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> It happens that it is LAW. ..at the time was at 70$ .. and any amount above that would go to a PERSONAL presidential account that Chavez controls

This sounds like propaganda. Got a link to this law?

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Sorry I can't find a direct link to the law http://www.noticierodigital.com/2011/04/el-nuevo-herald-chav...

It's a national development fund controlled by the president, not his personal bank account. It is suggested by analysts that Chavez uses the money as his way to "buy elections" (probably by subsidizing the poor, and not helping the "trickle down" economy by giving the money to the rich). Of course some money gets lost, it always does, right or left goverment.

It's a national development fund controlled by the president, not his personal bank account. It is suggested by analysts that Chavez uses the money as his way to "buy elections"

So it's a fund controlled by the president in a government where he does not have to respond to anyone. Would you mind explaining how is that not his personal bank account?

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