The Bourgeois class has extensive international connections: Hugo Chavez

 

May 10, 2010 (Hamsayeh.Net) - Venezuelan President Hugo Chavez blamed bourgeois class for the growing financial crisis in the country including runaway inflation and weakening national currency, the bolivar.

 

‘We need to stop this right now; we need to smash speculation as the bourgeoisie do not listen to appeals to their conscience. Let's act with a firm hand,’ Chavez addressed the Cabinet on Saturday.

 

Like all other developing countries Venezuela also suffers from market manipulation schemes in the hands of US or Western backed business people who thrive on destabilizing the market for greater political and economic profits. Venezuela has been experiencing higher inflation figures this year up by 5 percentage points. The Bolivar also lost value against US dollar from the official rate 4.3 to 8 bolivar for one US dollar.

 

Citing money exchangers, business groups and bourgeois as the main culprits behind Venezuela’s economic troubles, Chavez said, ‘I warn them: we are not going to be pushed around, we make an effort to raise salaries ... then immediately the capitalists raise everything, food, transport, clothes. They're trying to cause problems and we won't allow it.’

 

The Venezuelan President explained how the financial mafia was so internationally entrenched that even trying to boost the value of bolivar against other currency would be ineffective. ‘Because the bourgeoisie and those in charge of the trading houses, the private banks and so on, they know everything, they've been involved in this all their lives, they have international connections,’ Chavez said.

 

Although the global financial markets today is experiencing an unprecedented crisis caused by US-led casino capitalism, other developing countries try hard to limit exposures from threats posed by the current Western induced recession..

 

According to Chavez, capitalism was bringing down Europe and the United States. He urged the country to device plans that would stop threats of capitalism before it becomes too late.