January 26, 2009   ECrisis has long advocated in support of dollarization. ECrisis has also said that Rafael Correa's dirty, opaque state management team has been looting Ecuadorean federal level income and failing to do anything legitimately for well over the last 18 months which has left us to believe that Ecuadorean policies are such a disgrace that it no longer warrants nor deserves dollarization and that the USA must rescind its availability.
 
We agree in general with Pedro Romero's good article here. But without a general accountability as Correa plunders Ecuador's assets to sell his election propaganda and steal other people's assets and companies while greedily taking more and more dirty money from the FARC and Iran, Correa is in desperate need of an independent forensic audit since all he does is dirty and illegal by any norms- all norms that is except his ridiculous notion that Pachamama legalizes for Ecuador all that should not be legitimate. Correa has manipulated Ecuadorean debt and manipulated the economic grid of income, profit and loss to serve his power sustaining cartel. Correa is functionally illiterate as a financial manager of anything but he has total power over every facet of Ecuadorean life- its production, trade and monetary policy and he has destroyed all credibility, accountability and raped what societal fabric remains.
 
There is not much left for Correa to manipulate because his dictatorship has manipulated just about all that it can to get re elected in April 2009. With not much left to manipulate and stubbornly addicted to manipulating to feel good about his profligacy and criminal communist cartel, Rafael Correa is now toying with dollarization which he despises although it has been the one lone stabilizing factor in all of Ecuadorean society that he cannot manipulate. Today Correa is doing all he can to not only warrant having the USA cut off dollarization for Ecuador but he is jiggering and manipulating his nation's monetary policy with a steady stream of claims and statements about dollarization that lead one to conclude he is either drunk or on drugs or in need of more lithium or else he is making derivates bets based on his own lies about monetary policies- a synthetic and destabilizing excitable risk policy about as useful as a twittering girl from Ecuador at a beauty pageant and with all the honest beauty of surgically enhanced radiance. Correa's monetary policy is unacceptable: he holds the use of dollarization as a hated tool for Ecuadorean stability which it is. Correa despises the fact that the U.S. Federal reserve, in general, is part of the evil Empire. But Correa enjoys making fees from converting drug monies in to dollars, also called illegal money laundering- illegal everywhere that is except in Ecuador. Correa also enjoys washing terrorists’ money for Iran and gifting Iranian terrorists with safe haven status. Correa also enjoys buying more and more weapons through Ecuador for criminal actors across Latin America. Correa should not have global support because he is breaking UN sanctions against Iran and is breaking all boundaries of fiscal responsibility with his dirty money machines for all terrorists while hiding behind the dollar which these criminals still crave. Correa's partners in crime have forced him, against his communist wishes, to retain the dollar because they know that he can and does launder their dirty money in to U.S. dollars. This needs to stop.
 
Correa is so manipulative that he is gaming dollarization not only to launder money but to destabilize his financial policies and erecting false insecurities in the Andean region to feed derivatives betting scams. Not unlike running a fake soccer pool in the office, Correa hedges and watches Ecuadorean derivatives "costs" soar based solely on his singular commitment to criminally jiggering financial markets. Not unlike betting against the U.S. dollar in reverse, Correa uses the dollar to run a dishonest hedging scam.
 
We at ECrisis are not conspiracy theorists but we do try to call it as we see it. We are long past trusting every so called ginned up Report about Ecuador written in English over the last four years by so called USA contractors about Ecuador because they concurrently in general also work for hedgers and speculators and  never ever report the full facts. While this is a crime it remains untouched for political and self enrichment reasons, untenable to any free society.
 
We're now more than two years and billions unaccounted for in to the Correa crisis of confidence, and the one enduring certainty is uncertainty. There is uncertainty about what Correa did that caused the problem, uncertainty that any Ecuadorean knows what to do or worse may want to do something/anything, and uncertainty about Correa's financial models that are so dishonest that they never measured risk but instead lied about risk to make greedy little bets on risk while shutting down Ecuadorean markets. All markets thrive when information flows freely, and every market seizes up/freezes- is immobile when uncertainty replaces understanding.
Correa has banished transparency, accountability, rule of law, free speech and the justice to deal with it.
 
Worse yet are feeble and half baked explanations of the values of betting on "risk" - real or ginned up for market manipulation. Here is Dr. Jack Wheeler, a long time friend and anti-communist chum with former Congressman Charlie Wilson, last spring on personal risk taking and sicknesses such as Correa's blatant narcissism which all doctors declare a mental illness but Ecuadoreans declare a highly vaulted national virtue, "It's worth noting here the correlation between narcissism and stimulant drug abuse.  [This politician] exhibits an almost pathological narcissism, an ego wildly out of proportion to anything he has actually accomplished in his life.  Someone with this personality defect is drawn to irrationally risky behavior because of a conviction of invulnerability, or superhuman superiority. Former New York Governor Eliot Spitzer had such a syndrome.  He chose to express it with hookers, but it's more common to see it expressed with drugs, cocaine in particular." Some others combine all three- paid sex, drugs and money making based on bets on risk. That is to say... making money from removing healthy behaviors and profiteering from instability and confusion.
 
