http://money.cnn.com/2017/11/14/news/economy/venezuela-debt-default-sp/index.html
Interesting, we have tons of international regions in the forums, but none for south america. Oh well.
Well worth 2 minutes of your time to read it all.
Summary:
* Debt payment due in October, now 30 days late & officially 'defaulted'.
* Bond holders an sieze anything outside Venezuela including shipments of oil for payment
* Currency 'bolivar' has dropped from 3200/dollar to 55k/dollar just since January (2000% inflation)?)
* defaulting on these bonds can allow all bond holders to demand immediate payment (& confiscating all oil shipments)
* it explains why farmers in Venezuela won't grow crops(fixed prices = losses not profits)
Venezuela is a perfect example of socialism/communism. I've said before that if SHTF, 1/3rd of people will try to care for their own families. 1/3rd will turn criminal & try to steal to meet their needs. And 1/3rd will sit frozen at home, slowly starving and dying. Venezuela is the last 1/3rd. But then people there don't have weapons, you can make this point to anti-2nd amendment idiots.
Interesting, we have tons of international regions in the forums, but none for south america. Oh well.
Well worth 2 minutes of your time to read it all.
Summary:
* Debt payment due in October, now 30 days late & officially 'defaulted'.
* Bond holders an sieze anything outside Venezuela including shipments of oil for payment
* Currency 'bolivar' has dropped from 3200/dollar to 55k/dollar just since January (2000% inflation)?)
* defaulting on these bonds can allow all bond holders to demand immediate payment (& confiscating all oil shipments)
* it explains why farmers in Venezuela won't grow crops(fixed prices = losses not profits)
Venezuela is a perfect example of socialism/communism. I've said before that if SHTF, 1/3rd of people will try to care for their own families. 1/3rd will turn criminal & try to steal to meet their needs. And 1/3rd will sit frozen at home, slowly starving and dying. Venezuela is the last 1/3rd. But then people there don't have weapons, you can make this point to anti-2nd amendment idiots.
