{"id":23740,"date":"2017-04-23T18:16:03","date_gmt":"2017-04-23T23:16:03","guid":{"rendered":"http:\/\/olduvai.ca\/?p=23740"},"modified":"2017-04-23T18:16:03","modified_gmt":"2017-04-23T23:16:03","slug":"venezuela-on-the-verge-of-revolution-as-hyperinflated-currency-crashes-to-new-record-low","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=23740","title":{"rendered":"Venezuela On The Verge Of Revolution As Hyperinflated Currency Crashes To New Record Low"},"content":{"rendered":"

Venezuela On The Verge Of Revolution As Hyperinflated Currency Crashes To New Record Low<\/a><\/h3>\n
<\/section>\n
<\/div>\n
\n
Venezuela, a country with only $10 billion\u00a0left<\/a>\u00a0in reserves to run on, is in trouble<\/strong>. As the currency hyperinflates to new record lows against the dollar…<\/div>\n
\n

<\/a><\/p>\n

James Holbrooks points out<\/a> that the people are\u00a0starving<\/a>. The government has gone full-on\u00a0authoritarian<\/a>, and now desperate human beings are dying in the streets. From an Associated Press<\/em> report<\/a> on Friday:<\/p>\n

\n
\u201cAuthorities in Venezuela say 12 people were killed overnight following looting and violence in the South American nation\u2019s capital amid a spiraling political crisis.\u201d<\/em><\/div>\n<\/blockquote>\n

<\/a><\/p>\n

<\/div>\n
\n
Continuing, the report further highlighted the gravity of the situation:<\/div>\n<\/div>\n
\n
\u201cMost of the deaths took place in El Valle, where opposition leaders say 13 people were hit with an electrical current while trying to loot a bakery protected by an electric fence.\u201d<\/em><\/div>\n<\/blockquote>\n

These are people without options, forced to turn to thievery to stay alive. <\/strong>And they died because of it.<\/p>\n

On April 6, The Economist<\/em> reported<\/a> that over the past year, 74 percent of Venezuelans lost an average of 20 pounds. <\/strong>Venezuela, incidentally, has topped<\/a> Bloomberg<\/em>\u2019s Economic Misery Index for the past three years.<\/p>\n

The country began its slide downward into chaos with the election of President Nicolas Maduro, who immediately began implementing socialist programs and has since taken extreme measures to secure his position.<\/p>\n

At the end of March, for instance, Maduro effectively shut down<\/a> Venezuela\u2019s congress \u2014 his primary political opposition \u2014 and gave those legislative duties to his puppet Supreme Court.<\/strong><\/p>\n

The latest news coming out of the South American nation \u2014 aside from the deaths of people trying to steal bread to live \u2014 is that General Motors, whose Venezuelan production facility was overtaken by local authorities, has now ceased<\/a>\u00a0all operations in the country.<\/p>\n

To put that in perspective, consider that in 2016, only 3,000 vehicles were sold<\/a> in Venezuela, a country of 30 million people.<\/p>\n

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

Venezuela On The Verge Of Revolution As Hyperinflated Currency Crashes To New Record Low Venezuela, a country with only $10 billion\u00a0left\u00a0in reserves to run on, is in trouble. As the currency hyperinflates to new record lows against the dollar… James Holbrooks points out that the people are\u00a0starving. The government has gone full-on\u00a0authoritarian, and now desperate […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","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":[2,6],"tags":[5059,212,413,14794,685,839,851,4318],"class_list":["post-23740","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-currency-debasement","tag-dollar","tag-hyperinflation","tag-james-holbrooks","tag-revolution","tag-us-dollar","tag-venezuela","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23740","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=23740"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23740\/revisions"}],"predecessor-version":[{"id":23741,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23740\/revisions\/23741"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}