Banco del Sur is a Slush Fund for Sponsors of Terror, Drug Running, Criminals, Mafias, Racketeers and Propagandists

October 26, 2007   U.S. President George W. Bush recently stated about Cuba, "We will know there is a new Cuba when opposition parties have the freedom to organize, assemble and speak with equal access to the airwaves. We will know there is a new Cuba when a free and independent press has the power to operate without censors. We will know there is a new Cuba when the government removes its stranglehold on private economic activity. Above all, we will know there is a new Cuba when authorities go to the prisons, walk to the cells where people are being held for their beliefs and set them free. We will not support the old way with new faces, the old system held together by new chains." Read this stirring talk here.  
 
Bush correctly insists that there is no benefit whatsoever to those who seek engagement with the dictatorship. That means...no manipulations and no revisionist history on the horror that is Castro's Cuba is welcome. What does this mean for Ecuador whose own president Correa has publicly stated his devotion and allegiance to Fidel Castro's island of horror? To any who are honest- and there are only a few left now- this means that Ecuador is known as an ally of Castro's tawdry and ruinous island gulag and is also an ally of Chavez's ruinous nation building block and is an ally of Iran's cult like militant Mullahs who indeed seek the end of democracy and western civilization. Do you know what your foreign policy is? Have you reviewed Correa's formal agreements with Chavez and Ahmadinejad yet? No- we didn't think so. You are not permitted to lift the veil on their secrecy. And that is unacceptable, if you have forgotten.
 
In the next two weeks, agents from the Chavez government and Soros-backed NGOs [using the phrase loosely] will unveil their new plans for Banco Del Sur. With no legitimate bank charter and no intentions whatsoever to perform as a development-investment bank, Banco del Sur should be denounced on arrival for what it is. And what it is ...is a slush fund for criminal racketeering, money laundering, mafia thugs and propagandists for the New Man of the New World Order.

Crime of this magnitude is not new, it is not manly, and it is not order. What it is however is a composite of the worst forms of undemocratic acts of repressive economic fascism with a singular focus to bribe and cajole regional militaries and so called political leaders [off the books] in to a regional blockade on functional financial performance, ceding all common ground on legitimate financial performances to a singular and extremely dirty Chavez-backed slush fund.

We know this because Hugo Chavez is adding more and more requirements to his latest full powers act, sometimes called constituent constitutional assemblies. In return for a 30 hour work week at full pay, Chavez promises to remove any autonomous Central Bank and hold full control over all of Venezuela's government. He does anyway if any cared to look. Chavez controls the military, the paramilitary, the courts, the Congress, the media and now all financial institutions.
 
Meanwhile, our utterly disreputable man on the job, always shilling for his real boss from Chile who now works as a consultant for George Soros, tells us that as long as Chavez pretends that he has actual opposition political parties, Chavez is just all right with the OAS and is doing a great job. Insulza, you see, is enabling Chavez's dictatorship and his ruinous Banco del Sur because it will weaken the World Bank-InterAmerican Development Bank demands for globally accepted transparency and operational funding. Chavez and Insulza think this is a good idea. This is not a good idea and as such legitimizes criminal rackets whose dirty monies are deep and wide now. Read what Insulza says about Chavez's new fascist governmental plans here.
 
Ignoring the Catholic church, human rights groups, citizen groups- and the truth- in Venezuela and all normative standards for legitimate governance, Chavez's paid clowns justify the Chavez end to free speech in Venezuela by repeating their manipulative mantra.." .`Restricting information isn't restricting the people's right to be informed,' pro-Chávez lawmaker Desirée Santos Amaral said. `It's avoiding abuses, excesses.'''  And Insulza puts the frosting on this cancer producing cake by telling us he is "concerned" about the many Chavez constitutional installations now dividing South America in to two regions: one with Chavez already, bought and sold and the other struggling with the enormous bribery to buy their souls also. The HERALD reports, "But Insulza downplayed concerns that proposed changes in Venezuela would lead to the establishment of a Cuba-style single-party state, saying Chavez `is not saying anything about eliminating the parties in opposition.'" Insulza is a liar. He was never more than a useful Chilean functionary for his socialist president, third rate at that. Today his ruinous approach to democracy is paving the way to hell for Latin America. Insulza knows very well that Chavez permits so called opposition in Venezuela for window dressing- in name only- function. There is not one meaningful voice permitted in Chavez's replica of Castro's prison gulag now. To claim otherwise, as Insulza does, is ethically irresponsible and shows how degenerated he has become. Insulza's crime is not that he prefers to remain uneducated: he is surrounded by advisors constantly ranging from Chris Dodd's staff to the total panoply of the Soros pro Chavez, anti Uribe forces of chattering NGOs. Insulza seems to believe that their assessments hold more value than the oath he took of his high office and does now jigger democracy's tenants to maintain the onward march of Chavez's socialism-communism-economic fascism- Bolivarianism...call it what you will but never call it democracy or legitimate, for it is not.
 
