October 16, 2008   Of all the ridiculously incompetent things that Rafael Correa has done- and Ecuadoreans in their gleeful stupidity have let him do- is the merging of the former Republic of Ecuador with the Hugo Chavez bloc of Russo-Iranian cartel actors. Ecuadoreans today are so depraved that they seriously believe that they can manipulate these fundamentalist Muslim money men and make off like bandits. We pause today to remind our Marxist radical friends that Muslim fundamentalists who are pouring in to the Andes, play for keeps and demand total subservience. While you are busy making yourself subservient to Correa's ridiculously self-enslaving, freedom-ending so called constitution, you are also abandoning every single ethic you ever had and do now enjoin the shariah law tenants of total obedience to Allah under Iranian ploys. 
 
While Correa and Chavez declare that the state now owns your wallet and your bank accounts, so too does the radical, hugely populating militant Muslim leadership of Iran. "The main purpose of Shariah law is to promote Islam as the only legitimate governing system and to help establish its rule worldwide. Shariah-compliant finance is a means to that end..." notes INVESTORS BUSINESS DAILY in a terrific 10-15-08 article here:

--------- 
'All Riches Are Ours'
Islamofascism: An Arab cleric rejoicing in the "collapse" of capitalism is calling on Muslims to replace it with an Islamic financial system that's done such a bang-up job for them.

Egyptian Sheik Yusuf al-Qaradawi, described by the wires as an "influential" cleric, beseeched Muslims to take advantage of the Western financial crisis to build an economic system based on 7th-century Shariah principles banning interest and credit.

Egyptian Sheik Yusuf al-Qaradawi favors an Islamic financial system that's given his people incomes 1/27th those of the U.S.

"The collapse of the capitalist system based on usury and paper and not on goods traded on the market is proof that it is in crisis and shows that Islamic economic philosophy is holding up," al-Qaradawi said.

Apparently the sheik hasn't looked at any numbers comparing Muslim economies with Western economies. They don't stack up, to put it gently. The best yardstick for measuring global economic success is per-capita GDP. None of the 35 Muslim nations holds a candle to the U.S. (with the exceptions of tiny plutocracies like Qatar).

Al-Qaradawi's Egypt, for example, ranks 111th in the world with a per-capita GDP of $1,697. In contrast, the U.S. ranks 10th with a per-capita GDP of $45,790.

Still, al-Qaradawi thinks the West's financial turmoil proves the superiority of Islamic economics. He urged Muslims to "profit from the crisis to bring about the triumph of the (Islamic) nation, which holds the spiritual and material resources for victory," including "nearly all the oil." (Even more reason to drill.)

Who is this sheik? The wires describe him simply as an "influential Sunni cleric," when in fact he's a Muslim Brotherhood jihadist leader who advocates suicide bombings against the West and the establishment of a global caliphate. The stories don't mention that.

In fact, al-Qaradawi has been banned from traveling to both the U.S. and the U.K. because of his pro-terrorism remarks, including:

• Defending suicide bombings in 2001 as "heroic martyrdom operations."

• Declaring in 2003 that any Muslims "killed fighting the American forces are martyrs."

• Encouraging female suicide bombings in 2004 as "martyr operations" and "the greatest of all sorts of jihad in the cause of Allah."

The cleric has also endorsed the Islamic practice of wife-beating, arguing that "some women enjoy the beating."

Despite this, al-Qaradawi sits on Shariah advisory boards of several Islamic funds and banks around the Muslim world.

Another prominent adviser is Muhammad Usmani, a radical Pakistani cleric who also advocates suicide bombings and runs a madrassa that has trained thousands of Taliban extremists.

Until recently, Usmani sat on the Shariah supervisory board of a U.S. Islamic fund run by the North American Islamic Trust — a Saudi-tied front for the Muslim Brotherhood that holds title to some of the most radical mosques in America.

The Justice Department last year named the trust as an unindicted co-conspirator in a major terror-financing case.

Such funds offer little transparency. They fail to disclose both the radical ties of the Muslim scholars who are advising and running them and the Islamofascist tenets that dictate the structuring of the investments.

The prospectuses explain simply that the investments are "ethical" or "socially responsible," when in fact they are grounded in a hateful and violent religious doctrine that threatens America and the West.

