Hey, Chavez: Want to confiscate all the repatriated money?

Posted Jan 27th 2008 4:40PM by Aaron Katsman
Filed under: Rants and Raves, Politics

News that Venezuelan dictator Hugo Chavez urged his Latin American allies on Saturday to begin withdrawing billions of dollars in international reserves from U.S. banks, warning of a looming U.S. economic crisis, begs the questions: Is Hugo an astute financial planner who feels the need to preach global diversification, or is his ulterior motive, to confiscate these reserves.

"We should start to bring our reserves here," Chavez said. "Why does that money have to be in the north? ... You can't put all your eggs in one basket." That sure sounds like it's a direct quote from a financial planning 101 course.

Of course many would postulate that Hugo is just trying to stir up trouble, as good dictators are wont to do. With the recently launched ALBA -- Bolivarian Alternative for the Nations of Our America -- organization sure to be an economic powerhouse, with such countries as Nicaragua, Bolivia, and Cuba, and the newest addition, the Caribbean island of Dominica, should Hugo's neighbors to the north be worried?

Would you be worried if Dominica pulls reserves? If I was Dominica I would be worried that Hugo is setting you up to raid the purse of ALBA and confiscate all your hard earned money. Dominica, watch out!

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer has no positions in any stock mentioned as of 1/27/08

Tags: ALBA, Hugo Chavez, inthenews, socialism

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Reader Comments (Page 1 of 1)

1-27-2008 @ 5:16PM

Boards0000000 said...

It's their money they should invest it where they see fit.

1-27-2008 @ 6:56PM

John said...

You freakin' moron, he is not a dictator. he was elected by the majority of the people in Venezuela, a very healthy, vibrant democracy.

He has never violated the constitution of his country.

To people in South and Latin America, you sound like a dunce. All you are doing is making Chavez look good to them, not bad.

Chavez does not like George Bush. OMG, what a loner.

1-27-2008 @ 6:58PM

F Reid said...

Wont. "as good dictators are wont to do."

http://dictionary.cambridge.org/define.asp?key=91129&dict=CALD

otherwise good writeup. methinks chavez is getting lohan envy and does this periodically to reclaim the dim spotlight.

cheers!

1-28-2008 @ 2:06AM

Mike Sanders said...

Chavez does not have the best interests of the US, his own people, or himself, in mind... He's a renegade politico, which ought to pipe-down, before he starts something which he cannot possibly control. If he doesn't pay attention, he's might end up on the wrong end of a US cruise missle... Not a pretty sight, but what he's advocating would ultimately kill millions of people in Central and South America, due to starvation and a failed economic mentality. Chavez is history, regardless of how it happens.

1-28-2008 @ 4:16AM

bob t said...

long live hugo chavez may the allmighty father guard and protect his footsteps.the americans only respect people that they can controll and dominate.the caribean is not the hotel for the american empire.this people never cared about us unless we were serving them at there vacation tables this wickedness must stop and it will stop..