Monday, 16 March 2009

Venezuela Seizes Trawl-Fishing Vessels, Donate Them to Cuba -- What The Hell is Going On There?

Que tipejo odioso!

The Bolivarian Revolutionary government of Venezuela (which is nothing else than an inflamatoryproto-state trying to spark serious geopolitical imbalances in the region by welcoming Russian fighter jets and vessels) banned trawl-fishing on March 14, citing no reasons. At this point, nationalisations and confiscations need no reason -- Mr. President thinks the country of 29 million is an extension of his family's farm in Barinas state. Venezuela is the first country in Latin America that is actually banning trawling -- saying it harms small fishery. Yesterday the government of President Hugo Chávez decided to take over 30 trawlers and donate them to a fishing and food joint venture with Cuba. According to Bloomberg, 70 percent of the country’s fish are provided by small fishermen, while trawlers mostly catch shrimp for export -- ah! the president was the source of that info (he is an endless source of data that always fits for his distorted view of things.)

We insist that the president will step up his policy of confiscations and nationalisations in the food and, next, the banking industries. Why? Food is scarce and inflation is rampant. He probably sees the food industry as the most likely next sector through which his enemies would try to oust him -- by hoarding food or raising prices. A Castro-fueled paranoia. Chávez's cowardice knows no limits -- he has been impoverishing his own populations by squeezing businesses and forcing the cost of goods higher through his policies. Banking, we see banking as another target, because the crisis will force banks to cut credit. And he can't afford that -- a decline in credit. But we also believe that the policy of paying for nationalisations may have to be reconsidered if the drop in oil windfalls is too dramatic and the deterioration of PDVSA finances deepens.

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