Often I hear and read about the crises in the European Union, Ukraine, Russia, or Japan, but rarely hear about the unrest and crisis in Arabian monarchies, Venezuela, and the host of other oil exporting nations devastated by the crude oil price collapse. The major banks (institutional investors) would be excited at the feast of defaults as they claim ownership of public assets such as utility plants, manufacturing and infrastructure of impoverished nations, such as Venezuela and others. The governments in the world face a Sovereign Debt Crisis.
“It is not a Accident, it is Policy“.
That is how a “managed” global collapse would play out for the banksters benefit.
Everything is connected in this global Ponzi Economy and the People are facing government abuse.
Of course a military conflict would be even more profitable and icing on the money masters’ cake to implement and enforce their agreements, rules and policies while simultaneously war profiteering… ~Ron
China Plays Wildcard in Bets on Venezuela Bond Default
For debt investors betting Venezuela will default this year as oil slumps, there is one big wildcard that threatens to sink the trade: China.
The Asian nation, whose $3.9 trillion in foreign reserves are the world’s largest, has a history of lending out money to Venezuela, having doled out $45 billion over the past decade. […]
When President Nicolas Maduro headed out on an overseas trip last week in search of cash to shore up the reeling economy and help stave off default, China was his first stop. He spent four days there and left saying he had won pledges for $20 billion in new investment. Maduro needs money fast as the six-month, 56 percent plunge in oil has derivatives traders betting there’s a 75 percent chance that Venezuela will default in a year and 97 percent probability that it will happen within five years. –bloomberg.com
Venezuela Just Had A ‘Let Them Eat Cake’ Moment
Speaking on a visit to Doha on Monday, President Nicolas Maduro stuck to the party line, blaming oil’s ruinous price plunge on the global capitalism “of the north.”
“The capitalism of the world of the north is trying to destroy OPEC, to control sources of energy, to destroy the just prices that we need and have been assimilated by the entire world,” said Maduro.
Read more: businessinsider.com
Venezuelan President Nicolas Maduro met Saudi Arabia’s Crown Prince Salman in Riyadh on Sunday as part of a diplomatic tour of OPEC members to discuss falling oil prices, which have hit its economy hard.
The Saudi side in the meeting included Oil Minister Ali al-Naimi and several princes including Deputy Crown Prince Muqrin, intelligence chief Prince Khaled bin Bandar and three sons of King Abdullah, who is in hospital, state media reported.
The Venezuelan government said in a statement that “we agreed to work to recover the market and oil prices with state policies between the two energy powerhouses.” It provided no details.
Despite growing concern from Venezuela and other OPEC members such as Iran, OPEC delegates have said as recently as last week that the group’s core Gulf members remain committed to their decision not to curb output for now, choosing instead to defend market share and allow lower prices to slow output from growing rivals such as Canada’s oil sands and U.S. shale.
On Saturday fellow OPEC price hawk Iran said it would help cash-strapped Venezuela stem the price fall.
Maduro’ next stop will be in Qatar, followed by a visit to Algeria. –theglobeandmail.com