Venezuelans loot to eat amid economic tailspin

[brooklynite]

Source: AP

PUERTO CABELLO, Venezuela (AP) — The cab of Carlos Del Pino’s big rig gave him a nerve-rattling front-row seat to a surge in mob attacks on Venezuela’s neighborhood markets, cattle ranches and food delivery trucks like his.

Shortly after pulling away from the docks at Puerto Cabello, the country’s biggest port, he witnessed 20 people swarm a truck ahead of him and in a frenzy fill up their sacks with the corn it was carrying to a food-processing plant. The driver was held at gunpoint.

...snip...

He has hauled cargo for 14 years, and on a good month earns the equivalent of about $100, enough to support his wife and two daughters. Yet, despite his fears, he sympathizes with his impoverished countrymen, who are becoming desperate amid Venezuela’s widespread food shortages and sky-high inflation.

“They have to loot to eat,” he said.

Read more: https://apnews.com/e6af78e0506748d490a646dfb115772e/Venezuelans-'loot-to-eat'-amid-economic-tailspin

[hack89]

1. It is ugly watching a country die.

hard to see how they will recover without a lot of pain and violence.

[Adrahil]

2. I wonder is Sean Penn still wants to hug Maduro? NT

[Fred Sanders]

3. US $100 a month. But not paid in $. Not buying in US$. Always a sure sign of propaganda.

Paid in local currency the wage is enough to feed a family of four.

Good reference point.

[EX500rider]

22. "US $100 a month. But not paid in $. Not buying in US$. Always a sure sign of propaganda."

Actually a sign of if they posted the amount in Bolivars no one would have any idea what he makes in a english publication.

[angrychair]

4. Americans loot to eat amid economic tailspin

“As Donald Trump’s regime entires its 7th year, Americans grow desperate to eat and our education system completely collapses as more kids are out of school than in school for the first in modern times.”

Dystopian future not far from reality in my opinion...

[brooklynite]

6. During the Great Depression, 80% of working Americans still had jobs

Nothing the US is facing is close to the economic collapse of Venezuela.

[angrychair]

9. Its an analogy and 7 years in the future

It’s called an analogy, it’s a dystopian future under trump...trust me it’s not that far fetched...

[brooklynite]

11. It's called fiction.

On August 10, 2011 (during the Obama Administration), the market dropped 520; did you lament our dystopian future then?

[angrychair]

15. Ok...thats what an analogy is...

Not sure I get the point you’re trying to make here...

Logic.a form of reasoning in which one thing is inferred to be similar to another thing in a certain respect, on the basis of the known similarity between the things in other respects.

Gross mismanagement of government and bigger than life egos as well as huge income disparities in income classes are things that exist today that are similar between the two and given the current attitude and bent of the trump administration, I have little doubt they would love to create a totalitarian regime and unquestionably rule of the US to shapeit how they see fit.

I’ve seen some weird stuff here but I’ve never seen a post criticizing a comparative analogy about how trump’s continued leadership will likely run the country into the ground in a not so dissimilar fashion to a collapsing economy where the wealthy are ultra-wealthy while the poor are having to steal to eat.

[hack89]

7. Our economy is growing. Theirs is collapsing

there is no comparison.

[angrychair]

10. Its an analogy

It’s called an analogy, it’s a dystopian future under trump...trust me it’s not that far fetched...

[hack89]

13. No - it is very far fetched.

it took a special brand of incompetence to first mismanage and then destroy the Venezuelan economy. The present mess is 20 years in the making.

[angrychair]

19. So you think

A dystopian future of a totalitarian regime under trump is definitely a path to financial and social ruin for our country and a one-party, one-leader rule, is obviously something that there is little doubt that trump would happily embrace if he could figure out how.

Never seen so much pushback to something that is, at its foundation, intended to be a dig at trump and republicans.

[hack89]

20. Trump is not going to turn America into Venezuela

For one thing, the president cannot dominate the economy like Maduro and Chavez could.

And no - Trump is not going to turn America into a single party totalitarian country.

