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Who Will Rescue Venezuela?

from Rogue Money:

When the leading oil producing country of an entire continent begins to implode, it really does behoove us all to take notice. The economic conditions within Venezuela have been rapidly deteriorating for months. In October 2015, NPR.org published an account of what was already becoming a horror story nearly ten months ago. Pictured below is a young couple who was forced to present their baby’s birth certificate before they would be allowed to buy diapers for the toddler. Weimar-like reports such as this one preceded those that have emerged recently of the dire food shortages that have prompted the harvesting of zoo animals and family pets by Venezuelan citizens struggling to live through another day.

Thus with some irony to this Diaper-Gate story, a fiasco between the U.S. mega giant and everybody’s favorite “Huggies(tm)” producer, and “Pampers(tm)” competitor, Kimberly-Clark, was doomed to play out against the President of Venezuela. Just one month ago, Citibank abruptly announced that it will close the Central Bank and the Bank of Venezuela’s accounts in 30 days (so, this is happening now.). President Maduro was furious.

Jim Willie laid out the backstory of this action and revealed the sneaky way that Citibank just absconded with Venezuela’s gold reserves, as published in his Global War Hat Trick report for July 2016:

A sequence of events points to Citibank [having] just confiscated $1 billion in official Venezuela gold bullion held in reserve. The deed was boldly done in reaction to strongarm actions by the Caracas officials. Recall the gold swap contract, initiated a little over a year ago. Something curious took place overnight on July 12th, on the same day that Maduro Regime announced it would seize a local Kimberly-Clark factory after the USbased consumer products giant announced it would shutter its Venezuela operations. The company had spent years of grappling with astonishing high inflation and a shortage of hard currency and raw materials, in their words.

Immediately in sequence, beleaguered President Nicolas Maduro revealed that Citibank planned to shut his government’s foreign currency accounts within 30 days notice. The Wall Street bank will close the accounts for the Central Bank and the Bank of Venezuela. Maduro denounced the move by its primary foreign financial intermediary. The blockade by Caracas officials badly backfired, as Citibank exercised a contract clause, so it seems….

Here is the key element in the event. Among the central bank accounts closed by Citibank will be the prominent gold swap launched just over a year earlier. To be sure, Citibank has taken a highly aggressive position against Venezuela’s monetary authority and the Bank of Venezuela, the country’s biggest state retail bank. The biggest OPEC member nation in the American Hemisphere, Venezuela is immersed in crisis, suffering from massive price inflation, enormous shortages, and a fractured economy. It is ripe for a revolt and regime change. The Jackass expects the Chavezites, including the Maduro gang, to escape for their lives soon, and to secure their stolen booty hidden in foreign locations like Panama.

Those of us who have followed the work of former “economic hitman,” John Perkins, immediately recognize the stench of Langley on this move by Citibank. How would President Maduro recover from this one-two punch?

THE SILENT COUP THAT WE DIDN’T HEAR ABOUT

At the same time that Citibank made the announcement, President Maduro was forced to appoint a “Food Tsar,” his Defense Minister, Vladimir Padrino Lopez, to take charge of the dire food distribution situation and inspire a shred of hope for the people of Venezuela. This was a clever chess move by the Maduro regime who pretty much don’t have a snowball’s chance in Hades of winning the nation’s next leadership referendum. By appointing Padrino, the Maduro party has at least put a good foot forward in getting their man in place to take over if/when Maduro is forced out. This then prevents the opposition’s choice from coming to power, Mr. Aristobulo Isturiz, a man whose sheer incompetence and penchant for bribery would likely make him Washington’s choice for Venezuela’s next president.

Read More @ RogueMoney.net

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