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Chavez takes on Venezuela's central bank
As usual, Chavez is one step ahead of the money masters.
In addition to proposing some fundamental changes to Venezuela's Constitution (to eliminate current limits on his re-election and extend presidential terms), Hugo Chavez recently proposed "ending the autonomy of Venezuela's central bank, [giving] him access to billions of dollars from the bank's reserves."
Chávez pushed through a new constitution in 1999. But he said the charter must be redrafted so that Venezuela's capitalist system "finishes dying" to make way for socialism.
His political allies firmly control the National Assembly, which could approve the changes within months. The plan then would go before citizens for approval in a national referendum.
If Chavez succeeds, it will set an amazing precedent for the rest of South America, and for North America too.
You can expect Wall Street to turn up the heat against Chavez in the coming weeks and months.
This means war.