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Venezuelan Oil Enters The Disaster Zone
Venezuelan Oil Enters The Disaster Zone The decline of Venezuela’s oil production for the foreseeable future has been assumed, and to a large extent, already priced into the market. However, an acceleration in the rate of decline is possible, and a few recent developments raise the odds that such a disaster will become a reality. […]
Venezuela Knocks Three Zeros Off Its Currency to Halt Hyperinflation
Venezuela Knocks Three Zeros Off Its Currency to Halt Hyperinflation Redenomination is Venezuela’s sorry story of the day. It won’t work. In a worthless attempt to halt hyperinflation, Venezuela Deletes Three Zeros From Its Failing Currency. Socialist Venezuela is going through a crisis that has left people struggling to pay for food and find medicines. […]
Venezuela’s Inflation Surges to A New High: 8321%
Venezuela’s Inflation Surges to A New High: 8321% After Venezuela ditched its multiple exchange-rate system and announced that it would introduce a new cryptocurrency (read: the petro), the hapless bolivar staged a bit of a rally. Many people concluded that the rally was the result of these two policy changes. While that conclusion might hold […]
The Single Largest Supply Risk In Oil Markets
The Single Largest Supply Risk In Oil Markets Venezuela could be the reason that “tips the market decisively into deficit,” the International Energy Agency said in a new report. Venezuela lost another 60,000 barrels per day (bpd) in February, according to the Paris-based energy agency, and continues to present the largest supply risk to the […]
Venezuela’s 4,000% Hyperinflation ‘Breaks’ Cash-Weighing Scales
Venezuela’s 4,000% Hyperinflation ‘Breaks’ Cash-Weighing Scales Mired in a brutal economic collapse, Venezuela refuses to publish basic statistics. So Bloomberg created their own gauge to measure one of the most important of all the missing figures – inflation (or hyperinflation in this case). Bloomberg explains that, as the name would suggest, it tracks just one […]
Venezuela’s Inflation Surges to A New High: 7459%
Venezuela’s Inflation Surges to A New High: 7459% After backing off over the past month and a half, Venezuela’s hyperinflation is surging again, making a new high of 7459% yr/yr. The Grim Reaper has taken his scythe to the Venezuelan bolivar. The death of the bolivar is depicted in the following chart. On the black […]
The Collapse of Venezuela Was “a systematic destruction to seize our freedom”
The Collapse of Venezuela Was “a systematic destruction to seize our freedom” Editor’s Note: As we begin to become more concerned about the possibility of our own economic collapse, it’s important to see what has happened in other countries. Today, Jose explains how the collapse of Venezuela was deliberately engineered to make the populace bend […]
How to Survive When Prepping Just Isn’t Enough
How to Survive When Prepping Just Isn’t Enough Have you noticed a sense of urgency in the prepping community lately? Maybe it’s the tensions with North Korea. Maybe it’s the slow-motion collapse of the brick-and-mortar retail industry. Maybe it’s a contagion from the other places around the world that are actively preparing for the potential […]
America’s Democracy Hypocrisy
America’s Democracy Hypocrisy In late February, Venezuela’s government began accepting presidential candidate registrations and announced a snap legislative election for April. The country’s opposition denounces the process as a sham and Maduro as a dictator, both of which may be true. Oddly, a third voice — the US government — also weighed in. Per US […]
Venezuela’s New Cryptocurrency: Just Another Form of Control Fraud
Venezuela’s New Cryptocurrency: Just Another Form of Control Fraud If a currency can’t be converted on demand into the underlying commodity, it’s not “backed by oil,” it’s just another form of control fraud. The broke and broken country of Venezuela appears to be the first nation-state to issue a cryptocurrency token (the petro) as a […]
After Releasing Oil-Backed Petro, Venezuelan President Hints At Gold-Backed ‘Petro Oro’
After Releasing Oil-Backed Petro, Venezuelan President Hints At Gold-Backed ‘Petro Oro’ After the launch of the Venezuelan government-backed cryptocurrency the Petro on Feb. 20, President Nicolas Maduro has already hinted at second government cryptocurrency soon to be released, according to government-sponsored news outlet TelSsur. This time, the government-backed cryptocurrency will be backed not by oil, […]
Russian Central Bank Buys Gold – 600,000 Ounces Or 18.7 Tons In January As Venezuela Launches ‘Petro Gold’
Russian Central Bank Buys Gold – 600,000 Ounces Or 18.7 Tons In January As Venezuela Launches ‘Petro Gold’ – Russian central bank buys gold – large 600,000 ounces or 18.7 tons of gold in January – Russia increased its holdings to 1,857 tons, topping the People’s Bank of China’s ‘reported’ 1,843 tons – Russia surpasses China as […]
“The Petro Is Born Today” – Maduro Launches Oil-Backed Crypto “For The Welfare Of Venezuela”
“The Petro Is Born Today” – Maduro Launches Oil-Backed Crypto “For The Welfare Of Venezuela” More than two months after Venezuelan President Nicolas Maduro announced his intention to launch the world’s first state-sponsored cryptocurrency to try and help Venezuela raise some badly needed foreign capital, the Petro – backed by 5 billion barrels of oil […]
Canada vs. Venezuela: Have the Koch Brothers Captured Canada’s Left?
Canada vs. Venezuela: Have the Koch Brothers Captured Canada’s Left? Photo by Eden, Janine and Jim | CC BY 2.0 With a U.S.-backed military coup or invasion in Venezuela looking ever more likely, Canada’s progressive leftists are pushing for the federal New Democratic Party (NDP) to abandon its “reactionary” foreign policy position on that country. […]
