Letter: ALBA-TCP summit begins in Havana

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Dear Sir:

Venezuelan President Nicolas Maduro and other leaders arrived in Cuba to attend the Summit of the Bolivarian Alliance of the Peoples of Our America (ALBA).

ALBA was created 14 years ago on December 14, 2004, by the deceased presidents of Venezuela, Hugo Chavez, and of Cuba, Fidel Castro, describing it as an alternative to the Free Trade Area for the Americas (FTAA).

On December 12, 2018, before the opening, the Cuban head of state received the participants of the meeting, at the venue of the Protocol Hall Cubanacan of Havana.

Attending the meeting are the secretary-general of the integration bloc, Bolivian David Choquehuanca, presidents of Venezuela, Nicolas Maduro, of Bolivia, Evo Morales and Nicaragua, Daniel Ortega, as well as the prime ministers of Dominica, Roosevelt Skerrit, and St Vincent and the Grenadines, Ralph Gonsalves.

Several dignitaries, among them Cuba’s president, Miguel Diaz-Canel, and Venezuelan president, Nicolas Maduro, who has highlighted on social networks the importance of consolidating unity and the regional integration to defend independence and sovereignty of the peoples.

To comply with that objective, they also highlighted the pertinence of strengthening the ALBA-TCP, which appeared as the alternative to the Area of Free Trade of the Americas (AFTA), a neoliberal proposal of the United States that pretended to break the sovereignty of Latin American and Caribbean nations.

The usual anti-US rhetoric prevailed at the meeting and ALBA, which on Thursday is marking the 13th anniversary of its founding, “needs an additional push,” Rodriguez said at the inauguration of the organization’s 16th Political Council.

He said this year had been one of changes in the international arena, including a “growing onslaught of US imperialism” in Latin America and the Caribbean, an “escalation” of aggression [by the US] against Venezuela and “growing threats to peace and security.”

In Thursday’s session, ALBA members reviewed global political issues such as the “campaign against Venezuela,” a reference to harsh sanctions imposed earlier this year by the United States, the Cuban foreign ministry’s director-general for Latin America and the Caribbean, Eugenio Martinez, told reporters.

US President Donald Trump in August signed an executive order that bars dealings in new debt and equity issued by the Venezuelan government and that nation’s state oil company, PDVSA.

The US Treasury Department said the measures were “carefully calibrated to deny (President Nicolas Maduro’s) dictatorship a critical source of financing to maintain its illegitimate rule, protect the United States financial system from complicity in Venezuela’s corruption and the impoverishment of the Venezuelan people, and allow for humanitarian assistance,” the statement said.

Because the re-election of Maduro was considered illegal and rigged, like the US, the European Union and Canada also have imposed their sanctions on Venezuela.

At the conference Maduro presented his old re-modeled plan to try and damage the dollar, called on all the ALBA members to follow Venezuela’s lead and adopt the Petro cryptocurrency and dump the dollar.

Of course, most of the hemisphere’s intelligencia realize that Maduro invented the Petro cryptocurrency because Venezuela was rapidly being prohibited in dealing in dollars because of ever squeezing US sanctions.

The conference all agreed that their respective countries would adopt the Petro cryptocurrencies, but not one of the leaders have relayed to their citizens of this critical shift, an action that will more than annoy the US.

How that will affect the East Caribbean Currency Union (EC$), which is the currency of some of the Caribbean members, is not yet fully understood. The EC$ is tied in value to the US$, if it is realigned to be set against the Petro cryptocurrency it could quite well become valueless in a brief time after adoption. Unless of course those countries like St Vincent and the Grenadines opt out of the ‘Petro’, which would be a sensible thing to do. The problem is there are not any sensible leaders among the ALBA membership, otherwise they would have not taken their countries into the membership in the first place. Also they are all obliged to provide solidarity to each other; it is one of ALBA’s terms of membership.

Six of the states using the EC$ are independent states: Antigua and Barbuda, Dominica, Grenada, St Kitts, and Nevis, Saint Lucia, and St Vincent and the Grenadines. The other two are British overseas territories: Anguilla and Montserrat. These states are all members of the Eastern Caribbean Currency Union.

Antigua and Barbuda, Dominica, Grenada, Saint Lucia, and St Vincent and the Grenadines, are all members of the East Caribbean Dollar monetary alliance. They all owe their citizens an explanation regarding the adoption of such a far-reaching decision.

The petro, or petromoneda, launched in February 2018, is a crypto-currency invented and developed by the government of Venezuela. As of August 2018, it did not appear to function as a currency. Announced in December 2017, it is supposed to be backed by the country’s oil and mineral reserves and is intended to supplement Venezuela’s plummeting bolívar-Fuerte-currency, as a means of circumventing US sanctions and accessing international financing. On August 20, 2018, the bolívar Soberano was introduced, with the government stating it would be linked to the petro value.

The problem is that the country’s oil and mineral reserves are already in hock to Russia and China, which makes the Petro little more than useless and valueless. Cuba has bled Venezuela dry, and now agrees with the adoption of the petro.

