Posted on 12/05/2006 6:46:33 PM PST by george76
Venezuelan President Hugo Chavez on Tuesday stepped in to help his leftist ally Argentine President Nestor Kirchner by bailing out an Argentine firm to prevent its purchase by a fund involving billionaire investor George Soros.
Chavez, whom Kirchner wished good luck before his landslide re-election on Sunday, said he would lend $80 million to Sancor, a struggling private cooperative dairy sought by Adecoagro, a fund in which currency speculator and philanthropist Soros has a stake.
"The capitalist magnate wanted to buy it out. Now I have signed the first part of the deal. We are going to issue credit of $80 million," Chavez told a news conference.
The move is a further sign of Chavez using his abundant oil earnings to forge an alliance of leftist leaders across Latin America, fighting what he sees as the evils of capitalism.
Chavez said an unspecified portion of the loan would be repaid in milk powder and advice on designing dairies -- in line with his other regional deals.
Venezuela already sells discounted oil to Argentina...
(Excerpt) Read more at today.reuters.com ...
It's stuff like this that make me wish oil would just become obsolete already!
I wish Soros would take a trip to Venezuela.
Modern finance baffles me.
He needs us a lot more than we need him.
advice on designing dairies ...?
If only we used that leverage.
A use for Chavez: maybe he can help us ward off Soros.
Very few countries in the world are willing or able to refine Venezuelan oil due to the high sulfur content. We're their biggest buyer and we have the leverage if we're willing to use it. I'm willing to pay a bit more at the pump if it means Hugo has to suffer a bit.
If Chavez is against george Soros he cant be all bad.
Cheer for both sides to have a protracted and extremely costly fight. By the way, how does the Venezuelan budget work? Do they just keep an account for Hugo to dip into whenever he feels the need to show off for his pals?
Soros backed the "other guy" in the latest election.
Cheer for both sides to have a protracted and extremely costly fight...
Thanks
Soros backed the "other guy" in the latest election.
Joseph P. Kennedy II beneath a Venezuelan flag.
Kennedy characterizes his complicity with Chavez's anti-US propaganda gimmick as "morally righteous." Falling back on the relativism that has replaced the notion of right and wrong in liberal minds, allowing them to excuse any abomination, he dismisses concern for Chavez's totalitarian tendencies by smirking that there has been "ample room for improvement in the ways that people get elected in Venezuela as well as in Florida."
I agree with you. Chavez is a pretty idiotic guy, but he's a pipsqueek of evil compared to Soros.
If one is looking for an anti-Christ then Soros will do until someone better comes along.
I'd sure like to know a couple of sure fire ways to visit real hardship on that SOB.
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