Inflation of Venezuela’s currency has reached 720% with 100 bolivars fetching in exchange for U.S. currency only 5 cents. The Washington Post provides in vivid detail the state of economic shock that nation is experiencing. People are exchanging massive quantities of ‘bolivars’ for a mere pack of smokes, sometimes exceeding 2500.
As dismal as the economic state of Venezuela is, we shouldn’t be pressed to consider the notion that economic disorder could happen here – right?
Here are a few things to think about first before we answer that question:
- The President of Venezuela, Nicolas Maduro, has made the claim that the U.S. is responsible for causing the economic turmoil his nation now faces.
- As is evidenced by the historical record, the Central Intelligence Agency (CIA) has repeatedly influenced foreign elections through underhanded methods and has even gone so far as to overthrow personages of power that do not bode well for their objectives. Take for the former the example of Italy’s 1948 elections – documented by Tim Weiner (among others) in Legacy of Ashes, when the CIA poured cash into pro-catholic accounts of those most capable of educing a favorable election result – to fight “communism”. For the latter take the example of Mohammad Mosaddegh, the once democratically elected Prime Minister of Iran who was put in the crosshairs of the CIA’s Operation AJAX because he began to retake control of his nation’s oil (among other things). So it is possible that Maduro is the target of a coup. But we simply don’t know yet.
- As reported by The Nation, Maduro’s regal incumbency has been detested by the White House as an issue of national security. The result of this has stewed foreign-banker aversion from financially aiding Maduro. In other words, international tensions have played a substantial role in hurting Venezuela’s economy.
- William Blum, author of Killing Hope, has skillfully reconstructed the history of many international coups and sundry crimes of the U.S. intelligence apparatus stating:
“Jacobo Arbenz, Cheddi Jagan, Fidel Castro, João Goulart, Juan Bosch, Salvador Allende, Michael Manley, Maurice Bishop, Daniel Ortega, Jean-Bertrand Aristide, Hugo Chávez … all Latin American leaders of the past half century, all progressive, all condemned to suffer the torments of hell for their beliefs by the unrelenting animosity of the United States.”
Mind you that Chavez was democratically elected as president of Venezuela in 1998 and subsequently ousted by an opposition that did not represent the majority in 2002. The U.S. did not even flinch at this insult to the ideal of “democracy”.
So after that smattering of facts one must ask if economic chaos is induced or a fluke of history. When I cogitate the latter I am inclined to refute the notion altogether once I recall the litany of instances that scream conspiratorial manipulation of markets, currencies, and politics. There are accidents, but often enough economic or political turmoil results from the whims of intelligence apparatuses and foreign governments. Even more so now since 4th generation warfare requires economic, social, political, and psychological modalities of war in addition to the originals.
Can it happen here? You bet.
To be continued…