The coup followed days of strikes and mass protests which had been initiated and organised by business councils and business-friendly trade unions. For several months, the national oligarchy had provoked civilian opposition to the Chavez-led government, as the planned social and land reforms would have compromised their established privileges.

The power grab had been predicted by many observers as both the IMF and financial businesses such as Morgan Stanley had come out in support of a 'transitional government' for Venezuela, supporting Chavez's removal from office. US secret services and military personnel have been operating in the region because of their involvement in Plan Colombia and have repeatedly made clear that they don’t approve of the Chavez-government’s policies either.

Analysis of the situation prior to the coup:
Predictions on Narco News
Zmag: "An imminent coup?"
Schnews: Oil-Derado

Chavez won the Venezuelan Presidency in 1998 and 2000 by the largest majorities in four decades. Using this enormous popularity, he implemented an unprecedented number of reforms including: a new Constitution providing guarantees for indigenous and women's rights; free health care and education up to the university level; a restructuring of the judicial and legislative branches to reduce corruption; and a reinvigoration of OPEC that resulted in raising oil prices.

Both his attempts to limit the access of oil corporations to the vast Venezuelan oil resources, and his resistance to Plan Colombia and the military encirclement of Colombia, triggered opposition by the US government. Several observers have compared the situation with the 1973 coup in Chile, where US secret services had played a crucial role in assisting the army at removing the progressive Allende-government.

Read more:
Coup in Venezuela: Eyewitness Account
Coup in Venezuela: Article by IMC Portland
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