Venezuela's Maduro Averts Military Coup, Arrests Three Air Force Generals

Tyler Durden's picture


A day after Venezuela formally devalued its currency by way of the new and improved FX central planning system SICAD II, which sent the official value of the Bolivar 89% lower, the government desperately needed a distraction. It got just that when earlier today Socialist par excellence Nicolas Maduro announced that he had narrowly avoided a coup after he arrested three air force generals suspected of plotting an uprising against the leftist government.

The AFP reports:

Maduro told a meeting of South American foreign ministers that the three generals, who were not identified, had been in contact with the opposition and "were trying to rise up against the legitimately constituted government."


"This group that was captured has direct links with sectors of the opposition and they were saying that this week was the decisive week," Maduro said.


He said the generals had already been summoned before a court martial, adding that the plot was discovered because other officers had come forward to say they were being recruited.


The disclosure comes amid a broadening government crackdown against Maduro's opponents after weeks of street protests that have left at least 34 dead.


On Monday, National Assembly president Diosdado Cabello announced that a prominent opposition deputy, Maria Corina Machado, had lost her seat and parliamentary immunity, and could be arrested at any moment.


Last week, two opposition mayors were arrested, and another prominent opposition leader has been in jailed for a month, accused of inciting violence.

Ironically, while the entire international community was fuming over the "crackdown" on peaceful, if CIA-funded, Ukraine protesters nobody has anything at all to say about the daily beatings and/or murders of civilians protesting Maduro's cabinet. Why? Perhaps because while the west has already alienated Putin and his natural resources, the last thing it can afford is to tell another oil rich country, Venezuela, to take a hike.

As for the local population, it may need greater and more dazzling spectacles than this particular distraction if it is to avoid noticing that its currency just lost 90% of its official value overnight. At least the Caracas stock market continues to put even the US market bubble to shame. Finally, if the socialist paradise fails, one can always use stock certificates as toilet paper, single ply.

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Tue, 03/25/2014 - 15:30 | 4591340 V in PA
V in PA's picture

They have an Air Force?

Tue, 03/25/2014 - 15:32 | 4591349 The Most Intere...
The Most Interesting Frog in the World's picture

They did....

Tue, 03/25/2014 - 15:40 | 4591383 eatthebanksters
eatthebanksters's picture

Maduro will be dead in six months...he's to stupid to figure out he can't keep it all under control when the real shitstorm starts...

Tue, 03/25/2014 - 15:44 | 4591398 flacon
flacon's picture

I looked up the word "donkey" in the dictionary, and there it was, a full colour photo of Maduro wearing a sombrero. 

Tue, 03/25/2014 - 15:57 | 4591456 ParkAveFlasher
ParkAveFlasher's picture

I'm picturing a jackass too, with "CIA" branded across its rump.

Tue, 03/25/2014 - 15:58 | 4591462 Richard Chesler
Richard Chesler's picture

Hey Maduro, dig faster motherfucker.

Tue, 03/25/2014 - 16:06 | 4591483 DoChenRollingBearing
DoChenRollingBearing's picture

The HATE in Venzuela is increasing at perhaps an exponential rate.  Peru´s main newspaper (picture later) shows that 94% of Peruvians disapprove of Maduro´s policies.

Venezuela is in for a storm of cataclysmic proportions.  Our CIA does not even to be there to help provoke, better if they just stay out.  Venezuela, corrupt to the core, will take matters into its own hands, Maduro will not escape, unless he has his OWN Air Force General with a warmed up Gulfstream....

Maduro will be toast, or hung like Mussolini.

Tue, 03/25/2014 - 16:08 | 4591498 strannick
strannick's picture

Maduro narrowly avoided a coup. He says it as though that's a good thing.

Tue, 03/25/2014 - 17:01 | 4591702 kaiserhoff
kaiserhoff's picture

If an first, you don't succeed....