[angrychair]

21. While I agree is a difficult prospect

But nationalizing/reshaping of industries was once thought impossible in alot of countries before it actually happened.
If you don’t realize that trump has been changing the economy, you haven’t been paying attention: America First and trade tariffs and pulling out and/or renegotiating trade pacts and slashing regulations are all intended to reshape the entire US economy on a grand scale.

Just as one example, the changes intended with NAFTA could reshape our economy and that of Mexico as well as Asia and the EU.
Mexico and Canada are our largest trading partners, with Mexico being the largest recipient of US wheat and corn in the world. Because of trump’s complete mismanagement of NAFTA, they are now looking toward Asia, South America and EU for these staples and better trade deals. What do you think will happen if our largest trading partner for wheat and corn slashes their orders by by even half it’s past amount? It would likely be devastating to the central US and crush independent farmers, potentially creating supply issues in the US as farms go bankrupt.
I could give examples on oil, electronics and durable goods (washing machines ring a bell) but the point is that he is setting up massive changes in our economy in a very chaotic and poorly conceived manner that could have impacts very reminiscent of the current situation in Venezuela.

[hack89]

24. He is not going to funtamentally change the American economy

it is too big with too many powerful interests that would oppose him.

[pbmus]

29. He and repukes just did change our economy, and in a Bigly way...

It is called the Big Con Tax Cut...

[hack89]

37. Ok. Nt

[pbmus]

34. We better all pray, meditate and hope that China wants to keep

Investing in our treasuries and not selling them............or else!!!!!!!!!!!!!!!!

[hack89]

38. They don't have many other options

Their economy is much more fragile than ours.

[pbmus]

39. They are very close to looking like Saudi Arabia in their corruption hunt..

Some days I agree with your fragile thought and then other days I am huddled in a corner waiting for the other shoe to drop... and even though we have a great friend in their leader...he seems to be more isolated in daily decisions , and that makes me very paranoid.

PS, The USA is still looked at by other countries as being fat, lazy, and overpaid...and there is public pressure to do something about that in other countries...

[pbmus]

35. If the tyrant is allowed to stay past this year, our system of governance

Is literally up for grabs...

[IronLionZion]

5. Meanwhile, "State Department says sanctions against Venezuela are absolutely working"

The United States’ use of sanctions to punish Venezuelan officials and strangle the economy is “absolutely working” and will remain a prime strategy for trying to force democratic change in the South American country, senior U.S. State Department officials said Monday.

Speaking to reporters about the Latin America trip of U.S. Secretary of State Rex Tillerson that starts Thursday, the officials said they are beginning to see results of the plan, which has slapped sanctions on more than 50 current and former officials and bars U.S. financial institutions from dealing with Venezuelan debt.

“The financial sanctions that we have placed on the Venezuelan government [have] forced it to begin to default” on its sovereign debts, one official said on background. “And what we are seeing, because of the bad choices of the [President Nicolás] Maduro regime, is the total economic collapse in Venezuela.”

The official said the fact that Canada, the European Union and several Latin American nations have either implemented sanctions or are exerting pressure on Maduro are signs that Washington’s tack is the right one.

“Our strategy on Venezuela is extremely effective,” he said.

Meanwhile Freeptards smugly proclaim that country is collapsing because of socialism and not because of high oil prices and sanctions.

[hack89]

8. The sanctions are kind of a moot point

Venezuela has been so volatile and their economy in tatters for so long that they had been shut out of international debt markets well before Trump's sanctions. It would be crazy for anyone to lend them money.

[IronLionZion]

12. We're watching the complete collapse of a country

I don't see any path out for them.

[hack89]

14. Neither do I unfortunately

it will undoubtedly end in civil war or revolution which would be very unpredictable.

[Farmer-Rick]

16. And the US funds anti-government opposition in Venezuela much like they did with Chile.

So, with capitalists all in a tissy because you know...socialism, with the US paying people to disrupt the government and imposing sanctions, I'm surprised anything works in Venezuela anymore.

