezuela ever since George W. Bush’s failed military coup against President Hugo Chavez in 2002.

Modern Monetary Theory (MMT) is getting significant media attention these days, after Alexandria Ocasio-Cortez said in an interview that it should “be a larger part of our conversation” when it comes to funding the Green New Deal. According to MMT, the government can spend what it needs without worrying about deficits. MMT expert and Bernie Sanders advisor Prof. Stephanie Kelton says the government actually creates money when it spends. The real limit on spending is not an artificially imposed debt ceiling but a lack of labor and materials to do the work, leading to generalized price inflation. Only when that real ceiling is hit does the money need to be taxed back, and then not to fund government spending but to shrink the money supply in an economy that has run out of resources to put the extra money to work.

Predictably, critics have been quick to rebut, calling the trend to endorse MMT “disturbing” and “a joke that’s not funny.” In a February 1st post on The Daily Reckoning,Brian Maher darkly envisioned Bernie Sanders getting elected in 2020 and implementing “Quantitative Easing for the People” based on MMT theories. To debunk the notion that governments can just “print the money” to solve their economic problems, he raise the specter of Venezuela, where “money” is everywhere but bare essentials are out of reach for many, the storefronts are empty, unemployment is at 33%, and inflation is predicted to hit 1,000,000% by the end of the year.

Blogger Arnold Kling also pointed to the Venezuelan hyperinflation. He described MMTas “the doctrine that because the government prints money, it can spend whatever it wants . . . until it can’t.” He said:

To me, the hyperinflation in Venezuela exemplifies what happens when a country reaches the “it can’t” point. The country is not at full employment. But the government can’t seem to spend its way out of difficulty. Somebody should ask these MMT rock stars about the Venezuela example.

I’m not an MMT rock star and won’t try to expound on its subtleties. (I would submit that under existing regulations, the government cannot actually create money when it spends, but that it should be able to. In fact MMTers have acknowledged that problem; but it’s a subject for another article.) What I want to address here is the hyperinflation issue, and why Venezuelan hyperinflation and “QE for the People” are completely different animals.

What Is Different About Venezuela

Venezuela’s problems are not the result of the government issuing money and using it to hire people to build infrastructure, provide essential services and expand economic development. If it were, unemployment would not be at 33 percent and climbing. Venezuela has a problem that the US does not have and will never have: it owes massive debts in a currency it cannot print itself, namely US dollars. When oil (its principal resource) was booming, Venezuela was able to meet its repayment schedule. But when oil plummeted, the government was reduced to printing Venezuelan Bolivars and selling them for US dollars on international currency exchanges. As speculators drove up the price of dollars, more and more printing was required by the government, massively deflating the national currency.

 
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