Global Capitalist Cronyism

Among the insights of the late Juan Nuño is his observation that we should all vote in U.S. elections, since their results affect the entire world. We are, in fact, very concerned about the decisions Americans will make about who will lead their government. No moment illustrates this more than the present.

Driven by prejudices, resentments and lies cultivated by certain media outlets, two years ago half of American voters elected as president the person whom Bernie Sanders considers the most dangerous to the country in its entire history. A corrupt narcissist with an inferiority complex, lacking moral restraint, who seeks to do as he pleases, flouting rules and agreements simply because he holds the most powerful office in the world.

A quick glance at his 22 months in office reveals, without having to dig too deeply, the following gems: the destruction of the foundations of the Western alliance upon which a rules-based world order had been built; the fabricated trade war against his closest ally, Canada, with significant costs for its population; threats to take another ally, Greenland, by force; deliberate intimidation of many others to extract asymmetrical concessions; the arbitrary and discretionary imposition of tariffs on his trading partners, which has made the flow of goods and services more expensive; not to mention the imperial contempt shown toward his neighbors by replacing the names of the Gulf of Mexico and Lake Ontario (which is Canadian) with “America.” And we can’t forget the real estate projects pursued in various parts of the world under the guise of diplomatic negotiations led by his son-in-law, son, and/or friends.

Even more directly lethal has been his unwavering support for Benjamin Netanyahu’s response to Hamas’ ruthless terrorist attack in 2023, a genocide which has indiscriminately massacred more than 70,000 Gazan citizens, and, using U.S.-supplied weapons, demolished a large portion of the territory where they live. Spurred on by this “friend,” he launched a war against Iran that we still haven’t seen the end of, causing extensive damage and loss of human life, and entrenching in power a bloodthirsty theocratic autocracy that, through its Revolutionary Guard, has murdered thousands of Iranians. It disrupted the daily flow of millions of barrels of crude oil through the Strait of Hormuz, increasing the cost of fuel and of transportation for many goods, and spreading the armed conflict to much of the Middle East.

Now, in an attempt to prevent his party’s defeat in the midterm elections two weeks from now, he is openly betraying Ukrainians by lifting sanctions imposed by the U.S. Congress against Vladimir Putin for his aggression against Ukraine and buying billions of dollars’ worth of diesel from him, all while blaming Volodymyr Zelenskyy for the rise in prices. The fact is that Trump — because this is about him — feels a particular attraction to the “strongman,” a figure he seeks to embody by shaking off democratic checks and balances. Hence his attack on the International Criminal Court, whose mission is to prosecute many of these despots for crimes against humanity. “Might is right!” would be his motto. Only his own morality, so he claims, would limit him from saving the world.

And Venezuela? History has shown us that fascist regimes can only be overthrown by force, and it was Trump who provided that force to remove Nicolás Maduro. For that, we would be eternally grateful — were it not for the fact that he immediately allied himself with Maduro’s former vice president, effectively leaving the dictator’s power structure intact. Some will argue that this assessment is unfair, since hundreds of political prisoners have been released, there is more freedom of speech now, and certain laws, such as the Hydrocarbons Law, have been adapted to current realities. There is also an ongoing negotiation process between representatives of the democratic opposition, led by Dinorah Figuera, and Chavismo, led by Jorge Rodríguez, which formally aims to agree on the conditions that would allow for a peaceful transition to full democracy. High on their agenda is the renewal of the Supreme Court of Justice and the National Electoral Council; if this is carried out satisfactorily, within a reasonable timeframe, it holds out the possibility of a prompt election, with safeguards, to form a stable government that will finally respond to the will of the people. However, suspicion is rising because such progress seems to stem not from a genuine commitment honored by those who still hold power, but rather from pressure exerted by those who hold the reins of the protectorate they have established in Venezuela.

They repeatedly assert that they are following a three-stage strategy: stabilization, economic recovery and democratic transition. We must be patient, they warn us, because each stage is a prerequisite for moving on to the next. In light of this, there are still no dates set for the elections, since Venezuela is not yet ready for them. It is as if the superb organization that guaranteed the overwhelming and indisputable victory on June 28 had never existed. Furthermore, Secretary Marco Rubio — whom we are asked to trust and who appears to be a sensible person, given his extensive political experience — has for a boss the hothead responsible for the aforementioned problems.

And one wonders: If we are to trust Rubio’s strategy, why, after nine months, is it still unknown how much has been deposited into the U.S. Treasury from the export of Venezuelan crude oil, how much has been diverted through collections on accounts there, how much has been handed over to the local agent of the protectorate, and what has she spent it on?

And what about the mega-oil deal that Trump boasts so much about; does it truly serve Venezuela’s interests? It places in the hands of Alejandro Betancourt, with the backing of the Pentagon, the task of securing investments worth billions from the industry’s largest companies to develop a massive concession containing one-fifth of the oil reserves the country claims to have. This individual, known for his involvement with Derwick, a company that defrauded the country through a contract to supply power plants, is anything but trustworthy. Given his company’s limited experience and size, and because what is known about this mega-deal violates the Constitution and the recently amended Hydrocarbons Law itself, there are legitimate doubts about its viability.

Finally, there are indications of the alleged involvement of Trump’s cronies and Rubio himself in the extremely costly hiring of Centerview Partners, an investment fund, to lead the restructuring of the colossal and unpayable external public debt, while the International Monetary Fund — which offers much more solid, competent and less costly support for a realistic debt sustainability analysis that could serve as a basis for negotiating better terms — is being sidelined.

A recent article of mine encouraged readers to think the worst in order to decipher what he had in store for the country. And this collusion between someone who has provided irrefutable proof that he respects no interests other than his own, and someone who represents what remains of the criminal syndicate that plundered the country, does not bode well. If Trump insists on doing as he pleases in his own country, which still preserves its institutions, who is going to restrain him here in Venezuela? One suspects he has found the best ally in Delcy Rodríguez to advance his agenda here. “She’s wonderful!” The possibility that this symbiotic relationship could serve as a vehicle for consolidating crony capitalism, and thereby continuing the plundering of Venezuela, is outrageous and unacceptable.

In the upcoming midterm elections, we won’t be voting, as Nuño demanded, but we can hope that they will be won by a landslide by Democratic representatives — and why not, alongside responsible Republicans who will put a stop to the petty orange threat hanging over us? Even so, some analysts point out that, as a minority, like a cornered animal, he will be even worse. For our part, it is urgent that we advance popular mobilization and create the conditions to elect, as soon as possible, a government and a National Assembly that serve the nation’s interests and can rally the majority to rebuild the country. This is the best signal to send to those up north, as well as to our sister nations, so they understand what our true interests are.