[COLGATE4]

27. Yep. It's all the US's fault. The Venezuelan economy was

blossoming like a Spring flower until the CIA (along with the Illuminati, the Rosacrucians, the Masons and the Bilderberg Group) all got together with Alvaro Uribe and made the 'Bolivarian revolution' fall apart like a cheap suit. Once those capitalists get in a "tissy" watch out.

[Fred Sanders]

33. The article makes clear the intent is to collapse the Venezuelan economy. Who would suffer first?

Starve the people, foment a coup and install a puppet regime...seen that play before.

Cheerleading those that want economic collapse that hurts the poor first and then claiming concern for very same poor is...interesting.

[pbmus]

36. Will not be interesting when it happens here...more like civil war

Except it won’t be civil...

[christx30]

17. Venezuela doesn't have much of any industry besides

oil. High oil prices are very good for them. That's why the Sheiks in the Mid-East are riding high on the hog for the past 40+ years. But the prices didn't last. They gave away so much of their oil to Cuba and other countries and their own people got prices the market couldn't support. They threw away their money, overspent while the years were good. Then the US started producing oil here through fracking. The oil market tanked, and we were paying $2 per gallon instead of $4.50, and suddenly their one industry became worth a lot less. Venezuela liked to take property from people and businesses, stopped paying their bills. So no one wants to bring property into the country. Can't get a loan, because the international banks like to be paid back.

[IronLionZion]

18. Indeed, they are a founding member of OPEC because they have expensive oil

and need high oil prices to make a profit. I meant to write that low oil prices (not high) screwed over Venezuela more than any other country.

[EX500rider]

23. "that country is collapsing because of socialism and not because of high oil prices and sanctions"

It's economy is collapsing due to incompetent government interference, not oil prices or sanctions.

Fire competent oil industry workers/managers and replace with incompetent loyalists...check (oil production down by almost half)


Seize foreign and domestic industries, killing foreign investment and run industries into the ground...check

Institute price controls during hyper-inflation, guaranteeing empty shelves since you can't sell under cost for long...check

Institute insane monetary exchanges rates drying up dollars needed to buy exports...check

Give away gas at $.38 a gallon, guaranteeing a black market of gas exports to surrounding countries....check

Jail opposition leaders on trumped up charges....check

Stack Supreme court with loyalists to rubber stamp laws...check

Lose Parliamentary elections: Maduro approves an unconstitutional economic emergency decree, relegating to his own figure the legislative and executive powers, while also holding judiciary power through the fraudulent designation of judges the day after the election....check

Should I go on?

[IronLionZion]

25. Some of those things are happening here in the US

which is the scariest part.

[EX500rider]

26. Like? For example?

[IronLionZion]

28. Trump is following in Maduro's example

incompetent government interference...check
Fire competent oil industry workers/managers and replace with incompetent loyalists...check
killing foreign investment and run industries into the ground...check
Jail opposition leaders on trumped up charges....check
Stack Supreme court with loyalists to rubber stamp laws...check
Lose congressional elections: Trump will approve an unconstitutional economic emergency decree, relegating to his own figure the legislative and executive powers, while also holding judiciary power through the fraudulent designation of judges the day after the election....check

[pbmus]

30. YES. +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Try to Destroy justice and rule of law...check
Try to Destroy honest media...check
Destroy morality....check
And on and on....

We are in a constitutional crisis...!!!!!!!!!!!!

[EX500rider]

31. Except none of those things have happened?

The US oil industry is not nationalized so Trump has picked/fired nobody there.
Jailed opposition leaders? Who?
Ran what industries into the ground?
Trump bypassed Congress and made up his own like Maduro did?? Not..

[pbmus]

32. You are not thinking globally...the USA oil industry is internationalized...

Many leaders from other countries have been murdered and jailed over oil....

Solar and wind are two that I can think of that he is trying very hard to kill...

The Big Con has conned you...

Exxon/Rosneft/Blackstone/Trump


After a few hours of web surfing & note taking, I was able to identify a variety of investments/investors who stand to benefit from the lifting of the existing sanctions on Russia -- but also stand to lose if the sanctions are not lifted in a timely manner....

