Venezuela is running out of cash and selling its gold

[anon45]

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.

Russia, China, and Vietnam are no longer Communist, no matter that the word is in the names of the latter two's political parties. N Korea hardly helps your point that communism is preferable to socialism. I'd say despite how bad it is, Venezuela is somewhat better than North Korea.

Cuba is the last Communist society left that could be held up, but even then they are indeed impoverished (every country outside the US is open to trade with them, so unless you are saying the US is critical to Cuban prosperity don't go there.).

Even then Capitalism is making inroads in Cuba, people have been allowed to buy and sell personal property for 5 years now, and with relations thawing we will only see capitalist influence increase.

As soon as the embargo is lifted you will see a flood of American capitalist dollars, American capitalist tourists, American capitalist products, and most importantly for Cuba, American capitalist demand. At that point Cubans will follow the money, just like China and Vietnam did. They might remain Socialist, but Communism will be dead... well except for dear daddy Kim, but that's China's problem.

As for both parties being decided by congress... did you watch the video I gave you? What you said just doesn't make sense, even in the context of corruption and conspiracy. How do 500 people let alone thousands of past senators and representatives, keep that sort of conspiracy a secret? Let alone the millions of staffers they employ. Or the large number of officials who handle the ballots? Not to mention election monitors, both foreign and domestic etc.

Elections in the United States of America | OSCE

 

[Vassnti]

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

Yes a wonderfull idea but when the goverment provides free food, free health care, free petrol, free houses there comes one little problem. Who pays for it.

When the answer is as is in Venezuelas case, the US through 140 dollar a barrel oil, that only lasts till the US gets tired of the rip off and starts producing their own oil.

No one in Venezuela was prepared to tell the truth when the gravy train finished. Blame the CIA or the fantasy world power of your choice but in the end in any system some one has to pay or you dont get to eat.

 

[CDown]

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

All forex reserves of all governments in the world represents between 6-10% of the Global AuM. The majority of wealth in the world is not held by governments, but by private/institutional investors and MNCs. It this sense, there is a much higher concentration of wealth in the US.

Google Credit Suisse Global Wealth Report 2014

 

[RoadRunner401]

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

Many poor Americans in colder climes will doubtless be dismayed to hear that shortly after ringing in the New Year, Congress and the president have decided to cut 25% from the Low Income Home Energy Assistance Program, (LIHEAP) showing once again their preference to default on the needy and vulnerable rather than asking the most powerful and wealthy to make even the smallest sacrifices.

Far more welcome news came from Citgo Petroleum Corporation, a subsidiary of Venezuela’s state-owned oil company, which announced that it would be continuing its six-year-old program of providing heating oil to poor Americans free of charge.

 

[gambit]

Many poor Americans in colder climes will doubtless be dismayed to hear that shortly after ringing in the New Year, Congress and the president have decided to cut 25% from the Low Income Home Energy Assistance Program, (LIHEAP) showing once again their preference to default on the needy and vulnerable rather than asking the most powerful and wealthy to make even the smallest sacrifices.

Far more welcome news came from Citgo Petroleum Corporation, a subsidiary of Venezuela’s state-owned oil company, which announced that it would be continuing its six-year-old program of providing heating oil to poor Americans free of charge.

What else can Venezuela do with its crappy oil ?

You mean you did not know that Orinoco crude is considered to be among the world's LEAST desirable grade of oil ?

Venezuela's Oil Infrastructure | Stratfor

Orinoco crude is extra heavy (highly viscous) and sour (laden with a variety of contaminants, including sulfur). In some cases, the oil must be superheated to be extracted from the ground. After that, it cannot be put directly into a pipeline; usually it must be "upgraded," or stripped of contaminants, before it can be efficiently transported. Upgrading Orinoco crude is a complex industrial process similar to refining and requires Venezuela to have upgrader facilities that do a first pass in refining the crude so that it can then be sold to a conventional refinery and turned into fuel.

There is a story...

Hugo Chavez offered a deal to China to subsidize transportation cost to/from Venezuela. The Chinese took the deal, except they did not tell Chavez what they were going to do with the crappy Orinoco crude. Once money exchanged, the Chinese tankers ran northward -- to the US -- and offloaded the sour crude to American refiners. The Chinese and Americans profited at Chavez's stupidity.

The Oil Drum | Tech Talk - Venezuela, heavy crudes, API gravity and refinery gains

...China is moving forward with plans to construct a refinery that will process the heavy Venezuelan crude that, until now, has largely been sent to specialized refineries in the United States that are designed to handle it.

So yeah...Please send poor Americans all the Venezuelan heating oil.

 

[haviZsultan]

Venezuela is only behind Honduras in its homicide rate and there is also a very high crime and kidnapping rate. But the murder rate is the second highest. Honestly the country deserves better than the crippling poverty and immense crime which is common.

 

[gambit]

Venezuela is only behind Honduras in its homicide rate and there is also a very high crime and kidnapping rate. But the murder rate is the second highest. Honestly the country deserves better than the crippling poverty and immense crime which is common.

It is more important that Venezuela do as much as possible to make the US look bad, even at the expense of giving away oil, no matter how low the grade.

Making US look bad will make Pakistanis on PDF happy and that is all that matters. Take a look at post 8 back on page one. How sad is it that the beauty of Venezuelan women is now the mean for a better life. But for many on PDF, as long as Venezuela can make US look bad, the sorry state of Venezuelan society is just collateral damage.

