Feb 13

Maduro Kicks CNN Out Of Venezuela, Accuses It Of Spreading Fake News

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Jan 02

In “Mysterious” Bond Sale, Venezuela Issues $5 Billion In Debt To Itself With China As Underwriter:

While Venezuela CDS suggest the country’s default odds remain well over 90%, and its currency on the black market continues to plunge into the abyss of hyperinflation, something odd happened today: Venezuela’s government issued $5 billion in dollar debt for the first time in more than five years, selling bonds in an opaque transaction to the state bank Banco de Venezuela SA and the central bank, Reuters and Bloomberg report. What makes this “unorthodox operation” particularly strange, is that the government is effectively selling debt, and raising dollar funds from itself – it owns both the Banco de Venezuela and the central bank; it is also strange in that the transaction, according to Reuters, does not immediately bring in new funds for the cash-strapped OPEC nation. Continue reading »

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Dec 18

Maduro Halts Cash Ban Amid “International Sabotage” Conspiracy Theory; Blames Obama, US Treasury

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Dec 17

Venezuela Deploys National Guard As Venezuelans Protest Worthless Cash:

Protests and looting broke out in parts of Venezuela on Friday as desperate and cashless Venezuelans, angry that the government hasn’t exchanged their voided bank notes, rose up. The riots were quickly put down, however, when National Guard troops were deployed to put down the unrest.

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Dec 14

“Run On Banks” As 72-Hour Mandate Forces Venezuelans To Turn In Large Bills: Strict Cash Controls:

In the ongoing saga of Venezuela’s sad economic slide into hell, it came as a strong arm move on the part of President Maduro.

Bank runs are happening in Venezuela, but not to pull money from the banks; rather, to get their 100 Bs. bills into the banks before a 72-hour time limit expires and the notes become outlawed currency that is no longer officially recognized. Continue reading »

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Dec 11

bolivars-teaser

Maduro Stunner: Venezuela Eliminates Half Its Paper Money After Pulling Largest Bill From Circulation:

Having observed the economic chaos to emerge as a result of India’s shocking Nov. 8 demonetization announcement, and perhaps confident it can do better, today president Nicolas Maduro of Venezuela, Latin America’s most distressed economy, mired in an economic crisis and facing hyperinflation, likewise shocked the nation when he announced on state TV that just like India, Venezuela would pull its highest denominated, 100-bolivar bill (which is worth about two U.S. cents on the black market), from circulation over the next 72 hours, ahead of the introduction of new, higher-value notes, as large as 20,000.

“I have decided to take out of circulation bills of 100 bolivars in the next 72 hours,” Maduro said. “We must keep beating the mafias.”

To this we would add “and cue economic chaos”, but since this is Venezuela, that’s a given. Continue reading »

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Dec 10

Happy Socialist Christmas: Venezuala Seizes 4 Million Toys From “Price-Gouging” Importer, Gives To Nation’s Poor:

‘Toys for Socialist Tots’ appears to be the latest scheme dreamed up by Venezuela’s President Maduro to keep the people from the verge of outright revolution. As Bloomberg reports, Venezuela price regulators on Friday seized almost 4 million toys from warehouses around greater Caracas and said they’d distribute them to low income children ahead of the Christmas holiday.

William Contreras, the country’s price czar, accused toy importer Distribuidora Kreisel of hoarding and price gouging and asked that the company’s directors be detained and prohibited from leaving the country.

Flanked by national guardsmen, he said the company had received preferential exchange rates for goods it imported as early as 2009 and then raised prices by as much as 50,000 percent. Continue reading »

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Dec 03

bolivar-12-1-2016_0

“Economy Shattered, Currency Collapsing”: Venezuelans Wait In 6 ATM Lines For Enough To Buy Rice:

Is this how the economic crisis will play out in America? A cash strapped population, forced to the brink and stripped of their dignity?

Unfortunately, it is already underway in Venezuela.

