Financial Earthquake on the Spot, Warns Chavez
Chavez said the mortgage crisis in the US "could lead to a [...] global fiasco and widespread misery, hunger and severe unrest. The US government is to blame," he noted.
"We aren't only talking about the invasion of Iraq, Afghanistan, the attempted coup in Venezuela, or other threats against the world, now it's the economic situation," added Chavez.
The Bush administration "has had to inject $300 US billion into the private banks this month to avoid a collapse of the dollar and the world economy [...] And they talk about investment security and have the gall to call us high risk countries and that governments shouldn't intervene in economics."
"The dollar is going down, they don't see that it isn't supported by reality," said Chavez, arguing that the US has been printing money without backing, "because its [annual] fiscal deficit is the biggest in history, and of all countries totally some $500 billion US."