Venezuela is running out of cash and selling its gold

[C130]

Venezuela is running out of cash and selling its gold - Oct. 29, 2015

The cash-strapped country could default by next year when lots of debt payments are due. Venezuela's reserves, which are mostly made up of gold, have fallen sharply this year asthe country needs cash to pay off debt and tries to maintain its social welfare programs.

Venezuela owes about $15.8 billion in debt payments between now and the end of 2016.

But it doesn't have enough to make good on its payments. Venezuela only has $15.2 billion in foreign reserves -- the lowest amount since 2003. A lot of those reserves are in gold.

Less than $1 billion of Venezuela's reserves are in cash, and it has a couple billion in reserves at the IMF.


this is just hilarious Socialism of the 21st century ladies and gentlemen I am willing tto bet they squandered at least $1 trillion dollars since 1999 when Hugo Chavez took over.

they should of copied the Norwegian model

All Norwegians become millionaires as oil fund balloons

 

[oproh]

China is not a democratic country but the country is richer than america, poor america and its $18 trillion debt that is growing nonstop.

 

[C130]

China is not a democratic country but the country is richer than america, poor america and its $18 trillion debt that is growing nonstop.

China is more Capitalist than the U.S

Democracy has nothing to do with it

This is about Venezuela and it's failed socialism

Honestly China should just come in and run the show. Nicolas Maduro and friends have no idea how to run a country.


Chinese Empire of the 21st Century >21st Bolivarian Socialism

 

[surya kiran]

Let us stir things up a little shall we?

@jamahir

 

[jamahir]

Socialism of the 21st century ladies and gentlemen

and that was libya until "uno" what happened.

I am willing tto bet they squandered at least $1 trillion dollars since 1999 when Hugo Chavez took over.

how did you calculate that??

and what do you mean squandered??

they should of copied the Norwegian model

All Norwegians become millionaires as oil fund balloons

Set up in 1990, the fund owns around 1 percent of the world's stocks, as well as bonds and real estate from London to Boston

unless you are being sarcastic, how is that a wise or humanitarian thing??

Let us stir things up a little shall we?

@jamahir

what do you mean??

 

[C130]

and that was libya until "uno" what happened.



how did you calculate that??

and what do you mean squandered??





unless you are being sarcastic, how is that a wise or humanitarian thing??



what do you mean??

Libya model was better than Chavez/Maduro I will admit that. I am talking about Bolivarian Socialism in this topic


how did I calculate that? by the lost in potential oil sales that the government could be getting instead of subsidizing the cheapest petrol in the world and giving it away in petrocaribe.

just to subsidize the 700,000+bpd that the populace uses costs the socialist government $50,000,000,0000 dollars a year. It costs less than 5 cents to fill up a SUV if you use the black market exchange rate of $1 to 820 Bolivars

Cheap Gasoline: Why Venezuela Is Doomed To Collapse

I want to be conservative and say the government has lost out on about $300 billion to $500 billion on that subsidy alone.,especially when oil was over $100 for several years straight.

the other $500 billion on missions that some well say worked and was great for the poor, but you can say that for most of South America,Africa, and Asia that has happened in the last 20 years

and corruption.

it's a wise thing because they would have over $500 billion in a fund right now to survive low oil and to help future generations of Venezuelans.

now they face hyperinflation,default, shortages of goods, and one of highest crime/murder rates in the world.

21st socialism at work

 

[surya kiran]

what do you mean??

You are the in house socialist. It is always nice to read a different perspective. Else, whats the use of a forum? No jokes intended.

 

[Audio]

Oh man.....Venezuela broke.....now imagine...all those hotties running around with no money. /planning trip to Venezuela this winter!

For the uninformed....Venezuela leads the in Miss World titles by quite a large margin. Have a lot of family in merchant navy....the stories from my cousins....oy vey!!!!!!

Also, Carribbean/Latin men are just trash. The Dominican strippers in the local strip club say their husbands beat them if they didn't perform a blowjob on command. Enter me, with my irresistible charm and savvy jokes. Whole country will go down when i come!

 

[C130]

Maduro says Venezuela's 2015 budget to put oil at $60 dollars| Reuters

Oct 17 Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.

Venezuela routinely underestimates oil prices when planning its budget to permit more spending later with fewer budget restrictions. The OPEC country's 2014 budget proposal also put oil prices at $60 dollars.



so little bit over a year ago Maduro said the budget for 2015 would be designed for oil at $60, but whoopsie oil is averaging around $45-$50 dollars and Venezuela crude doesn't even sell for that it sells for cheaper because of low quaulity more like $38 at this moment!! and oil isn't expected to go over $60 til 2017 lol

no wonder he is whining for special OPEC meetings and for a price band of $88 dollars!!

