• Tag Archives Venezuela
  • Trump Disbands Advisory Councils As CEOs Flee; Pence Ends LatAm Trip Early

    Rather than putting pressure on the businesspeople of the Manufacturing Council & Strategy & Policy Forum, I am ending both. Thank you all!
    — Donald J. Trump (@realDonaldTrump) August 16, 2017

    Update 2: Following its decision to disband, which took place even as two more CEOs from the mfg council – the chiefs of J&J and United Tech – were announcing their resignations. Trump’s now defunct Strategy Council has just issued the following statement:
    “As our members have expressed individually over the past several days, intolerance, racism and violence have absolutely no place in this country and are an affront to core American values. The President’s Strategic and Policy Forum was conceived as a bi-partisan group of business leaders called to serve our country by providing independent feedback and perspectives directly to the President on accelerating economic growth and job creation in the United States. We believe the debate over Forum participation has become a distraction from our well-intentioned and sincere desire to aid vital policy discussions on how to improve the lives of everyday Americans. As such, the President and we are disbanding the Forum. Job creation and supporting an inclusive pro-growth agenda remain vitally important to the progress of our country. As Americans, we are all united in our desire to see our country succeed.”
    Meanwhile, as noted earlier, VP Pence will end his visit to South America early and fly home on Thursday, after the latest Trump scandal which led to the dissolution of two of his key economic advisory councils following the riots in Charlottesville, Va.
    As AP reported previously, Pence will cut short his trip to South America, where he joined Chile President Michelle Bachelet for a joint press conference Wednesday on the political unrest in Venezuela. The vice president defended Trump just days ago as Trump drew bipartisan criticism for his remarks following the violent events in Charlottesville, and may return in order to directly address critics and steady the administration after the dissolution of the American Manufacturing Council and Strategy and Policy Forum.

    This post was published at Zero Hedge on Aug 16, 2017.


  • A New Currency Emerges As The Old Currency Withers Away, Welcome To The Transition – Episode 1355a

    The following video was published by X22Report on Aug 14, 2017
    The restaurant industry is experiencing a slow down in traffic and sales even with rising food and drink prices. Trump signs memo looking into the trade agreements with China. From all the indicators that are now out in the public domain the US economy is in a recession even though the Fed has not acknowledged it. IRS reports quarterly taxes are down 40% as more individuals are not paying up. Does the Fed have 6200 tons of gold, we don’t because they will not allow anyone to audit it . Venezuela and many other countries are turning towards cryptocurrencies. The central banks are pushing to stop people from using cryptocurrencies, what we are witnessing is the transition into a new currency, a new system.


  • Futures Up, Gold Down With World “On The Brink”

    Despite the dramatic action in Bitcoin this weekend, it appears the world’s wise capital markets investors know just what to do faced with civil war in America, kinetic war with Venezuela, and nuclear war with North Korea – simple – Buy The Dow and Sell Gold…

    This post was published at Zero Hedge on Aug 13, 2017.


  • Could Bitcoin Help Venezuelans As Crisis Deepens?

    Protests continue to rage in Venezuela as inflation soars to unprecedented levels and the price of oil remains low. The country’s national currency is now worth less than fictional gold in Azeroth, the setting of the popular massively multiplayer online role-playing game World of Warcraft, pushing Venezuelans to bitcoin to hedge against the nation’s struggling economy.
    So, What Happened?
    Under President Hugo Chavez, Venezuela underwent a revolution, bringing social programs such as education and health care to the people, propped up by increasing oil prices. During his presidency, however, Chavez was accused of bending the economy for personal gain, human rights violations, and intimidation of the media. Price controls placed on basic goods, including food, initially meant to redistribute wealth and reduce costs, led to hyperinflation and shortages. Crime and violence also increased drastically under Chavez, leaving the country as one of the most violent in the world. Venezuela’s misfortune increased, however. In 2013, Chavez passed away and his Vice President, Nicols Maduro, took power. Worries of corruption mounted while plummeting oil prices created an economic climate which was less than desirable. Maduro’s inherited economic burden, in addition to the leader’s failure to diversify the country’s economy led to widespread protests in 2014.

