Venezuela's 'Goldman Bounce' In Reserves Is Gone

Tyler Durden's picture

The boost in foreign reserves Venezuela enjoyed after Goldman Sachs investment arm picked up $2.8 billion of bonds from the state oil company is almost gone.

"We're gonna need another boost..." - time for some more Goldman 'swaps'?

As Bloomberg notes, the country’s cash hoard has fallen $326 million this week to $10.2 billion, near the 15-year low reached last month before the windfall.

Investors follow the level intently, trying to gauge how much time Venezuela has left before its dollar shortage results in a default.

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silverer's picture

Charts and graphs are just fine for investors tracking dollars and liabilities. The sad part is no graph exists or could really represent the social destruction and human suffering. I guess all that matters is the money.

nmewn's picture

Yes, indeed.

But perhaps the brats & cronies of Chavez could be prevailed upon to give some of those stolen monies & estates back to the suffering people. 

I doubt it will happen tho.

Rehab Willie's picture

IMF is holding out for a violent coup before offering terms of surrender.

HRH Feant2's picture

It is possible. Have any bank controls been placed on Venezuela? I have heard that Chavez's daughter is worth $4 billion USD and lives in Miami? Is that true? Did she earn that money? Jeezus H. Christ if I go to the local fucking bank and ask for $10K of my own fucking money they have to submit documentation to verify that it wasn't fraud! What about the fraud that people like her bring with them when they are allowed to live here, free and clear, with stolen money? Have her assets been seized? Why the fuck not? The USSA seems to have no fucking problem with civil forfeiture when it comes to seizing the assets of citizens.

HRH Feant2's picture

Kiss kiss! Thank you for proving my point. Spot on!

Blue Balls's picture

The Chavez kid has $4 billion.

AVmaster's picture



That was quick...



Richard Chesler's picture

You have to admire the speed at which socialist thugs can steal.

shovelhead's picture

Babysitting pays pretty good down there.

Endgame Napoleon's picture

All the Venezuelan Establishment Elite would have to do is to create businesses to employ people in their own country, with a huge chunk of the profit going to them and their families--just not 99% of the profit through government domination.

The bigwigs in these underdeveloped countries -- along with their developed-country counterparts -- prefer to hoard by betting on global slave labor, with the government rigging the system to favor them and loudly throwing cake to some of "the poor," namely so-called "working families" in this country.

Here, the distraction from what they are doing is the ever-greater rigging of the bottom, the virtue-signaling throwing of cake to single moms and immigrants who have one traceable household income, kids, layers of welfare & taxfare and low-wage jobs, working the welfare reform-required 20 hours per week and driving wages down in the dirt even further for everyone else, including unprecedented numbers of unemployed, underemployed and imprisoned men. We are not that far from a super-unfair, controlled economy ourselves, with all of the chaos and unrest that it involves.

thevekja's picture

Perfectly said, welcome to global serfdom

MoreFreedom's picture

What the chart says, is that Venezuela has about 30 months before it runs out of money.  The generals know they won't have the loyalty of their troops if their families are starving, so expect Maduro to fall by then.  Paying off the generals won't be enough. 

What does Maduro have left to sell to raise cash?  There isn't much in Venezuela anyone wants except their oil, and the government oil monopoly loses money.  That's how well socialism works.   It remains to be seen if the generals will renege on Venezuelan debts after Maduro falls. I'd guess it depends on how socialist they are.  If they renege on the debts, they will find it hard to borrow money, but if they run the country, they may not care since they'll live high on the hog just like Maduro, for awhile anyway. 

Endgame Napoleon's picture

Why don't they privatize the oil fields? Government-crony ownership of their natural resources did not work for the vast majority of the people in their country.

