Under the pretext of doing its due diligence in assessing the cause for the country’s food shortage crisis, the Venezuelan government unleashed yet another round of expropriations and threats of expropriations. On Wednesday, Venezuelan government officials carried out a surprise inspection of a warehouse belonging to U.S. agri-business giant Cargill as part of the government’s investigation of retailers for alleged hoarding and price-gouging.

President Hugo Chavez often blames “capitalist speculators” for shortages of goods, but critics insist the food shortages are due to the incompetent policies of the Chavez government. Fernando Morgado, former president of local business chamber Consecomercio, says Chavez’s constant threats and intimidating tone are exacerbating the problem.

Cargill is one of several U.S. companies which have subjected to government intervention and harassment in Caracas. Others include some of America’s most iconic companies – from Pepsi, McDonald’s and Wendy’s to Hilton Hotels.

A report released by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) in May 2010 cites watertight evidence that the policies of President Chavez are wreaking havoc on Venezuela’s economy by discouraging foreign investments into the country. The ECLAC report concludes that, in 2009 alone, Mr. Chavez’s systematic nationalization of major industries has caused a negative inflow of $3.1 billion in foreign investment dollars in Venezuela.

Also on Wednesday, the mayor of Caracas ordered the expropriation of the daily El Nuevo Pais. The measure coincided with the paper’s extensive coverage of allegations that Iran is building missile bases in Venezuela, a story that was broken last week by a German newspaper.

“This appears to be a retaliatory measure,” said the paper’s editor, Rafael Poleo.”In the last few days, we had been reporting on the issue of the Iranian missile bases. We were the only daily in Venezuela doing this.”