Tue, 03/25/2014 - 18:25 | 4591971 aVileRat
aVileRat's picture

The second delfation wave usually hits the hardest. If this falls out the same way as prior Latino populist revolutions, I am going to bet a second coup by 2016.

The bigger question is what does this mean for Ecuador, Argentina, Iran and Cuba. All states that have significant bolivar stockpiles and swaps for their own populism based on cheap “tar sand” bolivar crude.

This being said, Venezuela has all the potential to be a better Brazil someday. They also badly need a total overhaul of the entire country's fixed capital which is on par with the Ukraine and the 'stans for "sov. fixer upper". PVDSA and the municipal gov's have without ethics or foresight ran the entire countrys power, refining and transport grid back to 1940's level capacity.



Tue, 03/25/2014 - 19:03 | 4592116 Independent
Independent's picture

Question how the heck does an airforce complete a coup??  Do they park fighter jets in front of the parliment building?  Don't think they would work well against a tank in that case.

Tue, 03/25/2014 - 16:28 | 4591583 Aussie V
Aussie V's picture

Not according to this article.


The HATE you claim seems to be emanating from the 3% who own 90%

Tue, 03/25/2014 - 16:41 | 4591623 Big Corked Boots
Big Corked Boots's picture

Isn't that the only group that matters?

Tue, 03/25/2014 - 16:53 | 4591677 robilla
robilla's picture

Highly unlikely


Volcker, Greenspan, Bernanke and Yellen are all still alive. Why should this idiot be any different?

Especially if he bundled for Obama (I'm looking at you Corzine!)

Tue, 03/25/2014 - 17:15 | 4591751 ThroxxOfVron
ThroxxOfVron's picture

Maduro might have a cadre of new 'generals' with strangely russian sounding accents for spanish speakers in six months.  

Maduro might be trading oil for Gold or Rubles or Yuan in six months, too.

Things are moving quite rapidly now.  Expect asymetry.  Expect surprises

IMHO,asymetry -both in business and in warfare, and the judicious well timed exorcise of the element of surprise; are going to be dominant themes in the period we have just entered.

Tue, 03/25/2014 - 16:48 | 4591659 Joe Sixpack
Joe Sixpack's picture

"They have an Air Force?"


Yes, but the hot air baloon is grounded for lack of helium, plus Obama has hoarded all the hot air.

Tue, 03/25/2014 - 17:39 | 4591836 Calmyourself
Calmyourself's picture

Who is gonna fly the Cessna 172 now?  They used to take turns dropping grenades out of the windows on evil capitalists and toilet paper magnates, gonna be a real shitstorm coming there..

Tue, 03/25/2014 - 15:31 | 4591344 The Most Intere...
The Most Interesting Frog in the World's picture

Somebody please blow that fuckers head off...

Tue, 03/25/2014 - 15:34 | 4591353 McMolotov
McMolotov's picture

It's practically a rule that mustache + bushy eyebrows = South American dictator. I'd hate to see the pit hair on Lady Cristina.

Tue, 03/25/2014 - 15:51 | 4591438 SilverIsKing
Tue, 03/25/2014 - 18:47 | 4592052 Kirk2NCC1701
Kirk2NCC1701's picture

I, on the other hand, would love to.  And see what I can do about it. ;-)

-Kirk in, Kirk out

Tue, 03/25/2014 - 15:34 | 4591356 sudzee
sudzee's picture

Moduro needs to hang on till Russian bases are up and running in Argentina.

Tue, 03/25/2014 - 17:59 | 4591885 lakecity55
lakecity55's picture

"Vlad! I'm glad you are here!"
"Just in time, Maduro. Bath House is getting the best of you. Bath House!!"
"Si, el maricone. (head down) I know, but, but, (looks up) show me how to do The Crimean!"
"It has some difficult steps!"
"I am ready, Vlad!"
"Well, then. "!Musica!!"

Tue, 03/25/2014 - 15:37 | 4591368 ebworthen
ebworthen's picture

"Phew!  That was close."