Read again the sub heading here: Ecuador has derived stability from the gift of the use of the U.S. dollar. Along with anything else that is real and healthy, Ecuadoreans trust nothing and are so addicted to manipulating security that they are likely to see the end of the one thing in Ecuador that works- the use of the U.S. dollar, which remains well above the 70% public support level. What is bizarre is that Correa's popularity is also at that level obviously reflecting the deeply disturbed and psychotic break down of the entire Ecuadorean society which craves the use of the dollar and craves the abuse it gets from Correa who actually has destroyed their nation. Ecuadoreans cannot even bring themselves to stop loving and venerating their ridiculously incompetent president Correa who is essentially now their captor and has raped an entire nation. Not unlike those who fall in love with their rapists, Ecuadoreans seem to believe that they can manipulate their way out of rape by Correa. Their unfounded confidence in their personal power to manipulate has cost one and all the loss of their reputations, the loss of their businesses and the loss of their souls: there is no negotiating with the Fidel Castro government in Quito, assisted by the high morals of the FARC and now Iran.
 
Correa calls his dirty little betting scheme his "sovereign right" - that is his sovereign fund right to make money off the books and to self enrich his greedy cartel club.

From what we see, Correa is making money from pulling Ecuador's "anchor in the storm" in and out and in and out of the troubled waters. This is more than just mismanagement and a rampant addiction to manipulating stability, inherent now and passionately taught in every Ecuadorean home, but Correa is betting on his own ginned up turmoil and market manipulations. Ecuadoreans call it normal to create fake, synthetic crises in all homes and schools and workplaces. Correa is a master at this but he is also making money at citizen expense for his dirty financial betting games which cost Ecuadoreans lots and lots of money while concurrently leveraging their own future. Thus you have a double auto da fe and Ecuadorians are so addicted to manipulating all of life that they cannot even grasp that Correa is manipulating the Ecuadorian manipulators and making money off of their gamesmanship. These games will end- in bankruptcy and disgrace. Ecuadoreans are so debauched that while they themselves are being raped, they now want in- to partner- with Correa in their own rape. 
 
"Ecuador Dollarization: Anchor in a Storm
 
TARGETING DOLLARIZATION? From the start of dollarization, Rafael Correa’s attitude about it has been vehemently critical, verging on hatred, the author says. 
 
EGALITARIAN: Dollarization was the most egalitarian policy that Ecuador has adopted in the last few decades, the author argues..."  Read this article here.
 
As we know it- and as you know it, Mr. Romero here is too polite about Correa. He cites a "willingness" to break contracts. Correa does indeed break contracts all the time and his track record of theft is phenomenal. So Mr. Romero should state the total state theft levels to be more precise. This is not willingness but a craven plan of action with much already stolen. But because the U.S. government issues analyses about Ecuador that are lies that Correa  has stabilized Ecuador and is an honest and good man, Ecuadoreans- who are now lazy anyway- accept this even as they know that nothing in Quito is honest and all is dishonest and going down the toilet fast.
 
Mr. Romero is too tepid when he reports that "Ecuador lacks a reliable political system, legal system or investment climate." Indeed, Ecuador has no open political "climate" and is a one party of Correa system now. Ecuador has no courts but Correa's kangaroo justice for him and by him. Ecuador has no investment climate and no direct foreign investment except from the FARC and from Iran or any global vermin willing to pay Correa's bribes and hide what they are doing. In short, Correa is a drug king pin who has leveraged his nation's future with dirty hedge fund machinations based on his own self enriching bond scams. There is no money left in Ecuador because Correa has been busy stealing it and paying bribes to get re elected and buy his popularity while buying state propaganda.
 
While we do not know yet why the USA considers the rampant criminality of Correa to be so adoringly  venerated, we are assured that one fine day Correa's own market manipulators will do what they always do and turn against him. In the meantime we worry about Correa's abuse of the U.S dollar and hope that he is not using this to weaken the dollar, turning a bad betting system to raid the dollar, shorting it as is being done today against the British pound sterling.

One may well assume that Correa himself cannot place currency bets in the billions. But he can hide a lot of bets under his phony claim of: Sovereign funds"- his own little betting pool. Correa can leverage a two billion currency bet to about $10 billion or more. He can also enjoin with Chavez and Iran to bet against the dollar at around $100 billion and that starts to hurt the U.S. dollar.
 
Although we have noted here before that Correa is a criminal cartel dictator, we have also noted that Correa makes money from his dirty partners in the Axis of Evil besides the protection and extortion monies he takes from the FARC and Iran. We know that Correa and Chavez manipulate U.S. bond markets and that this charming duo is engaged in derivatives scams. What we do not know, besides enthusiasm for Ecuadorean promotion of increased naroctrafficking which is rampant, why the ilk of George Soros and his minions so warmly embrace Correa's team, also called embracing Correa's incompetent ambassador to Washington, DC. What possibly could there be to sustain affection between this currency and hedge fund runner? Is he helping Correa with his hedging through his multitudes of paid sub contractors and affiliated hedgers such as Lula’s own Armenio Fraga who is a Soros partner, among so many now? Is he assisting as he does so often with "pension fund" and labor union retirement pool bets on high risk off the books betting schemes? And why, if Soros is as NBC TV called him- the Man  Who Owns the U.S. Democratic Party" and is of course the perpetrator of selling the Obama plan of fake inflation, fake national bail outs- also called rewarding Democratic Party operatives for their election work with money- and fake Keynesian socialization which never works and always bankrupts.
 
