I’ve Seen This Before in Venezuela

An immigrant from Venezuela warns us that what we are seeing today, with toppling statues, defunding police, and other anti-American actions by the far left are a warning. She saw this happen in her native Venezuela before that country went down the drain.  –Bob

2020 Vision

By USAGOLD – Re-Blogged From Gold Eagle

Five charts to contemplate as we prepare for the New Year

 1. Gold’s annual returns 2000 to present

In the February edition of this newsletter, we ran an article under the headline:  Will 2019 be the year of the big breakout for gold? Though we would not characterize gold’s move to the upside so far this year as ‘the big breakout,’ 2019 has been the best year for gold since 2010 even with the recent correction taken into account.  Back in September when the price gold reached $1550 per ounce – up almost 22% on the year – 2019 was looking more like a breakout year. Now with the move back to the $1460 level, the market mood has become more restrained. As it is, gold is up 15 of the last 19 years and still up 14.45% so far this year.

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Weekly Climate and Energy News Roundup #376

The Week That Was: September 14, 2019, Brought to You by www.SEPP.org

By Ken Haapala, President, The Science and Environmental Policy Project

Quote of the Week – “If by the liberty of the press were understood merely the liberty of discussing the propriety of public measures and political opinions, let us have as much of it as you please: But if it means the liberty of affronting, calumniating and defaming one another, I, for my part, own myself willing to part with my share of it.” —Benjamin Franklin (1789)

Number of the Week: UP 24%


 

Climate Model Issues – Greenhouse Feedbacks: Prior to the 1979 Charney Report, numerous laboratory experiments established that a doubling of carbon dioxide (CO2) would cause a modest increase in global temperatures, nothing of great concern. The Charney Report states that advocates of global climate models, mainly NASA-GISS and NOAA’s Geophysical Fluid Dynamics Laboratory at Princeton advocated that a positive feedback, mainly from water vapor from the oceans would result in a far greater warming, which was estimated to be 3º C plus or minus 1.5º C. The last paragraph of the report, Section 4 – Models and Their Validity states:

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The Third World Is Imploding

In this interview with Maurice Jackson of Proven and Probable, Jayant Bhandari presents his world view and discusses how it meshes with investment in the precious metals markets.

Maurice Jackson: Joining us for a conversation is Jayant Bhandari, the founder of the world-renowned Capitalism and Morality seminar, and a highly sought-out advisor to institutional investors. Mr. Bhandari, welcome to the show, sir.

Jayant Bhandari: Thank you very much for having me, Maurice.

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Trump Admin Weighs Options in Venezuela, Including Military

By Franco Ordoñez and Tara Copp, McClatchy – Re-Blogged From Liberty Headlines

‘All options are comprehensive but there is a lot of water nearby…’

Venezuela Offers Free Return Flights to Citizens Who Fled Socialism

Venezuelan President Nicolas Maduro (CC)

In the aftermath of a faltering opposition uprising in Venezuela, the Trump administration is looking at imposing new individual sanctions against the Maduro government and also scrambling for ideas that can have a greater impact on the ground, including military options.

The White House is calling for relevant departments to produce more options for the president to consider on Venezuela. The National Security Council is pushing the Defense Department for military ideas, and Secretary of State Mike Pompeo is seeking ways to entice Russia to pull away from Venezuelan leader Nicolas Maduro.

 

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Venezuela’s Guaido Says Troops Join Him to Oust Maduro

Venezuelan opposition leader Juan Guaido said on Tuesday he had begun the “final phase” of his plan to oust President Nicolas Maduro, calling on Venezuelans and the military to back him to end Maduro’s “usurpation.”

A Reuters journalist later saw security forces firing tear gas at Guaido and around 70 mostly young armed men in military uniform outside the La Carlota air force base in Caracas. Hundreds of civilians also joined the group.

But around two hours after Guaido tweeted his announcement, there was no sign of any other military activity, and the government dismissed any suggestion of an insurrection.

Ivan Alvarado/Reuters

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Venezuela Returns to ‘Middle Ages’ During Power Outages

By Maria Lorente – Re-Blogged From Yahoo!

Walking for hours, making oil lamps, bearing water. For Venezuelans today, suffering under a new nationwide blackout that has lasted days, it’s like being thrown back to life centuries ago.

El Avila, a mountain that towers over Caracas, has become a place where families gather with buckets and jugs to fill up with water, wash dishes and scrub clothes. The taps in their homes are dry from lack of electricity to the city’s water pumps.

A man carries drums with water he collected from a stream at the Wuaraira Repano mountain, also called El Avila, in Caracas

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US Pulling Last Diplomats from Venezuela Amid Power Crisis

By The Associated Press – Re-Blogged From Newsmax

The U.S. said late Monday that it is pulling its last remaining diplomats from Venezuela, saying their continued presence at the country’s embassy in Caracas had become a “constraint” on U.S. policy as the Trump administration aggressively looks to oust socialist President Nicolas Maduro.

