{"id":1548,"date":"2014-11-13T11:18:07","date_gmt":"2014-11-13T16:18:07","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1548"},"modified":"2014-11-13T11:18:07","modified_gmt":"2014-11-13T16:18:07","slug":"venezuelan-bonds-are-collapsing-finmin-denies-devaluation-looming-zero-hedge","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1548","title":{"rendered":"Venezuelan Bonds Are Collapsing, FinMin Denies Devaluation Looming | Zero Hedge"},"content":{"rendered":"

Venezuelan Bonds Are Collapsing, FinMin Denies Devaluation Looming | Zero Hedge<\/a>.<\/p>\n

While talking heads proclaim – incorrectly – that low oil prices are unequivocally good for the US economy, it is very much not the case for oil producers around the world. Most notably, Venezuela – which ‘needs’ oil prices above $100 to maintain its socialist utopia – and currently ranks at a lowly 100th on the world’s prosperity index, is in grave trouble if this trend continues.\u00a0Venezuelan bonds plunged to new record lows today<\/strong>\u00a0as oil prices hit fresh cycle lows, strongly suggesting default or currency devaluation is imminent. However, as is usual (think Mexico) Finance Minister Rodolfo Marco Torres ruled out devaluation even as oil price drop exacerbates country\u2019s finances. As one analyst noted,\u00a0“there’s broad understanding that in the absence of any corrective policy measures that these guys are going to be in serious trouble.”<\/em><\/strong>\u00a0It appears they already are.<\/p>\n

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As we noted previously,\u00a0While Saudi Arabia tests the mettle of North American producers, it could be Venezuela that is the most vulnerable.<\/strong>(via\u00a0Nick Cunningham of OilPrice.com<\/a>)<\/em><\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Venezuelan Bonds Are Collapsing, FinMin Denies Devaluation Looming | Zero Hedge. While talking heads proclaim – incorrectly – that low oil prices are unequivocally good for the US economy, it is very much not the case for oil producers around the world. Most notably, Venezuela – which ‘needs’ oil prices above $100 to maintain its […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[588,592,1096],"class_list":["post-1548","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil","tag-oil-price","tag-wti-crude"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1548"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1548\/revisions"}],"predecessor-version":[{"id":1549,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1548\/revisions\/1549"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}