Veto Power and Democracy

Is there any democracy in a veto power? Democracy means ruling of the majority, but if the majority can be vetoed by the few elites it is no justice whatsoever. US is exporting its democratic ideals to other peoples of the world (it even enforce it against the will of the people, e.g., Iraq - which is very much in contrast with the principle of democracy).
However, in the United Nations there are five powerful nations that have veto powers. And the three (the US, Britain and France) are so-called proponents of Democracy, that is ironic. Veto power in the UN simply does not respect the will of the majority nations.
In the US, the President has the power to veto the ruling of the Congress. Therefore, the US has no right to boast its democracy around the world because it is the nation that has violated the most all the basics of democracy and human rights.