Keyword: venezuelacrisis

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  • Venezuelans use bitcoin 'mining' to escape inflation

    10/22/2017 9:32:58 AM PDT · by 2ndDivisionVet · 21 replies
    Yahoo! News ^ | October 21, 2017 | Alex Vasquez, Agence France-Presse
    Caracas (AFP) - Inside a locked room in an office building in Caracas, 20 humming computers use their data-crunching power to mine bitcoins, an increasingly popular tool in the fight against Venezuela's hyperinflation. In warehouses, offices and homes, miners are using modified computers to perform complex computations, essentially book-keeping for digital transactions worldwide, for which they earn a commission in bitcoins. While practiced worldwide, Bitcoin mining is part of a growing, underground effort in Venezuela to escape the worst effects of a crippling economic and political crisis and runaway inflation that the IMF says could reach 720 percent this year....
  • Goldman Sachs underwrites Venezuelan tyranny

    05/31/2017 12:48:28 PM PDT · by Sean_Anthony · 7 replies
    Canada Free Press ^ | 05/31/17 | Matthew Vadum
    Unconstitutional nature of Nicolas Maduro’s administration, its unwillingness to hold democratic elections and its systematic violation of human rights A key Venezuelan opposition leader is accusing Wall Street investment bank Goldman Sachs of “aiding and abetting the country’s dictatorial regime” by purchasing its government-issued bonds. The allegation, of course, is completely accurate and comes after two months of bloody unrest caused by the failing socialist economy presided over by President Nicolas Maduro. The amoral agenda-setting elitists of Goldman Sachs reportedly purchased $2.8 billion in Venezuelan debt. That apparently includes an $865 million transaction involving debt from state-run oil company PDVSA,...
  • American media hiding socialism’s devastation of Venezuela

    05/08/2017 3:28:56 PM PDT · by NYer · 46 replies
    American Thinker ^ | May 8, 2017 | Thomas Lifson
    The fate of Venezuela, which has the largest oil reserves in the world, ought to be the final lesson conclusively proving that socialism is a delusion that impoverishes those it purports to help.  An entire nation is starving, unable to feed itself, generate enough electricity, or produce toilet paper.  In the midst of boundless opportunity, its economy is grinding to a halt because of socialism. The fate of Venezuela, which has the largest oil reserves in the world, ought to be the final lesson conclusively proving that socialism is a delusion that impoverishes those it purports to help. An entire...
  • Venezuela Seizes GM, Warning Sign to U.S. Companies

    04/21/2017 9:42:03 AM PDT · by detective · 19 replies
    Yahoo News ^ | April 20, 2017 | Brittany De Lea
    U.S. multinationals with plants in Venezuela are likely on edge Thursday, after American automaker General Motors (NYSE:GM) pulled the plug on its operations in the poverty-stricken country, following a government takeover of its plant amid large-scale violent protests. “All foreign companies, and especially U.S. firms, should be concerned with the increasingly extreme and aggressive behavior of the Venezuelan regime,” Ian Vasquez, director of the Cato Institute's Center for Global Liberty and Prosperity, told FOX Business. American beverage company Coca-Cola (NYSE:KO), however, indicated to FOX Business Thursday it didn’t have any plans to pull its operations from the distressed South American...
  • Venezuela On The Brink – Images and Video

    04/21/2017 11:28:53 AM PDT · by detective · 111 replies
    Conservative Treehouse ^ | April 21, 2017 | Sundance
    The media is downplaying, and in most cases ignoring, the extreme nature of the crisis currently going on in socialist Venezuela under the Maduro regime.  Most of the cries for help are from people begging the international media to cover their plight. Some of the video and photography are stunning as millions of people take to the streets to protest a collapsing economy and food shortages while being met with tanks, guns and rogue militias hired by the government. Some of the targeted citizens appear chosen at random.  Some of the citizens are also desperate and fighting back. Warning –...
  • Venezuela's Maduro Wins Power Over Oil Despite Court Reversal

    04/03/2017 9:19:02 AM PDT · by C19fan · 4 replies
    Reuters ^ | April 2, 2017 | Alexandra Ulmer
    The Venezuelan Supreme Court may have amended part of its explosive decision to take over the opposition-led congress, but it still gives embattled leftist President Nicolas Maduro broad new powers over the OPEC nation's vast oil wealth. The reversal on Saturday came after political leaders worldwide and street protesters at home accused the pro-government court of effectively making Maduro a dictator.
  • Venezuelans Take to the Streets after Chavista Court Eliminates Congress’ Legislative Powers

