No, its not President Obama. Yet.
…Harried by recession and sliding popularity, Mr. Chávez on Friday weakened the bolivar to 4.3 per dollar from 2.15 in a bid to shore up government finances, which have been hit by weaker oil prices, and to stimulate economic growth ahead of key elections….
Yet another socialist. Yet another hero to the American left. Yet another corrupt, crooked tyrant. Its a story which has been told far too many times. You’d think, after a while, our domestic leftists would figure it out, but they never do. While Chavez has put in some cosmetic protections for the poor, the plain fact of the matter is that he’s just stolen half the wealth of Venezuela’s poor – the people he, and other socialists, always claim to be for. And, as with all other socialist regimes, it is the poor who fare worst.
The trouble for us is that the Federal Reserve has been printing money like mad and using it to buy bonds and worthless assets from banks. Each dollar the Fed creates out of thin air is essentially a dollar stolen from the people – because each dollar in hand (and representing actual work to earn it) now becomes worth that much less. Will this kick in to massive inflation? So far, no – but only because the world is in such a deep economic down spin that the inflationary effects have been muted. But our money has been stolen, and eventually it’ll have to balance out somewhere.
For nearly a century now we’ve tried to funny-money and usury our way to riches. Well, it hasn’t worked. All its done is pile up a mountain of debt, benefited financial sharks (like the left’s other hero, George Soros) and screwed the average person out of their wealth. Its time to bring an end to this – before Obama takes a cue from Chavez, and picks our pockets.