The announcement came from Secretary of State Mike Pompeo in a tweet shortly before midnight comes as Venezuela struggles to restore electricity following four days of blackouts around the country.

The U.S. has led an international effort to replace Maduro with opposition leader Juan Guaido, who vows to hold a new presidential election. Guaido is backed by some 50 countries, while Maduro maintains support from countries such as China, Russia and Cuba.

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Wall Street is Chasing Ghosts

By Michael Pento – Re-Blogged From Pento Portfolio Strategies

Wall Street’s absolute obsession with the soon to be announced most wonderful trade deal with China is mind-boggling. The cheerleaders that haunt main stream financial media don’t even care what kind of deal gets done. They don’t care if it hurts the already faltering condition of China’s economy or even if it does little to improve the chronically massive US trade deficits—just as long as both sides can spin it as a victory and return to the status quo all will be fine.

But let’s look at some facts that contradict this assumption. The problems with China are structural and have very little if anything to do with a trade war. To prove this let’s first look at the main stock market in China called the Shanghai Composite Index. This index peaked at over 5,100 in the summer of 2015. It began last year at 3,550. But today is trading at just 2,720. From its peak in 2015 to the day the trade war began on July 6th of 2018, the index fell by 47%. Therefore, it is silly to blame China’s issues on trade alone. The real issue with China is debt. In 2007 its debt was $7 trillion, and it has skyrocketed to $40 trillion today. It is the most unbalanced and unproductive pile of debt dung the world has ever seen, and it was built in record time by an edict from the communist state.

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Weekly Climate and Energy News Roundup #347

The Week That Was: February 9, 2019, Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Quote of the Week:On specific energy and climate issues I’m guided by what the data tell me, not by claims made in the scientific literature. This is why you will find me disagreeing with most of the ‘consensus’ views on climate change but not all of them. My main concern for the future of my three grandchildren isn’t climate change, but that the misguided efforts of the people who want to save the world from it will leave them freezing in the dark.” – Roger Andrews, RIP.

Number of the Week: 1.4 million barrels per day (b/d)

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Venezuelan Socialists On Track to Eliminate Their Nation’s Oil Industry

By Eric Worrall – Re-Blogged From WUWT

Despite oil accounting for a whopping 90% of Venezuela’s export earnings, President Maduro, a fervent supporter of the Paris Agreement, has courageously put principle before profits by implementing his version of a new green deal. Maduro has eliminated the capitalist exploiters from his nation’s oil industry, and replaced them with loyal army officers who are rapidly dismantling the infrastructure left behind by the capitalists.

Soldiers are taking over Venezuela’s oil industry, and the country with the world’s biggest oil reserves is falling further behind

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Weekly Climate and Energy News Roundup #341

Brought to You by www.SEPP.org, The Science and Environmental Policy Project

By Ken Haapala, President

Quote of the Week: “On what principle is it that with nothing but improvement behind us, we are to expect nothing but deterioration before us?” – Lord Macaulay, [H/t Matt Ridley]

Number of the Week: Up to a 50% increase in efficiency?On to Chile: Some seem to be disappointed with the outcome of the 24th Conference of Parties (COP-24) of the United Nations Framework Convention on Climate Change (UNFCCC) in Katowice, Poland, in a coal mining district. Rather than adopting hard, fast rules for the implementation of the Paris Agreement, the delegates adopted vague generalities and promised to do more. Reading through the “bureaucratic speak,” of the concluding remarks by the UN Secretary General, António Guterres, read by Patricia Espinosa, Executive Secretary of the UNFCCC, the stated goals were not accomplished. The Secretary General wrote:

“I’d first like to thank the Presidency of the COP for the enormous efforts it deployed to organize this 24th session in Katowice, Poland.

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“Weekly Climate and Energy News Roundup #338

Brought to You by www.SEPP.org, The Science and Environmental Policy Project

By Ken Haapala, President

Quote of the Week: “There is a principle which is a bar against all information, which is proof against all arguments and which cannot fail to keep a man in everlasting ignorance – that principle is contempt prior to investigation.”— Herbert Spencer [H/t William Readdy]

Number of the Week: 42 Billion barrels

Old Science v. New “Evidence Free Science”: SEPP Chairman emeritus Fred Singer is “old school.” He does not make predictions until the facts are gathered, the evidence. Perhaps it was because he began his long professional career by using high altitude rockets to gather evidence about the atmosphere including measuring the energy spectrum of primary cosmic rays; the distribution of stratospheric ozone; the equatorial electrojet current flowing in the ionosphere and publishing the first studies on subatomic particles trapped in the Earth’s magnetic field: radiation belts, later discovered by James Van Allen.