    04/01/2017 7:59:45 AM PDT · by fella · 11 replies
    Panam Post ^ | 31 March 2017 | Sabrina Martin
    Venezuelans are blocking highways and taking to the streets in response to an apparent Coup d’Etat. Though Maduro’s regime arranged anti-riot measures in several Venezuelan cities, hundreds of Venezuelans turned out to express their opposition to the Supreme Court’s ruling that dissolved the powers of the country’s congress. Caracas, Los Teques, Vargas, Carabobo and Anzoátegui are just some of the states where protests are taking place. In Urbina, Caracas — a popular area that has traditionally been faithful to Chavez —  is now flooded with protesters. “No more dictatorship,” they are reportedly chanting. “We want freedom.” During the protests, members of the student movement were pushed back...
  • Venezuelans fight to protect their savings as government pulls bills from circulation

    12/14/2016 9:30:43 AM PST · by Tilted Irish Kilt · 32 replies
    fusion.net ^ | 12/13/2016
    CARACAS— Venezuelans are rushing to the banks this week in a desperate attempt to protect their savings from the government’s latest spasm of reckless financial policymaking. On Tuesday morning thousands of people across Venezuela played hooky from work to line-up outside banks and deposit bundles of cash into their savings accounts after the government gave everyone a 72-hour countdown to turn in all their 100 bolivar notes before they’re removed from circulation. “I’ve been saving for so long, withdrawing money every week and for what? Nothing!” complained José Orozco, who was holding a backpack full of money as he stood...
  • Venezuela shuts border with Colombia as cash crisis escalates

    12/13/2016 10:32:43 AM PST · by PJ-Comix · 19 replies
    CNN Money ^ | December 12, 2016 | Patrick Gillespie
    President Nicolas Maduro announced Monday night that he's closing the country's border with Colombia for 72 hours as Venezuelans rush to exchange bills before they become invalid later this week. He accused "mafias" of moving Venezuelan money into Colombia. It's the latest twist in a crisis that symbolizes Venezuela's severe economic depression, which is having a brutal impact on its citizens' lives. The Venezuelan government said in a statement that shutting the border with Colombia was necessary "to counteract the criminal attacks against our currency." Some Venezuelans are going to border towns in Colombia to exchange their currency, the bolivar,...
  • Venezuela’s crisis comes to a head in the streets

    10/31/2016 6:53:26 AM PDT · by Fhios · 4 replies
    ... The march, which follows opposition-led mass protests and a general strike last week, is slated to take place even as Vatican-mediated talks between the government and the opposition Democratic Unity coalition (MUD) began on Sunday. ...
  • A Showdown Looms in Venezuela as Maduro Tramples Democracy

    10/28/2016 9:11:46 AM PDT · by MtnClimber · 10 replies
    World Politics Review ^ | 27 Oct, 2016 | Frida Ghitis
    Venezuela’s embattled socialist government is steadily moving the country toward the abyss, and the escalating crisis is taking on increasingly ominous tones. Venezuelans are caught in a fast-spinning economic spiral that has already devastated living standards and created a large-scale humanitarian crisis. But as Venezuelans take to the streets, so far the government has responded with measures that exacerbate tensions and make a peaceful political solution increasingly difficult. President Nicolas Maduro, the heir to the late President Hugo Chavez, was elected by popular vote in 2013. But the Venezuelan system of government can no longer be called a democracy. The...
  • Venezuela Throws In The Towel On Hyperinflation: Will Print 200x Higher-Denominated Bills

    10/27/2016 2:28:25 PM PDT · by dynachrome · 65 replies
    Zero Hedge ^ | 10-27-16 | Tyler Durden
    Venezuela’s government, slammed by hyperinflation has finally thrown in the towel, and is planning to issue new bills in December with larger denominations—up to 200 times higher than the current biggest bill, according to people familiar with the plans. The move marks an implicit acknowledgment by the government that skyrocketing prices have slashed the value of the currency The new coins and notes will go up to 20,000 bolivars, according to people close to the central bank, the finance ministry, the country’s banks and bill suppliers. This would make the biggest note worth $15 on the black market. And since...
  • Venezuela Food Shortages Claim Lives of Malnourished Children

    09/14/2016 1:31:29 PM PDT · by grundle · 24 replies
    Panama Post ^ | August 26, 2016 | Sabrina Martín
    When 18-month-old Royer Machado died from malnutrition in Zulia, Venezuela, the authorities did not arrest his mother. The child had gone more than 72 hours without eating, but his mother lived in extreme poverty and couldn’t get the resources she needed; that was just the nature of Venezuela today. The boy’s mother told officers she ran out of money, and then out of food. The baby continued to cry, so she wrapped him in a rag, gave him water and rocked him to sleep. After several days, the crying stopped. He was no longer breathing. Officers interrogated the boy’s mother,...
  • Venezuela's "Death Spiral"

    09/14/2016 11:31:06 AM PDT · by detective · 32 replies
    Gatestone Institute ^ | Sep 14, 2016 | Susan Warner
    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." â—¾There 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. â—¾There...
  • Venezuela’s President Tells His Starving People: My ‘Diet Gets You Hard, You Don’t Need Viagra!’