Banco del Sur is presented as a legitimate development fund. It is called a bank. It is not a bank and it is not legitimate. The first thing about a bank- any bank- is integrity and reporting of facts. Chavez will not permit the facts about his Russian money men, his Iranian movers and transporters nor his money laundering, sometimes called offshore derivatives gambits. One cannot legitimize what is not legitimate.
 
Yesterday, the Secretary of the U.S. Department of Treasury announced an embargo of sorts against the illicit banking practices of Iran's face of its government: its banking and military purchasing arm of Iran's combined military-banking complex, unseparated in practice or by law, which is uncommon in today's world except in Cuba, Venezuela, Zimbabwe, North Korea and increasingly again-Russia. No checks on central power means no transparency, no contract or rule of law, no free speech, no factual analysis because facts are forbidden and no independence of human rights or citizen legal rights.

Venezuela and Cuba have a combined financial-military structure. So too will Ecuador before March, 2008 under the Correa-Chavez plan.
 
The U.S. Treasury [read their Report here] stated yesterday: " The Financial Action Task Force, the world's premier standard-setting body for countering terrorist financing and money laundering, recently highlighted the threat posed by Iran to the international financial system. FATF called on its members to advise institutions dealing with Iran to seriously weigh the risks resulting from Iran's failure to comply with international standards. Last week, the Treasury Department issued a warning to U.S. banks setting forth the risks posed by Iran. (See the text of the Treasury Department statement here.) Today's actions are consistent with this warning, and provide additional information to help financial institutions protect themselves from deceptive financial practices by Iranian entities and individuals engaged in or supporting proliferation and terrorism." The U.S. Treasury report on Iran also stated that Iran's governmental arm- its military and its elite QODS forces are now blacklisted "for providing material support to the Taliban and other terrorist organizations, and Iran's state-owned Bank Saderat as a terrorist financier."
 
Iran continually fails to comply with international standards and engages in deceptive financial practices and supports proliferation of terrorism.

Today the same can be said of the Chavez bloc of five nation states.
 
Deceptive financial practices may sound acceptable to Ecuadorean bankers which continue to hold no money launderer at bay. Rafael Correa welcomes deceptive financial practices and intends to continue to welcome any murky money man he can find while continuing to serve as Chavez's bag man in the Ecuadorean corridor of the Andes. Correa will install identical total controls over all of Ecuadorean life following Chavez's total grip.

Deceptive financial practices are the norm under Chavez-Ahmadinejad while military-economic separations have merged with no meaningful distinctions.
 
There is no legitimately acceptable banking with centralized, enshrined practitioners of deceptive financing.
 
The U.S. House of Representatives' 1912 hearings of the House Banking and Currency Committee, Testimony before the Money Trust Investigation (page 92), commonly called the Pujo hearings, laid out an ironic benefit to the end of the trust era in the global financial realm by enshrining Pierpont Morgan's unintended banking credo which holds today. As Samuel Untermyer asked, "is not commercial credit based primarily upon money or property?" Pierpont Morgan replied, “No, sir, the first thing is credit." Untermyer quizzed..."Before money or property?" To which Morgan stated, "Before money or anything else. Money cannot buy it....Because a man I do not trust could not get money from me on all the bonds of Christendom."
 
Trust depends on accountability and full faith disclosure. Credit is the seed bed to any economic growth. Today this practice of trust and verification, which does not now exist in Ecuador or Venezuela and certainly not in Cuba, is called "know your client." The burden is placed - by caveat and by law- in normal nations for all businesses and bankers to perform due diligence.
 
