En Español

Very usefull links





Business Partners





FxHQ Forex News

The Global Barrel

Tiempo Cultural

Gustavo Coronel

Iran Watch.org

Le Blog des
Energies Nouvelles

News Links




Dow Jones



Views and News





Inside, confidential and off the record


Your atention please


Voters cast ballots in election that could swing parliament
to the opposition for the first time in 17 years.


We have tended not to pay a great deal of heed to the
congressional elections in Venezuela that will be played
out this Sunday, but in a nation that should be “violently”
wealthy having enjoyed a decade of high crude oil prices
but which squandered that wealth on ill-advised leftist
give-away program intent upon buying the votes of the
nation’s poor, low oil prices have plunged the nation into
poverty instead. Food was once cheap; welfare
programs were broad and many; housing in many
instances was free. Now, poverty has trumped the
country and as one Venezuelan voter was quoted by the
press earlier this week, Instead of taking us out of poverty, this
government has left us poorer than ever.

Food is in short supply; water is in short supply; beer is in
short supply; toilet paper is in many instances nonexistent
and grocery stores that used to be open 24/7 and were until recently opened only one day a week have been closed almost permanently. Corruption abounds, made easier for those with access to high ranking government officials who can allow their friends and relatives access to the nation’s currency, the “Bolivar,” at prices 95% below that in the “free” black market.

Thing are so ill economically that when adjusted for the real
level of the Bolivar the average Venezuelan has an
income half that of the Cubans. It was only a decade or
so ago that Venezuelan’s bailed out their friends in Cuba;
now, after years under Chavez and years more under
Maduro it is Venezuela that looks to Cuba for aid.
We’ve no idea how the election will turn out, although we
are certain that the results will be phonier than the two
tier currency system. Maduro’s party should be cast out
if the world were fair, and cast out summarily; we fear,
however, that it won’t be. Corrupt governments have a
way of holding onto power all too often and especially in
central and South America.

While “in” South America, the process toward the
impeachment of Brazil’s President, the arch-leftist and
former Marxist guerrilla, Dilma Rousseff, is moving
forward. The “request” for impeachment was put forth on
Wednesday by the Speaker of the Brazilian House, Mr.
Eduardo Cunha, and it is all the more fascinating that Mr.
Cunha is himself facing corruption charges. President
Rousseff’ s public support level has fallen to what we
have referred to as near “Hat sized” levels for she has the
support of only 10% of the public and that is still trending
lower. She will face impeachment on charges that her
government improperly accounted for the nation’s taxes
and expenditures in ’14 and this year, while Mr. Cunha
faces corruption charges on regarding alleged “kickbacks”
from Petrobras… the company for which Ms.
Rousseff, interestingly, was the Chairman during the
period when Mr. Cunha allegedly took the “kick-backs.”
Things grow darker and more complex by the day.


Dennis Gartman / The Gartman Letter / 12 04 2015

ISSUES....12 / 07 / 2015 - Send Us Your Issues

ISSUES.... Inside, confidential and off the record
Is an independent journalist effort from Petroleumworld, on Inside, Confidential and Off The Record Information, its views are not necessarily those of Petroleumworld

Follow us in : twitter / Facebook

Send this story to a friend

Copyright© 1999-2009 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ stories by anyone provided it mentions Petroleumworld.com as the source. Other stories you have to get authorization by its authors.Internet web links to http://www.petroleumworld.com are appreciated

Petroleumworld welcomes your feedback and comments,
share your thoughts on this article, your feed. back is important to us!

We invite all our readers to share with us
their views and comments about this article.


Write to editor@petroleumworld.com


By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8 +/ 800x600 pixels



March 2016



Editor & Publisher:Paul Ohep F./Contact Email: editor@petroleumworld.com


CopyRight © 1999-2010, Paul Ohep F.- All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

Technorati Profile

CopyRight © 1999-2010, Paul Ohep F. - All Rights Reserved.
This material may not be published, broadcast, posted online, rewritten or redistributed by any type of means, except with permission of the author/s

The information in this web site is proprietary and is protected under United States and International Copyright and Trademark laws. No part of this web site may be reproduced or transmitted in any form by any means whatsoever, except with permission of the author/s..

Petroleumworld encourages persons to reproduce, reprint, or broadcast Petroleumworld articles provided that any such reproduction identify the original source, http://www.petroleumworld.com or else and it is done within the fair use as provided for in section 107 of the US Copyright Law. If you wish to use copyrighted material from this site for purposes of your own that go beyond
'fair use', you must obtain permission from the copyright owner.
Any use of this site or its material, in any form, without the express prior written consent of the author, is prohibited by law and is subject to legal action. Legal Information

Top 100+

Technorati Profile
Fair use notice of copyrighted material:

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from Petroleumworld or the copyright owner of the material.