Venezuelan President Maduro says $88 oil price needed - BBC News


Venezuelan President Nicolas Maduro has called for an average global oil price of $88 (£57) a barrel "to maintain investments worldwide".

He was speaking on Tuesday evening ahead of a technical meeting of experts from Opec and non-Opec countries in Vienna on Wednesday.

Venezuela, one of the world's biggest oil exporters, has seen its revenues hit hard by plunging oil prices.

Prices have dropped from $115 a barrel in June 2014 to below $50 this month.

 

[T90TankGuy]

and that was libya until "uno" what happened.



how did you calculate that??

and what do you mean squandered??





unless you are being sarcastic, how is that a wise or humanitarian thing??



what do you mean??

Bro where are you from and what do you do ?I am interested as you have views which make me wonder. (no offense meant you know i respect your views.)

 

[jamahir]

Bro where are you from

somewhere in the south.

and what do you do ?

1. working on a radical computer design, including its microprocessor... am building a software-based emulator to test the design as a fpga board is costly.

2. am in the beginnings of establishing a career within india's progressive political circles ( can't name the party at the moment ).

I am interested as you have views which make me wonder. (no offense meant you know i respect your views.)

Libya model was better than Chavez/Maduro

libyan model is a model for the world.

I am talking about Bolivarian Socialism in this topic

one effect of bolivarian socialism has been in two clearly visible significant directions if one wishes to look - (a). being a model for "urban farming" which every other country can learn from, (b). rearrangement of venezuela into decentralized direct-democracy "comunas" ( communes ) jamahiriya-style.

venezuela is a society in significant revolutionary change, which is why president maduro is so insistent of protecting it to the full, despite the cia "color revolution" trying to overthrow him and his party.

from ( Venezuelan President Nicolás Maduro Says He Will Sue U.S. - WSJ )...

“My concern is that we are not willing to challenge regimes whether it be in Venezuela or in Cuba,” said the senator. “When is the demarcation in which we say our diplomacy hasn’t worked at this point? How do we back it up with some strength?”

from ( Venezuela's President Maduro Says He Won't Hand Over Revolution - Bloomberg Business )...

“The revolution will not be surrendered ever,” Maduro said. “With the constitution in hand, we will push Venezuela’s independence forward, whatever the costs, in any way.”

how did I calculate that? by the lost in potential oil sales that the government could be getting instead of subsidizing the cheapest petrol in the world and giving it away in petrocaribe.

just to subsidize the 700,000+bpd that the populace uses costs the socialist government $50,000,000,0000 dollars a year. It costs less than 5 cents to fill up a SUV if you use the black market exchange rate of $1 to 820 Bolivars

Cheap Gasoline: Why Venezuela Is Doomed To Collapse

I want to be conservative and say the government has lost out on about $300 billion to $500 billion on that subsidy alone.,especially when oil was over $100 for several years straight.

now wait... you and the author of that article are blaming venezuela government for doing good for the citizens ( almost removing money for petrol ) !!

But don’t hold your breath. Despots propped up by revenues from natural resources have had a surprisingly robust track record over the past 100 years. Saddam Hussein survived through ruthlessness and handouts to Baath party loyalists. Khadafi perfected the same model in Libya.

damned if you do, damned if you don't !!

the author uses "party loyalists" to hide that in those countries, citizen actually benefited.

in the libyan jamahiriya, the citizens paid 14 usa cents for their petrol fill-up and yet libya was a very comfortable society, until 2011.

are you saying that governments should squeeze every cent out their citizens not only through unnecessary income taxes but also via charging them for basic needs like petrol, housing, electricity and water??

what are governments for then??

it's a wise thing because they would have over $500 billion in a fund right now to survive low oil and to help future generations of Venezuelans.

from what i said in the opening, venezuela government is doing social/political re-engineering to ensure a better society presently and for future.

without cia intervention in venezuela, the situation will even out and the government will make their oil proceeds more efficient in terms of being applied not only for day to day things like foodstuff import but also for the different socialist welfare programs.

regarding grown food crop, like i said in the opening, venezuela is becoming self-sufficient.

now they face hyperinflation,default, shortages of goods, and one of highest crime/murder rates in the world.

the crime rates will go down drastically when venezuela achieves a proper socialist system... as for the other things you mention, they depend also on if external/internal conspiracy is happening... for example, opposition-loyalist merchants have been accused by the government of hoarding goods, is it not??