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Weekly Climate and Energy News Roundup #336

Brought to You by www.SEPP.org, The Science and Environmental Policy Project

By Ken Haapala, President

Quote of the Week: “I have observed that not the man who hopes when others despair, but the man who despairs when others hope, is admired by a large class of persons as a sage.” ― John Stuart Mill [H/t Matt Ridley]

Number of the Week: $1,096/MWh – An increase of 22 times

USGCRP Prophecies: On November 23, the US Global Change Research Program (USGCRP) released the second volume of its two-part series on human caused global warming. The first volume. the “Climate Science Special Report (CSSR)” supposedly discussed the physical science but was largely confined to projections from poorly tested global climate models and physical events unrelated to increasing carbon dioxide. The current release came in time for the upcoming 24th Conference of Parties (COP-24) of the UN Framework Convention on Climate Change (UNFCCC) in Katowice Poland. According to official announcements, this conference will additionally include “the 14th session of the Conference of the Parties serving as the Meeting of the Parties to the Kyoto Protocol (CMP) and the third part of the first session of the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement (CMA 1-3)” – international bureaucratic science at its best.

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Texas Oil Surge Threatens OPEC

By Bloomberg – Re-Blogged From Newsmax

The map lays out OPEC’s nightmare in graphic form.

An infestation of dots, thousands of them, represent oil wells in the Permian basin of West Texas and a slice of New Mexico. In less than a decade, U.S. companies have drilled 114,000. Many of them would turn a profit even with crude prices as low as $30 a barrel.

OPEC’s bad dream only deepens next year, when Permian producers expect to iron out distribution snags that will add three pipelines and as much as 2 million barrels of oil a day.

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Venezuelan Crisis Bringing Back Major Diseases Thought Long Gone

By Kathy Burke – Re-Blogged From Newsmax

Contagion from Venezuela’s economic meltdown is literally spreading to neighboring nations — in the form of potentially deadly diseases among millions of refugees, The Wall Street Journal reported.

Medical officials in Brazil, Colombia and Venezuela told the news outlet the collapse of Venezuela’s health system has turned the country into an incubator for malaria, yellow fever, diphtheria, dengue and tuberculosis, as well as the virus that causes AIDS.

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80 Percent of Venezuelans Short of Food

By Ben Kew – Re-Blogged From Breitbart

Around 80 percent of Venezuelans are now short of food, according to the new data compiled by NGO Human Rights Watch on Tuesday.

Following a trip to the Venezuelan border with Brazil by a team of health experts from John Hopkins University, researchers found that malnutrition continues to rise aggressively, with 80 percent of households unable to access enough food and rates of malnutrition among five years now over the World Health Organization’s crisis limit. In 2017, the average person lost around 11 kilos (24 pounds). In 2016, that number was 19 pounds; it is expected to have risen in 2018.

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Weekly Climate and Energy News Roundup #334

Brought to You by www.SEPP.org, The Science and Environmental Policy Project

By Ken Haapala, President

Importance of Clouds: MIT Sloan Professor of Meteorology emeritus Richard Lindzen wrote TWTW stating that, in the past weeks, TWTW may have underemphasized the importance of clouds and overemphasized water vapor in their roles of causing climate change. Perhaps TWTW did because the role of El Niños in influencing atmospheric temperatures trends can easily be seen by looking at a graph of the entire record since December 1978. El Niños put a lot of water vapor into the air and temperatures peak quickly, then fall slowly as the moisture drops out. The influence is particularly strong in the Arctic, where there is little water vapor in the atmosphere. But the El Niño influence is not strong in the dry Antarctic, for reasons not clear.

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End Of The World (Part 1)

By Gary Christenson  -Re-Blogged From Gold Eagle

Predicting the end of the world, physical or financial, is seldom helpful. If the prediction is correct, how do you profit from the insight? If the prediction is wrong and the “end of the world” is delayed (typical), you lose credibility.

An estimate of risk versus reward based on an analysis of current information is more useful.

Assessment: The 2018-2020 risk for most asset classes, such as stocks, bonds, corporate debt, and real estate is high while the potential reward in those asset classes is low. Gold and silver are opposite. Their long-term risk is low (September 2018) and their long-term potential reward is huge.

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OPEC, Allies Struggle to Fully Deliver Pledged Oil Output Boost

By Thomson Reuters – Re-Blogged From Newsmax

OPEC is struggling to add barrels to the market after agreeing in June to increase output, an internal document seen by Reuters showed, as an increase in Saudi Arabia was offset by declines in Iran, Venezuela and Angola.

The Organization of the Petroleum Exporting Countries and allies agreed in June to boost supply as U.S. President Donald Trump urged producers to offset losses caused by sanctions on Iran and to dampen rising prices.

opec in capital blue letters ato four black barrels on white background

Inflationary Insolvency Will Make Gold And Silver Prices Explode

By John Rubino – Re-Blogged From Gold Eagle

What happens to gold and silver prices when the Fed “goes all in” during the next financial crisis?

Money manager Michael Pento says, “They are going to explode when the stock markets melt down and deficits are rising where is the money going to come from?