Kokito's picture

This ragtag PoS and right-wing (fascist & neo-Nazi) website can not hide their exaggerated hate towards the socialist system of the Chavistas in Venezuela. ZeroShi is always coming out with articles, statistics, charts & graph, all FakeNews, predicting the complete collapse of the political & economic system in Venezuela but their predictions have always been proven wrong time & time again.     If you really want to find out economic outlook of the Venezuelan’s economy read these 2 article from RT: Google “¿Qué significa el ingreso de Venezuela al Banco Asiático de Infraestructura?” “Venezuela emprenderá el proyecto minero más ambicioso de su historia”


Tyler Durden, you are a dumb MF & a stupid shit (who ever you are). Go fuck yourself.

stacking12321's picture

no, actually, it's you that are the stupid piece of shit.

zh is indeed a bit right-leaning, but it really isn't neo nazi, even if some of the commenters on the site are.

and it's as clear as day that venezuela is indeed on the path of self-destruction and collapse.

to suggest that because it hasn't happened yet, it will never happen, or that the predictions of venezuelan collapse have been "proven wrong", is pure stupidity and wishful thinking.

i don't wish any ill will on the venezuelan people, but they are ruled by truly evil monsters who are more amenable to reducing the country to a smoldering pile of rubble rather than give up power.

oh, just one other thing: if you're going to refer to an article in your comment, post a link!

don't be a lazy fucker and tell people to google it.

HRH Feant2's picture

Thanks to Zerohedge for posting real news. There is little-to-nothing about Venezuela in the US MSM. Sadly the US MSM thinks that Russia is a huge issue. Fucking clueless idiots that need to leave NYC and DC. Get out into the world. No one but them are so obsessed with such a small part of the world. Fuck, do they even realize that people have access to the Internet and want real, live news from around the world? How much time can they waste on bullshit about NYC and DC? People in the USSA are STARVING for realtime news.

Endgame Napoleon's picture

Some of us want more REAL news on the economic situation in the USA, not propaganda that tilts the numbers to bolster one or the other side, although ZHedge provides much more of that, countering the FakeNews by going against the underreporting of citizens out-of-the-workforce and UNDERemployed citizens, along with warning American citizens with money to protect about the perils in the investment scene. I think they do a great job of giving both sides of that economic equation: the Deplorable misery index and the danger for Elites in markets that are inflated or distorted.

Most of us Deplorables are interested in understanding more about the rest of the world, but not with a focus on what US leaders can do for the citizens of other countries to avoid dealing with their own voters' problems. We are just interested out of curiosity and concern for allies. When France, the country that gave us the Statue of Liberty, decides to commit suicide by electing leaders who represent the interests of globalism, not the French, Deplorables are interested to know what the f*** motivates this behavior.

The situation in Venezuela is very sad. But when an underdeveloped country is the issue, Deplorable-minded ZHedgers sometimes just see Elites, trying to think of a way to capitalize on offshoring, outsourcing or other opportunities that enable Elites to benefit from the conditions in those underdeveloped countries. Elites see a de-stabilized country as a way to go in and make a massive pile of bucks, as opposed to investing in creating jobs in their own UNDERemployed, developed-for-now country that would still result in a ton of bucks for Elites, but maybe not fortunes the size of the budgets of whole countries.

True Contrarian's picture

He's going into shock Doctor, defib?

No, afraid he's not covered for that.

Call the morgue?


Too-Big-to-Bail's picture

This is where Goldman starts having 'insurgents' from Venezuala sent up to New York to work as slaves in exchange for the debt Venezuala can no longer pay. Only you can't call them slaves, so need to be euphemistically termed "increased employment numbers for Q2 2017"

The Binary Man's picture

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Boobsalot's picture

You have to wonder how Israel may be playing the events in Venezuela, directly or indirectly.

Too-Big-to-Bail's picture

Everyone has been conditioned to know that we all have to pay our jews

Cordeezy's picture

In the event of a default what will the consequences be?  What could they possibly do Venezuela is already terrible.


shovelhead's picture

Meet Yuri, the new owner of your local Citgo station.

jmack's picture

Have you ever been to a citgo station? many times have I wondered, what cursed soul owns such an enterprise?  What evil did they wreak to deserve such a fate? Now I know, indeed, now I know.

montresor's picture

Surely the people of Venezuela will see to their own futures? They already hunt down their local burglars & scumbags and set them on fire with gasoline.. So they're good people right? They're down but not out.. Hang in there Venezuela..

SmittyinLA's picture

GS will just pay them to go steal more property for a few MOAR years

Ted Cruz and wife are such a scumbag criminal looters

marcel tjoeng's picture

"The boost in foreign reserves Venezuela enjoyed after Goldman Sachs investment arm picked up $2.8 billion of bonds from the state oil company is almost gone.

"We're gonna need another boost..." - time for some more Goldman 'swaps'?"


Hong Kong solved this equation in 1997 ..

So who is the idiot exactly .. ?