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Massive Oil Reserves Plus Socialism, Welcome to the Failure Called Venezuela

Explosive US Shale Growth, and Energy Independence

Misguided policies and iron-handed control sets Venezuela apart form its neighbors.

The late Hugo Chavez introduce a radical version of the socialist model to Venezuela – the social justice powerhouse of Latin America. But still, not unlike that versions that we have seen across Africa, Latin America and the Far East, this resource-rich country has an economy that is hopelessly inefficient. Venezuela is now in a free-fall and could be a failed state in 2019 and 2020. This is an incredible achievement as this Socialist State has the largest oil reserves on the planet, even more than Saudi Arabia. It is clear, now the government is broken, and the average citizen has lost 11 kilos or 22 lbs in that past 18 months, this country needs support or it will likely become a failed state and fall into civil war – yes things are that bad.

A society that is looking for its next meal, over 30 percent of Venezuelans say they go to sleep at night hungry. Its refugee crisis is reaching Syria-like proportions, as waves of people move into Brazil, Colombia and Equador, looking for work, a place to live and even food.  Still, there is one country that continues to support President Maduro, backing the regime with loans-for-oil deals that have worked well until now, but China is becoming concerned and somewhat reluctant as President Trump talks about taking action.

Despite open calls for a violent overthrow of the government, we at Classiarius, believe that global coordination, food and other humanitarian relief, as well as new economic policies, could turn around this resource -rich nation in just two to three years. We of course, reject all violence such as riots and mobs exacting their view of justice on the leadership. In the coming months, President Maduro will likely be forced to step down, paving the way for a new freely elected government, and a a restart to Venezuela`s economy. 

Finally, note that Socialist President Maduro ordered a 96 percent currency devaluation on Friday, and pegged the Bolivar currency to the government`s petro cryptocurrency as he raised taxes. Some retail outlets and other business associations have raised questions about new policy.

Team Classiarius

JMB

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Classarius is the only data driven news for blockchain, cryptocurrencies and technology from investment professionals.
Disclaimer: We do not provide investment advice or strategies, this article is not intended as such but only to provide you the reader with information. Please conduct your own research before any investment of any kind.

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