Venezuela Moves All Its Currency Reserves Out of US

An update on "The New Axis of Evil" ^TM

Venezuela moved all its currency reserves out of U.S. banks, sold all its investments in U.S. Treasury securities and placed the funds in European banks, Venezuelan President Hugo Chávez said on Friday. Chavez is calling for all Latin American countries to come together in a regional economic alliance, and the creation of a central bank that would hold the currency reserves of the 12 Latin American nations.

Venezuela is investing heavily with other nations, such as Brazil and Argentina, to increase the production and refining of oil. Such regional economic cooperation is necessary to fight the dominance of the US in the western hemisphere. "It is a card that we are going to play with toughness against the toughest country in the world -- the United States," Chavez said.

Venezuela is the fifth largest oil exporter in the world, supplying the US with about 1.5 million barrels each day.

Is anyone paying attention to Latin America? Chavez and Lula are more than mere "colorful characters" on the world stage. When the day comes that the US invades Latin America, we will be told it is because of terrorism and weapons on mass destruction. But this string of stories is a much better explanation.