 

[C130]

somewhere in the south.



1. working on a radical computer design, including its microprocessor... am building a software-based emulator to test the design as a fpga board is costly.

2. am in the beginnings of establishing a career within india's progressive political circles ( can't name the party at the moment ).







libyan model is a model for the world.



one effect of bolivarian socialism has been in two clearly visible significant directions if one wishes to look - (a). being a model for "urban farming" which every other country can learn from, (b). rearrangement of venezuela into decentralized direct-democracy "comunas" ( communes ) jamahiriya-style.

venezuela is a society in significant revolutionary change, which is why president maduro is so insistent of protecting it to the full, despite the cia "color revolution" trying to overthrow him and his party.

from ( Venezuelan President Nicolás Maduro Says He Will Sue U.S. - WSJ )...



from ( Venezuela's President Maduro Says He Won't Hand Over Revolution - Bloomberg Business )...






now wait... you and the author of that article are blaming venezuela government for doing good for the citizens ( almost removing money for petrol ) !!


damned if you do, damned if you don't !!

the author uses "party loyalists" to hide that in those countries, citizen actually benefited.

in the libyan jamahiriya, the citizens paid 14 usa cents for their petrol fill-up and yet libya was a very comfortable society, until 2011.

are you saying that governments should squeeze every cent out their citizens not only through unnecessary income taxes but also via charging them for basic needs like petrol, housing, electricity and water??

what are governments for then??



from what i said in the opening, venezuela government is doing social/political re-engineering to ensure a better society presently and for future.

without cia intervention in venezuela, the situation will even out and the government will make their oil proceeds more efficient in terms of being applied not only for day to day things like foodstuff import but also for the different socialist welfare programs.

regarding grown food crop, like i said in the opening, venezuela is becoming self-sufficient.



the crime rates will go down drastically when venezuela achieves a proper socialist system... as for the other things you mention, they depend also on if external/internal conspiracy is happening... for example, opposition-loyalist merchants have been accused by the government of hoarding goods, is it not??

"urban farming" so how is it since the revolution in '99 that Venezuela actually imports most of it's food, and fertile land isn't being farmed or under utilized.

Venezuela food shortages: 'No one can explain why a rich country has no food' | Virginia Lopez | Global development | The Guardian

revolutionary change, lol. if you think Venezuela is living in a socialist/communist wonderland then you are delusional.

are you saying that governments should squeeze every cent out their citizens not only through unnecessary income taxes but also via charging them for basic needs like petrol, housing, electricity and water??

did I say squeeze every cent from them?? so you are saying everyone in Venezuela is entited to free petrol, a free house, free electricity, and water communist utopia where everything is free and nothing has value.


there is no CIA color revolution going on in Venezuela. the house of cards is collapsing a revolution against the old revolution is happening though.

dictator Maduro is showing his true colors.

Venezuela's President Maduro Says He Won't Hand Over Revolution - Bloomberg Business

the crime rates will go down drastically when venezuela achieves a proper socialist system

Venezuela's High Crime Rate Hobbles Economy - Businessweek
It's funny since when Hugo took over crime has actually increased every year and is getting worse with Maduro in charge.

when is this perfect socialist utopia suppose to happen??

 

[Gijoe]

Venezulla need to adopt communism. Socialism is dead. One system government rule, democrats system is a lied. Voting is just a waste of time, because either vote for this PM or that PM they all a puppet to the congress. Just like America, 2 party under 1 congress. What the difference of 1 party rule.

 

[anon45]

not surprised, madurao is incompetent.

Venezulla need to adopt communism. Socialism is dead. One system government rule, democrats system is a lied. Voting is just a waste of time, because either vote for this PM or that PM they all a puppet to the congress. Just like America, 2 party under 1 congress. What the difference of 1 party rule.

Lol you are right that Venezuela's 'democratic system' is a lie, but Communism is dead or nearly dead too.

Here is the start of a series about the system of US government btw.

 

[Gijoe]

not surprised, madurao is incompetent.


Lol you are right that Venezuela's 'democratic system' is a lie, but Communism is dead or nearly dead too.

Here is the start of a series about the system of US government btw.

BS, American democratic system is a joke. Both the republican and the democratic are under 1 congress skirt. What the hell is voting needed in place? When both party are decided by congress. What a joke of voting, lol did you count the vote? Lol, when congress said ok this year republican take presidency. Then next year, democratic take presidency. If you see the vote and count it then you know that American voting is true. Communist not dead, Russia, China, Cuba, NK and Vietnam still worship the flag.