The main purpose of Shariah law is to promote Islam as the only legitimate governing system and to help establish its rule worldwide. Shariah-compliant finance is a means to that end.

"All riches are ours," al-Qaradawi declared. Keep dreaming, Sheik.

----------

ECrisis hopes that you will step back and consider what Rafael Correa and his Muslim cleric friends have been spewing this week....that capitalism is dead and the U.S. financial system is dead. This is nonsense but far too many idiots across Ecuador believe Correa, as they believe any lie he tells them, because Ecuadoreans want to believe him and find life so much easier when they do not have to trouble themselves to act with intelligence, with fact checking or with any eye at all toward the future of the families. In short, Ecuadoreans sell themselves out to liars, ninnyhammers, dimwits and dunces. And they are one and the same now.

By merging with these radical leaders from the world of Islam, Rafael Correa has placed a curse on the people of Ecuador- dooming each to be deemed a tool of the Russo-Iranian morass which will be unwelcome even for travel, for banking and for trade with the rest of the sane world, which they hope to conquer and convert to their special cartel ploys too in an unending manipulation to make the best the enemy of the good. Ecuadoreans are just irresponsible pawns in this drama.

 And while busily trumpeting the glories of Venezuelan commercial banks, Norm Bailey of the USA recently swore under oath that Venezuela, which is a state sponsor of terror, should not be so classified by the U.S. government for being what it is because...the bankers of Venezuela- his lobbying clients- needed the liberty he claimed to serve the communist state of the excessively corrupt government of Hugo Chavez and that poor people, so the false fairy tale goes, need banks. Of all the lousy liars in the universe, Venezuela's banks, who pay Mr. Bailey, have a false face on their false money making rackets. Today, we read in the FINANCIAL TIMES that Chavez and his "bankers" have been making lots and lots of money off of derivative swaps against the soundness of the American financial system through "derivatives swaps" while betting against America's growth:         

------
Caracas banks hit by Lehman failure
By Benedict Mander in Caracas

Published: October 14 2008 22:28 | Last updated: October 14 2008 22:28

While stock markets all over the world were ravaged in recent weeks, there was one oasis of calm: Venezuela’s tiny exchange, cosseted by capital controls, actually rose slightly on days where historic losses were being recorded elsewhere.

But a handful of local banks and broker-dealers are facing serious losses, particularly after the collapse of Lehman Brothers, and some may even share a similar fate. Collectively, banks may have been left holding as much as $400m (€290m, £230m) in “structured notes” guaranteed by the US bank.

Analysts say the notes – similar to credit default swaps, which provide insurance against bond defaults – are now worthless. Venezuela’s government holds more than $300m of Lehman notes, although most think it can sustain the blow.
“A restructuring in Venezuela’s financial system is coming and, like in the US, the authorities will probably force the sale, merger or liquidation of some banks,” said Moris Beracha, a financial analyst and former adviser to the finance ministry. “The crisis is nothing compared to the US, but is putting a lot of pressure on the financial system.”

Even socialist President Hugo Chávez, who heralded the downfall of capitalism thanks to the “irresponsibility” of the US government, has admitted that no country is immune to the banking crisis, the impact of which he likened to “a hundred hurricanes”.

Few are expecting a fully-fledged run on the banks – although some may be over-leveraged, the system as a whole is reckoned to be solvent. Those banks directly affected by the Lehman debacle represent only 5 per cent of deposits, although any collapse could hit confidence without an appropriate government response.

Also, with a global flight to quality and credit markets paralysed, risk spreads on Venezuelan sovereign debt have widened more than most other countries in the region, although many analysts are confident the government is both willing and able to pay its debt.

That poses problems for the ability both to finance imports, on which Venezuela is heavily dependent, and to control the bolivar’s parallel “black market” exchange rate, which has weakened in recent weeks. Limits on foreign exchange of bolivars mean that there is strong local demand for dollars. The government has until now satisfied this by issuing dollar-denominated debt payable in bolivars, which can then be exchanged for dollars overseas.

But with the drying up of the US secondary market for their debt, Venezuelans can no longer sell bonds overseas to obtain the dollars they seek, which in turn makes it difficult for businesses to buy goods abroad.

All of this is likely to aggravate what is already the highest inflation rate in the region, expected to reach 30 per cent this year.