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Immigrant Population Hits 107-Year High

By Joshua Paladino – Re-Blogged From Liberty Headlines

Some of the largest immigration expansions, as a percentage, between 2010 and 2017 came from war-torn or economically struggling countries…

Asylum Seekers Keep Coming Despite Immigration Law Enforcement

As of July 2017, immigrants —legal and illegal — compose the highest percentage of the U.S. population that they have since 1910.

About one in seven current U.S. residents — 44.5 million — emigrated from a foreign country, according to a study conducted by the Center for Immigration Studies.

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A Submerging Global Economy

By Egon von Greyerz – Re-Blogged From Gold Eagle

Many emerging markets are now turning to submerging markets as country after country is experiencing falling economies, currencies and stock markets.

The currency is often the best indication of a country’s economic health. Just look at these six currencies submerging into obscurity:

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Saving Venezuela

   By Bob Shapiro

Venezuela used to be a relatively rich country. Today, it has a nominal GDP around $100 Billion, a population around 32 million, a labor force of 14 million, and unemployment over 30%. GDP fell last year by 14%, and inflation is so high that official statistic are meaningless. 87% of the population is described as living below the poverty line.

Through the many recent years of socialism in Venezuela, the government has racked up deficits and debt that defy reality. With recent low oil prices, and government mismanagement of the industry, revenues have fallen so much that, if the Central Bank didn’t print money with wild abandon, the government would have had to declare bankruptcy long ago.

Image result for venezuela

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Turkey Is Not Contained

By Michael Pento – Re-Blogged From Silver Phoenix

During my last appearance on CNBC, before I was banned several years ago, I warned that the removal of massive and unprecedented monetary stimuli from global central banks would have to be done in a coordinated fashion. Otherwise, there would be the very real risk of currency and debt crises around the world.

However, coordination among central banks is not what is happening. The Fed is miles ahead in its reversal of monetary stimulus, as it has already raised rates seven times; with two more 25bps rate hikes in the pipeline scheduled for later this year. It has also avowed to sell off two trillion dollars’ worth of debt off its balance sheet–while the rest of the world’s central banks are far behind in this monetary tightening course. This has led to a significant increase in the value of the US dollar.

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The Cash it Takes to go Shopping in Failing Socialist Venezuela

By Reuters – Re-Blogged From IJR

Jittery Venezuelans on Friday rushed to shops and lined up at gas stations on concerns that a monetary overhaul to lop off five zeros from prices in response to hyperinflation could wreak financial havoc and make basic commerce impossible.

The Wider Image: Venezuelans rush to shops before monetary overhaul

Anatomy Of Hyperinflation

By Michael Pento – Re-Blogged From Silver Phoenix

Two drones filled with explosives were recently deployed in a failed assassination attempt to take out Venezuelan President Nicolas Maduro. Chaos filled the streets as the military ran for their lives. But this sort of pandemonium is commonplace in Venezuela today: Where citizens have run out of basic necessities such as toilet paper and have begun eating their pets in order to stay alive. The mainstream Keynesian-brainwashed media doesn’t talk much about Venezuela or hyperinflation; perhaps because they are viscerally aware that the seeds of intractable inflation on a worldwide basis have already been sown by the global elites–and they don’t want to frighten you.

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Price Of Gold In Venezuela

By Frank Holmes – Re-Blogged From http://www.Gold-Eagle.com

Last month in Venezuela’s capital city of Caracas, a cup of coffee would have set you back 2 million bolivars. That’s up from only 2,300 bolivars 12 months ago, meaning the price of a cup of coffee has jumped nearly 87,000 percent, according to Bloomberg’s Café Con Leche Index. And you thought Starbucks was expensive!

But that was July. Prices in Venezuela are doubling roughly every 18 days. The International Monetary Fund (IMF) now projects inflation to hit an astronomical 1 million percent by the end of this year. This puts the beleaguered Latin American country on the same slippery path as Zimbabwe a decade ago and Germany in the 1920s, when a wheelbarrow full of marks was barely enough to get you a loaf of bread.

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Weekly Climate and Energy News Roundup #324

Brought to You by www.SEPP.org The Science and Environmental Policy Project

By Ken Haapala, President

Group Think-Bureaucratic Science: Last week’s TWTW discussed Judith Curry’s review of a rather remarkable paper by retired MIT professor Carl Wunsch, who participated in 1979 report “Carbon Dioxide and Climate: A Scientific Assessment,” headed by Jule Charney. The findings in Charney Report have become the core reasoning for the UN Intergovernmental Panel on Climate Change (IPCC), the US Global Change Research Program (USGCRP), and many US government actions, including the EPA’s illogical finding that carbon dioxide endangers human health and welfare.

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Commodities Halftime Report 2018

By Frank Holmes – Re0-Blogged From http://www.Silver-Phoenix500.com

Near the beginning of the year, Goldman Sachs analyst Jeffrey Currie made the case that the macro backdrop right now favored commodities in 2018. With inflation pushing prices up and world economies borrowing record amounts of capital, it was the best time “in decades,” he said, for investors to have exposure to base metals, energy and other materials.

