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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. […]
Regime Change Fails: Is A Military Coup or Invasion of Venezuela Next?
Regime Change Fails: Is A Military Coup or Invasion of Venezuela Next? The U.S. has employed all of its regime change tools in Venezuela and although so far they have failed, there is still a chance that a military attack is in store, warn Kevin Zeese and Margaret Flowers. Several signals point to a possible military […]
Venezuela Is Moving From Crisis To Collapse
Venezuela Is Moving From Crisis To Collapse Venezuela’s slumping oil production is a “clear and present danger” to the oil market, RBC Capital Markets said this week. Venezuela’s production continues to fall at a frightening clip, falling to about 1.6-1.7 million barrels per day (mb/d) in December. On an annual basis, Barclays predicts that Venezuela’s […]
Moody’s Pegs Venezuela in “Deeper Phase” Of Financial Insolvency
Moody’s Pegs Venezuela in “Deeper Phase” Of Financial Insolvency Venezuela is now in a “deeper phase of economic stress,” Moody’s Investor Service said on Wednesday, according to The Oil and Gas Journal. Falling oil production and tough economic sanctions have increased pressures on the nation’s financial capacity. Mismanagement and underinvestment in the country’s oil and […]
Trump Administration Planning Pinochet-type Coup in Venezuela
Trump Administration Planning Pinochet-type Coup in Venezuela The retrograde Donald Trump administration is planning a military coup in Venezuela to oust the socialist government of President Nicolas Maduro. U.S. Secretary of State Rex Tillerson, speaking at the University of Texas prior to embarking on a multi-nation tour throughout Latin America and the Caribbean, said the […]
How the Collapse of Venezuela Really Happened: Part 2
How the Collapse of Venezuela Really Happened: Part 2 Finally!!!! After Jose left us hanging in Part 1 of How the Collapse of Venezuela Really Happened, he’s back with part 2. In the last installment, he’d been inadvertently swept up in a mob of protesters. So, I found myself, at age 15 facing a mob coming […]
3 Million Barrels Per Day Could Go Offline In 2018
3 Million Barrels Per Day Could Go Offline In 2018 Venezuela’s oil production has been falling for years, but 2018 could mark a new, darker chapter for the South American nation. Late last year, Venezuela’s government defaulted on millions of dollars’ worth of debt, with larger and more significant payments maturing this year. The ability to […]
Analysis: Venezuela’s oil production plummets amid chaos and industry defections
Analysis: Venezuela’s oil production plummets amid chaos and industry defections Staggering debt, crumbling equipment and infrastructure, and mass worker resignations, have set back Venezuela’s oil industry decades, with experts saying they see scant prospects of any turnaround. Crude output of 1.70 million b/d lowest since strike in 2003: Platts survey Lack of safety protocols could […]
Oil-Rich Venezuela Is Out Of Gasoline
Oil-Rich Venezuela Is Out Of Gasoline After lining up for an entire day to get a plane ticket to visit her relatives in the western city of Mérida, Josefina García did not know if she and her octogenarian mother were going to reach their final destination on time for Christmas. The airport is located 76 […]
Impact of oil production decline and low oil prices: Venezuela
Impact of oil production decline and low oil prices: Venezuela Venezuelan X’mas 2017 without petrol https://losbenjamins.com/2017/12/venezuela-sin-gasolina-navidades/ Petrol lines are nothing new in Venezuela. But the problem is getting deeper and deeper: Top Venezuelan refineries are running at 34% of their capacity 17/10/2017 PUNTO FIJO, Venezuela/HOUSTON (Reuters) – Venezuela’s main refining complex, hobbled by a lack […]
