Venezuela troubles (currency, economy and potential FAFO)

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You see a lot claims that Venezuela has nothing to do with drugs because most of the fentanyl comes from elsewhere. I want to address this:

First off, fentanyl isn't the only drug in the world and there is still fentanyl coming from Venezuela (or at least there was).

Second, cocaine, which is the main drug trafficked out of Venezuela, is a profit center for all of the Latin America cartels. If you cut out the money from cocaine (or even reduce it) you substantially weaken the cartels overall. Also, cocaine is bad too!

Third, yes, a lot of fentanyl is coming out of Mexico. That continues to be a focus of our policy in Mexico and is a reason why President Trump shut the border on day one.

Fourth, I see a lot of criticism about oil. About 20 years ago, Venezuela expropriated American oil property and until recently used that stolen property to get rich and fund their narcoterrorist activities. I understand the anxiety over the use of military force, but are we just supposed to allow a communist to steal our stuff in our hemisphere and do nothing? Great powers don't act like that.

The United States, thanks to President Trump's leadership, is a great power again. Everyone should take note.
 
CLINTON-APPOINTED JUDGE WILL PRESIDE OVER MADURO'S NY TRIAL

Alvin Hellerstein is a 92-year-old Orthodox Jewish federal judge tapped by Bill Clinton back in 1998.

He is set to oversee the high-stakes trial of ousted Venezuelan leader Maduro in New York.

Hellerstein's no stranger to big cases, having handled everything from 9/11 lawsuits to Trump Org stuff.

He's front and center for Maduro's narco-terrorism charges stemming from that 2020 indictment.

With Maduro nabbed, this assignment drops as the world watches how justice plays out stateside.

Source:
@AlertaMundoNews
 
Thanks for these posts Goldhedge. Lots of very interesting stuff here. I spend a fair amount of time on X. A lot of stuff hasn't been adding up but these posts are,...... maybe........ bringing some things into focus.
 
chieftain said:
Maduro has dirt on the criminals, they had to get him and silence him.

Question, who didn't own the Venezuelan central bank...?
Click to expand...
REMEMBER when Maduro said that cartel money is laundered through the US banking system? $500 BILLION annually

video
 
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Michael Burry’s big play off the U.S.-Venezuela situation, which the investor has held for years​

  • Michael Burry, known for “The Big Short,” said he has owned Valero Energy since 2020. He views the position as being increasingly attractive as the U.S. prepares to take a role in reviving Venezuela’s oil industry.
  • The investor’s comments come after President Donald Trump called on U.S. oil companies to invest in Venezuela following the overthrow of President Nicolás Maduro.
  • Analysts on Wall Street have been highlighting Valero as a key beneficiary if Venezuelan supply increases, as the company can process heavy crude.
Michael Burry’s quiet bet on Venezuelan oil is coming back into focus.

The investor best known for “The Big Short” said he has owned Valero Energy since 2020, a position he views as increasingly attractive as the U.S. moves toward a deeper role in reviving Venezuela’s oil industry.

“Realize that many Gulf Coast refineries were purpose-built for Venezuelan heavy crude,” Burry wrote in a Monday blog post on Substack. “So they have been running with suboptimal feedstock for years. This will, in time, produce better margins across jet fuel, asphalt, and diesel ... I have owned Valero since 2020, and I am more resolved to holding it even longer after this weekend.”

More:

 

What the Big Oil executives told Trump about investing in Venezuela​

  • The CEOs ExxonMobil and ConocoPhillips told President Donald Trump that Venezuela will need big changes to attract investment.
  • Exxon CEO Darren Woods said Venezuela is “uninvestable” in the country’s current state.
  • ConocoPhillips CEO Ryan Lance said the country’s energy system needs to be restructured.
  • Chevron is ready to quickly ramp up production.
Leading U.S. oil executives told President Donald Trump at the White House on Friday that Venezuela will need major reforms to attract investment.

Trump said Friday the industry would invest at least $100 billion to rebuild Venezuela’s energy sector with U.S. security guarantees. But the CEOs of big oil companies like ExxonMobil and ConocoPhillips did not commit at the meeting to quickly re-enter Venezuela.

Exxon CEO Darren Woods told Trump that the Venezuelan market is “uninvestable” in its current state. Venezuela seized Exxon’s and Conoco’s assets in 2007, and Caracas owes the companies billions of dollars in outstanding claims from arbitration cases.

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And Trump stealing oiltankers is just going to drive oil prices down, plus any oil men going into Venezuela will be murdered most likely.
 
FYI there is more Venezuela earthquake news here"

Post in thread 'Disasters - Hurricanes, Tornados, Earthquakes et al'

Thousands feared dead after two major earthquakes strike Venezuela​

CARACAS, June 25 (Reuters) - Thousands of Venezuelans were feared dead on Thursday after two powerful earthquakes wreaked havoc in and around the capital Caracas, trapping people beneath the rubble of collapsed buildings and setting off powerful aftershocks.

At least 32 people were confirmed dead and 700 injured after a magnitude 7.2 earthquake hit about 160 km (100 miles) west of Caracas, followed less than a minute later by a magnitude 7.5 tremor, according to the U.S. Geological Survey.

More...
 
7.2 and 7.5 earthquakes are no bullshit earthquakes, not going to blame the government when earthquakes seldom hit.
 
US will use it as collateral (never to be returned) for loans and foreign aid.
 
Did we ever give iraq its gold back or Haiti, or any of the other places whose gold we stole...
 

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Thirty tons of Venezuelan gold, a bargaining chip between Chavismo and the opposition

The US will oversee the use of the Bank of England funds, equivalent to $4 billion, if the opposition and the government reach a pact with guarantees
english.elpais.com
 
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