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The Trump administration banned trades of Venezuelan debt, prohibiting Maduro’s government and its state-run oil company, Petróleos de Venezuela SA, from selling new bonds to Americans or in U.S. financial institutions. President Donald Trump signed an executive order approving the sanctions Thursday. Read more here: www.miamiherald.com...=cpy
originally posted by: RAY1990
a reply to: Bluntone22
Maybe it needs an overhaul. It's a new century and they haven't changed much since the cold war.
In fact I'd urge for an overhaul. If we can't help the world together then it'll be done individually. Usually when nations offer such "charity" it doesn't come freely.
China is already taking over nations and lifting them out of poverty.
Ask yourself what future you want, for your/the kids, those suffering in other nations, your nation and the world.
The UN has a place, the world needs change. It may be selfish of me but I'd prefer change to be centered towards western values.
We are kinder generally... Not that we don't need change ourselves though. We do.
originally posted by: RAY1990
a reply to: yuppa
That's my point, China will take over the influence the west in general has.
Dude, we've exploited many of these nations we've "supported", just use Somalia as a blueprint for what we've accomplished in pretty much every third world nation.
By third world nation I mean any that wasn't aligned to the capitalist West or communist East.
Charging them for our help in bringing them up to humane standards of living won't work, China will win if we try that.
Screw the IMF, screw interest on charity. It won't work.
No strings attached aid and charity. On humanitarian grounds.
"The U.S. imposed its first economic penalties against Venezuela on Friday, hitting the South American country’s financial sector in an attempt to starve President Nicolás Maduro’s government of cash."
"Barring Venezuelan debt purchases could cripple Caracas’ ability to raise money to pay off interest on its growing national debt, as the oil-producing country has been doing in the middle of an unprecedented economic collapse."
But the facts are different, and Venezuela has reacted. Initially, by borrowing from China and Russia against oil deliveries, but more importantly, it was recently announced that it had consigned its oil sales to Rosneft, the Russian oil and gas giant, who has so far sold the entire Venezuelan oil production until December, including sales to major US oil companies and refineries. This a smart move, that guarantees Venezuelan oil is neither embargoed, seized nor are its payments withheld.
Additionally, Venezuela continues to sell some of its oil assets (upstream and downstream) to Russia and China and hence ensuring proper funding for its oil operations.
If this development is allowed to continue, the chances of a Venezuelan (and Nigerian) oil production disruption diminish, and the argument for an oil price spike falters. Not only so, but in a worst-case scenario, Venezuela (and Nigeria) can, in desperation, dump oil on the markets and crash prices like never seen before.
From a geopolitical aspect, this means ever closer relations with Russia and China, which together with a couple more anti-western South American countries, could result in a ‘backyard’ full of pickles! Will it be allowed to happen, or are we about to witness another ‘North Korean’ drama, but this time in South America?