Fonden Papers Part IV: El Mundo’s Headline: Fonden Accounts do Not Add Up!

September 1, 2011

I have no idea if what Quico in Caracas Chronicles and I have been writing about Fonden has anything to do with today’s front page in El Mundo (part of the article here):

Fonden Accounts do not add up

Report sent by the Ministry of Finance shows an unknown amount of US$ 28 billion. Opposition Deputies will ask for clarification of the numbers of the fund that feeds from the abundant oil income.

but I do get some satisfaction that it is getting coverage after our effort!

35 Responses to “Fonden Papers Part IV: El Mundo’s Headline: Fonden Accounts do Not Add Up!”

  1. Andres Says:

    If you want to see “Proyectos 2008”, you need to see this caché:
    Thanks to a tweet coment of Lechuga Verde!

  2. George Best Says:

    “I hope that punishment will be equally proportional”


  3. Miguel Octavio Says:

    He asked for more details a few weeks ago and has not heard yet, i dont think he is going to write aibout a single project, he has to wait for the full answer and then start again.

    • Kepler Says:

      I don’t know but perhaps he could have written a series of questions, like 20 questions…and published those questions on his site for everyone to see what we should be expecting.

  4. JMA Says:

    Our glorious leader, just out of chemo …

  5. JMA Says:

    As a public service to all of us mere mortals, I would like to share with you some thoughts of a number of Chavez’ cabinet members, National Assembly members, and stalwarts of the glorious bolivarian revolution. Thank you in advance.

    “El Gobierno de Chavez se integra en funcion de un sueño y garantiza las sonrisas de todos los niños. En capitalismo eso no es posible.”

    José Terán, viceministro del Poder Popular para el Deporte y Conrado Rovero viceministro para la Articulación Educativa (whatever that is)

    (Holy cow! Humans don’t’ even expect that from God Himself. That Chavez must be really something, making every kid to smile. Capitalism = bad for the kids. Chavez (Smilex®) = Good for the kids.)

    “Las universidades de la revolucion son oportunidades reales de presente y futuro para nuestro pais”

    Viceministro de políticas estudiantiles del Ministerio del Poder Popular para la Educación Universitaria, Jehyson Guzmán

    (Jehyson: is that a real name? One thing is sure. I will never fill a position with such a long title)

    “La Revolución Bolivariana le ha otorgado al pueblo organizado mayor poder para administrar recursos económicos, realizar contraloría social y elaborar leyes que permitan el bienestar de todos los ciudadanos”

    Héctor Navarro, diputado a la Asamblea Nacional (AN) por el Partido Socialista Unido de Venezuela (Psuv)

    ($29 billion anyone? This guy is a gold mine!!!)

    “La única vía para asegurarle la alimentación al pueblo es a través de la Gran Misión AgroVenezuela”

    Juan Carlos Loyo, Ministro del Poder Popular para la Agricultura y Tierras

    Esto lo dijo desde la unidad de propiedad social “Batalla de Calabozo” en Guárico. El Ministro señaló que de acuerdo a estudios realizados el arroz es uno de los rubros más importantes para la dieta de los venezolanos.

    (Really? Well, I had some suspicion about that, but thanks to the research commissioned by Loyo, it is confirmed!)

    “Por esa razón nos hemos enfocado en el desarrollo de este cereal y hoy vamos a demostrar cómo se realiza la producción”

    (So, we didn’t know how to plant rice before? Damn! Guys, I am telling you. It was those thugs from the 4th republic. They are the ones to blame for the fact that we didn’t know how to plant rice. Good thing we have Chavez Now!)

    El ministro para Vivienda y Habitat, Ricardo Molina entrega 360 “casas dignas” en Valera, estado Trujillo como parte de la Gran Misión Vivienda Venezuela. Al respecto, señaló que las viviendas “se realizaron en terrenos que estaban siendo usufructuados por el capitalismo, vivían familias que eran explotadas para la producción agrícola”.