    This post was published at Zero Hedge on Aug 13, 2017.


  • Asian Metals Market Update: August-11-2017

    Factors which can affect markets
    Trump’s rhetoric on nuclear attack on North Korea is a case of barking dogs seldom bite. A nuclear attack on North Korea will indirectly affect people of South Korea as well as people of China. The Japanese Fukushima nuclear disaster is still yet to be fully controlled despite many years. All news related to Fukushima is highly censored. There is a difference between armed attack to dethrone the North Korean monarchy and a nuclear attack. There is a little doubt that North Korea will very soon become a colony of NATO. The American knows that North Korea armed attack will get over quickly whenever they want it. So they have now started Venezuela. American say that Venezuelan elections is rigged and was not conducted in the way they want to. America’s message to the world is that if anything is not done as per their whims and fancies then unleash a global alienation for that nation. On the contrary everyone knows that American elections is the most rigged election among the democratic nations. Certain reports say that the per capita alcoholics is highest in USA in the world, USA has the highest per capita credit card debt. The real purchasing power of the US dollar is on the slide. In the long term gold will rise. Gold is money. Gold is the real asset.

    This post was published at GoldSeek on 11 August 2017.


  • Venezuela: Dictatorship, Collapse And Consequence

    If you want to outline the numerous failures of ideological and economic socialism, just name any socialist nation and you are sure to uncover an endless supply of examples. In fact, many countries where socialism is not total but making considerable inroads often suffer from severe decline – the U. S. being one of them. Whatever socialism touches it destroys, because forced interdependency does not work. It is a broken concept with no large scale successes (this includes China, which suffers from considerable poverty and a totalitarian government despite it being the most successful garbage economy out of a host of other garbage economies). Yet, proponents of socialism keep trying again and again claiming that “this time is different.”
    So ample have been socialism’s failures in the past several years that socialists have resorted to a classic blame game in order to maintain the delusion. You see, when you bring up nations at the very end of the socialist cycle on the verge of extinction – nations like Venezuela, all you are going to hear is the argument that it was “the evil western capitalists that sabotaged the experiment.”
    This is a fascinating journey into cognitive dissonance. Because in order to believe this nonsense, you have to first ignore the cold hard reality that socialist policies and politics have permeated every aspect of most western nations to the point that they can no longer be called free market societies. The fact is, IF sabotage of Venezuela can be proven as the cause of its economic ills rather than the inherent pitfalls of socialism, it would merely be a group of socialist nations sabotaging another socialist nation. “Capitalism” plays no part in this mess whatsoever.

    This post was published at Alt-Market on Wednesday, 09 August 2017.


  • Repsol, Statoil Pull Foreign Oil Workers From Venezuela

    One day after Venezuela allegedly squashed a “military rebellion“, in anticipation of further political and social turmoil in the socialist nation, energy giant Repsol SA pulled all foreign workers from its fields in Venezuela, Bloomberg reports adding that Norway’s Statoil ASA also removed all expat staff.
    According to Bloomberg, Repsol field workers left the country in the past few weeks, with a skeleton expatriate staff remaining at the company’s offices in Caracas. Separately, Statoil withdrew its last three foreign workers before the July 30 election to ensure their safety, Erik Haaland, a company spokesman, told Bloomberg by phone.
    The immediate result of the departures will be an even bigger decline in Venezuela’s oil output – the only remaining asset which Maduro can readily exchange for dollars – further exacerbating the country’s financial crisis as the inflow of hard currency slows further.

    This post was published at Zero Hedge on Aug 7, 2017.


  • Venezuela Currency Disintegrates: Down 16% Today

    Venezuela’s currency, the bolivar, is disintegrating at an incredible pace under the country’s political and economic crisis that has left citizens broke, desperate and in many cases, homicidal. The depreciation accelerated this week, after a disputed vote electing an all-powerful “Constituent Assembly” filled with allies of President Nicolas Maduro, which the opposition and dozens of countries have called illegitimate.
    Just two days ago, on August 2, we reported that one dollar would buy 14,100 bolivars, up from 11,280 the day before.