“Commodities had a miserable year” in 2017, Currie told CNBC. “History says commodities will outperform equities this year.”

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Why The Global Collapse Will Be Devastating

By Egon von Greyerz – Re-Blogged From King World News

As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies, told King World News there is no way out and this is why the global collapse will be devastating.

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Inflation: The People’s Enemy…The Government’s Friend

By David Smith – Re-Blogged From http://www.Gold-Eagle.com

We can argue about the definition(s) of inflation until the cows come home – To be sure some economists spend a career trying to nail it down.

But for clarity’s sake, we’ll use the definition of the Austrian School (Mises.org) as an increase in the money supply. This is really the correct one, regardless of any bias of dogma, “schooling” or the mainstream media. Although most everyone defines inflation as an increase in the price of goods and services, this is actually a result.

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Is Oil About To Become Front-Page News? “A Glut That Held Prices Down For Years Is Essentially Gone”

By John Rubino – Re-Blogged From Dollar Collapse

Here’s a new indicator for you: It seems that the difference between the price of oil here and abroad is a measure of tightness in the market, with a rising spread indicating higher prices in the future, with all the inflationary pressures that that implies. From today’s Wall Street Journal:

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Markets Unprepared For $80 Oil Shock

By James Puplava – Re-Blogged From http://www.Silver-Phoenix500.com

The summer driving season is just around the corner and this year motorists are facing steeper prices for fuel, up from an average of $2.19 a gallon in 2016 to $2.87 today. By this summer, analysts are projecting gas prices to top $3 a gallon on average for the first time in 10 years.

Listen to this podcast on our site by clicking here or subscribe on iTunes here.

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Argentina Joins Venezuela In The Currency Crisis Club

By John Rubino – Re-Blogged From Dollar Collapse

In interviews, whenever I try to make the case that US policies are leading to the kinds of currency disruptions common in developing countries, I say something like, “For a glimpse of America’s future, take a look at Argentina, where they’re eating cats and dogs because of hyperinflation … wait, no, I meant Venezuela.”

Mixing up countries kind of dilutes the power of the statement, but for some reason I can’t seem to help it.

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Comparing Homicide Rates to Gun Ownership

Bu Onan Coca – Re-Blogged From Freedom Outpost

If you keep an eye on the media these days, you may notice that whenever they talk about guns, they talk about “gun homicide” as well. As if these two figures are inextricably linked and tell the whole story of the gun debate.

It’s simply not so.

An interesting graph that appeared on Facebook reminded me of the lies the anti-gunners tell using cherry-picked crime stats.

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Venezuela’s Annual Inflation Rate Has Reached Over 4,000 Percent

By Sydney Jones – Re-Blogged From https://ijr.com

In 2017, Venezuela’s annual inflation rate rose to 4,068 percent, according to reports made by the opposition-led National Assembly.

According to The Wall Street Journal, the inflation rate has risen so rapidly that the government cannot print money fast enough to keep up with the demand. A U.S. dollar currently is worth more than 200,000 bolivars, the Venezuelan currency.

TOPSHOT-VENEZUELA-CRISIS-ECONOMY-PETRO

Federico Parra/AFP/Getty Images

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Deepening Crisis In Hyper-inflationary Venezuela And Zimbabwe

By Mark O’Byrne – Re-Blogged From http://www.Gold-Eagle.com

– Deepening Crisis In Hyper-inflationary Venezuela and Zimbabwe
– Real inflation in Zimbabwe is 313 percent annually and 112 percent on a monthly basis
– Venezuela’s new 100,000-bolivar note is worth less today than US$ 2.50
– Maduro announces plans to eliminate all physical cash
– Gold rises in response to ongoing crises

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Suddenly, “De-Dollarization” Is A Thing

By John Rubino – Re-Blogged From Dollar Collapse

For what seems like decades, other countries have been tiptoeing away from their dependence on the US dollar. China, Russia, and India have cut deals in which they agree to accept each others’ currencies for bi-lateral trade while Europe, obviously, designed the euro to be a reserve asset and international medium of exchange.

These were challenges to the dollar’s dominance, but they weren’t mortal threats.

What’s happening lately, however, is a lot more serious. It even has an ominous-sounding name: de-dollarization. Here’s an excerpt from a much longer article by “strategic risk consultant” F. William Engdahl:

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Oil Rich Venezuela Stops Accepting Dollars

By Mark O’Byrne – Re-Blogged From http://www.Silver-PHoenix500.com

  • President Maduro ‘ Venezuela will create a basket of currencies to free us from the dollar,”
  • Oil traders ordered to stop accepting U.S. dollar in exchange for crude oil
  • Order comes following calls from Russia and China to find alternatives to current reserve system
  • U.S. Dollar accounts for two-thirds of global trade
  • Venezuela has over ten-times more oil than United States
  • Super powers are gradually turning to gold to avoid using world’s main reserve currency
  • Are we seeing the beginning of the end for the U.S. dollar?