In 2017, a month after Venezuelan president Nicholas Maduro announced the creation of the Petro, a state-backed cryptocurrency that would supposedly bring the country out of six-figure hyperinflation, the only place the Petro seemed to exist was in the media.

Now it will take on a new status if adopted by all the ALBA members, who may just be adopting Venezuela’s one million percent inflation, ALBA wide.

Jolly Green

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6 COMMENTS

  1. My problem is I simply do not understand most of what is written here, in fact, I do not understand most of what is written by Green or by C.ben because its too high tech for most Vincies.

  2. Harry SVG;
    You don’t have to understand Mr Green, or C.ben’s, endless anti-Venezuela/Cuba rhetoric.

    The gist of their babble, is to bad-mouth Socialism strictly for CASH, by being US-Government-paid TROLLS’ for the American Military/Industrial/Complex and the 17 despotic Divisions’ of the CIA.
    Nothing more, nothing less.
    This is their job and how they make a living, which is not modest, by any means.
    They are compensated quite lavishly!

    Green’s comment, “Maduro presented his old re-modeled plan to try and damage the [US] dollar . . . “, IS EXACTLY the OPPOSITE to reality.
    Trump and his US monetary sanctions on Venezuela, are using the US Dollar as a weapon to DESTABILIZE and BANKRUPT Venezuela!
    This would enable the US Government to illegally obtain Venezuela’s large oil deposits and vast precious mineral deposits, (gold etc.).

    That’s what this whole US Government, Anti-Socialist debacle is aimed at – ENRICHING THE UNITED STATES GOVERNMENT’S COFFERS!

    Nothing has changed in the United States Government’s Perspective or Demeanor.
    It’s their standard ‘modus operandi’ and always has been.
    Don D.

  3. My dear Jolly Green Just what is it with these South American and Caribbean scammers and confidence tricksters, forever blowing hot air, proving themselves to be nothing other than a collection of gross charlatans and grubby over bloated windbags?

    For years the epicentre for their pomposity, posturing and swagger was Havana with Fidel Castro being their overt leader before Chavez burst onto the stage with his own blustering bravado, only to die leaving his stashed millions. Moreover, now that both he and Castro have been dragged off to their well-appointed allotted place, successor Maduro have switched the centre of gravity back to Havana.

    Indeed, a phrase and idiom says that birds of a feather will always flock together and so it is here, as these political scammers’ conference together seeking to avoid the American Sanctions but will the floating and use of a crypto-currency help them to avoid the United States global reach in containing them? One doubts it.

    Some here in St Vincent and the Grenadines are quite aware of the democratic deficit that is being experienced with us, as a result of this traditional ruling Plantation family holding our nation hostage, as they try to fuse their brand of pseudo-Marxism ideology with their now rampant crony Capitalism into a workable doctrine.

    Sadly however poor education by the mass here, electoral skulduggery and the destruction of all civic institutions have resulted in a family power concentration in St Vincent and the Grenadines, where parliament has become nothing but a rubber stamp for the family interest.

    Noting there what you said that “The conference all agreed that their respective countries would adopt the Petro cryptocurrencies,..” and that “not one of the leaders have relayed to their citizens of this critical shift,..”

    Such would not at all be surprising. It’s just family plantation business as usual in the case of St Vincent and the Grenadines, so why would the Gonsalves family inform their plebs, the plantation is yet alive and well here in St Vincent and the Grenadines.

    Yet it sure would be most interesting to see how these charlatans implement their plan in escaping and avoiding the American restrictions that are quite sure quite far reaching in their reach and scope.

  4. It is most important to see now how Russia has become involved that huge deposits of oil have been discovered under the sea in Guyana waters. Venezuela the bully have stopped Guyanese drilling operations.

    Venezuela refused to have the claim that they are demanding the 1889 recognition of borders between James, Venezuela refused for the matter regarding land and sea borders to be heard and adjudicated by the UN, and it is now being considered by the International Court of Justice.

    Venezuela have been carrying out war games with the Russians in the disputed waters. Two Iranian war ships are also on the way to Venezuela, and Russian bombers with atomic bomb capabilities overflew and are now based in Venezuela.

    All the scum leaders, Maduro, Gonsalves, and the ALBA garbage dump of leaders and followers such as Canadian Don and his Cuban wife, are as responsible for these aggressive acts as if they did them themselves.

    I really is time for sanctions on all the ALBA countries, and also against people like Gonsalves

  5. Land Turtle;
    Thank God that people and groups which you named, DO comprise entities that care about the Nefarious, US-caused Aggression, all over the world.

    By the way, Wayward Turtle, my Cuban wife has no knowledge whatever of US activities, beyond those that her government in Cuba, informs her of. She is kept busy concentrating on the normal family activities’ that apply to every Caribbean family unit.

    I on the other hand, make it a point to seek out information regarding EVERY ‘Atrocity’ that the USA creates around the world!

    Who gives the US GOVERNMENT, the authority to invade countless Sovereign Nations on the PRETEXT of ‘Advancing (the US-Version of) Democracy’, or, the other US Fable, “We are stopping the Drug Trade”.
    Everyone knows that the United States CIA Branch, is complicit with drug trade operations around the globe. If you DON’T know this, then you SHOULD!

    Don D.

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