I imagine he is going to have to arrest more than three Generals what with devaluing the currency 89%.

Tue, 03/25/2014 - 15:38 | 4591369 Yen Cross
Yen Cross's picture

     Being a General in general, seems to carry more risk these days. Zero fires them, they defect from Ukraine, and Venezuela arrests them...Generals clearly need a boost in hazardous duty pay.    /sarc

Tue, 03/25/2014 - 15:39 | 4591371 pashley1411
pashley1411's picture

I dunno, throwing Air Force generals to a pack of hungry jaguars, hmm, might have some legs.   

For the Romans, what did they say, "if you don't have enough bread, how about a circus?"   worked for them for hundreds of years.

Tue, 03/25/2014 - 15:42 | 4591379 NoDebt
NoDebt's picture

I liked Juan Valdez better when he grew coffee and walked around with his faithful burro hauling the beans to market for him.  This "sociopathic murderous dictator" phase is a distrurbing turn in his life.

Tue, 03/25/2014 - 15:41 | 4591386 LFMayor
LFMayor's picture

"I know you are pinche CIA..."

Tue, 03/25/2014 - 15:42 | 4591390 Tursas
Tursas's picture

This Maduro appears a smart guy!

90% devaluation is OK like the Russian 10-20% devaluation.  The ordinary people see no change in domestic prices  like food and clothing - while all imported stuff is getting more expensive.   

Anything produced in these countries is now competitive outside the borders.  Of course Oil/ Gas are still sold at market pricess - means US$.  With all this both countries are perfectly positioned for the future!

Tue, 03/25/2014 - 16:04 | 4591484 youngman
youngman's picture

They dont produce much anymore as Chavez has taken over most of the production and ran it into the ground....they cant even keep their oil exploration going....he put his buddies in charge and all they knew how to do was steal...its a long slow death..but coming soon I with the devaluation nothing will be starvation is soon to come...

Tue, 03/25/2014 - 16:18 | 4591542 DoChenRollingBearing
DoChenRollingBearing's picture

Yeah, my guess is that you are right.  It will be of Biblical proportions down there (and I don´t mean Heaven).

Tue, 03/25/2014 - 17:25 | 4591785 machineh
machineh's picture

The 90% devaluation is only for the Sicad II exchange rate, a minor portion of Venezuela's external trade.

A large portion of the nation's trade is still at the official rate of 6.2 bolivars per dollar, or about 10 to 15 times overvalued.

Maduro has promised (for unfathomable reasons) to defend this absurd exchange rate to the death, and may well get his wish.

Tue, 03/25/2014 - 15:44 | 4591402 lasvegaspersona
lasvegaspersona's picture

Why doesn't he just spy on them, get some dirt on them and use works great here in the USA.

Tue, 03/25/2014 - 15:45 | 4591405 Seize Mars
Seize Mars's picture

He "fired" three air force generals? Did he replace them with dual citizens? Wait, are we talking about Maduro or Obama?

Tue, 03/25/2014 - 17:45 | 4591865 lakecity55
lakecity55's picture

Maybe it's the same guy!

They just swap a mustache on/off.

Tue, 03/25/2014 - 15:46 | 4591417 Bill of Rights
Bill of Rights's picture

Someone stuff a corn dog in his mouth...

Tue, 03/25/2014 - 16:47 | 4591658 gcjohns1971
gcjohns1971's picture

How about a .45 instead?

Tue, 03/25/2014 - 22:28 | 4592675 StychoKiller
Tue, 03/25/2014 - 15:59 | 4591466 fiftybagger
fiftybagger's picture

Other people's money has officially run out :-)

Tue, 03/25/2014 - 16:02 | 4591474 Perfecthedge
Perfecthedge's picture

They killed a beauty pageant and THAT is unforgivable.  Do you know how many really pretty woman are out there? And they had to kill one in f****** Venezuela.

Tue, 03/25/2014 - 17:44 | 4591853 lakecity55
lakecity55's picture

How do you kill a beauty pageant?