(I also found the trail between the 19.5% and Trump's Blackstone buddies...


The Exxon component is far greater than just the highly publicized $1billion loss from the Arctic Drilling project that was halted due to the sanctions .....

Timeline/Players:
1998 Tillerson was head of Exxon's
Neftgas Ltd
Neftgas + Rosneft = Sakhalin-1 (Siberian coast)

2006
Tillerson CEO/Pres. Exxon
& Sechin takes over Rosneft

2011
Rosneft + Exxon = Strategic Cooperation Agreement
Explore/Exploit Arctic & Black Sea
* Rosneft subsidiary gets 30% equity in Exxon's La Escalera Ranch project in W.Texas
* Rosneft gets rights to acquire 30% of Exxon Holdings (20 blocks) in Gulf of Mexico
* Rosneft subsidiary RNCardium oil acquires 30% of Exxon's stake in Canada -- Cardium formation to develop tar sands reserve


2012 Neftgas Holdings incorporates (Pável Ilyasov)

2013 Exxon had rights to
11.4 million acres in Russia &
(14.6 million in the US)

2014 Exxon had rights to
63.7 million acres in Russia

Sanctions halted Arctic drilling but did not prohibit acquisition of rights for future projects

Exxon holdings w/ OAO Rosneft include
* Laptev & Chukchi Seas
* Kara & Black Seas
These rights have expiration dates from 2017 -2023
and are to planned to begin contribution in 2020

Kara & Black Seas will cost estimated $350billion to develop

June 2016
St. Petersburg Economic Forum
Sechin (Rosneft) gives Tillerson (Exxon) thumbs up when Tillerson is asked about Sanctions and he says he will leave that to the governments...
(what does Sechin know?)


October 2016
Rosneft acquired Essar Oil (Indian Refinery- 400,000 bpd)
for $13billion
Includes: port terminals, power plants & pumps

Nov/Dec 2016
Rosneft acquired 30% of
Shouroulk in Egypt and its Zohr offshore gas field from Italy's ENI SPA for $1.575 billion


Dec. 2016
Rosneft Trading SA
Loans $1.5billion to
Venezuela PDV SA against 49.9% of US CITGO Holdings / CITGO Petroleum
Which includes 3 refineries and pipelines (749,000 bpd)
* Corpus Christi, Tx
* Lemont, Illinois
* Lake Charles, La. (6th largest in US)
(Hmmmm... sounds like a down payment on a future sale ... contingent upon sanctions being lifted)

Rosneft ownership is roughly
19.25% BP
19.50% QHG******
10% Russian Stock Market
50% Russia
1.25% other


The QHG 19.5% = the mystery shares referenced in the Steele/Trump Dossier ...

Russia's VTB temporarily loaned QHG 10.2billion (euro) to purchase the 19.5% of Rosneft

The loan was satisfied by a combination of payments:
300million euros from GlenCore
2.5 billion from Qatar
5.2 billion from Intesa SanPaolo on behalf of QHG (loan)
2.2billion ???? Not clear

QHG is made up of GlenCore & Qatar...
and
GlenCore = BP + Qatar

GlenCore
Lists as a director
Peter Grauer (Bloomberg) also a
director - Blackstone

QHG's loan from Intesa SanPaolo (Italian bank) who has partnership with GSO Capital division of Blackstone

Russian source says
QHG likely to default on loan

(Strange, Qatar has hundreds of billions... why finance? Why default? Perhaps just the mutually trusted neutral middleman?)

Meaning Intesa or whomever it assigns the loan to (GSO Capital/ Blackstone) will own that 19.5% upon default by QHG.... likely to occur immediately after sanctions are lifted.

[EX500rider]

40. So lifting sanctions on Russia would somehow turn us into Venz.?

I don't think so.

[pbmus]

41. No, I didnt mean it that way...

The major reason for Venezuela s demise is simply lack of support from international community driven by oil interests and nation building...