But most analysts agree that the most serious threat to Mr Chávez is the effect a recession in the US is expected to have not only on oil prices, but on US demand for Venezuelan oil. For all the anti-US rhetoric, Venezuela depends on it for more than three quarters of its revenues from oil exports.

Reliant on those oil revenues for around half the government budget, Mr Chávez is now calling for austerity measures. Although that may be feasible in the public sector, it will be hard to dampen Venezuela’s consumer boom for as long as inflation remains higher than saving rates.

If we read this article correctly, around one billion of worthless bets are held by the government and the commercial banks of Venezuela. And while hating the USA, both the anti USA regimes of Correa and Chavez depend heavily on the U.S. dollar and have no decency to even respect that currency because they despise the very paper it is printed on. We suggest that both Ecuador and Venezuela immediately cease using U.S. dollars and convert instead to Iran's monetary regime to enjoy their full faith and warranty because they have no regard for the full faith and warranty of the U.S. financial system which they have clearly been gaming and betting against for some time to....what does Michael Shifter of the Inter American Dialogue call it-? to help the poor in Venezuela and Ecuador? To help the poor, Venezuela and Ecuador have been encouraged to operate in some of the dirtiest speculative betting cartels known on Earth.

Do the people of Venezuela benefit from Chavez's insistence that he and Rafael Correa make every effort to raid global financial arms because....it is good for the poor and kills off the oligarchy, self enriching temporarily their criminal adventures? "But with the drying up of the US secondary market for their debt, Venezuelans can no longer sell bonds overseas to obtain the dollars they seek, which in turn makes it difficult for businesses to buy goods abroad."

Why would anyone buy Ecuadorean or Venezuelan bonds? Why would anyone, such as U.S. Congressional leaders from the Democratic Party such as Mr. Engle actually believe that Venezuela's bankers are legitimate actors in the hemispheric charade of cartel movements? Is he that stupid? And why would any government refuse to state the facts that Ecuador and Venezuela are sound allies in regional leadership because they "help the poor and kill the oligarchies" when the poor are worse off than before and the oligarchies died a long time ago? What is this false foreign policy justification perpetrated by the U.S. Democratic party and Latin communists, joined together today? And why is no one reporting the facts of this shameful cartel which is so roundly defended and lied about, even under oath?

We can only imagine that Chavez and Correa would gladly seek. if they could get over their essential hatreds of the USA, a hand out from the U.S. Treasury's Paulson, along with the Europeans, to prop up their "banks" after their speculative end runs have sucked a lot of capitol from the region. Chavez watches inflation soar past 30%- a direct deduction to his citizens. For Correa's part, he despises the U.S. dollar but knows well that by ending dollarization, Ecuador will see inflation spiral beyond 50%, exposing the real sorry state of his profligate, open wallet thievery of the state finances of Ecuador even as he wants to tell us all that the budgets are doing great when of course no one knows what or where the money has gone to as quality of life deteriorates.

Today Correa and Chavez like to blame "capitalism" for their own ridiculously incompetent communist cartel financial houses, which both carry the heavy pox of criminality. This is not unlike a recent self promotional piece signed by U.S. Senator Chris Dodd in the MIAMI HERALD. Dodd tells us that the collapse of functional democracies in Latin America is all George Bush's fault because he backed the 2002 coup in Caracas. To be sure, Dodd himself knows he is lying and knows well that the USA did nothing of the sort but it sounds good- good enough for Dodd to repeat this phony string of canard riddled lies to self promote his own criminal charge-escaping end run as he seeks to be Barack Hussein Obama's next Secretary of State and avoid his own financial complicity with criminals.

To continue to blame George Bush, as president of the USA, for all problems in life is to not only buy into the George Soros line of political lies but is to also sound like every manipulative housewife in Ecuador who blames everyone else for the world's problems while refusing to do anything meaningful except to boss around the kitchen helpers, claiming this their highest job requirement when...it is not.

Meanwhile, Lexington, Kentucky is reporting that five members of Nancy Pelosi's U.S. Democrats charged the U.S. taxpayers for almost a week of sun and fun in the Galapagos Islands last summer. Why is spending another $100,000 of U.S. taxpayer monies, arranged through the Linda Jewell embassy of the USA in Quito to support her "dear boy Rafaelito" necessary to enable these fun seekers yet another free vacation? And what possible good did this do except to pretend that Rafael Correa's take over by his team of non-scientists on the Galapagos is fabulous? We hope they are voted out of office for malfeasance and fraud.

