Venezuela On The Verge Of Revolution As Hyperinflated Currency Crashes To New Record Low

Tyler Durden's picture

Venezuela, a country with only $10 billion left in reserves to run on, is in trouble. As the currency hyperinflates to new record lows against the dollar...

 

James Holbrooks points out that the people are starving. The government has gone full-on authoritarian, and now desperate human beings are dying in the streets. From an Associated Press report on Friday:

“Authorities in Venezuela say 12 people were killed overnight following looting and violence in the South American nation’s capital amid a spiraling political crisis.”

Continuing, the report further highlighted the gravity of the situation:

“Most of the deaths took place in El Valle, where opposition leaders say 13 people were hit with an electrical current while trying to loot a bakery protected by an electric fence.”

These are people without options, forced to turn to thievery to stay alive. And they died because of it.

On April 6, The Economist reported that over the past year, 74 percent of Venezuelans lost an average of 20 pounds. Venezuela, incidentally, has topped Bloomberg’s Economic Misery Index for the past three years.

The country began its slide downward into chaos with the election of President Nicolas Maduro, who immediately began implementing socialist programs and has since taken extreme measures to secure his position.

At the end of March, for instance, Maduro effectively shut down Venezuela’s congress — his primary political opposition — and gave those legislative duties to his puppet Supreme Court.

The latest news coming out of the South American nation — aside from the deaths of people trying to steal bread to live — is that General Motors, whose Venezuelan production facility was overtaken by local authorities, has now ceased all operations in the country.

To put that in perspective, consider that in 2016, only 3,000 vehicles were sold in Venezuela, a country of 30 million people.

The U.S. Southern Command has floated the idea of using the United States’ military to contain unrest in Venezuela, though historically American intervention in South America is both widely unpopular in the region and wildly unsuccessful.

As we look on at the continuing horrors in the Middle East and what seems, at the moment, to be the makings of World War III in Asia, let’s not lose sight of the fact that right now, the people of Venezuela are in pain.

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WTFRLY's picture

Shouldn't this title say engineered color revolution?

Croesus's picture

"The U.S. Southern Command has floated the idea of using the United States’ military to contain unrest in Venezuela"

CUTE. The US government is considering to send the military in, to force the police state on a bunch of unarmed, starving people...

Sounds just like the opening scenes in "The Running Man".

bamawatson's picture

everything costs an arm and a leg

Croesus's picture

It's nothing to joke about, imo.

That could be your family members starving in the streets.

MillionDollarButter's picture

"The U.S. Southern Command has floated the idea of using the United States’ military to contain unrest in Venezuela"

We are no longer sending our kids to fight in foreign wars...  we're just signing them up to pay for them and all the interest.  i.e. "humanitarian intervention"  where we send all kinds of supplies, receive all kinds of immigrants, just for the privilege of preventing life from teaching the Venezuelans about communism.

MagicHandPuppet's picture

Venezuela's failing is not Socialism's fault.  "They weren't doing it right." /sarc

VWAndy's picture

 Thats funny stuf right there.

AVmaster's picture

Women shouldn't be allowed to vote...

 

They always vote with their feeeeeeeeeeeeeeeeeeeeeeeeelllings and not logically, resulting in leftard cancer flourishing and shit getting fucked up...

 

Then end..

Creepy_Azz_Crackaah's picture

When is Bernie going there to tell them that they (the little, starving, people) are fuckups for not believing in their most excellent socialist system and... FREE $HIT FOR EVERYBODY(!!!) works.

Gyges's picture

Service should guarantee citizenship.

willy up the creek's picture

Absolutely true.  If you look at when the descent first began, it was not long after women got the right to vote.  With their feelings.  For the children.  They always vote significantly more left than men.

Anderson Coopers Gerbil's picture

I wonder what 1 oz of silver would buy. Pedesta could open up a pizza parlor

nmewn's picture

They are learning though.

They dumped the whole idea of having supreme-commie-leader-daddy wearing army fatigues or a generals uniform. Even idiot socialists could see that was getting pretty stale ;-)

Stuck on Zero's picture

Maduro must be getting really worried ... with only $10 billion left in the treasury there's not much left for his crime family to steal.

Lumberjack's picture

That said, I 'wonder' who will move in on all the 'deals' to be made....

http://www.haaretz.com/israel-news/.premium-1.768669

SixIsNinE's picture

ten billion?  he better get on the phone quick with Dicktator Erdoggy in Turkey for the blueprints on his ten billion castle fortress mansion

 

what?  it took years to build?  ooops, sorry Maduro - time to start thinking about helicopters and some very remote indigenous tribes who might take you in, if you bring some nice beads and seeds

 

 

MEFOBILLS's picture

Venezuala's problem is not managing their national currency properly.  

Most politicians are either stupid, bought and paid for, or ignorant on how money works.

Malaysia during the Asian currency crises used unorthodox methods, and basically told the IMF to take a hike.  Later the IMF had to admit that what Malaysia did actually worked, despite it being against IMF orthodoxy.  

Correlation is not causation.  Socialism does fail when you have an unproductive class of parasites demanding from the treasury.  If that the case in Venezuala - only then does the argument have any legs.  Stop pointing as saying socialism - it sounds stupid.

So, if you have a country where governing elites are retards, then as the saying goes - a fish rots from the head.  