Of course there is a higher standard of living in the United States overall, but tens of millions of people are already on the edge of poverty and tens of millions more can be brought to their knees in a matter of hours. Continue reading »

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Dec 01

One Scary Chart: Venezuela’s Currency Disintegrates:

It was just this past Monday when we were reported that the Venezuela currency, the Bolivar, had crashed below 3,000 for the first time ever, losing 15% of its value in just one day as the Venezuela hyperinflation had entered its terminal phase.

Today, the DolarToday.com website, maintained by a person the WSJ dubbed “Public Enemy No. 1 of Venezuela’s revolutionary government, Gustavo Díaz, a Home Depot Inc. employee in central Alabama” reports that having crossed the psychological 2,000 level ten days ago, and taking out the 3000 barrier earlier this week, the Bolivar has now plunged to a new all time low of 4,609.37 on the black market, dropping by 15% from its latest print of 2,972 reported on Friday of last week, and has lost 60% in its value just in the past month.

So for anyone still unsure what real-time hyperinflation looks like, here is the updated visual answer.

bolivar-12-1-2016_0

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Dec 01

Venezuela Braces For Hyperinflation As Merchants Weigh “Mountains Of Cash” Instead Of Counting It

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Nov 30

Judging By Their Stock Markets, The Economies Of These Two Nations Must Be Doing Great:

As the public is told day after day by mainstream media, if stock prices are up in America, it is an indication that all is well in the economy… consumers can consume, investors can invest, and producers can produce as confident citizens gorge on ever more credit (because everything is awesome). So we wonder what the ‘CNBC’ of these two countries would be saying about their stock markets’ massive outperformance…

Venezuela’s “economy” must be roaring?

venezuela-zimbabwe-stocks

Of course the point is, it matters what the numeraire is and with Bolivars hyperinflating and ZimDollars on the verge of hyperinflating as Mugabe prints money once again, these ‘markets’ are merely reflecting the collapsing worth of local currency. But hey, don’t tell the global investing public, stocks up = good news, no matter what, right?!

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Nov 28

The Hyperinflationary Endgame: Venezuela Currency Crashes 15% In One Day:

Just last week we were amazed to report that the Venezuela currency, the Bolivar, had crashed below 2,000 for the first time ever, losing 50% of its value in just two months as the Venezuela hyperinflation had entered its terminal phase.

As of this morning, the DolarToday.com website, maintained by a person the WSJ dubbed “Public Enemy No. 1 of Venezuela’s revolutionary government, Gustavo Díaz, a Home Depot Inc. employee in central Alabama” reports that having crossed the psychological 2,000 level just one week ago, the Bolivar has just plunged to a new all time low of 3,480.22 on the black market, dropping by 15% from its latest print of 2,972 reported on Friday of last week, and has lost 60% in its value just in the past month.

So for anyone still curious what hyperinflation in real time looks like, here is the visual answer.

venz-bolivar

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Nov 01

Venezuela’s Currency Disintegrates: Bolivar Plummets 20% In One Week

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Oct 29

H/t reader squodgy:

“Funny how different sourced and principled media, post different stories about the same subject. Maduro is trying to steer a path somewhere between Chavez & the opposition, but the US banksters want TOTAL rights to all oil revenue. Another example of John Perkins’ “Economic Hitmen”.
Any leader who wants the nation’s wealth to filter down to its population must be stopped at all costs by the U.S./U.K. banksers, see Ghaddafi, Saddam Hussein, Allende, Torrijos, Aguilera, ….the list is endless and the ‘coincidences’ dubious, dark and murky.
They have so far failed in Iran & Syria, but it isn’t over….till the Rothschilds sing.”


supporters-of-venezuelan-president-nicolas-maduro-attend-a-rally-in-caracas-on-october-28-2016

1000s join Venezuela pro-government rally as Maduro slams ‘failed’ strike:

Thousands of people have taken to the streets of Caracas for a third mass rally this week to support Venezuelan President Nicolas Maduro amid efforts by the opposition to topple him.