    This post was published at Zero Hedge on Aug 4, 2017.


  • Venezuela Bolivar Loses A Third Of Its Value In The Past Week

    With events in Venezuela now well into the endgame, following US sanctions that named “dictator” Maduro personally and a likely subsequent sanction that will cripple Venezuela’s oil industry promptly resulting in the nation’s insolvency as it loses its last remaining source of revenue, things are moving fast. So fast, in fact, that according to Reuters, Venezuela’s money supply surged 10% in just one week earlier this month, its largest single-week rise in a quarter of a century.
    Meanwhile, in addition to now daily protests and strikes, Venezuela is undergoing a major economic crisis, with millions suffering food shortages, monthly wages worth only the tens of U. S. dollars, and soaring inflation – although no official data is available. The central bank said late on Friday the total amount of local currency in circulation, or M2 as of July 21, was 27.3 trillion bolivars, up 9.66% from the previous week.
    Obviously, the exponential rise in M2, the sum of cash, together with checking, savings, and other deposits, also means an exponential rise in the amount of currency circulating. As a result, Venezuela’s money supply is up 384% in the last year. In contrast, the United States’ money supply is up 5.5% in the same period.

    This post was published at Zero Hedge on Aug 2, 2017.


  • AUGUST 1/2017/SENATOR LINDSAY GRAHAM: ‘USA IS PREPARED TO STRIKE NORTH KOREA’/GOLD UP $4.95 BUT SILVER FLAT/GOLD AND SILVER EQUITY SHARES FALL AGAIN/CHAOS RUNS SUPREME IN VENEZUELA/USA SANCTIONS …

    GOLD: $1272.95 UP $4.95
    Silver: $16.79 UP 0 cent(s)
    Closing access prices:
    Gold $1269.00
    silver: $16.74
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1275.01 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1270.25
    PREMIUM FIRST FIX: $4.76
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1274,31
    NY GOLD PRICE AT THE EXACT SAME TIME: $1269.35
    Premium of Shanghai 2nd fix/NY:$5.01
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1267.05
    NY PRICING AT THE EXACT SAME TIME: $1267.70
    LONDON SECOND GOLD FIX 10 AM: $1270.95
    NY PRICING AT THE EXACT SAME TIME. $1273.00
    For comex gold:
    AUGUST/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 1309 NOTICE(S) FOR 130,900 OZ.
    TOTAL NOTICES SO FAR: 2946 FOR 294600 OZ (9.1632 TONNES)
    For silver:
    AUGUST
    71 NOTICES FILED TODAY FOR
    355,000 OZ/
    Total number of notices filed so far this month: 304 for 1,520,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    Yesterday I wrote the following:
    ‘On yesterday’s (Friday’s) commentary I thought we were going to have a raid today. I noticed that the gold/silver equity shares sold off badly yesterday and that is a sure sign that an attack will occur. Probably our crooks were blindsided today with the failure of the Republicans to pass the healthcare bill as well as lousy GDP report, the all important wage inflation is non existent and the passing of new sanctions against Russia. And then we can couple all of this with the new launching of a ICBM that could hit New York and Boston…and yet with all of that news, the gain in gold was less than 10 dollars and silver, 11 cents. However today again, the gold/silver equity shares fell off badly on closing and we have only Monday morning for options expiry. There has never been any time during any options expiry that the crooks have not generated a raid. So if they fail to raid on Monday, they are losing control as demand is far outstripping supply in our precious metals.
    it now looks like the boys have lost control of the gold/silver market/for sure silver with today’s attempted raid and failure. The bankers have decided to take their anger by hitting on the gold/silver equity shares.

    This post was published at Harvey Organ Blog on August 1, 2017.


  • Oil Just Plunged To A $48 Handle After Survey Suggests OPEC Output Jumped In July

    Extending losses from Goldman’s overnight report noting the minimal impact of Venezuelan sanctions, WTI crude just crashed below $49 on heavy volume after Bloomberg reports that a survey suggests that OPEC’s July oil output rose by 210K to 32.87mmb/d, led by growth in Libya who upped production by 180Kb/d to the highest since June 2013.
    The recovery of crude production from Libya is undermining OPEC’s efforts to curb its output as the African nation pumps unabated.
    Total crude production from the Organization of Petroleum Exporting Countries in July rose 210,000 barrels a day from June to reach 32.87 million barrels a day, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data.

