First Bank of United Socialists States of South America

Dictator for life wannabe, Hugo Chávez has proposed at the meeting of the Non-Aligned manure producers in Cuba the formation of a Bank of the South. Now rogue states, terrorists and dictators can have their own financial institution (away from the pesky watchful eyes of the banks from North and the World Bank) to move around money as they please for their various nefarious causes. Of course, it would not be limited to Latin-American nations; surely, Mahmoud of Iran will play a big role in the bank’s funding.

Chavez proposes ‘Bank of the South’

Havana, Sept 16: Venezuelan President Hugo Chavez has proposed the creation of a Bank of South American nation to use international reserves for financing the development of these countries. "If we are going to have a Bank of the South, we cannot lose one single day to use our international reserves to finance our development," he told the 14th summit of 118-nation NAM here yesterday.
"Where are our reserves today?... In the countries of the North. This is about re-launching the potential of NAM and the basis of unity of this movement," Chavez said. Read [more].

Chávez also proposed the formation of a “Commission of the South,” which will be lead by non other than the Cuban skeletor, fidel castro. The Commission will advance the idea of the integration of Latin-American states, becoming a singular economic block and common coinage, and with Chávez at the helm.

El trabajo de esta comisión estaría centrado, según Chávez, en temas que en reiteradas ocasiones el mandatario ha mencionado. Un Banco del Sur, una petrolera del Sur, un sistema universitario y una televisora, se encontrarían entre las “propuestas” que Chávez ha planteado al resto de países de América del Sur, según dijo. More [in Spanish].

Translation: The work of this commission would be centered…one bank of the South, one oil company of the South, one university system and one television network.