Maduro addressed the rally on Friday, saying the Latin American country has “triumphed” against US-backed efforts to destabilize it after an opposition strike planned for this week fell flat.

“The strike called by the fascist right has been a failure. They failed. Peace, work and coexistence have triumphed. Venezuela has triumphed,” Maduro said at the demonstration. Continue reading »

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Oct 23

Venezuela Braces For Revolution After Maduro Blocks Recall Referendum:

Venezuela is bracing for a revolution after Maduro’s socialist government suspended a recall vote just 1 week before it was set to begin, a move that opposition leaders have described as “a coup.”

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Sep 17

Venezuelan military personnel named to oversee food distribution:

Not a sign of progress.

(From Yahoo News)

Caracas (AFP) – Venezuela named publicly 18 military commanders to oversee the production and distribution of food and basic goods in an effort to alleviate severe shortages affecting the country.

Defense Minister Vladimir Padrino Lopez selected the military personnel for the “Great Mission of Sovereign Supply and Security,” appointments formalized in the state newspaper.

“We will have thorough, precise control of the strategic areas,” Padrino Lopez told journalists Saturday.

“This semester we will record supply levels greater than what we presented in the first semester, and next year, we will already have a structure to increase projection and improve distribution.”

Click here for the article.


Source

“Venezuelan military personnel named to oversee food distribution.” AFP, Yahoo.com, 2016-09-04.

H/t reader kevin a.

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Sep 14

Venezuela’s “Death Spiral” – A Dozen Eggs Cost $150 As Hyperinflation Horrors Hit Socialist Utopia:

Submitted by Susan Warner via The Gatestone Institute,

  • The question of whether Socialism can be an effective economic system was famously raised when Margaret Thatcher said of the British Labor Party, “I think they’ve made the biggest financial mess that any government’s ever made in this country for a very long time, and Socialist governments traditionally do make a financial mess. They always run out of other people’s money. It’s quite a characteristic of them. They then start to nationalise everything.”
  • There are dire reports of people waiting in supermarket lines all day, only to discover that expected food deliveries never arrived and the shelves are empty.
  • There are horrific tales of desperate people slaughtering zoo animals to provide their only meal of the day. Even household pets are targeted as a much-needed source for food.
  • President Maduro is doubling down on the proven failed policies and philosophies of “Bolivarian Socialism,” while diverting attention away from the crisis — pointing fingers at so-called “enemies” of Venezuela such as the United States, Saudi Arabia and others.
  • A dozen eggs was last reported to cost $150, and the International Monetary Fund “predicts that inflation in Venezuela will hit 720% this year.

For many Venezuelans, by every economic, social and political measure, their nation is unravelling at breakneck speed. Continue reading »

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Sep 02

H/t Reader squodgy:

“Hmmm!
Nothing in the Mainstream Media again!”


venezuela-protest

Massive protests in Venezuela to recall Maduro govt:

More than one million people have poured into the streets in Caracas demanding the vote recall for the Maduro government

At least 1 million Venezuelans marched Thursday in the capital, Caracas, to demand a recall vote against President Nicolas Maduro in what the opposition described as the “largest mobilization in decades”. Continue reading »

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Sep 02

H/t reader squodgy:

“I’ve always maintained that any country which chooses to share the spoils of its resources with its people is not acceptable to the bankster cartel.

If in doubt ask John Perkins, author of “The Confessions of an Economic Hitman.
A riveting true story about bribery for bankster control.

Venezuela is a classic case in point where America constantly interferes to get the oil.”


US-Led Economic War, Not Socialism, Is Tearing Venezuela Apart

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Sep 01

Ultra-Violent Venezuelan Gangs Ignore Maduro Crackdown: “Better To Fight Police, Than Each Other”:

Amid threats of violence, opponents of Venezuelan President Nicolas Maduro flooded the streets of Caracas today (2 million strong) in a major test of their strength and the government’s ability to tolerate growing dissent. However, for a nation that is forced to slaughter stallions for meat, line up for toilet paper, and dying from lack of simple medicines, Reuters reports that there is another destabilizing factor – ultra-violent street gangs are thriving“It’s better to work together than be enemies. It’s better to make war with the police than with each other.”

