Category Archives: Venezuela

Rex Tillerson got burned in Venezuela. Then he got revenge. – The Washington Post

Rex Tillerson hadn’t been CEO of ExxonMobil very long when the late president Hugo Chavez made foreign oil companies in Venezuela an offer they couldn’t refuse. Give the government a bigger cut, or else.

Most of the companies took the deal. Tillerson refused.

Chavez responded by nationalizing ExxonMobil’s considerable assets in the country, which the company valued at $10 billion. The losses were a big blow to Tillerson, who reportedly took the seizure as a personal affront.

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Only Tillerson didn’t get mad, at least in public. He got even.

Rex Tillerson got burned in Venezuela. Then he got revenge. – The Washington Post

Socialist Military Selling Food at 100x Regulated Price to Starving Venezuelans

The military under the socialist regime of Venezuelan President Nicolas Maduro is capitalizing on the misery of the people they are sworn to protect by running illegal markets that sell food at 100 times the government-set price while much of the South American country finds itself on the verge of starvation, the Associated Press (AP) has learned.

“Lately, food is a better business than drugs,” retired Venezuelan Gen. Cliver Alcala told the AP. “The military is in charge of food management now, and they’re not going to just take that on without getting their cut.”

Socialist Military Selling Food at 100x Regulated Price to Starving Venezuelans

In Venezuela, lynchings kill one person every three days: report | Reuters

Roughly one person is being lynched in crisis-ridden Venezuela every three days as frustrated residents take revenge on suspected criminals, a monitoring group said on Wednesday.

The Venezuelan Observatory of Violence (OVV), which monitors crime, said mob killings have become a generalized phenomenon across the country, with 126 deaths reported in 2016 versus 20 last year.

“Due to being repeated victims of crime for more than a decade, and the feeling of not being protected, many people have decided to take justice into their own hands,” the OVV said in its latest annual report.

In Venezuela, lynchings kill one person every three days: report | Reuters

Some poor Venezuelan parents give away children amid deep crisis | Reuters

Struggling to feed herself and her seven children, Venezuelan mother Zulay Pulgar asked a neighbor in October to take over care of her six-year-old daughter, a victim of a pummeling economic crisis.

The family lives on Pulgar’s father’s pension, worth $6 a month at the black market rate, in a country where prices for many basic goods are surpassing those in the United States.

“It’s better that she has another family than go into prostitution, drugs or die of hunger,” the 43-year-old unemployed mother said, sitting outside her dilapidated home with her five-year-old son, father and unemployed husband.

Some poor Venezuelan parents give away children amid deep crisis | Reuters

Venezuela May Be Trump’s First Foreign Policy Flashpoint | Ramen IR

As a result, Venezuela’s collapse could have a notable impact on the US, albeit indirectly at first. While the two countries are separated by the Caribbean Sea, the problem remains that the Venezuelan crisis will largely affect countries in the Caribbean and Central America. Many of these countries receive large amounts of energy products from Venezuela at a discounted rate, with Caracas sending over US$50 billion in oil to these nations since 2005. Although the amounts have been decreasing, these energy subsidies make it easier for these local economies to operate. Venezuela’s implosion could lead to a cut in such provisions, causing economic upheaval in these already vulnerable countries, which could increase migration towards Mexico and the US, a dangerous path that many have already taken.

Venezuela May Be Trump’s First Foreign Policy Flashpoint | Ramen IR

Hungry Venezuelans Flee in Boats to Escape Economic Collapse – NYTimes.com

Venezuela was once one of Latin America’s richest countries, flush with oil wealth that attracted immigrants from places as varied as Europe and the Middle East.

But after President Hugo Chávez vowed to break the country’s economic elite and redistribute wealth to the poor, the rich and middle class fled to more welcoming countries in droves, creating what demographers describe as Venezuela’s first diaspora.

Now a second diaspora is underway — much less wealthy and not nearly as welcome.

Well over 150,000 Venezuelans have fled the country in the last year alone, the highest in more than a decade, according to scholars studying the exodus.

Hungry Venezuelans Flee in Boats to Escape Economic Collapse – NYTimes.com

Venezuela Crises Compound as Oil Industry Falls Into Disarray – The New York Times

One oil rig was idle for weeks because a single piece of equipment was missing. Another was attacked by armed gangs who made off with all they could carry. Many oil workers say they are paid so little that they barely eat and have to keep watch over one another in case they faint while high up on the rigs.

Venezuela’s petroleum industry, whose vast revenues once fueled the country’s Socialist-inspired revolution, underwriting everything from housing to education, is spiraling into disarray.

To add insult to injury, the Venezuelan government has been forced to turn to its nemesis, the United States, for help.

Venezuela Crises Compound as Oil Industry Falls Into Disarray – The New York Times

The Fall of Venezuela. Prepare Yourself Accordingly. – YouTube

Under the crippling weight of massive currency inflation, food shortages, power outages, increasing disease prevalence, a fall in oil prices, drought and political mismanagement – Venezuela has essentially become a failed state.

What did the late President Hugo Chávez and the United Socialist Party of Venezuela do to lead the country down this path? What has new President Nicolás Maduro done as he’s ruled the country by decree? Why aren’t you hearing more about the origin of these economic problems and what does this mean for neighboring countries?

There Will Be No Economic Recovery. Prepare Yourself Accordingly.

Sources: http://www.fdrurl.com/venezuela

The Fall of Venezuela. Prepare Yourself Accordingly. – YouTube

Venezuelan opposition tells military that it’s time to choose

The BBC reported Wednesday that opposition leader Henrique Capriles accused Maduro of “putting himself above the constitution” by imposing emergency powers on the oil-rich nation. “I tell the armed forces: The hour of truth is coming, to decide whether you are with the constitution or with Maduro,” Capriles said.

Venezuelan President Nicolas Maduro last week declared a national 60-day state of emergency that gives the military greater powers, ostensibly so it can deal with the country’s spiraling economic crisis. The National Assembly, which is led by Venezuela’s political opposition, on late Tuesday voted to reject Maduro’s decree.

Venezuelan opposition tells military that it’s time to choose

Venezuela is on the brink of a complete economic collapse – The Washington Post

The only question now is whether Venezuela’s government or economy will completely collapse first.

The key word there is “completely.” Both are well into their death throes. Indeed, Venezuela’s ruling party just lost congressional elections that gave the opposition a veto-proof majority, and it’s hard to see that getting any better for them any time soon — or ever. Incumbents, after all, don’t tend to do too well when, according to the International Monetary Fund, their economy shrinks 10 percent one year, an additional 6 percent the next, and inflation explodes to 720 percent. It’s no wonder, then, that markets expect Venezuela to default on its debt in the very near future. The country is basically bankrupt.

Venezuela is on the brink of a complete economic collapse – The Washington Post