Chavez wins constitutional amendment vote

Venezuelans give a ‘yes’ vote to President Hugo Chavez seeking to extend his term in office and bolstering support for his Socialist party. Preliminary results in a referendum vote conducted Sunday showed that 54.36 percent of voters approved a constitutional amendment to scrap electoral term limits, the National Electoral Council president Tibisay Lucena said early […]

Venezuela’s Chavez says oil could reach $300

MARACAIBO, July 13 (Reuters) – Venezuelan President Hugo Chavez said on Sunday oil prices could hit $300 per barrel if U.S. oil company Exxon Mobil again freezes Venezuelan assets in a dispute over a nationalized oil project. Exxon (XOM.N: Quote, Profile, Research) won court orders freezing $12 billion in assets held by Venezuelan state oil […]

More Cash and Credit: How the Economy got Here in the First Place

It is snowing this morning… winter is not over; in fact the worst weather of the year may still be ahead. Yesterday, the Dow held steady, after falling 315 points on Friday. Gold rose again – another $11… to $986. It looks like $1,000 gold is only days away, which means that $2,000 gold can’t […]

Chavez urges withdrawals from U.S. banks

Venezuelan President Hugo Chavez urged his Latin American allies on Saturday to begin withdrawing billions of dollars in international reserves from U.S. banks, warning of a looming U.S. economic crisis.Chavez made the suggestion as he hosted a summit aimed at boosting Latin American integration and rolling back U.S. influence. “We should start to bring our […]