Hugo Chavez's first and only priority is to socialize Venezuela's economy, he will push to nationalize industries, seize property and weaken central bank independence using his control of all 167 seats in congress and the 32-member Supreme Court...Will he succeed ?...will he resort to radical solutions to get what he wants ....!
The opinion of most people and goverments is that Chavez is quite "louco", perhaps the Venezuelan population have finally waken up...!
The key issue for Venezuela is oil revenue, if oil revenue drops for whatever reason and Chavez can't hand out goods, things will look very bad..
A ban on foreign-exchange trading that Chavez imposed in 2003 means businesses and individuals now pay almost three times the official rate of 2,150 bolivars in the black market, or about 6,100 bolivars per U.S. dollar. The ban sparked a surge in the cost of imports and worsened shortages, forcing the government to limit sales of rice, oil and sugar. This really is ridiculous, Venezuelans now have to wait in line for more than an hour to buy meat at a Central Madeirense CA supermarket in Caracas... will they get used to this ? will they keep supporting Chavez.!..
There is sufficient turbulence in the international crude market we dont need more turbulence..
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