In a broadcast from nationalized farmland in central Venezuela, he said: "To all the country's private bankers ... (I'm saying) he who slips up loses; I'll take over the bank, whatever its size."
"You want me to nationalize the banks?" he said during the broadcast of his weekly TV show "Alo Presidente."
"I have no problem with that because the banks don't want to extend credit to the poor, they don't comply, they don't want to comply with the bank's purpose for existence, and that is the law."
Chavez said the purpose of banks was not to enrich a small group of people but "should be to collect funds and savings to help aid the country's development by making loans, extending credits for housing."
In power for a decade, Chavez has nationalized broad swathes of the economy.
His banking nationalization threats on Sunday appeared to be broader in scope than his well-publicized warnings in recent years to nationalize Spanish-owned banks in Venezuela.
He repeatedly threatened to seize Spanish bank subsidiaries in Venezuela unless Spain's king apologized for telling him to "shut up" in November 2007 at a regional summit where Chavez branded a recent ex-Spanish prime minister a fascist. More here:
"You want me to nationalize the banks?" he said during the broadcast of his weekly TV show "Alo Presidente."
"I have no problem with that because the banks don't want to extend credit to the poor, they don't comply, they don't want to comply with the bank's purpose for existence, and that is the law."
Chavez said the purpose of banks was not to enrich a small group of people but "should be to collect funds and savings to help aid the country's development by making loans, extending credits for housing."
In power for a decade, Chavez has nationalized broad swathes of the economy.
His banking nationalization threats on Sunday appeared to be broader in scope than his well-publicized warnings in recent years to nationalize Spanish-owned banks in Venezuela.
He repeatedly threatened to seize Spanish bank subsidiaries in Venezuela unless Spain's king apologized for telling him to "shut up" in November 2007 at a regional summit where Chavez branded a recent ex-Spanish prime minister a fascist. More here:
Ha ha, "Don't insult me or I'll take your cash."
As a bonus, Howie, over at the Jawa report posted this little gem on Nov 11, 2009.
Communism Failing Miserably in Venezuela
Er uh, blackouts in Venezuela, really no kidding?
Via New York Times: CARACAS, Venezuela — This country may be an energy colossus, with the largest conventional oil reserves outside the Middle East and one of the world’s mightiest hydroelectric systems, but that has not prevented it from enduring serious electricity and water shortages that seem only to be getting worse.
You'd think that would be like predictable given the past performance of heavily communist policies in the past?
So look kids, this is the ordinary result of communism. I know a lot of the youngsters don't remember the actual result of severely restrictive communist economic policy. So yes I'm sure it seems so glamorous in class, but this is the hard real world reality of it. Sorry to bust your little neo-commie bubbles.
Ha ha, yeah ... also, how you likin' that 30% inflation this year ... and Chavez taking over the radio/TV stations. Sweet, huh?
Of course, at the rate Obama and the democrat congress are spending/printing money we'll be right behind you.
Of course, at the rate Obama and the democrat congress are spending/printing money we'll be right behind you.
From this article at the Wall Street Journal:
The budget more than doubles the national debt held by the public, adding more to the debt than all previous presidents -- from George Washington to George W. Bush -- combined.
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