    (And, in the whole country that adds up to a grand total this year of … ?)

    Carlos Sierra, Diputado a la Asamblea Nacional por el PSUV, consideró que el tema de la inseguridad no debe ocultarse sino trabajar para lograr disminuirla, a través de la depuración del sistema judicial y la política de desarme. Recordó que la inseguridad no es un tema que corresponde solo al Ministro El Aissami o a un Gobernador, cree que debe ser abordado entre todos y fortalecer el Poder Popular para acabar con la inseguridad.

    (The criminal justice system has to be revamped and criminals have to be disarmed [I’d love to see how they would pull that off]. That is OK with me. So, what are we going to do with criminals. Oh and BTW, Sierra does not have to worry about someone trying to conceal the problem of criminality in Venezuela. I am pretty sure that would be next to impossible! Finally, It is not only the authorities who have to tackle criminality. We all have to participate too. Everyone here, do your duty and begin chasing malandros in Petare!).

    Este viernes, el Ministro del Poder Popular para la Alimentación, Carlos Osorio, realizó un recorrido en la empresa ‪Procesadora de Harina La Veguita‬, desde el lugar, explicó el desarrollo del sistema agroalimentario:

    ‪”Esta harina va a todo nuestro consumo, a la red Arepera Venezuela, para asegurarle a los venezolanos el consumo de este producto”, explicó Osorio desde el estado Barinas. Del mismo modo, explicó en qué consiste la estrategia “punto y círculo”, impulsada por el presidente Chávez.

    (And, thaaaaaaaaaaaaaaaat was the explanation for how to develop the food production industry in Venezuela. Sorry, no explanation for Chavez’ “punto y circulo” strategy. I suspect it involves some advanced physics, though).

    “También destacó que “la harina es uno de los productos más consumido en el mundo”.

    (No shit!)

    Que Dios nos coja confesados … y con mucha vaselina!

    • CharlesC Says:

      The “choirboy” National Assembly is the biggest bunch of
      dimwits I have ever seen. What an example of simplistic,
      nonsense-they have no limit.
      Here’s a joke -“chavista science”, chavez philosophy of
      education- que estupido!!This is true devolution.
      And- think how stupid the military must be if they are
      anything like these morons…
      Not one single General- speaking out-why?

  6. Well Carolina, this is an amazing combination, a Chavista official tying to buy a house from a Russian! I met a Russian fund manager a couple of years ago who told me: After being in Venezuela for one week, I no longer believe Russians are the most corrupt people in the world.

    • Carolina Says:

      Se pagan y se dan el vuelto. Not too sure how to translate that.

    • megaescualidus Says:

      In this 149 country list —> Venezuela is not The Most corrupt country. There are 11 countries rated closer to the bottom. BTY, is Somalia a real country? Apparently it is not in the real sense, so technically Venezuela is 10 steps from the very bottom of the list.

      • CharlesC Says:

        I am surprised that Ecuador and Haiti were so high.
        And, Congo -less corrupt than Venezuela!
        And Zimbabwe- i guess if you don’t have anything
        it is hard to be very corrupt..however I consider
        Robert Mugabe- brother and teacher of Chavez
        extremely corrupt.
        Actually- from the halfway point down- they are all extremely corrupt
        and less so as approaching the top- point is-corruption everywhere
        but -epidemic levels toward the bottom…

  7. Carolina Says:

    This is awesome!
    I was looking at the newspaper and since I design houses for a living it called my attention the $45 million to “buy properties” for the embassy in Russia. That is an outrageous number!
    The most expensive homes in the world are at $150 million and there are just a little few. Tiger Woods new super ultra luxurious house is $55 million.
    Let’s say they bought two buildings, a house for residence and one for offices. A $6 million house is already an ultra luxurious house. Even a $3 million one.
    Plus an 3 stories office building at…what, 12 million, give it or take?
    Minus the selling of whatever we already had there? (or we had nothing?)
    Wow. It seems to me like every item on this Fonden issue is going to need an explanation.