Cut off the power? Renig on their hotel accommodations?

Tue, 03/25/2014 - 16:16 | 4591523 Emergency Ward
Emergency Ward's picture

South American generals conspiring to overthrow the government?  No way, José.

Tue, 03/25/2014 - 17:17 | 4591762 calltoaccount
calltoaccount's picture

I've followed and supported ZH for many years, shaking my head when disbelievers had the temerity to suggest that ZH was an undercover supporter of tptb, the status quo, and the deep state, until now--

This piece on Venezuela is pure crap, snidely condemning the democratically elected Pres & gov. while lauding the CIA backed crony capitalist predator plutocrats who have been trying seize power by overthrowing the democratically elected government since Chavez first came to power.

Earlier this month 29 Organization of American States countries including Brazil, Argentina, Ecuador, Bolivia, Uruguay, El Salvador and Nicaragua  emphatically rejected Washington’s depiction of the recent events in Venezuela as a government trying to “repress peaceful protesters” and passed a resolution expressing their solidarity with the government of President  Maduro,

For the truth of what's going on in Venezuela (if anyone here really cares) try:


also see:

Tue, 03/25/2014 - 17:28 | 4591792 NidStyles
NidStyles's picture

Except the protests were real....

Tue, 03/25/2014 - 17:35 | 4591815 BlindMonkey
BlindMonkey's picture

And almost certainly funded by your tax dollars.

Tue, 03/25/2014 - 17:42 | 4591850 lakecity55
lakecity55's picture

I don't think we have to fund demonstrators if there is no toilet paper.

Now, if the CIA had stolen all the TP going to their country, or blew up their TP factory, you have a point.

The current government is incompetent enough w/o foreign spies.

The spooks are whoring and drinking, sending reports back to HQ that "oh, yeah, we ah blew up their TP factory. Send moar money!"

Wed, 03/26/2014 - 00:06 | 4592836 BlindMonkey
BlindMonkey's picture

Revolutions take money. Street protests take money. If you see a million people in the streets there were a battalion on community organizers organizing times, names and places. That takes money. Ockham's razor, follow the money or whatever you want to call it there is almost certainly a little man in a trench coat traveling on max per diem with buckets of cash.

Tue, 03/25/2014 - 17:47 | 4591866 Dickweed Wang
Dickweed Wang's picture

Except the protests were real....

And the protestors are the ones committing the violence - not the Venezuelan government.  The "protestors" have shot citizens while they are trying to clear road blocks of debris, decapitated a guy on a motorcycle by stringing up a wire across the street, etc.

Reading the article and most of the comments posted so far makes me think the CIA and NGO's have the pedal to the metal on this issue and that, as usual, the gullible and naive believe everything that is regurgitated by CNN, FOX and the rest of the MSM from "government sources". . . . .

Tue, 03/25/2014 - 17:32 | 4591807 machineh
machineh's picture

The CIA can't make Maduro arrest elected opposition lawmakers, or run a dysfunctional parallel exchange rate scheme, or create 57% inflation.

What Maduro is doing is dictatorial, quite aside from any external meddling.

But plenty of leftists who know absolutely nothing about LatAm are inclined to reflexively defend Maduro, simply because he's an alleged populist.

Redistribution doesn't work when you impoverish a country to the point that there's nothing left to redistribute. Dire shortages of staples are all on price-controlled items.

Econ 101 ... how many times you gonna flunk it, son?


Tue, 03/25/2014 - 17:32 | 4591808 BlindMonkey
BlindMonkey's picture

I read the articles and it seemed that the vote was almost as much of a slap at the US constant, worldwide meddling than specifically supporting Maduro. I can respect that. I am also about sick and tired of fascist/corporatist being referred to as right-wing. They are close kissing cousins of communists/socialists.

Can we vote to stay the hell out of everywhere? FFS the US walks around the globe like Buford T Justice on mescaline.

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