Venezuela continues to defy western financial attack by never knelling to western banks seeking to profit on the agony of its citizens. Goldman Sachs is betting on the current low priced state oil firm stocks, while the other arm of the Deep State is doing all it can to put in power Venezuelan opposition parties under its thumb.
Venezuela threatens to stop Goldman Sachs from making ‘a quick buck’ off its suffering people
RT | 30 May, 2017 09:51
The leader of Venezuela’s National Assembly has said the country might refuse to repay $2.8 billion for bonds that Goldman Sachs recently bought from the country’s central bank.
“It is apparent Goldman Sachs decided to make a quick buck off the suffering of the Venezuelan people,” Julio Borges, the leader of the opposition-controlled Congress, said in a letter to Goldman CEO Lloyd Blankfein.
“Given the irregular nature of this transaction and the absurd financial terms involved that are to the detriment of Venezuela and its people, the National Assembly will soon launch an investigation into the matter. I also intend to recommend to any future democratic government of Venezuela not to recognize or pay on these bonds,” Borges wrote.
Last week Goldman Sachs bought around $2.8 billion worth of bonds issued by Venezuela’s state oil firm PDVSA, betting its investment could more than double if the opposition comes into power, The Wall Street Journal reported on Sunday.
The report claimed Goldman paid $0.31 on the dollar, or around $865 million, for bonds PDVSA issued in 2014 and mature in 2022.
Goldman replied it had bought the bonds not from the government, but on the secondary market from a broker.
“We are invested in PDVSA bonds because, like many in the asset management industry, we believe the situation in the country must improve over time,” Goldman told CNBC.
“Many investors make similar investments daily through mutual funds, index funds and ETFs which also hold PDVSA bonds. We recognize the situation is complex and evolving and that Venezuela is in crisis. We agree that life there has to get better, and we made the investment in part because we believe it will,” the bank added.
The printing and regulation of money should be under the full control of the government that is fully accountable to the people. Unfortunately, that is the illusion which prevent the people from doing something about their miserable plight.
Reblogged this on The Most Revolutionary Act and commented:
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Venezuela threatens to stop Goldman Sachs from making ‘a quick buck’ off its suffering peopl
I mean why should big companies profit at the expense of ordinary people?
Who can really help the common people so that they can live decent lives? Why are there people in this world who think it is all right to accumulate riches at the expense of ordinary people?
They are called Jews Say no more, read the Talmud, wake up!
Although I have NO kind regard for GS, objectively, they are practicing classic “crisis investment”. The real guilty party here is the seller of the PDVSA bonds who are selling Venezuela assets on the cheap, and the government which took those assets out of private control to make the transaction possible.
Could GS and other US/British companies have been responsible for the current crisis of Venezuela? Purposely financially backing a coup to oust the current administration thus knowing full well that once the current government are expelled, they can then put their puppets in and continue the drain of financial resources from this already poor country.
Why does a country that is positioned just south of the equator lack food for its population. Where is the current crop produce going? Is the crop being produced to pay off its IMF/WB loans – thus the crop itself will be a desired crop of the backing banks – it will be stipulated. Does this serve a purpose in more than one way – I think yes.
Of course they have, Shaple:
Going back to 2002 and the attempted military coup against Venezuela’s democratically elected government, we can see that the backers were as follows:
FEDECAMARAS – Venezuela’s Chamber of Commerce, led by Pedro Carmona, the right-wing oligarchs who was to be installed by fascist factions of the Venezuelan military and their supporters.
The Red Flag Party – Neo-Stalinist, anti-revisionist garbage. Stalin and his clique were brought to power by the machinations of the Rothschilds, the Black Nobility, and the American and European economic elite because Lenin and Trotsky had decided to abandon the Gold Standard. Stalin’s dictatorship reversed a lot of progressive, humanitarian reforms implemented by the Bolsheviks in the early years following the Russian Revolution.Stalin’s emulators, particularly Ceausescu and the Kim Dynasty, were even worse. Given that Stalin was a Russian chauvinist and a vehement antisemite while the Soviet Union’s politicized Jews, particularly within the Bolshevik Party, were mostly allies of Leon Trotsky, this should put to rest any myth that attacks against the Rothschilds and against the Khazarian Mafia are rooted in antisemitism.
Accion Democratia/Confederación de Trabajadores de Venezuela/Socialist International (SI) – CTV is the trade union ally of Accion Democratica, a corrupt, pseudo-socialist political party in favour of a harsh CIA/Washington-supported austerity agenda. Accion Democratica is a Socialist International affiliate. The Socialist International is about as socialist as Donald Trump and is run by a corrupt cadre of careerists consisting primarily of people who advocate neoliberal economics and neoconservative PNAC foreign policty. It has also counted the likes of military dictator Hosni Mubarak, Opus Dei-affiliated warmonger Tony Blair, and misogynistic tyrant Daniel Ortega among the heads of government or state that have brought SI factions to government. As a member of Canada’s New Democratic Party, my party’s affiliation with the Socialist International is a major sore point with me and I would favour our moving into a relationship with the Justice Democrats, MORENA, and the various populist socialist democratic and liberal parties that have emerged outside out of the SI in Latin American and Europe.
Corporate Media – No shit, Sherlock. Virtually every major privately-held media outlet in Venezuela was opposed to the Bolivarian government and the founding of the Fifth Republic.
CIA – Just like in Guatemala and Chile. 😦
Hugo Chavez’s 1998 election will eventually be remembered as a watershed moment in geopolitics rivaling the fall of the Berlin Wall.
Chavez, Maduro, and their allies have made a lot of mistakes, but they alone are not to blame for Venezuela’s social and economic problems.
Shit, I mean, Lenin and Trotsky decided to go back to the Gold Standard after a failed experiment with fiat money.
I’m cheering for Venezuela. Don’t pay, guys!!