    09/14/2016 7:46:36 AM PDT · by C19fan · 13 replies
    Breitbart ^ | September 13, 2016 | Frances Maretl
    During a broadcast this weekend promoting new socialist food distribution policies, Venezuelan president Nicolás Maduro jokingly referenced a popular nickname for the nation’s dire food shortages, telling a crowd, “Maduro’s diet gets you hard – no need for Viagra!”
  • Socialist Paradise Venezuela Isn’t Doing So Well

    05/16/2016 6:29:05 AM PDT · by MarvinStinson · 38 replies
    HotAir ^ | May 15, 2016 | Taylor Millard
    Things are not looking good at all for socialist paradise Venezuela. President Nicolas Maduro declared a state of emergency a couple days ago due to unrest and a shortage of supplies, including flour. It’s so bad, some U.S. officials told Reuters they don’t expect Maduro to stay in power that much longer. They said one “plausible” scenario would be that Maduro’s own party or powerful political figures would force him out and would not rule out the possibility of a military coup. Still, they said there was no evidence of any active plotting or that he had lost support from...
  • Dying Infants and No Medicine: Inside Venezuela’s Failing Hospitals

    05/15/2016 8:59:45 PM PDT · by Zakeet · 43 replies
    New York Times ^ | May 15, 2016 | Nicholas Casey
    BARCELONA, Venezuela - By morning, three newborns were already dead. The day had begun with the usual hazards: chronic shortages of antibiotics, intravenous solutions, even food. Then a blackout swept over the city, shutting down the respirators in the maternity ward. Doctors kept ailing infants alive by pumping air into their lungs by hand for hours. By nightfall, four more newborns had died. "The death of a baby is our daily bread," said Dr. Osleidy Camejo, a surgeon in the nation's capital, Caracas, referring to the toll from Venezuela’s collapsing hospitals. The economic crisis in this country has exploded...
  • Chinese bullet train in Venezuela stalls as alliance derails

    05/15/2016 3:39:09 PM PDT · by dynachrome · 21 replies
    AP ^ | 5-14-16 | JOSHUA GOODMAN
    It was once billed as a model of socialist fraternity: South America's first high-speed train, powered by Chinese technology, crisscrossing Venezuela to bring development to its backwater plains. Now all but abandoned, it has become a symbol of economic collapse — and a strategic relationship gone adrift. Where dozens of modern buildings once stood, cattle now graze on grass growing amid the rubble of the project's gutted and vandalized factory. A red arched sign in Chinese and Spanish is all that remains of what until 16 months ago was a bustling complex of 800 workers. That's when the project's Chinese...
  • [03/10/2016] Venezuela´s socialist president praises Bernie Sanders' 'revolutionary' message

    05/14/2016 7:09:45 PM PDT · by BenLurkin · 9 replies
    latino.foxnews.com ^ | 03/10/2016 | Franz Von Bergen
    ...praised the Vermont lawmaker and even empathized with his humble beginnings. “He is an emerging candidate with a renovating and revolutionary message,” Maduro told a crowd congregated in Caracas to commemorate the “Anti-Imperialism Day” — a holiday created last year to mark March 9 as the day President Obama declared Venezuela a national security threat. ... Meanwhile, during the Wednesday night debate Sanders was asked to comment on positive remarks he made in the past about Cuba’s Fidel Castro and Nicaragua’s Daniel Ortega, two close allies of Venezuela’s Chavismo. One of the hosts played a 1985 video in which Sanders...
  • Venezuela opposition slams 'desperate' Maduro state of emergency

    05/14/2016 6:34:23 PM PDT · by Impala64ssa · 12 replies
    Reuters ^ | 5/14/16 | Alexandra Ulmer and Corina Pons
    Venezuela's opposition on Saturday slammed a state of emergency decreed by President Nicolas Maduro and vowed to press home efforts to remove the leftist leader this year amid a grim economic crisis. Maduro on Friday night declared a 60-day state of emergency due to what he called plots from Venezuela and the United States to subvert him. He did not provide specifics. The measure shows Maduro is panicking as a push for a recall referendum against him gains traction with tired, frustrated Venezuelans, opposition leaders said during a protest in Caracas. "We're talking about a desperate president who is putting...