Asked about his governing methods, Chavez dismisses the idea that he rules by decree, saying instead that he leads a society that is both socialist and democratic. He calls himself "an enemy of an empire who wants to dominate the world" but a "friend of equality and freedom."
Though Chavez affirms his support for the state of Israel, he also says that he would support Iran against any attack from the United States. Chavez expresses doubt that there would ever be such an attack, cautioning that it would be "a boomerang" and seen as an attack against the entire world.
Chavez also updates Walters on the health of his friend Fidel Castro of Cuba. He says that Castro is making a remarkable recovery from a very serious illness and insists that the Cuban leader has not stopped governing. Says Chavez: "He's got a rein in his hand and the other rein is in Raul's [Fidel's brother's] hand."
Walters asks Chavez about Bush's just concluded five-nation trip through Latin America, asking how he'd rate it on a scale of one to 10. "One," says Chavez. "One, because I am generous. Because it could be minus five."