ECrisis knows very well that all media is not an honest snapshot of the facts. We also know that not everything that comes from el presidente Rafael Correa's team of political actors in Ecuador, who in self defense laughingly call themselves non political technocrats, is never ever honest. That is why we constantly urge all our readers to never, ever take our word for it- even though we provide thought provoking materials and underpinnings of numerous issues related to Ecuador. It is essential to make your own fact based conclusions, even if you disagree with this net or the variety of writers shared here.
 
We post this promotion of Rafael Correa's own bank. We say that it is of Correa and for Correa because that is the truth: all that he does and all his activities are unaccountably operating in the dark and run by his kangaroos, bouncing up and down at Correa's say-so. And you let him. But when it comes to your money and your future, know this: the Correa cartel in Quito takes great control of every facet of your days to maximize the statist controls over your life.
 
For our part, we find this propaganda typical of the current non-reporting of and by the Correa team: "Correa's bank will not be accountable to anyone but the President of the Republic, who will monitor a directory of only three members. Neither the brothers Isaias (family of troubled bankers), who also numbered three dared so much."
 
Again we suggest that all readers review this wild-eyed claim. "Correa's bank will not be accountable to anyone" but Correa. Do you understand what this means? Note too the juxtaposition that a licensed, lawfully run bank which was operational and credentialed by the Isaias family is supposed to be worse than Correa's new piggy bank of your retirement monies. The Isaias family businesses never broke any Ecuadorean or even international law. The Isaias businesses were however subjected to the ravages of what leftists do so well: apply injurious envy and create a massive campaign of slander against the Isaias family, based on no facts and adjudicated their businesses as evil with no chance to defend themselves. This is the Ecuadorean ethos: adjudge competitors guilty until proven innocent and in the meantime drive them out or steal their assets, also called illegal state caducidad.
 
The Isaias family has suffered long enough. The trumped up, phony claims against them are baseless and have no merit in fact. The on going slander and libel against them is beyond criminal.

Correa and his team of cartel operatives were wrong to steal from the Isaias family based on the most shallow and inconclusive non facts ever and for denying the Isaias family any right to self defense. For our part, we know too well in reviewing this problem over the last two years that the Isaias family consistently sustained self injury by retaining some of the most incompetent legal help and failing to properly defend itself, relying on recycled, shallow advice which of course smacks of legal incompetence and in the end appears as malfeasance. The Isaias crime- if there is one- remains only that their self defense is incompetent and badly in need of assistance to correct the extortionary crimes against their companies.
 
Here is an example of the statist justifications for handing social security funds over to the hands of uber-speculator Correa, himself happily cutting Ecuador off from all normative accountability and transparency....because you let him engineer one of the biggest state-controlled financial frauds against you ever:
Ecuador: Creation of New Social Security Bank
 
“Correa's bank will not be accountable to anyone but the President of the Republic, who will monitor a directory of only three members.”

Your social security money is now in the hands of a burglar: Rafael Correa and his cartel team. You enable this every time you demand no accountability, pretending that bond market manipulators like Correa and his team of currency and derivatives betters know how to honestly manage your money- better than a chartered and responsible bank. Self delusion and willful undereducation has gifted Ecuador with....bankruptcy and disgrace. No one invests in Ecuador anymore because Correa either steals from them on false grounds or refuses honest business. Correa insists that even bond holders happily and with gay abandon gift his cartel with bond returns of only ten cents on the dollar because....Correa tells you he needs your money or else he will take it anyway.

This is of course fiscal extortion and is no way to run a nation, let alone a bond market. Correa tells us that he has a fabulous investment baking team and a fabulous law firm running his extortion rackets as if this insures against fraud and extortion when....it does not. But Correa cannot even be honest about who or what the bond market team does nor even where they operate out of, skirting USA laws and obligations willfully when of course his team cannot. Correa tells us that his planned bond holder theft of 90% of their value is great because Argentina did this to great success. The Argentinean bond morass was not a great success: Argentina is known as a dead beat nation that stole from investors. Argentina has lost a decade of growth due to its own criminality which Correa proclaims as fantastic. This needs to stop. The only money coming in to Ecuador for Correa's banks are FARC and Iranian monies. This is no way to run a bank or bond markets.
 
Get the facts and make up your own mind. It is your money and your future- carpe diem.
 
Here, from the US DEA, is what Correa's partner in crime- the FARC- has been up to and how a Panamanian response has seized these violent criminals. Note too that AK-47s run up to Mexico from the Andes, not from the USA:
       
THREE FARC GUERRILLAS CHARGED WITH CONSPIRACY TO SUPPORT A FOREIGN TERRORIST ORGANIZATION

This statement honestly says," The FARC, whose Spanish name means Revolutionary Armed Forces of Colombia – Army of the People, has been designated by the Department of State as a Foreign Terrorist Organization, and is dedicated to the violent overthrow of Colombia’s democratically elected government.  It is a highly structured criminal organization, styled as a military group with “blocs,” “fronts,” and “militias,” as well as governing bodies known as the “Secretariat” and the “Estado Mayor.”  The 57th Front of the FARC is headquartered in the Choco Department of Colombia, which borders Panama.  The 57th Front of the FARC is involved in cocaine trafficking for the FARC and is also involved in obtaining supplies such as weapons, ammunition, uniforms, and other items both for the Front itself, as well as other fronts of the FARC.  The 57th Front also funds itself through kidnapping for ransom, including the kidnapping of foreign tourists traveling through areas controlled by the Front.  Mosquera-Renteria, Bañol-Ramos, and Jorge Abel Ibarguen-Palacio, the defendants, are FARC guerrillas and members of the 57th Front."
 
But Correa and the titular Allende/Soros man on the job at the OAS, Jose Miguel Insulza, want you to wrongly pretend that the FARC are nothing but a political group of irregulars. Those irregulars will slit your throat....and you call them yet partners for Ecuador. Have a care with whom you sleep at night. It is a cold bed not knowing nor respecting your own dishonest cartel partners.
 
Note too that U.S. justice presumes innocence unless and until proven guilty. The hapless and tactically vacated Isaias family had no such luck- they have been adjudicated as criminals when there has been no verifiable evidence against them and no chance for self defense. Justice is not done in Correa's Ecuador- only racketeering, bond fraud and extortion.
 
-Pedro Camargo for ECrisis