 

[RoadRunner401]

What else can Venezuela do with its crappy oil ?

You mean you did not know that Orinoco crude is considered to be among the world's LEAST desirable grade of oil ?

Venezuela's Oil Infrastructure | Stratfor

There is a story...

Hugo Chavez offered a deal to China to subsidize transportation cost to/from Venezuela. The Chinese took the deal, except they did not tell Chavez what they were going to do with the crappy Orinoco crude. Once money exchanged, the Chinese tankers ran northward -- to the US -- and offloaded the sour crude to American refiners. The Chinese and Americans profited at Chavez's stupidity.

The Oil Drum | Tech Talk - Venezuela, heavy crudes, API gravity and refinery gains

So yeah...Please send poor Americans all the Venezuelan heating oil.

CITGO-Venezuela Heating Oil Program is relatively small in the grand scheme of Venezuela's international economy. During the years of the program, CITGO says it has helped more than 1.7 million people stay warm during the coldest months of winter by donating more than 200 million gallons of heating oil. That oil has a value of more than $400 million. Currently, Venezuela is the United States' fourth largest supplier of imported crude oil: in 2011, they provided the United States with $42 billion in mineral fuel and crude oil.

And as far as Chinese deals with Venezuela is concerned, no comment since I have zero knowledge on the subject. One thing I am sure of, if (according to you that is) Chinese back track on deal they can be sued for millions.

 

[Echo_419]

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!

Share some pics if you can

 

[gambit]

CITGO-Venezuela Heating Oil Program is relatively small in the grand scheme of Venezuela's international economy. During the years of the program, CITGO says it has helped more than 1.7 million people stay warm during the coldest months of winter by donating more than 200 million gallons of heating oil. That oil has a value of more than $400 million. Currently, Venezuela is the United States' fourth largest supplier of imported crude oil: in 2011, they provided the United States with $42 billion in mineral fuel and crude oil.

And as far as Chinese deals with Venezuela is concerned, no comment since I have zero knowledge on the subject. One thing I am sure of, if (according to you that is) Chinese back track on deal they can be sued for millions.

And how much could that 400 millions do for Venezuelans ?

People like you think that just because Venezuela have among the world's largest oil reserves, it must mean something. The reality is that it means very little. Crude have different grades and the US have the greatest variety of grades, anything from light 'sweet' crude that sells for prime moolah on the international market all the way down to heavy grade that is good only for heating. If we buy Venezuela heavy crude, it is because it is cheaper than extracting the same grade from our own soil, then processing that into something useful.

Share some pics if you can

I get those 'South American' girlfriends ads in my browser all the time. I have Mormon friends who were missionaries in Venezuela and it was tough on them to remain true to their faith while on those two yrs tours. There are a lot fine women in Venezuela.

http://www.jsg.utexas.edu/lacp/files/UT-LACP-August-2014-Energy-Issue-Brief.pdf

Heavy-sour crude oils, such as those found in Venezuela, generally sell at a discount to light-sweet crude oil because they require additional processing and conversion to produce a higher yield and quality of high value transportation fuels such as gasoline, diesel and jet fuel. That discounted price creates an economic advantage for U.S. Gulf Coast refiners.

Yup...So cheer away for Venezuela.

Come to think of it, do not cheer. Instead -- pray. The Venezuelans are going to need all the help they can get. Probably only divine intervention can help them now.

 

[black-hawk_101]

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

Why not PAF helps them by buying up their 21 F-16s Block-15 with US permission.

 

[RoadRunner401]

And how much could that 400 millions do for Venezuelans ?

People like you think that just because Venezuela have among the world's largest oil reserves, it must mean something. The reality is that it means very little. Crude have different grades and the US have the greatest variety of grades, anything from light 'sweet' crude that sells for prime moolah on the international market all the way down to heavy grade that is good only for heating. If we buy Venezuela heavy crude, it is because it is cheaper than extracting the same grade from our own soil, then processing that into something useful.

First the oil is crap and dirty now its only 400 million really!!!!!!!!!!!

Well if you think $400 million is a joke, why don't you write a cheque and tell the Venezuelans to duck off, but until that happens a simple thank you would have been suffice.

The contrast between the values displayed by the American and Venezuelan governments – the “good guys” and “bad guys,” respectively, of the American political consensus – could not be more striking.
$1.2 billion will be cut from LIHEAP, reducing its budget to $3.47 billion. Thankfully the initial requests of the Obama administration to cut the program’s funding to $2.5 billion were not carried out. In 2011, 8.3 million people were helped by LIHEAP, although there were more people eligible than the program was able to assist. According to the National Energy Assistance Director’s Association (NEADA) 90% of families participating in the program contain at least one “vulnerable” member, defined as the elderly, children, and the disabled.

 

[Schutz]

They should probably stop giving away their oil for virtually nothing to their citizens who then cross borders and sell it.

 

[mike2000 is back]

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!

Ahahahhahaha...... you are a funny one. I like your humor..However you are right, i myself have been to some latin america countries like Brazil, Mexico, Argentina(though i havent been to Venezuela yet) i can testify they have the most beautiful girls in the world by quite a margin, amd believe me i have travelled the world.

Guess this is the perfect time to pay a visit to venezuela.

 

[FaujHistorian]

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!

Bhai Audio

your volume and pitch has been set just right.

hahahah