Venezuela is undergoing massive financial pressure as they have once again defaulted on more debt. We know where this is headed and unfortunately, it’s not looking good. The country is quickly spiralling downward in an abyss from which it will never recover.
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Sources Used in This Video:
https://goo.gl/UpprQe
Venezuela Misses Another Debt Payment, Raising Stakes for Bondholders - WSJ
https://www.wsj.com/articles/venezuela-misses-another-debt-payment-raising-stakes-for-bondholders-1514933217
OPEC : OPEC Share of World Crude Oil Reserves
http://www.opec.org/opec_web/en/data_graphs/330.htm
Cuba takes over Venezuela stake in refinery joint venture
https://www.reuters.com/article/cuba-venezuela/cuba-takes-over-venezuela-stake-in-refinery-joint-venture-idUSL8N1OE79H
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As far as I'm concerned, Venezuela is bankrupt. There's no way out of this through natural market forces.
Who do you think will come to their rescue? The IMF? China? Russia? Or will there be a coup?
Tuff times for sure. the mess in Venezuela keeps getting worse.
It's terrible right now and I'm sure we're only hearing a fraction of what's going on.
I agree. and most info we are hearing seems filtered, from all sides. Hopefully their citizens will overcome.
With sites like Steemit, maybe we have a chance. So far it's been great. And this is just the beginning too.
my wild guess is there will be a coup. else it will be chaos all over Venezuela. people will lose their confidence in their government and there will be a power struggle.
Normally I wouldn't be in favour of a coup but with this impending doom scenario in Venezuela, maybe it would be of some benefit.
This has already been happening for years. Remember the daily protests where people were fighting back against the regime? People were tear gassed and shot, and they were in the thousands. Their currency is dead, and those who are making it on top likely won't be able to smuggle in tanks and helicopters to take the government back.
Good point. I'm very surprised this has concluded yet.