In the USA, the Seattle media reports that "hidden cameras" trailed this U.S. Congressional delegation busily shopping, drinking lots of wine, dining expansively and having a jolly good time- at U.S. tax payer expense, with some of their family members flown in by the U.S. government too. These U.S. congressmen seem not to care that Rafael Correa's goon squads were trailing them- as is routinely the case today for  any and all future extortionary purposes, illegally filming visitors. Correa deploys his Cuban-DISIP boys, also called embassy employees, to trail just about any higher level American, and lots of Ecuadoreans, these days. We cannot understand why Americans put up with this illegal surveillance and instead gleefully embrace the criminal cartel in Quito. But these incompetent and selfish Congressional leaders want to help hand over to the illicit cartel regime of Correa a lot of U.S. monies for Correa's regime of criminals. Following their happy jaunt to Ecuador, this gaggle of fools has championed lots more U.S. dollars. For his part, Correa on Monday, with Iran's Ahmadinejad, publicly proclaimed that the USA is evil and deserves to collapse. We just hope that the U.S. Congress of the Soros-Reid-Pelosi-Dodd money give aways ends now. Ecuador deserves not one penny from the United States of America. In fact, what the U.S. Democrats are doing is co funding, on the excuse of removing "global warming" [itself a fraud] a star member of the Russo-Iranian cartel- Ecuador as its newest proxy and warrants no support at all. These congresspersons should be furious that Correa's goons spied on them and should demand an investigation. But no- they are too busy lying about the joys of co funding this narco proxy state of the Russo-Iranian cartel. Moreover, these U.S. Congressional idiots are guilty of sedition: supporting a regime-cartel now in bed fully with Iran, presently declaring that it will see a world "without America." Rafael Correa believes this is a good idea: he agrees with Iran's Ahmadinejad and is completely in bed with this murderous regime even going so far as to sign formal agreements with Iran "in the name of Allah." Ask him. Know what your government and its pro-Iran sponsors are doing. And if you do not appreciate the United States pouring tens of millions of dollars in to propping up the proxy regime of the Russo-Iranian cartel called Ecuador, go ahead and politely ask them to cease and desist funding this utter nonsense. Ask them. Be sure to state your name and address.

Today's WALL STREET JOURNAL reports increasing anti Semitism and anti Americanism with anyone or any fool enmeshed in Iran's cascading hatefulness, which is the hallmark of its foreign policy. Even Germany is getting itself caught up in these hate crimes: “It’s been a while since German military officers attended rallies that feature threats to Jews. Last month Berlin's defense attaché in Tehran resumed that tradition at Iran's annual military parade. The German envoy had the privilege of hearing President Mahmoud Ahmadinejad promise to `break the hands' of invaders amid banners that read `Israel should be eradicated from the universe' and shouts of `Down with Israel' and `We will crush America under our feet.' “Rafael Correa thinks this is a good idea. We know this because he has jumped in feet first in to bed with Ahmadinejad's world wide scourge of lies and hate. And to all our Lebanese friends who piously pretend to be such fabulous Catholics in Ecuador....we remind that hatred of the Jews/anti-Semitism is a sin. In fact, the last Pope made a good case for even calling anti-Semitism as anti-Christian. That is to say- no decent Christian acts to promote hatred of the Jews. But Rafael Correa does and will: he has signed his concurrence with the ayatollahs whose aim is to destroy Christianity- sometimes called capitalism and always called anti Semitism. Rafael Correa is not a devout Catholic, no matter what the lying media says. Indeed, Correa is more like a drunken and debauched Teddy Kennedy at the confessional- never contrite, never honest and never repentant. Ecuador does not need, as is the case today, to be known as a member of the Jew hating league of nations...it has enough sins on its hands already.

As Rafael Correa shores up his communist league of rogue nations credentials, meeting today with Russian ministry officials, we can only wonder what deals are being struck with Putin's Latin team. More drug running from Ecuador? More white slavery, illegal shipments of goods, more military support for Chavez, more fake passport for Russian mobsters or perhaps just plain old racketeering. With Correa, one never knows exactly what he is up to.

 -Pedro Camargo for ECrisis