U.S. Treasury Secretary Paulsen stated yesterday, "Iran exploits its global financial ties to pursue nuclear capabilities, develop ballistic missiles and fund terrorism. Today, we are taking additional steps to combat Iran's dangerous conduct and to engage financial institutions worldwide to make the most informed decisions about those with whom they choose to do business. The Iranian regime's ability to pursue nuclear and ballistic missile programs in defiance of UN Security Council Resolutions depends on its access to the international commercial and financial systems. Iran also funnels hundreds of millions of dollars each year through the international financial system to terrorists. Iran's banks aid this conduct, using a range of deceptive financial practices intended to evade even the most stringent risk-management controls. In dealing with Iran, it is nearly impossible to know one's customer and be assured that one is not unwittingly facilitating the regime's reckless conduct." Because Iran is deceptive and because the global financial community cannot "know" Iran for its multi tiered deceptions, Iran cannot be trusted and is now being cut off.
 
When it is impossible to ` know your customer' or when as a government there is no interest at all, there are consequences because there is no trust, no disclosure and no legitimate credit. Tragically, Hugo Chavez's Banco del Sur seeks to remedy the demands of legal banking and refuses to know anything about his customers, his financial backers and intends to increase their financial share of the global criminal empires they serve.
 
Secretary Paulsen is correct to state about Iran, "these actors should find no safe haven in the reputable world of finance and commerce. The UN Security Council has required member states to freeze the assets of, and prohibit persons from doing business with, a number of entities and individuals supporting Iran's nuclear or ballistic missile activities, including Iran's state-owned Bank Sepah."
 
Although Hugo Chavez and his bloc-member minions will soon alter what we call Central Banks and chartered banks in to one giant, open unaccountable wallet for his criminal adventurism and bribes, sometimes called political and military expenditures, what remains is that state sponsors of terror and their money is not welcome and will be frozen.
 
Know your customer. And more importantly: know your government. Today you have no choice but to grow up and act responsibly before the tin curtain of tin pot dictators descends for good.
We remind that Iran's military-financial complex, beholden only to cult like Mullahs of global terroritorialgrabbing plans, sustain not only massive propaganda efforts but also large standing armies, many of both are currently winging in and out of Caracas. The WALL STREE JOURNAL reports here "The Revolutionary Guard Corps has evolved from a paramilitary force into a giant military and industrial operation; it has an estimated 125,000 fighters and acquires, builds and proliferates a variety of weaponry. Its business operations have made it increasingly important as a financing operation for the government. Cutting it off from legitimate global finance will make it harder to operate abroad, and will send a message to average Iranians that the group is viewed as an international pariah.

Naturally, even this is too provocative for some people, including Vladimir Putin and most of the Democratic Presidential candidates...Connecticut Senator Chris Dodd added that "I am deeply concerned that once again the President is opting for military action as a first resort."

First resort? These nonmilitary U.S. sanctions come after more than four years of deferring to European and U.N. diplomacy toward Iran. The U.S. delayed even this move for months as it tried to persuade Russia not to block more serious sanctions through the U.N. Security Council. Iran feels confident in pursuing a nuclear bomb, and promoting terrorism, precisely because it believes Mr. Putin and others will block any serious multilateral response.

As for Mr. Dodd and Democrats, the question is why they object to even these efforts to show Iran that it can't kill Americans with impunity? U.S. commanders in Iraq have provided acres of evidence that the Quds Force is responsible for aiding Shiite radicals with deadly roadside bombs. Senior Administration officials tell us that 70% of U.S. casualties in Iraq are the result of Shiite forces supplied by Iran. The Quds Force has been caught red-handed supplying the Taliban with weapons that kill U.S. and NATO troops in Afghanistan. Yet most Democrats seem more offended with Mr. Bush's decision to impose financial sanctions against such an enemy.

The main problem with these sanctions is they probably won't go far enough to change Iranian behavior. The mullahs have become persuaded that the Bush Administration is too tied down in Iraq, and that Europe is too afraid to do anything more serious. If the rest of the world really wants a nonmilitary solution to Iranian aggression, they should see these U.S. sanctions as one last chance to show Tehran otherwise. The alternative is likely to be the resort to military force that Democrats claim to want to avoid."

In other words: the entire Middle East, especially Afganistan, Lebanon and Iraq would be a far more peaceable/less dangerous place without Iranian military-monetary interference which today is killing a lot of people in several nations. Soon this same edict from Iran will be killing many hopes for freedom in Latin America, hurtling thousands in exodus. Ecuador has lost 20% of her people already to flight. Venezuela is probably close to this now even as thousands of imported Iranian population builders are brought in to greatly multiply [usually through bigamy, etc]- the Iranian way. Know your customer. Know your politicians and know your government.
 
-Pedro Camargo for Ecrisis
 

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