    This post was published at Zero Hedge on Aug 1, 2017.


  • “They’ve Just Taken Leopoldo”: Maduro Detains Opposition Leaders At Gunpoint

    The crackdown by Venezuela President Nicolas Maduro – now officially branded a dictator by the U. S. – on political opposition intensified Tuesday when intelligence agents detained opposition leaders Leopoldo Lopez and Antonio Ledezma at gunpoint in their homes and took them into custody.
    The two politicians have been under house arrest for their involvement in anti-government protests and organizing, according to the BBC. Videos published online by family members of both men show them being led away in the middle of the night by agents from Sebin, the Venezuelan intelligence agency. Lopez’s wife Lilian Tintori said in a tweet: ‘They’ve just taken Leopoldo from the house. We don’t know where he is.’ She published grainy footage from the home’s security cameras showing her handcuffed husband being placed in the back of a car.
    Momentos en que @leopoldolopez es llevado por funcionarios del SEBIN. ( Sigue sin conocerse su pradero) pic.twitter.com/BrIURSa7q0
    — #SOSVenezuela (@aura_rojas) August 1, 2017

    This post was published at Zero Hedge on Aug 1, 2017.


  • Watch Live: Sarah Sanders Attempts To Explain What The Hell Is Going On At The White House

    Highest Stock Market EVER, best economic numbers in years, unemployment lowest in 17 years, wages raising, border secure, S. C.: No WH chaos!
    — Donald J. Trump (@realDonaldTrump) July 31, 2017

    Update: Following comments from McMaster and Mnuchin on Venezuelan sanctions, pretty much every question at today’s White House press briefing was related to Scaramucci’s sudden dismissal. And while Sanders made it clear early on that she wasn’t going to offer any incremental details beyond the official statement released earlier, it didn’t stop pretty much every reporter from asking the exact same quetion over and over.
    *SANDERS: SCARAMUCCI HAS NO ROLE AT THIS TIME IN ADMINISTRATION
    *SANDERS: ALL WHITE HOUSE STAFF REPORT TO CHIEF OF STAFF KELLY
    *SANDERS: DECLINES TO SAY IF TRUMP REGRETS HIRING SCARAMUCCI

    This post was published at Zero Hedge on Jul 31, 2017.


  • WTI Jumps Above $50 On Report US Prepping Sanctions Against Venezuela Oil Industry

    After both Brent and WTI rose above their respective 50DMAs on Friday, capping 2017’s best weekly rally for oil, the rising tide is accelerating as the latest CFTC COT data confirmed, when net specs boosted bullish Nymex WTI crude oil bets by 27K net-long positions to 423K, the highest in two months, as producers continued to cover short hedges, sending their net position to the most bullish since the summer of 2015.

    Meanwhile, oil started the Sunday session jumping out of the gate, with WTI rising above $50 for the first time since May in early Asian trading, following the usual non-material weekend chatter and “noise” out of OPEC (which to exactly nobody’s surprise “can’t stop pumping“), however what has attracted traders’ attention, is a WSJ report that following last week’s latest round of sanctions, and after today’s vote to overhaul Venezuela’s constitution further entrenching Maduro’s unpopular regime, US government officials are considering announcing sanctions against Venezuela’s oil industry as early as Monday, although as the WSJ notes, a full-blown “embargo against Venezuelan crude oil imports into the U. S. is off the table for now.”

    This post was published at Zero Hedge on Jul 30, 2017.


  • The Bad Guys Are Cowering In The Corner As The Good Guys Clean House – Episode 1344b

    The following video was published by X22Report on Jul 30, 2017
    Trump and the good guys are now pushing the bad guys out, the elite are now panicking. A special counsel has been created to investigate Clinton, Comey and Lynch. US and Canada are telling its citizens to leave Venezuela. North Korea fired another missile, the bad guys want war and they are pushing the story that NK fired and ICBM and now its time to take action. The deep state is pushing the story that Russia is arming the Taliban, this is to push Trump into sending more troops. Russia invites BRICS to fight terrorism. The bad guys are still pushing their agenda they are training terrorists covertly in Jordan.