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Outlook For The Dollar Price Of Gold

By Alasdair Macleod – Re-Blogged From http://www.Gold-Eagle.com

Now that gold has become overbought on Comex, the price is vulnerable to being trashed, yet again, by the too-big-to-fail banks. It is a familiar operation in gold futures markets, where speculators buying contracts protect themselves with stop-losses. All the TBTF banks need is a pause in the speculator’s buying and a little good news (bad for gold). Ideally, the active contract will be running into maturity, so the speculators are forced to put up or shut up: in other words, sell the contract, roll it into another later maturity, or stand for delivery.

Bearing in mind these speculators are running highly leveraged positions, greed turns to fear on a sixpence. The TBTF banks will have supplied the speculators with their longs by going short. From the moment you go long, you are trapped in a trader’s version of Hotel California.

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Venezuela Vigilante Mobs: Your Country on Socialism

By Joe Scudder – Re-Blogged From Eagle Rising

Due to desperation caused by starvation, there are now Venezuelan vigilante mobs lynching accused thieves.

The story was published today at Yahoo News, but here’s another story about Venezuelan vigilante mobs posted by a French news program eight months ago.

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Children Are Starving To Death In Venezuela And Yemen

By Michael Snyder – Re-Blogged From Economic Collapse Blog

Venezuela and Yemen were both once very prosperous nations, but now parents are literally watching their children starve to death as the economies of both nations continue to utterly collapse.  Just like so many here in the United States, most of those living in Venezuela and Yemen would have called you completely crazy if you would have warned them that this was going to happen five years ago.  In particular, Venezuela has more proven oil reserves than almost anyone else on the planet, and so to most of their citizens it was unimaginable that things could ever get this bad.  But it has happened, and the collapse that has already begun in parts of South America, Africa and the Middle East will soon spread elsewhere.

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2017…The Year Of Monetary Revolution

By Andrew Hoffmann – Re-Blogged From http://www.Silver-Phoenix500.com

In the past month, I’ve espoused many beliefs of what 2017 will bring – deeming it to likely be a year of money printing and draconian government actions.  In fact, following an historic year of political, economic, and monetary change, the best possible description for what I anticipate in the next 12 months, is “monetary revolution.”  Which, in turn, may catalyze the most dramatic status quo changes of our lifetimes, for anyone born in the post-War era.

Never before has the world faced a man-made calamity of such enormity; partly because of policy – particularly the monetary type; but predominantly, procreation – as let’s face it, there is no way to economically manage 7.4 billion people, without the scourges of socialism, fascism, and communism forcing their way into the fold.  I mean, when the gold standard was abandoned in 1971, the global population was just 3.5 billion, so we have more than doubled the population in less than five decades.

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Socialist Venezuela is a Hellscape Right Now

After decades of authoritarian socialist policies and wealth redistribution, the country of Venezuela is collapsing.

Here are a few examples of how the financial system that Salon.com once called an “economic miracle” has deteriorated for the people forced to live under it.

1. If you live in Venezuela, government policies have made your money worthless.

After current President Nicholas Maduro seized control over monetary policy of the country, a steep and steady devaluation of the currency has taken place. According to CNN:

Socialist President Nicolas Maduro has touted the Bolivarian Revolution, started by his deceased predecessor Hugo Chavez, as a successful movement. The goal is to equally distribute wealth among all the country’s people. Maduro has continued massive public spending programs to appeal to the country’s poor.

But the bolivar’s implosion has only created more inequality. There’s a growing divide between Venezuelans who can pay to exchange bolivars for dollars and those who can’t.

Here is the rate of inflation for the Bolivar:

venezuela inflation_0

One Bolivar is now worth less than a penny.

2. The Venezuelan government does not have enough paper to even print money.

Image Credit: Juan Barreto/AFP/Getty Images

Venezuela is printing currency at an alarming rate, and the government is forced to outsource that printing to offshore companies. The financial site Zerohedge explains why:

“The central bank’s own printing presses in the industrial city of Maracay don’t have enough security paper and metal to print more than a small portion of the country’s bills, the people familiar with the matter said. Their difficulties stem from the same dollar shortages that have plagued Venezuela’s centralized economy, as the Maduro administration struggles to pay for imports of everything, including cancer medication, toilet paper and insect repellent to battle the mosquito-borne Zika virus.”

3. Grocery stores are barren wastelands.

Screen Shot 2016-05-24 at 7.57.56 PM

Government stores are open just two days a week and are only accessible with a valid ID that limits them to a certain number of products. Even with these restrictions, these stores look like barren wastelands. Venezuelans wait all day in line hoping to get their hands on basic goods like bread and milk.

4. A hamburger will cost you $170.

https://i0.wp.com/static.ijreview.com/wp-content/uploads/2016/05/GettyImages-512498654.jpg

Economic shortfall has officially made hamburgers a luxury in the country. What many Americans enjoy off the value menu at McDonald’s is now worth 1,700 Venezuelan dollars or $170, according to Yahoo.

