Heading To The Breakdown

For Tuesday, August 21, 2018. Translated by Javier Liendo.

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Photo:@osmarycnn

The second reconversion in a decade came into force this Monday and the highest denomination banknote, 500 sovereign bolivars (50 million strong bolivars) pays for about $7 at the official rate. Yesterday, all official spokespeople forgot to mention the bolivar’s huge depreciation, tax increases and how the colossal wage hike will only be sustainable by printing many more bolivars, because, without international financing and with declining oil production, there’s no way to get the necessary dollars to revitalize what they’ve already destroyed. The withdrawal cap for ATMs was 10 sovereign bolivars (one million strong bolivars) right when the black market dollar is worth eleven million times more than it did when Hugo Chávez came to power in January 1999, at Bs.F 0.547 or 547 old, plain bolivars.

The underground backing

Vice-president Delcy Rodríguez reported on the progress of the first day of reconversion, claiming that there were “400,000 point of sale operations” and the average of 200,000 reconversion bonuses per hour, deposited for carnet de la patria holders. Calling the petro “the protector father of the sovereign bolivar,” she mocked those who estimate that increasing the minimum wage from Bs.F 3,000,000 to Bs.F 180,000,000 will have an impact on inflation and denied it, with the brilliant argument that if Nicolás will finance the payroll of companies for 90 days, prices can’t increase.

Certain that “there can’t be any excuses for this program to be successful” (sic), Rodríguez spoke of the defeat of induced hyperinflation and the “rioter” dollar and she had the nerve to claim that the dollar is backed by war (encouraged by the tweets of American vice-president Mike Pence,) saying the dollar is “a ghost currency supported by a great war machine,” while the solid bolivar is supported by extra-heavy oil buried underground and without a single oil rig around.

By the way: the government increased the VAT to 16% for all products, not just sumptuary goods as they had claimed even this Sunday.

Fedecámaras’s perspective

Carlos Larrazábal, chairman of the Venezuelan Federation of Chambers of Commerce (Fedecámaras), said that the measures announced by Nicolás will increase the economy’s instability: “The announcements create uncertainty, they’re improvised, without consultation and they’re not being properly communicated to the people,” he said, emphasizing that the exponential wage hike could destroy companies’s already weakened equity. For this sector, Nicolás’s plan won’t be able to beat down hyperinflation, create economic growth or recover foreign financing, adding that tethering the bolivar to the petro is a serious mistake, considering the volatility of oil prices. Fedecámaras didn’t support the 24-hour strike called for this Tuesday, saying that there are enough reasons to protest, so they think that “each citizen will make the decision to join that initiative or not.”

Diosdado’s version

Angry because the opposition’s saying that Nicolás’s “recovery” plan will fail, Diosdado Cabello claimed that “there’s not a single voice in the Venezuelan right-wing who can make a proposal.” That’s a lie, but remember, lying is a compulsion. The failures of recent weeks aren’t enough for PSUV, so today they’ll march in support of the plan and also the ANC will hold a session so that Tareck El Aissami presents the proposed laws, to a body with no authority to legislate. He also convened the 4th PSUV Congress so that they present this weekend another block of proposals for the recovery program, before restating that they’re the only guarantee of peace and they “have never left anyone behind.” Thinking that the current uncertainty is natural, he cautioned that “the petro will be issued in a few days,” that he thinks it’s best to wait a little. After defining resellers as “economic assassins,” he threatened that they’ll be merciless with those who increase prices. It was memorable to see him talk about the exodus of Colombian citizens returning to Venezuela.

Abroad

American oil company ConocoPhilips announced an agreement with PDVSA to recover $2.04 billion after the dispute for the expropriation of a part of their assets: PDVSA accepted to pay $500 million 90 days after the singing of the agreement and the remainder every three months in four years and a half, so Conoco accepted to suspend their legal actions in the International Chamber of Commerce’s International Court of Arbitration. It would fantastic if Nicolás could explain where’s the money to pay Conoco going to come from, amidst default and after all the complaints they’ve made about “blocked accounts.” Meanwhile, Argentine President Mauricio Macri said that possibly he, along with other countries, will request the International Criminal Court to investigate alleged crimes against humanity committed in Venezuela. Macri said that there are more agreements in the region about taking more concrete measures, remarking that Nicolás “hasn’t changed at all, he made a lot of people who thought they could be mediators waste their time,” adding that he’s not very optimistic about our situation in the short term.