  • How Bad Is Venezuelan Inflation? It Is Giving Bitcoin A Run For Its Crypto-money

    This is a syndicated repost courtesy of Snake Hole Lounge. To view original, click here. Reposted with permission.
    Just how bad is inflation in Venezuela? A computer game with infinitely spawning enemies has a better exchange rate than the Venezuelan Bolivar.
    Venezuela has a staggering inflation rate. Thanks to Venezuela’s horrid fiscal and monetary policies. there are 8,493.97 Bolivars per US Dollar in the black market.

    This post was published at Wall Street Examiner by Anthony B Sanders ‘ July 29, 2017.


  • July 28/Gold rises by $9.30/silver up by 11 cents due to 1. lousy GDP report. 2. wage inflation non existent/3. Failure of the Senate to pass the skinny Health care bill. 4/ the Senate passes the…

    GOLD: $1269.60 UP $9.30
    Silver: $16.70 UP 11 cent(s)
    Closing access prices:
    Gold $1269.60
    silver: $16.76
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1265.79 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1259.55
    PREMIUM FIRST FIX: $6.24

    This post was published at Harvey Organ Blog on July 28, 2017.


  • US Orders Venezuela Embassy Families Out As Crisis “Showdown” Arrives

    On Thursday, the U. S. government ordered family members of employees at its embassy in Venezuela to leave as the nation’s political crisis deepened ahead of a controversial vote critics contend will end democracy in the oil-rich country. Similarly, Canada warned its nationals against non-essential travel to Venezuela and urged citizens already there to leave. As well as ordering relatives to leave, the U. S. State Department on Thursday also authorized the voluntary departure of any U. S. government employee at its compound-like hilltop embassy in Caracas, where hyperinflation is about to hit 1,000%.
    Meanwhile, as France 24 notes, Venezuela careened towards a “showdown” on its streets Friday between anti-government protesters and security forces, raising international alarm at worsening deadly unrest. The opposition called fresh nationwide demonstrations to defy a new government ban on rallies ahead of a controversial vote Sunday to elect a body to rewrite the constitution.

    This post was published at Zero Hedge on Jul 28, 2017.


  • JULY 25/COMEX OPTIONS EXPIRY AND AS ALWAYS GOLD AND SILVER ARE HIT: GOLD FALLS $2.10 BUT SILVER RESPONDS AND RISES 10 CENTS/GLD HAS A LOSS OF 9.17 TONNES/SLV HAS A LOSS OF 3.309 MILLION OZ/TURKEY…

    GOLD: $1252.40 DOWN $2.10
    Silver: $16.55 UP 10 cent(s)
    Closing access prices:
    Gold $1250.00
    silver: $16.52
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1259.96 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1254.25
    PREMIUM FIRST FIX: $5.71
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1262.69
    NY GOLD PRICE AT THE EXACT SAME TIME: $1257.25
    Premium of Shanghai 2nd fix/NY:$5.44
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1252.00
    NY PRICING AT THE EXACT SAME TIME: $1252.50
    LONDON SECOND GOLD FIX 10 AM: $1254.40
    NY PRICING AT THE EXACT SAME TIME. $1254.50
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 6 NOTICE(S) FOR 600 OZ.
    TOTAL NOTICES SO FAR: 157 FOR 15700 OZ (.4883 TONNES)
    For silver:
    JULY
    122 NOTICES FILED TODAY FOR
    610,000 OZ/
    Total number of notices filed so far this month: 3149 for 15,745,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    WE HAVE NOW ENTERED OPTIONS EXPIRY WEEK:
    COMEX OPTIONS EXPIRY: TOMORROW JULY 26.2017
    LONDON BASED OPTIONS EXPIRY: JULY 31.2017 AT 11AM OR SO.
    (OTC/LBMA CONTRACTS)

    This post was published at Harvey Organ Blog on July 25, 2017.