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Aug 24

Venezuela Will “Purge” All State Workers Who Sign Maduro Recall Petition:

Last week we reported that in addition to confiscating the guns of Venezuela’s famished population, president Maduro had a warning for would-be coup plotters (perhaps sensing that a coup is imminent): “Did you see what happened in Turkey?” said Maduro, in a televised public event on Thursday evening. “Erdogan will seem like a nursing baby compared to what the Bolivarian revolution will do if the right wing steps over the line with a coup.”

He didn’t stop here: as Bloomberg reported last week, in a replay of one of the ugliest chapters in the two-decade rule of the socialist party in Venezuela, a top government official said Thursday that a list of those who signed a petition seeking to recall President Nicolas Maduro will be handed over to government ministries and state-run companies. The tactic is clearly an attempt to intimidate government workers into staying away from the recall petition, and thus to keep Maduro in power. Continue reading »

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Aug 24

H/t reader squodgy:

“If we can’t all learn from the situation in Venezuels, which has been created by the banksters as a lesson to the people for wanting to share the spoils of their oil assets, then we have no hope.

It is coming to us all, we have had enough warnings and notice, we have no excuse.”


Total Societal Collapse: What the Media Isn’t Telling You About Venezuela:

Venezuela — Life in Venezuela now consists of empty grocery stores, record rates of violent crime, and widespread shortages of just about everything. The economic and political conditions have been deteriorating for years, but recent stories coming from this once-rich nation are astonishing. Bars have run out of beer, McDonald’s can’t get buns for their Big Macs, and rolling blackouts are a regular occurrence. The average person spends over 35 hours a month waiting in line to buy their rationed goods, and even basics like toilet paper and toothpaste are strictly regulated.

The fiasco began when the price of oil collapsed and sent Venezuelan finances into chaos. The oil-dependent nation, despite its imposing government policies, couldn’t prevent the fallout. The current problems are further compounded by rampant corruption throughout the Venezuelan government. The likelihood of a peaceful resolution is decreasing by the day, and political dissents are likely to be met with brutal crackdowns. The desperation of the masses could explode violently under the right circumstances, and there are few things more dangerous to a nation than a hungry population. Continue reading »

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Aug 23

venezuela_bakery

Venezuela’s Latest Response To Food Shortages: Ban Lines Outside Bakeries:

Submitted by Anthony Fisher via Reason.com’s Hit & Run blog,

The tragedy of Venezuela continues unabated, but that doesn’t mean the government of President Nicolás Maduro has stopped trying to fix problems like the devastating scarcity of food which has led to malnutrition, riots, food truck hijackings, vigilante lynchings of petty thieves, and the starvation of zoo animals.

No, Maduro hasn’t admitted the failure of Chavismo — the brand of Bolivarian socialism imposed on the oil-rich country by his late predecessor Hugo Chavez — instead, Venezuela’s embattled leader has launched a war on “anxiety.”

The National Superintendency of Fair Prices has reportedly instituted a policy of fining bakeries that allow lines to stretch out their front doors, according to PanAmPost. The head of this particular bureaucracy, William Contreras, claims the lines aren’t a true indicator of a severe shortage of bread, but rather, a political “strategy of generating anxiety.”

Contreras claims there is no shortage of raw materials to make bread, but seems to not understand that bakeries just bake bread, they don’t process the different kinds of wheat used to make the flour that’s then used to make bread. Continue reading »

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Aug 20

From the article:

“Did you see what happened in Turkey?” said Maduro, in a televised public event on Thursday evening. “Erdogan will seem like a nursing baby compared to what the Bolivarian revolution will do if the right wing steps over the line with a coup.


