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Category Archives: National Assembly

Venezuela Bankrupt? Caracas Fails To Make Sept 15 Interest Payment

Exactly one week ago, we wrote that a “Venezuelan default is only a matter of time”.  We said that “while debt servicing has been a government priority, declining external liquidity and a deteriorating domestic situation (three-digit hyperinflation, shortages, and a political crisis between the government and the National Assembly) make it a daunting task. By […]

Could Bitcoin Help Venezuelans As Crisis Deepens?

Authored by Michael Kern via Crypto Insider, Protests continue to rage in Venezuela as inflation soars to unprecedented levels and the price of oil remains low. The country’s national currency is now worth less than fictional gold in Azeroth, the setting of the popular massively multiplayer online role-playing game World of Warcraft, pushing Venezuelans to bitcoin […]

Rand Tumbles After South African President Zuma Survives “No Confidence” Vote

National assembly speaker (and purported replacement) Baleka Mbete's secret no-confidence vote has failed to oust South African President Zuma. Speaker of Parliament Baleka Mbete shocked South Africans Monday when she announced her decision to allow the vote to proceed on a secret ballot, which would allow party members to vote against their leader outside the […]

Venezuela’s Demise Is A Geopolitical Litmus Test For The U.S.

Authored by Grgeory  Copley via OilPrice.com, Is Venezuela’s 2017 transformation symptomatic of the growing global polarization? And does it show how the collapse of globalism is resulting in the re-emergence of a range of governmental forms which no longer even need to acknowledge “Western-style” democracy?  Are we seeing the revival of a bloc of pre-Westphalian […]

A Month Of Multiculturalism In France: June 2017

Authored by Soeren Kern via The Gatestone Institute, "I am in fundamental disagreement with these left-wing people who do everything to dissociate fundamentalism from Islam. Islam has been radicalized for fifty years. On the Shiite side, there was Imam Khomeini and his Islamic revolution. In the Sunni world, there was Saudi Arabia, which used its […]

Venezuelans Are Now Paying 1000 Times More For US Dollars Than They Did In 2010

The hyperinflationary-hell in Venezuela’s currency is deepening as a crippling dollar shortage and a threat of oil sanctions (amid President Maduro's attempts to rewrite the constition to maintain his grip on power) take their toll on the economy. Venezuela’s Latin American neighbors urged President Nicolas Maduro to refrain from actions that might exacerbate the country’s political crisis in […]

Maduro Thugs Storm Venezuela National Assembly, Beat Opposition Lawmakers, Default Risk Jumps

Venezuela celebrated 206 years of independence in a manner uniquely befitting Latin America’s socialist paradise: A gang of armed Maduro supporters broke into the National Assembly and viciously assaulted opposition lawmakers, nearly killing one. Here’s Reuters: “The melee, which injured seven opposition politicians, was another worrying flashpoint in a traumatic last three months for the […]

Venezuela’s “Mysterious” Bond Deal Reappears, And This Time China Wants Out

As its foreign reserves dwindle to less than $10 billion, the government of Venezuela – desperate for any kind of financial lifeline – has partnered with a Chinese brokerage to try and resell $5 billion in bonds that it initially issued at a deep discount, according to the Wall Street Journal. The brokerage, Haitong Securities […]

Has Venezuela’s Crisis Reached A Tipping Point?

Authored by William Burke-White and Dorothy Kronick via Knowledge@Wharton, Venezuela’s ongoing economic and humanitarian crisis has assumed graver proportions over the past five weeks and pressure is mounting for a regime change, even as doubts persist over the likelihood of the next presidential elections, originally set for October 2018. Fresh protests broke out after President […]

Emmanuel Macron Elected Youngest Ever President Of France With 65% Of The Vote

Update: As Emmanuel Macron arrived in the courtyard of Paris’s Louvre museum to deliver his victory speech to thousands of supporters, the European Union’s anthem “Ode to Joy” played in the background. “Tonight, France won,” he said to rapturous crowds, adding that “Europe and the world are watching us.” Macron said, cited by the Telegraph, […]