print:Venezuela: Behind the curtains of the economic war | Bolivarian Republic of Venezuela |Axisoflogic.com

President Maduro (circled in red) and the Cabinet planning the current counterattack in the battle for the Venezuelan economy in the "Rolling Coup."

The inspections of the Venezuelan authorities of businesses continue nationwide with major national chains being targeted. The Consumer Protection Agency (INDEPABIS), the Institute for Fair Prices (SUNDECOP), The Venezuelan Tax Authority (SENIAT), the Institute for Legal Consumer Labeling (SENCAMER) all backed up by the National Guard (GNB), the Bolivarian Militia, Communal Councils and by the public at large are discovering the illegal and unscrupulous disaster propagated by retail chains, their suppliers and importers across all parts of the economy with the possible exception of the pharmaceutical sector.

This is not just been a question of price speculation and outright usury both prohibited in the 1999 Constitution. The whole scenario has been masterminded and financed by the opposition’s US handlers in the Caracas Embassy to destroy the economy and oust the democratically elected government by fomenting an uprising or even a civil war followed by foreign military intervention. The pot of (black) gold are the largest proven and certificated oil reserves in the world - 297.50 billion barrels of recoverable crude of all types that could climb to 505 billion barrels using latest US extraction technology. Compare this to Saudi Arabia’s proven recoverable reserves of 252 billion barrels that pale in comparison. This is without mentioning the trillions of cubic meters of gas reserves both onshore and offshore making Venezuela the fifth biggest reserve of gas on the planet.

These are the real reasons why a country of just under 30 million people has been the target of constant attacks and black propaganda campaigns since 1999 when Chávez took office and confronted the neocolonialism and imperialist neoliberalism that had kept 70% Venezuelans trapped in poverty for decades. Venezuela was a good example for its people but a highly dangerous one for the rest of the US dominated “back yard” as leftist government were elected across the region. For the first time since Simon Bolivar in the 1820’s, countries started to unite in a political block called UNASUR (Union of the South) conceived and inspired the President Chavez himself.

"The fascist right wing, allied with the US Empire, has made every effort to destroy the economy and the nascent socialism gradually being constructed in the country."

After Chavez’s premature death (or possible assassination as has been mooted) on March 5th this year and the election of President Nicolas Maduro on April 14th, there has been no respite in the economic and media war against the Bolivarian Republic of Venezuela. The fascist right wing, allied with the US Empire, has made every effort to destroy the economy and the nascent socialism gradually being constructed in the country. Venezuela is the cornerstone of revolution and unity in the region and by ousting chavismo from the Presidency, the rest of the region would have been fatally weakened opening the door for a return of US domination in the region.

This is unlikely to happen as President Maduro and the government institutions have taken the bull by the horns with a strong counteroffensive against induced inflation and grotesque speculation averaging between 400% and 1200%.

See "Maduro Fights Back: Massive crackdown on speculation and usury in Venezuela." by Arturo Rosales, Axis of Logic

The breadth of this plan can be seen from today’s announcement by President Maduro when he stated that of the thousands of companies inspected only 4 (four) were acting within the law. The crimes being committed – up to now with almost complete impunity – are usury, speculation, laundering dollars, billing in dollars, hoarding, repricing old stock, overpricing, selling out-of-date products, no price labeling, labels in foreign languages, not paying income tax, not paying VAT after claiming it from the customer, abuse of workers’ rights and their human rights by making them work long hours while being underpaid, not paying legally binding Christmas bonuses, dirty and insanitary working conditions.

As a result of this week’s activity that started by inspecting the home appliance sector, many companies are now reducing prices voluntarily by between 50% to 70% as the threat of being detained and held in custody is not a prospect to be relished by even the most rabid oppositionists. Maximum permitted fines have been levied where necessary and people arrested in the most flagrant cases.

The capitalist attack on Venezuela has so far been repelled by the threat and promise of socialist policies to be implemented in the context of the Enabling Act that will permit President Maduro to legislate by decree for one year.

Today President Maduro exercised healthy self-criticism for not acting earlier saying that his government did not realize that the situation was as critical as it was. He also stated that profit controls and other draconian measures would be permanent.

We will report on individual cases over the coming weekend as the inspections will continue gathering public support as more people are able to afford products from which they were excluded from buying due to the 1000%+ wave of speculation with no economic justification.