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Tag Archives: venezuela
Venezuela Bankrupt? Caracas Fails To Make Sept 15 Interest Payment
Venezuela Bankrupt? Caracas Fails To Make Sept 15 Interest Payment Exactly one week ago, we wrote that a “Venezuelan default is only a matter of time”. We said that “while debt servicing has been a government priority, declining external liquidity and a deteriorating domestic situation (three-digit hyperinflation, shortages, and a political crisis between the government […]
Venezuela Begins Publishing Oil Basket Price In Yuan
Venezuela Begins Publishing Oil Basket Price In Yuan Two days after the WSJ confirmed Maduro’s earlier threat that he would stop accepting US Dollars as payment for crude oil imports, Venezuela has done just that. As a reminder, and as we reported previously, in an effort to circumvent U.S. sanctions, Venezuela told oil traders that […]
Venezuela Has Officially Abandoned The Petrodollar – Does This Make War With Venezuela More Likely?
Venezuela Has Officially Abandoned The Petrodollar – Does This Make War With Venezuela More Likely? Venezuela is the 11th largest oil producing country in the entire world, and it has just announced that it is going to stop using the petrodollar. Most Americans don’t even know what the petrodollar is, but for those of you […]
De-Dollarization Spikes – Venezuela Stops Accepting Dollars For Oil Payments
De-Dollarization Spikes – Venezuela Stops Accepting Dollars For Oil Payments Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight? Source: The Burning Platform Apparently confirming what President Maduro had warned following the recent US sanctions, The Wall Street Journal reports that Venezuela has officially stopped […]
Next up for Venezuela: PDVSA’s inevitable default — #SaxoStrats
Next up for Venezuela: PDVSA’s inevitable default — #SaxoStrats Venezuelan default a near-certainty National oil firm key to country’s financial future Production rise will require private sector involvement Caracas, Venezuela: As Venezuela’s finances teeter on the brink, its national oil firm looks to boost production. Photo: Shutterstock A Venezuelan default is only a matter of […]
Peak oil in Latin America
Peak oil in Latin America This post is using mainly BP’s Statistical Review published in June 2017. Although these statistics put Mexico under North America, it is included here and added to South and Central America’s data at the end of this article. We start with 2 big oil suppliers: Brazil and Venezuela. Fig 1: […]
Venezuela Is About to Ditch the Dollar in Major Blow to US: Here’s Why It Matters
Venezuela Is About to Ditch the Dollar in Major Blow to US: Here’s Why It Matters (ANTIMEDIA) — Venezuelan President Nicolas Maduro said Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week, Reuters reports. According to the outlet, Maduro will look to use the weakest of two official foreign exchange regimes (essentially the way […]
Venezuela Headed For “Messiest Debt-Restructuring In History” Thanks To US Sanctions
Venezuela Headed For “Messiest Debt-Restructuring In History” Thanks To US Sanctions After being effectively shut out from global financial markets – a situation that was made more precarious by US sanctions prohibiting purchases of Venezuelan debt (unless you’re buying them off Goldman Sachs, should the bank’s asset-management arm desire to liquidate its $3 billion “hunger […]
What to Do When Government Money Goes Bad
What to Do When Government Money Goes Bad First, they sold their car. Then, they downsized from a house to a small apartment. Next, they cut meat from their diets. And now, they skip meals to ensure survival. This is the story of Vanessa Posada and her husband Adolfo. They live in Venezuela. And their […]
China Slams White House For Latest Sanctions On “Close Ally” Venezuela
China Slams White House For Latest Sanctions On “Close Ally” Venezuela Shortly after the White House unveiled new sanctions last Friday against Venezuela while prohibiting U.S. trading in various bonds issued by the country (while exempting the notorious Goldman “Hunger Bonds”), Venezuela’s “close ally” China slammed the latest diplomatic crackdown and said on Monday that […]
Venezuela: Dictatorship, Collapse And Consequence
Venezuela: Dictatorship, Collapse And Consequence If you want to outline the numerous failures of ideological and economic socialism, just name any socialist nation and you are sure to uncover an endless supply of examples. In fact, many countries where socialism is not total but making considerable inroads often suffer from severe decline — the U.S. […]
Letters from Venezuela: This Is What Life Is Really Like in a Post-Collapse Society
Letters from Venezuela: This Is What Life Is Really Like in a Post-Collapse Society If you ever wondered what life was really like in a post-collapse society, look no further than Venezuela. Today, I’d like to share a first-hand report of everyday life there. The country has been on the way down since a socialist […]
Will Venezuela Be The Battleground In The Next U.S.-Russia Proxy War?
Will Venezuela Be The Battleground In The Next U.S.-Russia Proxy War? (MPN) There’s no denying that Venezuela is deeply embroiled in a significant crisis. While most are aware of the country’s recent string of violent protests, food shortages and government crackdowns on opposition protesters, few are aware of the opposition’s use of underhanded and downright illegal […]
Venezuela’s Oil Production On The Brink Of Collapse
Venezuela’s Oil Production On The Brink Of Collapse Desperation is spreading in Venezuela as violent protests continue to paralyze the country, further damaging the country’s shattered economy. Venezuela’s already-decrepit oil industry is deteriorating by the day, and an outright implosion is no longer out of the question. The inflation rate, according to the IMF, will […]
Global Collapse: Children Are Literally Starving To Death In Venezuela And Yemen
Global Collapse: Children Are Literally Starving To Death In Venezuela And Yemen Venezuela and Yemen were both once very prosperous nations, but now parents are literally watching their children starve to death as the economies of both nations continue to utterly collapse. Just like so many here in the United States, most of those living […]