    • Kepler Says:

      They already have an embassy in the inner ring of Moscow and another place for the military attaché. I want to find out about the prices in the area where the new building was/will be bought.

      Do you think it’s possible to ask Ramos to demand details about the location of the new place? This should be possible.

      As for Venezuela being more corrupt than Russia: absolutely and that means a lot, a terrible lot.

  8. A_Antonio Says:

    ¿Dónde están los reales? (LUIS HERRERA CAMPINS) = Show me!, where is the Money?.

  9. CharlesC Says:

    What do you call a President
    who runs his mouth all day -but
    when$29 billion comes up missing
    is silent? Guilty.

  10. extorres Says:

    Dame mi plata!

    • Bloody Mary Dry Says:

      Yes, the missing money is equal to $1000 per each woman, man, and child of the country…….. This is a big scale assault.. to each of us…. We are a family of five…. so where the fuck are my US$5000?

  11. Gringo Says:

    But NOW is the time to create a “shortcut” (handle) for this scandal

    FONDEN: 29 mil millones de fondos perdidos.

  12. Jeffry house Says:

    Of course it is due to your efforts! You’ve done e analysis that proves a rat is loose in the account, and the other journalists are now chasing it.

    Worldwide coverage of Venezuela is driven in part by this site and the Caracas site. Congratulations on this, it was a huge scoop.

  13. Kepler Says:

    Fonden es 17000 más corrupción que partida secreta de CAP
    Destruyeron tu fondo para el desarrollo.

  14. deananash Says:

    It needs to be converted into an easy sound bite – think bumper sticker. Something akin to the Chavez…strike three campaign.

    The rotting food is a good example. While everyone knows the story, there is no “shortcut” to talk about it. The time to create that shortcut was back then, it’s too late now.

    But NOW is the time to create a “shortcut” (handle) for this scandal.

    Miguel and Quico have done their part. Who has ideas for a clever expression???

  15. gordo Says:

    The rotting food fiasco stayed in the news for months! This one should needs to stay alive until somebody high up pays a price… or there should be public outrage!

  16. JMA Says:

    Congrats Miguel! I am sure you and Quico are the ones to “blame” for inducing those journalists at El Mundo to tackle this story. However, I must say that $29 billion looks increasingly to me like petty cash compared to what I suspect these thugs have stolen. Keep up the excellent work!

  17. Gringo Says:

    Miguel, your cries in the wilderness are sometimes heard. Congratulations.

    I wonder if this will lead to prosecution of the Deputy for having leaked “classified information.”

  18. Bloody Mary Dry Says:

    This is like Carlos Andrés’ “partida secreta” but like 17,000 times more money……(and 17,000 times more secret and darker): I hope that punishment will be equally proportional.

  19. island canuck Says:


    Research and Markets: Venezuela Real Estate Report Q3 2011

    Not much that we didn’t already know.
    Basically the real estate market is non existent.

  20. George Best Says:

    Once upon a time in the wild west……

  21. island canuck Says:

    Maybe now the other big dailies will pick it up.

    Good work both of you.

    As I’ve said before this is the big slush fund that they don’t want to account for.
    The comments from the red mouth pieces will be flowing soon

  22. John Barnard Says:

    (applause) Good job!

  23. CarlosElio Says:

    “but I do get some satisfaction that it is getting coverage after our effort!” Isn’t that what social activism is all about?

    In matters of heaven, as Paul wrote in Corinthians I:13 “Love seeks not its own, understands everything, forgives everything, endures everything”, but in terrestrial matters we want to see results!

    So, regardless of whether the El Mundo reporters got a helping hand from yours and Quico’s posts, I would be happy thinking they did.

    Let’s celebrate. Congratulations!

  24. ErneX Says:


  25. Kepler Says:

    Groovy, man! Kudos to you!

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