Without so much as a by your leave, Correa has defaulted on his debts and established a giant speculative pool engaging all that he does. The real victim here remains the irresponsible Ecuadorean voter. Next victim will be the little role that Correa cheerfully plays in defrauding global financial markets which he thinks is a good thing because it helps bring down the evil empire of capitalism, subverts law and order to a meaningless state and convinces him that Pachamama was right to whisper in his ear to do all these illegal things. Yes- like seriously mentally ill persons, Correa is taking his crime enabling instructions from his own creation- his fake new state religion of Pachamama which blesses any crime one can cook. She is the deity for all drug runners, market manipulators and criminals. Tragically Bolivia, which has nothing left to bet, just enshrined this fake Queen of Crime- their new deity yesterday in a repeat constitutional adoption of their new state religion: crime with no punishment except the illegalities of Western Civilization and its entire system of ethics and laws which Bolivia and Ecuador have banished today.
 
We remind of a famous case in New York City of a Mr. Berkowitz. He too had voices whispering in his ear...telling him murder and he did. Those voices he claims were from a dog, his own Pachamama- fake deities, fake voices of self delusional immoral behavior. When Pachamama or....a dog...whispers in your ear and tells you that it is holy to commit crimes, will you stop your criminal behavior? Or will you feel enabled, emboldened? Just read that ridiculous crime enabling Constitutional Manifesto of 9-08. Correa enables all Ecuadoreans to commit any crime whatsoever as long as he gets a piece of the action and as long as you do this in the name of the fake deity Pachamama. So bow down to Pachamama but know this: your Faustian Bargain has cost you your very soul and has cast you in to the realm of the criminal and profane while you cheerfully toss Christian values...under the bus. One cannot be a Christian and worship Correa's fake deity Pachamama to enable crime with no punishment. Who do you pray to? The Christian God of the god of manipulators named Correa's state deity Pachamama? A nation addicted to manipulators does not even get out of the way of its own rape- it wants part of the action and even more state handouts, more Something for Nothing in the most self debasing societal self destruction we have seen for a very very long time. Soros must be pleased:  more brain dead, moral abandoning locusts so easily seduced and led onward....and off the cliff. And maybe maybe one fine day all will realize that their own scams and manipulative crimes brought them to this place- a self inflicted  hell where there is no way to manipulate their way out. We still suggest that all Ecuadoreans voluntarily enroll in Uribe's re hab programs to de-program addicts of manipulative criminal living mores. An easier way- and available to all for free- is to practice the Ten Commandments. Is it really that simple-? Yes it is. Problem is...you will have to abandon your addiction to manipulative living under the ridiculous state deity of Pachamama and your willful complicity in Correa's crime spree. What is Pachamama whispering in your ear today?
 
Rafael Correa is not the only one seduced by the George Soros gang of liars. Here we see the President Obama- Nancy ` I love the FARC' Pelosi and Harry Reid [Soros folks all] telling Americans that the Soros-style opaque hedge funds which destroyed willfully and with gay abandon labor union retirement funds, state pension funds and ruinously engaged major banks in to a profiteering ponzi scheme based on mortgage backed securities and derivatives payments must be paid back for their hard work of getting U.S. Democrats re elected. This is dishonest political pay back or graft whose solution- they tell us- is the urgently needed socialist state pay off system. A quick study of the bankrupted funds reveals their complicity in their own demise which the US democrats do now seek to repay. This is sold by Soros's own so called economic team and perpetrated on U.S. citizens by Soros's own elected and appointed USA officers. It is his plan essentially and his people and it is a dishonest mess. Although some Republicans played in this pay to play scheme, this is entirely a US Democratic Party scam. The Republicans are too stupid to know the difference and bend over once more for the lies about their own activities while ceding legal ground to these schemes. This in the USA is called Stimulus Package to get jobs moving and repay banks which stupidly bet against their own futures. The US democrats cannot even be honest about their dirty trick to help out their idiotic backers, badly in need of money now having allowed themselves to be led....off the cliffs of insanity and fiscal irresponsibility. Here is the story of what Pelosi and Reid are doing to help Soros's own Barack Hussein Obama and his supporters  and the overwhelming dishonesty of the Soros economic plan for the USA called the "Stimulus Plan" which is a pay back to Democrats and idiots who lost high risk speculative bets" 
        
The Stimulus Time Machine
"That $355 billion in spending isn't about the economy.
The stimulus bill currently steaming through Congress looks like a legislative freight train, but given last week's analysis by the Congressional Budget Office, it is more accurate to think of it as a time machine. That may be the only way to explain how spending on public works in 2011 and beyond will help the economy today..." Read this article here.

-  Pedro Camargo for ECrisis