The U.S. can also rot from the head.

Venezuala will need currency controls and basically follow template that Malaysia used.  Also, it is probably no accident that Malaysia came under attack by the Illuminist world government, as their state airlines were targeted.  So Venezuala has a choice:  Fight, Die, or submit.

http://www.larouchepub.com/other/2004/book_reviews/3132malaysia_v_imf.html

VWAndy's picture

 Fighting back is the only one of those three choices that could make a lick of difference. The good question is how to effectivly fight back.

in4mayshun's picture

This should be an international case study on why you never give up gun ownership.
Ever.

Proctologist's picture

The U.S. IS "rotting from the head".

There, fixed it for you.

Wish it weren't so.

Vilfredo Pareto's picture

Venezuela has had aggressive currency controls and a two tiered bolivar for years now.  It has brought industry to a halt.  Are you suggesting more control?  How could they control it any tighter than they do?

 

Far too late for even sophisticated currency control such as Iceland used temporarily.  Faith in the bolivar is gone.

MEFOBILLS's picture

Read the link.

Maylasia also did capital controls.  They made their currency non convertible in foreign exchanges.  Also, I believe there was a peg to the dollar.

Schacht brought back Germany from the hyperinflation.  It can be done, it just takes a level of intelligence and will Venezuala may not have... which gets back to my original point.

Antifaschistische's picture

ahhh, stop your whinning and keeping making your hundred million dollar interest payments to the Wall Street bankers...that's all that matters.

dark pools of soros's picture

Too many people rely on government. Downsize the population

True Blue's picture

If my family members were dumb enough to vote for Hugo Chavez or his successor Maduro -or any form of socialist 'free stuff' nonsense; then they'd get what was coming to them and no pity. I like how the article completely ignored Chavez and explicitly states that the problems began with Maduro.

Future Jim's picture

Venezuelans wanted socialism, and they got it - good and hard!

a false profit's picture

I agree.  Screw them... they wanted Chavez... and heralded him as the new mesiah (as did the Hollywood elite, as usual).  So, Chavez and Maduro created a slow-motion train wreck which was entirely predictable.  Reaping what they sowed...

Future Jim's picture

The socialists ran out of other people's money?! Who could have seen THAT coming?!

radio man's picture

I wonder how many asshats at Berkley could find Venezuela  on a map. 

tyrone's picture

Cannibalism...thats already going full on in the prisons.

MoreFreedom's picture

I say it's far better to stay out of Venezuela, and let Venezuelans fix their own country.  After all, they got what they voted for, good and hard.  Now perhaps, enough of them will have learned that you can't have the prosperity that comes with freedom, unless you are first willing to give it to others.  And instead of demanding that the government take from others for them, that they'll demand the government let a free market reign, and limit government to dealing with disputes among citizens.  

Consider if you're one of the political insiders who can go confiscate other people's property.  Wouldn't you be very afraid of the many starving people out there who are getting very desperate?  Who is the US going to side with if they invade?  Whoever that is, Venezuelan's won't like it.

The Ram's picture

It was my impression that Venezuela has been in a revolution for quite some time.  I would not think there is much to revolt against anymore.  Every man for himself unless he can extract himself from the shit hole.  Lots of shit holes in the world, and soon coming to a town near you.

AllBentOutOfShape's picture

Why does ZH keep promoting fake news when it comes to Venezuela?  This "revolution" is 100% engineered, and it's being engineered by the very same globalists that are hellbent on destroying countries that have foreign and economic policies that are independent from the western corporate/banking cartel.

in4mayshun's picture

Some reasonable proof please...

D Nyle's picture

Where's Sean Penn or Samual Jackson to save the Day

vealparm's picture

Probably on Geffen's yacht in the South Pacific or on "Pedo Island" with Bill Clinton and Jeff Epstein.

I am Jobe's picture

On April 6, The Economist reported that over the past year, 74 percent of Venezuelans lost an average of 20 pounds. Venezuela, incidentally, has topped Bloomberg’s Economic Misery Index for the past three years. 

 

 

Americans can stand to lose about 50 pounds. 

D Nyle's picture

We just send Micheal Moore. That would lower the Fat index in America by 25%

Future Jim's picture

The miracle of socialism!

HooRAY4rSIDE's picture

"On April 6, The Economist reported that over the past year, 74 percent of Venezuelans lost an average of 20 pounds."


 

In a precise inverse correlation ~ Janet Yellen has gained at least twice that much

StagStopa's picture

Damn right. Fat fucks everywhere. My fat coworkers getting knee surgeries, back trouble, feet hurting, etc.

 

No shit.  Your legs are holding up twice the mass they should be. 

They keep stuffing their faces with garbage, though. 

Roxi

hxc's picture

Ironic twist; fat pieces of shit get to survive a little longer as they starve.

Some kind of sick cosmic joke

AR15AU's picture

now who are the bankers who are preying on the people of venezuela by helping their dictator sell the national gold treasure to stay in power? might be interesting to find out. i'm sure the people of venezuela may want to know. 

Croesus's picture

Shit, the oil is where Venezuala has its wealth...

But WHO "owns" the oil?

Certainly not the people getting electrocuted by "high security bakery fencing", or the people in general.

Ghostmaker's picture

Duh State owns Duh OIL.

FoggyWorld's picture

And while there is much of it, it all needs expensive refining.