The invasion of Venezuela by the United States of America, the capture of President Nicolas Maduro and his wife, and the decision of the US President Donald Trump “to run Venezuela until…” are sharply illustrative of the core contention of my previous column titled: “A world consumed by the violence of power-grabbers”.
As evidenced, widespread, greedy, and vindictive violence to achieve controlling power is flinging nations, those with economic and military might, into a dizzy orbit to acquire the resources of the world. Willfully, they intend to accomplish their objectives through naked and boastful violence against the powerless and, in the process, brazenly break national and international laws.
President Trump has all but dropped the fictitious claim of his intention to clean up drug trafficking, given his release of a former Honduran leader convicted of drug trafficking crimes in an American court. The objective and intent of the invasion of Venezuela have therefore become patently clear.
To accomplish his mission, President Trump has made his intention known to “run” Venezuela and to direct American transnational corporations to return to the South American country, said to hold the largest quantity of petroleum resources anywhere in the world, to revive the oil industry, the revenue from which will help “Make America Great Again.”
The recent invasion and more is yet another illustration of one of the nuclear powers, the USA, using its economic, political, and military “force, strength and power to assert ourselves,” said Stephen Miller, one of the major architects of Trump’s intention to expand its hegemony in the hemisphere and elsewhere.
In keeping with the theme of the columns on the exercise of power by the powerful over the weak, the Venezuelan invasion and kidnapping are closely linked to international trade and an emerging direct challenge to the US dollar as the predominant international currency.
President Maduro, through increasing multibillion-dollar sales of oil to China in the petroyuan as opposed to the US dollar, has angered President Trump. More so, China, being one of the BRICS (Brazil, Russia, India, China, and South Africa), has been having its renminbi – the yuan, used in trade amongst the grouping.
Further, as the BRICS partners gain assurance and trust in each other, the countries are using their national currencies as payment amongst themselves. Nigeria is said to have also been a victim of US intervention, reportedly for accepting payment for its oil in currency other than the US dollar.
“President-elect, Trump threatened he would put 100% tariffs on BRICS countries unless they committed to never create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar,” said President Trump as he repeated his warning on CNN.
“According to the International Monetary Fund, the US dollar continues to cede ground to nontraditional currencies in global foreign exchange reserves, but it remains the preeminent reserve currency,” Arslanalp et al, 2024.
Over the last 20 years, “there has been a shift away from total US-dollar trade declining from 67 to 60 per cent,” BRICS Journal of Economics.
The nightmare of Venezuelan oil entering the BRICS trading bloc and in the yuan and or the national currencies of member states must have been a reason behind the seizure of the oil tankers bound for China. Will such a development result in additional violence?
One major issue fraught with the possibility of widespread violence is whether the American demonstration of might being right can result in a return to colonisation by those countries with armies which can inflict violence in the manner of the American demonstration against Venezuela. “These developments constitute a dangerous precedent,” a warning from UN Secretary General Antonio Guterres.
A possible outcome of the US invasion and capture of President Maduro is an increase in violence by countries with the capability to enhance their weapons systems, including nuclear weapons, to meet the challenge of matching the violence displayed by the US army. Already, President Trump has issued an instruction to the army he commands to return to upgrading the country’s nuclear weapons.
On the other side of the threat of the all-encompassing violence, President Vladimir Putin has said he will use nuclear weapons if the situation arises, and Kim Jong Un in North Korea is always ready to show off his country’s capability, including an acquired nuclear capacity.
The attack on Venezuela also decreases whatever moral authority President Trump had to be an honest and influential broker in the Russia-Ukraine war. Can he persuade President Putin to back off from taking additional portions of Ukraine?
“America needs Greenland for its security,” insists President Trump, and he has promised to take it one way or the other. “First of all, we take the American president seriously when he says he wants Greenland,” says Denmark’s Prime Minister Mette Frederickson. “If the USA chooses to attack another NATO country militarily, then everything stops,” she says, reminding that the Kingdom has the support of the European Union.
(To be continued.)
Tony Rakhal-Fraser – freelance journalist, former reporter/current affairs programme host and News Director at TTT, programme producer/current affairs director at Radio Trinidad, correspondent for the BBC Caribbean Service and the Associated Press, graduate of UWI, CARIMAC, Mona and St Augustine – Institute of International Relations.