[EX500rider]

42. No, the major and only reason is the Venz. govt's inept handling of their economy...

...inept being a major understatement.

[pbmus]

43. There economy has been manipulated by many people,

Other than Venezuela...

[EX500rider]

45. 99% of Venz's problems are self inflicted.

How has their economy been "manipulated" by non-Venezuelans?

[COLGATE4]

50. I keep telling you- it's the Illuminati. I know it's so

because Alex Jones told me so!

[metalbot]

44. Lack of support in what sense?

What does one do to "support" or "not support" a country that sells a commodity on an open market?

Or are you asking why the international community isn't lining up to loan Venezuela money?

Or are you asking why large multinationals who had their assets seized aren't lining up to invest again?

Or are you asking why foreign workers aren't excited about moving to a high crime country that's on the cusp of a violent revolution?

[pbmus]

46. Symptoms are not the disease...

United States–Venezuela relations are the bilateral relations between the United States of America and the Bolivarian Republic of Venezuela. Relations have traditionally been characterized by an important trade and investment relationship and cooperation in combating the production and transit of illegal drugs. Relations were strong under conservative governments in Venezuela, like that of Rafael Caldera.[1] However, tensions increased after the socialist President Hugo Chávez assumed elected office in 1999. Tensions between the countries increased after Venezuela accused the administration of George W. Bush of supporting the Venezuelan failed coup attempt in 2002 against Chavez,[2][3] an accusation that was partly retracted later.[4] Venezuela broke off diplomatic relations with the U.S. in September 2008 in solidarity with Bolivia after a U.S. ambassador was accused of cooperating with violent anti-government groups in that country, though relations were reestablished under President Barack Obama in June 2009. In February 2014, the Venezuelan government ordered three American diplomats to leave the country on charges of promoting violence.[5]

https://en.m.wikipedia.org/wiki/United_States–Venezuela_relations

[EX500rider]

48. To ask if the US is trying to hurt Venz in any meaningful fashion..

1st ask who Venz's biggest trading partner for both exports AND import is......and the answer is the USA.

http://countries.bridgat.com/Venezuela_Trade_Partners.html

51% of exports and 30% of imports......way to stick it to them, eh?

[Fred Sanders]

53. Kind of makes the point the US sanctions are intended to choke the economy and doing a good job!

Symptoms are not the disease.

[EX500rider]

54. So the US being their major trading partner will somehow "choke" their economy?

More like the opposite.

[Fred Sanders]

55. Yes. Fun Fact: 85% of Venezuela exports to US, 2016 was oil. Choking is easy if you are the major

trading partner and one product is 85% of that...stop the trading in oil. Plus other sanctions and no problemo blowing up an economy on purpose...as we can all now agree.

See my point now?

?x30163

[EX500rider]

56. Except we aren't doing that are we?

"Could" is not the same as "are" doing that.

"State-run oil company PDVSA and its joint ventures sent 475,165 barrels per day to its customers in the United States last month, down 36 percent from a year earlier and 12 percent from October.

The South American country has lost 1 million bpd of production in the last four years and pumped less than 2 million bpd in October, according to official numbers reported to the Organization of the Petroleum Exporting Countries."

Falling production seems to be the problem.

[IronLionZion]

47. Trump has put industry executives in charge of government agencies regulating their industries

people whose careers have been in opposition to these agencies. He has decided not to enforce sanctions against Russia even though it was voted on by Congress almost unanimously. He has stacked the federal courts with his judges after they blocked most of Obama's appointees in the last few years and left those positions vacant for this very reason.

Sure it's not exactly the same as Venezuela but the parallels are very clearly there.

Many on DU are convinced our last election had foreign interference and fraud to put Trump in power.

[EX500rider]

49. Actually it's exactly opposite...

Venz. put government lackeys in charge of industry, not the other way around.

[IronLionZion]

51. Trump put industry lackeys in charge of government

to deliberately weaken the agencies and regulations

[EX500rider]

52. Yes but that won't have the economic effect of doing the opposite like Venz did.