{"id":2445,"date":"2014-12-04T13:15:26","date_gmt":"2014-12-04T18:15:26","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2445"},"modified":"2014-12-04T13:15:26","modified_gmt":"2014-12-04T18:15:26","slug":"venezuela-boosts-reserves-with-rocks-other-easily-converted-to-cash-stuff-suffers-major-blackout-zero-hedge","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2445","title":{"rendered":"Venezuela “Boosts” Reserves With Rocks, Other “Easily Converted To Cash” Stuff; Suffers Major Blackout | Zero Hedge"},"content":{"rendered":"

Venezuela “Boosts” Reserves With Rocks, Other “Easily Converted To Cash” Stuff; Suffers Major Blackout | Zero Hedge<\/a>.<\/p>\n

With its bonds trading at 50% of face value, CDS implying an 84% chance of default<\/strong>, a black-market FX rate that signals massive devaluation is likely, and a teetering-on-the-brink of social unrest population entirely dependent on President Maduro’s generosity (and the military junta), it is perhaps not entirely surprising that they are trying any trick in the book to bolster reserves. The Venezuelan Central Bank issued a statement today (akin to Europe’s hookers-and-blow GDP adjustment) that enables them to\u00a0count a whole new set of ‘assets’ as potential international reserves<\/strong>\u00a0including “stones” and “precious metals held in their vaults on behalf of foreign financial institutions.” Hey presto… new reserves.<\/p>\n

Risk is rising…<\/p>\n

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And Reserves are sliding<\/p>\n

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So make up some new ones…As Bloomberg reports,<\/em>\u00a0Central bank sends e-mailed statement explaining parts of new central bank law issued by President Nicolas Maduro.<\/p>\n

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

Venezuela “Boosts” Reserves With Rocks, Other “Easily Converted To Cash” Stuff; Suffers Major Blackout | Zero Hedge. With its bonds trading at 50% of face value, CDS implying an 84% chance of default, a black-market FX rate that signals massive devaluation is likely, and a teetering-on-the-brink of social unrest population entirely dependent on President Maduro’s […]<\/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":[2,3],"tags":[78,1626,951,1627,851],"class_list":["post-2445","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-blackout","tag-cds","tag-currency","tag-international-reserve","tag-venezuela"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2445","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=2445"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2445\/revisions"}],"predecessor-version":[{"id":2446,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2445\/revisions\/2446"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}