Maduro Nephews Arrested After Attempting To Smuggle 800 Kilos Of Cocaine Into The US

Jon Alternative Media, Blogosphere, Economy, Gold, Market Commentary, Precious Metals

For those unaware, Venezuela is one of the quintessential examples of what we like to call a Socialist paradise and to be sure, we’ve had our fair share at the country’s expense.
From toilet paper shortages, to images of empty shelves, to hapless President Nicolas Maduro being pelted in the head with a mango by an angry Venezuelan woman, the country never disappoints when it comes to producing absurd outcomes. Years of incompetence have led to inflation on a massive scale, with the black market bolivar exchange rate now so low that a hundred bolivar note will buy you just 14 cents. Needless to say, slumping crude prices haven’t done the country any favors either and as we outlined a few days back, the country has now resorted to selling its gold to make bond payments.

This post was published at Zero Hedge on 11/12/2015.