Venezuela

Authored by Daniel Lang via SHTFplan.com,

For several weeks Venezuela has been rocked with protests and riots as the Maduro regime increasingly tightens its grip on the population. It seems as if security forces are brutally cracking down on dissidents on a daily basis now. Wednesday in particular, saw some incredibly tense clashes between protesters and government forces in the capital city of Caracas. According to Bloomberg:

Via The Daily Bell

Say what you will about Bitcoin–whether it is a real currency, a government conspiracy, or a Ponzi scheme–but for one Venezuelan man, it was a very real ticket out of a crumbling socialist country.

Guillermo Hernandez is now safely in Santiago Chile after The Startup Societies Foundation crowdfunded his travel out of Venezuela. It had to be funded with Bitcoin, as PayPal does not work in Venezuela. Bitcoin knows no borders.

Authored by Daniel via The Mises Institute,

Many analysts are venturing to link the crisis that plagues the Venezuelan economy with the fall in the price of crude oil. With oil being one of the most important commodity in Venezuelan production and the country’s main export product, it seems that the fall in the price would bring any country with an economic structure similar to Venezuela’s into a crisis. Similarly, many assume that the problems in Ecuador have the same root as those in Venezuela, although less pronounced.

Authored by Daniel Lang via SHTFplan.com,

After enduring shortages of food and medicine for years, as well as a total collapse of their currency, the people of Venezuela have had enough. Last week it was estimated that 2.5 million people marched against the Maduro regime, which had previously tried to strip away the powers of the opposition-led parliament. It’s estimated that as many as 6 million people may have taken to the streets to protest throughout the country.

Authored by Jeff Thomas via InternationalMan.com,

Venezuela is a naturally rich nation. It’s ranked seventh worldwide for biodiversity and has the world’s largest reserves of oil. This is a country that deserves, more than most, to thrive. However, as in all countries, it passes through economic cycles and, when on a downward curve, would-be leaders take the opportunity to claim that the “greedy rich” have sent the economy into a tailspin (which can sometimes be the case) and that the solution is to adopt a collectivist approach to governance.