COPENHAGEN -- Venezuelan President Hugo Chavez this afternoon said capitalism is a "terrible ghost" haunting the U.N. climate talks. "There is a ghost running through the streets of Copenhagen," Chavez told negotiators. A "terrible ghost," he said. "Capitalism is that ghost."

Chavez -- who consistently deviated from this text and held court on the plenary floor for about 45 minutes, well more than his allotted five minutes -- also spoke of joining the hundreds gathered outside to protest the talks. "I think we need to say hello to all the people out there, they are mostly young," he said.