5. People are hunting dogs, cats, and pigeons to eat.

The situation in Venezuela has gotten so severe that bakeries can’t even produce bread anymore. Empty store shelves coupled with hyperinflation has left the community turning to hunting down dogs, cats, and pigeons to survive.

6. Clean water=gold.

As if the crippling economic crisis wasn’t bad enough, the El Nino weather system has caused water levels to drop dramatically. With 60% of the country’s electricity powered by a hydroelectric plant, the country is in a desperate situation.

On top of that, many communities are faced with yellow water that is filled with dirt. Water trucks that carry clean water get robbed 2-3 times a week, leaving drinkable water hard to come by.

7. There’s a black market for milk.

Scarcity in the country has left people looking beyond their empty store shelves to get their necessities. One person described to Telegraph that they message someone using ‘Whatsapp’ when they want to buy milk. This person’s story is more common than you think. Milk is one of the most common items on the black market.

8. There’s no toilet paper.

In Venezuela, people wait in enormous lines, begging for toilet paper. In Venezuela, they don’t care if it’s 2-ply or 4-ply or if a cute bear family is on the wrapper. All they want is a roll.

When they get their hands on it, it’s like they struck gold. With Venezuelans searching up to two weeks for the product, even tourist hot-spot hotels are now asking guests to bring their own toilet paper.

9. Electricity is rationed.

Venezuela’s new 2 day workweek isn’t as glorious as it sounds. It’s actually the latest measure to cut back on power usage. Other measures include shutting off all power for at least four hours a day. Some of these blackouts last up to 12 hours, putting daily life on pause and leaving food to spoil.

10. If you become sick in Venezuela, you are in trouble.

The state of medical care in Venezuela is straight out of a horror movie, with a lack of supplies, clean beds and caregivers. Elderly and children are dying. Read this excerpt from a recent bombshell New York Times report:

The day had begun with the usual hazards: chronic shortages of antibiotics, intravenous solutions, even food. Then a blackout swept over the city, shutting down the respirators in the maternity ward.

Doctors kept ailing infants alive by pumping air into their lungs by hand for hours. By nightfall, four more newborns had died.

“The death of a baby is our daily bread,” said Dr. Osleidy Camejo, a surgeon in the nation’s capital, Caracas, referring to the toll from Venezuela’s collapsing hospitals.

People have turned to social media to find medicine.

 

Faced with a public health crisis, Venezuelans are desperately using the social media platform in a last-ditch effort to save their loved ones. Using the hashtag #ServicoPublico, they are reaching out to each other in search of pills, vaccines, and even blood transfusions.

11. Lawless gangsters can kill you and your family at will.

Venezuela is lawless. Gangs control large parts of the country and commit heinous crimes at will, with little to no recourse from the authorities.

Venezuela has one of the highest murder rates in the world:

And one of the highest kidnapping rates in the world.

For the 30 million people who live in Venezuela, these are the effects of the government’s socialist policies.

CONTINUE READING –>

Weekly Climate and Energy News Roundup #226

The Week That Was: May 14, 2016 – Brought to You by www.SEPP.org
By Ken Haapala, President, Science and Environmental Policy Project

A Climate Model That May Work: In his written testimony submitted to the US House Committee on Science, Space & Technology on February 2, John Christy of the University of Alabama in Huntsville presented the results of a basic empirical test. Do the climate models simulate what has occurred in the atmosphere since the advent of comprehensive satellite measurements of atmospheric temperatures in the last few weeks of 1978 – the only comprehensive global measurements of temperatures existing – and independently supported by four datasets from weather balloons, which are not comprehensive. The test period includes the entire satellite record from 1978 through 2015 – 37 years.

As Christy wrote:

“I was able to access 102 CMIP-5 rcp4.5 (representative concentration pathways) climate model simulations of the atmospheric temperatures for the tropospheric layer and generate bulk temperatures from the models for an apples-to-apples comparison with the observations from satellites and balloons. These models were developed in institutions throughout the world and used in the IPCC AR5 Scientific Assessment (2013).”

There were a total of 32 models represented in these 102 simulations. Of these 32 models only one tracked well against global mid-tropospheric temperature variations – the Russian INM-CM4. On average, the models overestimated global warming by 2.5 times that measured.

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More Pressure Builds Against Oil Prices

By David Haggith – Re-Blogged From The Great Recession Blog

Saudi Arabia has moved beyond its original statement that it will only support a production freeze if “other major producing nations” sign on to the agreement. It has now clarified what I believed to be intended by its initial caveat all along, stating that it will only sign on to a production freeze if ALL nations sign on to such a freeze. So, “other” means “every.”

To which, Iran says, “Never!”

The Saudi Deputy Crown Prince went even further than that by stating if ANY nation does not sign on to a production freeze, “then we will not reject any opportunity that knocks on our door,” by which he means any opportunity to ramp up crude oil production and sell more oil.

