Archive for July, 2003

More Posters

July 20, 2003


More Posters

July 20, 2003


All sorts of people were at the march

July 20, 2003


Friend                                                           Lady waving flag



This guys seemed from a century ago                               Another friend

As usual, pretty women everywhere

July 20, 2003

Opposition takes to the streets again

July 20, 2003

 



Despite heavy rain throughout the initial hour of the march, the people of Caracas retook the streets of Caracas today in a march/rally named the “The reencounter” called by the opposition in order to begin “heating up” the streets ahead of the magical date of August 19th. when the opposition will be able to submit a petition for the referendum. The rally was huge and while I would have saved energies for August 19th. it showed that the opposition can easily get people back into the streets. In fact, I think that once Aug. 19th. comes around, the amount of people willing to take to the streets in protest will increase significantly, people are simply fed up. In fact, recent polls by well reputed firms, show that the strategy of focusing on the problems rather than Chavez himself is paying off, Chavez’ popularity is down to 25% of which only 10% is considered to be hardcore. More pictures under Pictures and Posters.

Opposition takes to the streets again

July 20, 2003

 



Despite heavy rain throughout the initial hour of the march, the people of Caracas retook the streets of Caracas today in a march/rally named the “The reencounter” called by the opposition in order to begin “heating up” the streets ahead of the magical date of August 19th. when the opposition will be able to submit a petition for the referendum. The rally was huge and while I would have saved energies for August 19th. it showed that the opposition can easily get people back into the streets. In fact, I think that once Aug. 19th. comes around, the amount of people willing to take to the streets in protest will increase significantly, people are simply fed up. In fact, recent polls by well reputed firms, show that the strategy of focusing on the problems rather than Chavez himself is paying off, Chavez’ popularity is down to 25% of which only 10% is considered to be hardcore. More pictures under Pictures and Posters.

Gen. Garcia Carneiro insolent remarks

July 20, 2003

 


Gen. Garcia Carneiro the Chiefs of Staff of the Venezuelan military gave today statements that go beyond his responsibilities and duties and should not be allowed of a high ranking General. Garcia Carneiro, who is a strong Chávez loyalist, said today that the referendum will not take place this year because the signatures collected by the opposition are not valid, there is no CNE, the electoral registry has to be audited and people have to be trained and the electoral material printed. The General’s statements are first of all unbecoming of someone that is not supposed to get involved in politics, second, he does not represent the powers that are supposed to rule on matters such as whether the electoral registry is adequate or not or whether the question in the opposition’s question is valid or not. Finally, Gen. Garcia Carneiro should be reminded that the Constitution says that the recall referendum has to be submitted and if it meets the requirements has to e held within 90 days. There are not whether, ifs or ors, it has to be held. Moreover, there is a functioning Electoral Board in Venezuela which can process the opposition request for the recall referendum and do everything except hold the referendum because the Electoral Hall said in January that it could not hold an election until a new one was elected. However, it is not clear, at least to me whether the opposition can not submit an injunction to the Constitutional Hall of Supreme Court asking that the rights of the people are above the technicalities invoked by the Electoral Hall to stop the current CNE from holding an election. Finally, Garcia Carneiro seems to forget that the Supreme Court has already ruled on the petition gathered by the opposition, saying that those signatures were valid. The only question at this point is whether the question itself is valid or not. It would also appear that the General’s statements violate the agreement signed by the opposition and the Government under the supervision of the OAS and the Carter Center on finding a solution to the Venezuelan political crisis.

And more corruption at the highest levels

July 20, 2003

On Friday the Venezuelan Governemnt announced that it would buy back up to US$ 2 billion in debt isntruments issued by the country. The issues to be repurchased are those that are due before 2007 and does not include the so called “Global” bonds which expire in 2018 and 2027.


Earlier, the Minsitry of Finance had sold the portfolio of these same bonds held by a Government bank, Bandes, to two minor brokers, one in New York and another in Venezuela. This operation, for as much as US$ 400 million has been in the news because in it the Minsitry of Finance used these two brokers to “swap” notes with the Government bank via these two brokers. This suggested that these transactions were made simply to have someone make a commission in them.


What is interesting is that now the Governemnt is buying precisely the issues that the Government’s bank had sold into the market, suggesting that this may have been simply front-running of the buyback operation. In fact, Bandes sold mostly the issues that will be repurchased, holding on to the ones that will not be. If these two brokers held on to their positions, not only will they be able to amke a lot of money, but having one third of the outstanding bonds eligible for the Dutch auction, they will control at what price it will be done. At today’s prices we are talking about 17 point above the price they paid (They paid near 80%, auction price should be 86-88%) Clearly, if the Ministry of Finance was planning this repurchase, why did it allow Bandes to sell these bonds? They are either very stupid or extremely corrupt. To me it is very clear which of the two it is……

Clear case of corruption by Chavez

July 20, 2003

Friday night, President Chavez ordered a nationwide TV address to broadcast the swearing in of the highest authorities of his party. Thus party and Governemnt are merged into one in what is clearly a case of corruption and inmorality by the President hismlef. Where is the Attorney General? This is the type of abuse of power and blatant corruption going on in Venezuela. Who can defend this?

Clear case of corruption by Chavez

July 20, 2003

Friday night, President Chavez ordered a nationwide TV address to broadcast the swearing in of the highest authorities of his party. Thus party and Governemnt are merged into one in what is clearly a case of corruption and inmorality by the President hismlef. Where is the Attorney General? This is the type of abuse of power and blatant corruption going on in Venezuela. Who can defend this?

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