After Confiscating Their Guns, Venezuela’s Maduro Has Another Warning For Coup Plotters:

Yesterday we reported that Venezuela’s Interior Minister, Nestor Reverol, launched a campaign in Caracas to “disarm” citizens in an effort to curb rampant violence.  Venezuela has the world’s second highest murder rate which Reverol attributes, at least in part, to heavily armed gangs roaming the streets with guns which are acquired from “corrupt” police officers.  To address the violent crime issue, Venezueala has decided to chop up over 2,000 shotguns and pistols and laser tag ammunition as apparently the majority of ammunition used for violent crime in the country is manufactured by the state and “sold by corrupt police” as well.

To be sure, Venezuela does indeed have a high murder rate:

Venezuela Murder Rate

However, the real reason for the crackdown on guns was different: after last month’s failed Turkish coup, the socialist ruler is worried – with good reason – that he may be next. Continue reading »

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Aug 18

Venezuela Gun Confiscation

Venezuela Confiscates Guns As Murder Rates Soar:

Just to prove the US isn’t the only place where governments seek to cure symptoms rather than diseases for political benefit, Venezuela’s Interior Minister, Nestor Reverol, launched a campaign in Caracas to “disarm” citizens in an effort to curb rampant violence.  Venezuela has the world’s second highest murder rate which Reverol attributes, at least in part, to heavily armed gangs roaming the streets with guns that they apparently acquire from “corrupt” police officers.  To address the violent crime issue, Venezueala has decided to chop up over 2,000 shotguns and pistols and laser tag ammunition as apparently the majority of ammunition used for violent crime in the country is manufactured by the state and “sold by corrupt police” as well.  We’re noticing a trend here.  Per Reuters:

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Aug 18

Coming to a country near you soon.

And the migrant crisis, hyperinflation, hunger and civil war coming to Europe has been foreseen by Alois Irlmaier in around 1950.


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Aug 18

Coming to a country near you soon.

And the migrant crisis, hyperinflation, hunger and civil war coming to Europe has been foreseen by Alois Irlmaier in around 1950.


Jul 30, 2016

Oil-rich Venezuela is struggling to feed its people. With a spiralling economic and political crisis, the country is threatening to slide into anarchy. Vladimir Hernandez returns home to meet those struggling to survive and finds thousands queueing for hours in the hope of buying basic food items.

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Aug 09

And you better hope that he can manifest out of thin air!!!


maduro serrano

In Last-Ditch Effort To Save The Economy, Venezuela’s Maduro Hires Marxist “Jesus Christ Of Economics”:

When socialism fails, your citizens are starving and all hope is lost, you look for… Marxist Jesus? Nicolas Maduro has hired what he calls the “Jesus Christ of Economics” Alfredo Serrano, a 40-year old Marxist economist from Spain as his new main economic advisor.

The previous economic advisor, Miguel Pérez Abad, was fired last week after he endorsed the plan, which called for direct subsidies to the poorest families, the elimination of foreign-exchange controls and a reduction of price controls according to the WSJ. Continue reading »

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Aug 04

Big Events Coming & 1 Oz Silver Buys 6 Months Of Food In Venezuela

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Jul 31

Related info:

Let Them Eat Cake: Venezuela Celebrates Chavez’ Birthday With $100,000 Cake, While Citizens Starve


Starving Venezuelans Break Into Zoo And Eat Equally Starving Animals:

We can’t decide what’s sadder, the fact that the people and zoo animals are starving, or that the people are now eating the animals.

 A food shortage plaguing Venezuela right now has thrown citizens into a frenzy in search for sustenance and they have resorted to breaking into zoos to butcher and eat the animals.

Last week, groups of intruders broke into Caricuao Zoo in Caracas, Venezuela, pulled a rare black stallion from its cage, and slaughtered him there on the spot. They left behind only his head and ribs, which zookeepers found in the morning when they entered to care for the lone horse. Continue reading »

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