And here is what that means for the OPEC meeting in Doha this month that has raised hopes that I believed to be absurd in the first place:

OilBarrels-500x375

The actions and intentions of Saudi Arabia and Russia—the two largest oil-producing nations attending the Doha meeting on 17 April—have dashed all hopes of any fruitful outcome. The most important meeting of the last three decades, which has promised to forge new friendships and a new cartel, is turning out to be the biggest farce, even before the curtain is raised.

The recent announcements from Saudi Arabia outlining the plan to create a $2 trillion fund to reduce dependency on oil and reports of austerity plans indicate that the Kingdom is not taking the Doha meeting seriously. It also seems to be sending a message to the others that it will not buckle under any sort of pressure, and it is readying its Plan B.

The Doha meeting will turn out to be a total disaster and the sentiment will be further damaged if the participating members don’t release a common statement. Forget about the production freeze. Listen carefully, Bears can be heard sharpening their claws ahead of the meeting. (OilPrice.com)

Meanwhile, what do Russia’s actions (the other key player in this agreement to talk about an agreement) say about the likelihood of success? Russia’s production has worked its way up since talk about having a talk began to a new thirty-year high!

Oil production in Iraq has also picked up so much that there is standing room only in the Persian Gulf:

Oil tankers are caught in a traffic jam near the Iraqi port of Basra, causing delays in loading. According to Reuters, around 30 very large crude carriers (VLCCs) are sitting in the Persian Gulf, and the backlog could cost ship owners more than $75,000 per day. Some could be waiting for weeks to reach the port…. The culprit is high oil production in Iraq. The port at Basra is struggling to load up all the oil tankers fast enough, forcing some to sit and wait…. And the line of tankers appears to be growing. The gridlock is forcing up the cost of renting an oil tanker. That, combined with the shrinking capacity of available storage in China is pushing up tanker rates in Asia as well. (OilPrice.com)

While oil tankers are stacking up because of increased Iraqi production, they are also stacking up because, once loaded, they have nowhere to go! So, it’s a pile-up at sea.

As storage becomes less available on land and sea, the price of storage goes up (supply and demand again). As ships has become backlogged, the price of shipping has nearly doubled. Increases in the cost of moving and storing crude oil, put additional downward pressure on how much people are willing to pay for crude oil. So, while supply (production) is still rising in many parts of the world, demand for more crude is going to fall, as it gets pricy to have it just sitting around.

In spite of ramping up it’s production, Iraq is one of five OPEC nations on the brink of financial disaster, due in large part to the current low oil prices — the others being Venezuela, Nigeria, Libya, and Algeria. So, these smaller nations talk of hope for the Doha meeting, while the larger nations give no rational basis for hope.

One has to wonder how long it will be before some architect of human chaos decides the way to resolve this crisis for the oil and banking industries is with a Middle-East war that crushes supply lines and knocks out production. Let’s hope not, but history has its example wars that look like they had such motivation.

So far, there is a growing storm of reasons to stay with my prediction that the price of oil is going to go back down. As I published my article yesterday to that effect, the price of oil was going up rapidly; but I look at the fundamentals and see a lot more downside … and stay with that.

Oil, oil everywhere, and almost nowhere left to put it.

CONTINUE READING –>

“No Bread” – This Is What Happens When Your Economic And Monetary Systems Collapse

By Mac Slavo – Re-Blogged From http://www.freedomoutpost.com

While Americans still enjoy easy access to basic necessities like food and medicine, the last several years have shown us just how bad things can get when it all hits the fan.

When the country of Greece collapsed in 2012 we highlighted the desperate situation faced by its millions of residents:

With untold billions in private and public sector debt, the situation in Greece (and other debt laden European countries like Spain and Italy) has devolved to such an extent that some EU member nations are mobilizing their military personnel in preparation for full spectrum meltdown across the entire region.

Jobs are so scarce that many have been forced into underground barter economies and family farming to make ends meet. From massive austerity spending cuts that have torn to shreds the government social safety net, to shortages in critical life saving medicines and the near breakdown of the nation’s power grid, Greece is experiencing all of the overt signs of a nation on its last leg.

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$1.99 Per pound Filet Mignon…And War!

By Bill Holter – Re-Bloged From http://www.Gold-Eagle.com

This past Sunday night and Monday’s action in gold needs to be discussed of what I believe is now a rapidly moving big picture.  $2.7 billion worth of gold futures were sold in just 2 minutes Sunday night.  As I have asked before, “who” could possibly “own” this much gold other than an official source?  The answer of course is nearly no one other than a very small handful of ETF’s.  In perspective, $2.7 billion worth of gold is roughly 3% of global production.  Said differently, it amounts to nearly 10 days’ worth of labor and production worldwide… sold in less than two minutes!

Next, assuming there really is an entity that owns this much gold, “who” in their right mind would sell it in this fashion?  Who would sell so much and so rapidly concentrated in time as to knock the price down $50?  What trader would still have a job the following day if their own sale created a drop of four percent in the proceeds received?

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