Monthly Archives: November 2008

Populist Latin American Governments Cooperating to Gain Independence From the Dollar

I’ve recently gotten several news reports of important developments that signal both greater independence for Latin America and a further weakening of the dollar as the dominant world currency. Here are some excerpts and links. -t.h.g.

7 countries talk single currency, Venezuela calls for IDB exodus

Seven countries, including two Caribbean islands, signed a document today paving the way for the establishment of a single currency among them, Cuban state media reported today.

The political leaders of Venezuela, Bolivia, Honduras, Nicaragua, Ecuador, Cuba and Dominica issued a final Declaration on Wednesday that gives a green light to the creation of a single currency, called the Sucre, that will initially circulate virtually, Granma said.

Another report on the meeting had this to say:

“We will leave the Inter-American Development Bank and we will make our own bank, a bank that we ourselves manage,” said Chávez.

Rafael Correa, the president of Ecuador, asked for support from ALBA member countries as he seeks international tribunals to relieve Ecuador of debt incurred by past governments which operated according to the values of U.S.-dominated international financial institutions.

And a related story reported agreement talks between Russian and Venezuelan leaders:

Talks in Caracas between Russian President Dmitry Medvedev and his Venezuelan counterpart Hugo Chavez have yielded a host of bilateral agreements.

“We have discussed with President Chavez the use of the national currencies, the ruble and the bolivar, in bilateral payments,” Medvedev said at a news conference in Caracas.

The two countries also agreed to sign another intergovernmental agreement to set up a joint bank within the next two weeks, Medvedev said.

The joint bank could become an instrument to finance projects in Russia and Venezuela, and will handle payments for oil supplies and will involve Gazprombank, Russia’s third-largest bank.

The Russian president said Moscow and Caracas could switch to national currencies in bilateral payments.

My 2 Minute Elevator Speech

I’ve added to this site my “Two Minute Elevator Speech About Solving the Money Problem.” You can find it under My Audio-visual presentations in the list at the right, or just click here.

Report from the field – Koh Phangan 2

Another report on my recent experiences in Thailand, a few ideas, and comments on the recent US Presidential election, nonviolent communication, social organizing.