People are fleeing the socialism forced on them in Venezuela by the hundreds of thousands. Starving, and facing violence over crumbs of food, many have no choice but to flee the wasteland which used the authority of government to destroy the lives of its citizens.
Thousands of Venezuelans are attempting to flee the socialist dystopia their nation has become. They are attempting to make it to Colombia. In a desperate bid to escape the hunger and soaring crime rate caused by the spiraling economic crisis, fueled by socialist policies, incredible pictures have surfaced showing the mass exodus of refugees crossing the Simon Bolivar international bridge trying to flee the ongoing political crisis threatening to engulf Venezuela.
Colombia and its neighbor Brazil have both sent extra soldiers to patrol their porous borders with Venezuela after officially taking in more than half a million migrants over the last six months of 2017. The country is also tightening its border controls in a bid to stem the flow of starving people. The situation in Venezuela has reached SHTF levels.
Truck drivers are subjected to horrific violence as looters target heavy goods vehicles carrying food in a desperate attempt to feed their families. The truckers are banned by the government from carrying guns to protect themselves, so have resorted to forming convoys to protect each other. They text each other warnings about potential trouble spots and keep moving as fast as possible.
According to Reuters, there were 162 lootings across Venezuela in January, including 42 robberies of trucks. That is compared to just eight lootings, including one truck robbery, 12 months ago. Last month, eight people were killed in lootings alone. Venezuela has one of the world’s highest murder rates and the attacks are pushing up food and transport costs.
The plunder is heaping more pain on battered businesses, raising questions about how much longer the starving Venezuelans can survive. The country, which is run by a full-blown socialist regime is suffering a fifth straight year of recession and the world’s highest inflation rate. –SHTFPlan
Massive numbers of Venezuelans have been driven from their homes by the dire financial crisis spurred by the disease that is socialism. Many are struggling to feed themselves and their only hope may be an exodus to Colombia. “Colombia has never lived a situation like the one we are encountering today,” said Colombian President Juan Manuel Santos. On Thursday, Santos announced new measures that would make it much more difficult for Venezuelan migrants to cross into the country illegally or remain there without any official status.
Colombia believes that there are currently around 600,000 Venezuelans illegally residing in the country. That number is expected to rise, as Venezuela continues to crumble.
NY Times Major Piece On Starvation In Venezuela, But Doesn't Mention One Thing
Political and economic crisis have erupted in what was once Latin America's richest country. Daily protests and an increasingly authoritarian leader threaten to transform Venezuela into a failed state. NY Times finally recognizes the dire economic conditions of socialist Venezuela -- without actually mentioning the word socialism.
This was also posted about 112 days ago.
50% of US millennials say they'd rather live in Venezuela
According to the latest survey from the Victims of Communism Memorial Foundation, a D.C.-based nonprofit, one in two U.S. millennials say they would rather live in a socialist or communist country than a capitalist democracy.
What’s more, 22% of them have a favorable view of Karl Marx and a surprising number see Joseph Stalin and Kim Jong Un as “heroes.”
This was also posted about 180 days ago.
BREAKING: Surprise Name Exempt From Trump Venezuela Bond Trading Plan
Goldman Sachs has been "unexpectedly" exempt from Trump's Venezuela bond trading ban.
When the White House announced on Friday that Trump had signed an executive order deepening the sanctions on Venezuela, and confirming the previously rumored trading ban in Venezuelan debt that earlier in the week had sent VENZ/PDVSA bonds tumbling, we made what we thought at the time was a sarcastic comment that in light of the recent scandal involving Goldman's purchase of Venezuela Hunger Bonds, that Lloyd Blankfein's hedge fund, which now controls the presidency and next year will also take over the Fed courtesy of Gary Cohn, would be exempt from the trading ban:
And, as it so often happens in a world controlled by Goldman (as a reminder, in 2018 the world's three most important central banks, the Fed, the ECB and the BOE will be run by former Goldman employees: Gary Cohn, Mario Draghi and Mark Carney), sarcasm has a way of chronically turning into truth, and as Bloomberg confirmed overnight, one of Venezuela's largest bondholders is "breathing a sigh of relief."
That would be Goldman Sachs Asset Management, which infamously bought $2.8 billion of notes issued by state oil company PDVSA in May, and has since faced sharp criticism for a deal that appeared to supply fresh funds to President Nicolas Maduro. Confirming our initial "sarcastic" reaction, while observers thought the Goldman bonds would be a prime target for new penalties, they were exempt from the order. In fact, the only bonds covered by the trading ban are notes due in 2036 that appear to never have been sold outside Caracas.
“That was somewhat surprising,” said Francisco Rodriguez, the chief economist at Torino Capital in New York. “I guess the logic is that those bonds are already in the hands of bondholders, so you wouldn’t be really blocking new financing.”
Actually no, Francisco, the logic is that if Goldman was forced to liquidate the bonds, or worse was stuck holding them as Venezuela went bankrupt, it would take a huge hit on the nearly $3 billion notional position. As such, Goldman's advisors to Trump made it quite clear that any sanctions against Venezuela would have to be Goldman Sachs revenue netural first and foremost.
That's precisely what happened.
Even more ironic is that the market immediately saw right through Trump's shallow attempt to "punish" Venezuela which however would exempt his top Wall Street advisory, and the market reaction across the board was fairly muted Friday, with both sovereign bonds and notes from Petroleos de Venezuela SA posting gains.
The gains on Friday -- with most notes up less than half a cent -- show investors’ relief after the Wall Street Journal reported earlier in the week that U.S. officials were considering a blanket ban on all trading in Venezuelan debt. Such a move would have left investors stuck holding debt that is considered among the world’s riskiest.
As described yesterday, the new executive order bans Venezuela from raising cash with new debt offerings, and prohibits transactions in older bonds held by government officials and entities... just not Goldman Sachs. The sanctions will likely force the oil-rich nation to reduce imports to conserve cash, thus deepening the already severe economic contraction in the country, according to Rodriguez.
In retrospect, it appears that Goldman will benefit not just once but twice from the latest Trump "sanctions" - the second time will be on the bank's long oil prop position (remember when the Volcker rule prevented banks from putting on proprietary positions for a few months back in 2010... good times) as oil is about to spike should Venezuela finally default:
Read more: (Link: www.zerohedge.com)