Venezuela – Could It Get Any Worse (Yes)


I live in Colombia and of course we’re right next to Venezuela and there are lots of Venezuelans here. By a remarkable twist of fate, my girlfriend is Venezuelan too. So, I’m interested in what’s going on in Venezuela for multiple reasons. But ‘Yes’, Venezuela is really a mess right now. Butto  be honest, I wonder to what degree they might have brought it on themselves by putting all their eggs in one basket (i.e. oil) and simultaneously electing a socialist ignoramus like Maduro. Anyway….it is what it is and here are a few articles I’ve seen about it lately.
If nothing besides the banknotes change, the government of Nicolás Maduro might have to cut five more zeros in a matter of months, if not weeks.
It’s been a few months since I’ve traveled to Medellin– I have a number of investments and business interests in this region, and I like to check in on them from time to time. Plus, Medellin is a…
Socialist hellhole continues to be a warning to the world
Reaching for the faucet felt like a frustrating game of chance for Elizabeth Robles.
In recent weeks, the South American nation of Venezuela has been embroiled in a conflict that’s spilled onto the streets. As citizens become increasingly vocal in their protests and their attempts to effect social change, Venezuelan President Nicolás Maduro is staring down the barrel of a…
Black market vendors for food and medicines have been accepting cryptocurrencies for years in Venezuela, but more and more merchants are publicly identifying as crypto friendly to avoid the Venezuelan bolivar.
Venezuela is set to launch a new fiat currency pegged to its oil-backed cryptocurrency Petro next month, according to its leader Nicolas Maduro.
Venezuela’s president Nicolás Maduro announced that the country’s new national currency will be anchored to cryptocurrency Petro.
Amid the economic crisis in Venezuela, at least $1.2 billion was stolen from the state-owned oil and gas company with the help of an international network of professional money launderers, according to U.S. Department of Justice officials in Miami.
The IMF has drastically upped its inflation prediction, with people unable to afford food and medicine – even as Nicolás Maduro tightens his grip on power
Venezuela’s highly subsidized gasoline, cheaper than anywhere in the world, could be more expensive starting next month. Why? The smallest coin that will be available in the market will be enough to fill 100 SUV tanks.
Overcrowding, estimated at 250 percent, is spilling over from prisons to jails and simple police lock-ups and is exposing prisoners to disease, starvation and violence.
A cup of coffee in Venezuela now costs 2 million bolivars #tictocnews https://bloom.bg/2Lzl3th (Source: Bloomberg)
Be nice to people on the way up because you’ll meet them on the way down. Venezuelans learn the hard way.
Burro, or donkey, herds have nearly disappeared in one section of Venezuela as thousands were slaughtered for their meat by hungry Venezuelans suffering through a near-famine.
Venezuelan President Nicolas Maduro has refused to recognize the country’s hyperinflationary problem and has no plan to address it, a former finance minister, who served under the late socialist leader Hugo Chavez, said in an interview.

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