venezuela

deathsTrump bans US from buying oil backed Venezuelan Cryptocurrency

Trump issued an order on Monday prohibiting U.S. citizens from engaging in transactions using the oil-backed currency, called the Petro. He authorized Treasury Secretary Steven Mnuchin to issue any necessary regulations to enforce his order. Maduro created the currency to …

deathsMore expect Venezuela will collapse and have regime change within 12 months

The consensus view among the participants of the Emerging Markets Trade Association and Siobhan Morden, a managing director for Nomura Securities in New York, is that Venezuela’s leader Madura will be out within 12 months. Nextbigfuture published on March 4, …

deathsVenezuelan oil production might drop to 1.35 million barrels per day in 2018 or even 1 million

Barclays analysts predicts that Venezuela’s oil production will average 1.43 million barrels per day (mb/d) in 2018. This would be a decline of roughly 700,000 bpd from the 2017 average. In the second half of 2018, output averages just 1.35 …

deathsScientific basis for Venezuela’s increasing risk of a military coup

The mass desperation of the Venezuelan people coup is making military coup attempts in 2018 inevitable. Brian Wang at Nextbigfuture bases this prediction on Venezuela’s terrible economy, higher estimates of infant mortality, estimates of children starving to death and recent …

foodMaduro’s Venezuela could unravel quickly

Nextbigfuture wrote that Venzuela is unable to feed its people and that a military coup in 2018 seems inevitable. Venezuela’s leader Maduro is attempting to purge the military today. El Pais reports on the purge. Venezuelan dictator Nicolás Maduro began …

deathsVenezuela oil workers are dying of hunger – a military coup in 2018 seems inevitable

Starving Venezuelan oil workers are growing too weak for heavy labor. They are too fatigued to act quickly which leads to more fatal accidents. Crude oil makes up about 95% of Venezuela’s exports. The country has no other source of …

cryptocurrencyVenezuela making oil backed cryptocurrency as its economy implodes

Venezuela is creating its own “petrocurrency,” backed by reserves in oil, gas, gold and diamonds. It will enable Venezuela “to advance in monetary sovereignty, carry out its financial transactions to overcome the financial blockade,” Maduro said. The black market rate …

financeVenezuela defaulted but leaders seem willing to rule at all costs

Venezuela has defaulted on two of its US dollar-denominated sovereign bond issues. S&P says that it expects Venezuela to default on other bond payments. This comes as absolutely no surprise. A further $420m of bond payments are already overdue: unless …

economic impact12-17 years old Venezuelans work at Brothels to pay for food

The Guardian UK describes how a 16 year old began working at a brothel two years ago to pay for food. She earns 400,000 bolivares a month, around four times the minimum wage, but at a time of hyperinflation that …

economic impactCollapse of Venezuela government is a matter when and not if

The final collapse of the Venezuela government is a matter of when and not if. Also, the when will probably be in some number of months Juan Barreto at Foreign Policy magazine writes: Venezuela is not the first developed country …