Sticking it to the Washington Consensus

posted by The Vidiot @ 7:48 AM Permalink

Chavez is formally pulling out of the World Bank and International Monetary Fund.

Excerpt: Chavez said he wanted to formalize Venezuela's exit from the lending institutions which he said are to blame for continued poverty throughout Latin America. He reportedly plans to create a lending bank run by nations in the region.

For those of you who have been reading this blog for a while, you know that I believe that the WB and IMF are just tools of the banktocracy/corptocracy to force Western hegemony onto the rest of the world. For Chavez to formally withdraw and form a Latin American version of the Washington Consenus is quite amazing really. There can be no more doubt that Western hegemony is falling apart.

Update: He's also selling off his US refineries and plans to build a Latin American network of refineries. He's also proposing a regional bond program to raise money for social programs. Wow. This guy is a one-man destroyer of the prevailing hegemonic order.

Labels: chavez, hegemony, IMF, venzuela, world bank