already announced his pro-
gramme, the privatization of
nationalized companies (such as
electricity, steel, telecommu-
nications, cement etc) and also the
privatization of expropriated landed
property; the opening up the oil
industry to foreign Multinational
corporations at very favourable
terms. Mass lay off of public sector
workers; privatization of health and
education sectors. Perhaps this is
an open programme of reaction on
the social and economic field.
Guido has the support of a sizable
number of multinational corpo-
rations, landed estate holders,
oligarchs and pro-US elites mainly
white racist sections of Venezuela
society.
The U.S intervention is a clear
and flagrant violation of inter-
national law and an act un-
acceptable interference into the
affairs of a sovereign nation. This
is an extremly serious development
of US long standing strategy of
aggression towards Venezuela
since 1998. The US imperialism has
tried to oust the democratically
elected Govt. of Venezuela ever
since Hugo Chavez was elected
president in 1998.
Although American Presidents
used to claim to defend democracy,
their (US) intervention usually led
to military dictatorship, massive
loss of life, chaos and anarchy, and
also subjugation of economy to U.S
imperialism’s interest. So the truth
is nothing about democracy but it
is about US trying to control and
make vast profit from the natural
resources of these economies.
Those countries which have not
subugated and defended their
sovereignty are hunted.
Here it is stated that with the
dawn of 21 st century US imperialism
emerged as the sole hegemonic
power. Countries like Iraq, Iran,
Libya, Syria, Yemen, North Korea,
Cuba & Venezuela were declared
as rouge states and evil players in
Feb, March - 2019
the contemporary global politics by
the US imperialism. These
countries are mostly oil rich nations
and didn’t come into terms with US
dictation. It must be mentioned that
with slowing down of American
economy, dollar loss its credibility
as an international currency of
exchange in the 70s of last century.
The then president of USA Nixon
came to an agreement with Saudi
Arabia Rulers in 1973 to rescue
American economy. This agree-
ment was popularly known as
petro-dollar agreement. The basis
of which was that Saudi Arab to
export petrol to rest of the world
only in dollar currency and in
exchange US exports arms and
provide security to the Saudi
Arabian Crown. Later most of the
oil rich nations became part of the
agreement under pressure from
US imperialism and thus fell prey
to US game plan. Whichever
country tried to undermine this deal
was faced the wrath of US
imperialism. Once it was Iraq, then
it was Libya, Yemen, Syria, now it
is Venezuela and Iran. To save its
economic hegemonies, US
imperialism had used its military
supremacy many a times over the
defying nations. People of world
saw many of such devastating civil
wars in past 20 years.
After Chavez coming to power,
his Govt. nationalized all the oil
fields which were previously under
the Oil multinational corporations:
exporting petrol to subsidise
education, health and food for all
programme. Today Venezuela
state-owned oil company PDVSA
keeps a controlling stake in any
joint venture with Energy Company.
Venezuela
also
gradually
strengthened its economic, military
and diplomatic ties with Russia &
China undermining the US interest.
In the last 20 years US tries its best
to topple the Venezuela’s legitimate
Govt. first Chavez, now Maduro. US
imperialism doesn’t want to see the
growing presence of other
economic and military powers on
its backyard.
The GW Bush administration
triggered a coup in 2002 against
Chavez which failed miserably due
to the overwhelming support of
working masses and Indigenous
population of Venezuelan society.
The Obama Administration
tightened the screws with economic
sanctions on Venezuela’s vital oil
industry which precipitated the
countrie’s current social crisis and
discontent. These economic and
financial blockades are prelude to
military intervention. According to
Latin America Geopolitical strategy
center (CELAG) the financial and
economic blockade and boycott
that was mainly promoted by United
States and enforced by its allies
would have cost Venezuela around
22 billion dollar annually between
2013 to 2017. Since Venezuela is
highly dependent on imports which
are normally paid with the income
of petrol oil export, these boycotts
and blockade have a grave impact
on its economy and are mainly
responsible for economic and
humanitarian crisis including
today’s refugee crisis. Apart from
it the steady decline of world oil
price has also its negative impact
on the Venezuela economy.
On the other side greater part
of Venezuela’s domestic economy
basically food chain (from local
production to import from outside
to supermarket stores) are
depended on multinational corpo-
rations such as Empresas Polar (a
Venezuelan subsidiary of Pepsi Co)
which controls 50 to 60 percent of
pre cooked corn flour. Along with
this white inheritors of old
plantation system which controls a
substantial part of country’s food
system are also responsible for the
present food crisis and high prices
of food items.
Considering all these, an US
contd. on page 12
induced
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