We, migrants

The UN demanded respect for the rights of Venezuelans who flee the country and that they’re treated with dignity by host nations. Lawmaker Gaby Arellano asked the region’s governments to activate the protocols that international institutions use for a humanitarian emergency like the one we’re experiencing. From the Colombia-Venezuela border, Arellano emphasized that Venezuelans aren’t migrants but refugees.

Horacio García, head of Argentina’s Immigration Department, said that starting September, they’ll implement a new plan for a stricter control on immigrant flows, to regularize the situation of those who enter the country illegally. Sergio Etchegoyen, Brazil’s Institutional Security Minister, said that “closing the border with Venezuela after the incidents that took place during the weekend, is unthinkable and would be illegal,” this before Roraima State authorities filed an urgent request before the Supreme Court asking for the temporary suspension of Venezuelan immigration. OAS chief Luis Almagro said that he requested an urgent meeting of the Permanent Council to discuss the Venezuelan migration crisis.

Shortly after, the Colombian government said that this request is an acknowledgement that our migration crisis causes a regional impact and requires a multilateral treatment.

This Monday, lawmaker Juan Requesens was denied the visit of his lawyers again; but according to imposed prosecutor general Saab and Ombudsman Ruíz, due process is respected here.

Additionally, the Frente Amplio Venezuela Libre joined the call for a 24-hour strike made by Primero Justicia, Voluntad Popular and Causa Radical for this Tuesday, August 21. We don’t know if the session the National Assembly convened for today will be held after the ANC session announced by Diosdado Cabello. About Almagro’s “scolding” of National Assembly Speaker Omar Barboza, I’ll just say that his position doesn’t give him the authority to determine what to do with the TSJ in exile’s rulings and much less discredit the only legitimate power we have. His notable solidarity with our cause isn’t a Letter of Marque.

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80 COMMENTS

  1. For years, the reply of Chavistas and PSF to oppo reaction to yet another disastrous policy has been to mock prophecies of doom. “Chavismo is still there. Still ticking.Ha.Ha.Ha.” I suspect that next two months will tell. Which is why I haven’t made any money as a political analyst.

  2. Is there a definitive answer to how the petro will be valued? Maduro says it will be $60, which was the example price in the Petro White Paper. Maduro also announced that the BCV will publish the data underlying the petro starting today, but the site is currently unavailable. Yet the Ministry of Oil is still publishing the value of the Cesta Venezolana as the “Petro’s Price.” http://www.minpet.gob.ve/index.php/es-es/ As of yesterday it was at $65.55.

    It is one thing to index government promises to the dollar at $60.00 by letting the bolivar depreciate against both the dollar and the petro. It is quite a different thing to try to index promises to the dollar and the price of oil.

    Something to watch.

  3. the colossal wage hike will only be sustainable by printing many more bolivars, because, without international financing and with declining oil production, there’s no way to get the necessary dollars to revitalize what they’ve already destroyed.
    ———-
    What they’ve destroyed is all value relative to the Bolivar, which has outstanding debt to the tune of 150 or so bilion against it. Assigning a 60 dollar value to Venny gunk oil is real only if you factor in the price to “lift” and refine it, whcih requires actual money the Chavistas don’t have, and even if they had the true value per barrel – would as many have pointed out – be 20 if not 15 bucks. Add to this no mechanism and certainly no guarantees (inagine an investor trusting a Chavista’s word) that one could ever redeem the assigned dollar value (of the Petro) from these bumblers and we have yet another ham-fisted scam that Maduro might impose on the pueblo, but which will never fly in the modern world.

    Should be interesting to see how Maduro’s promise to “pay the saleries of small to medium sized retailers” actually works out.

    And the big businesses still operating in Venezuela, like Polar?

    What a shit show.

  4. My Dear President, Nicholas Maduro,

    Many thanks for your recent actions to stimulate economic growth in Venezuela. I understand that the Petro will be the country’s new primary currency with the Sovereign Bolivar pegged to it. I also understand that the Petro will be pegged to the price of oil, which will be determined by the Ministry of Oil, reflecting actual transaction price with the USD, currently around $60 per bbl.

    I am aware that government sanctioned currency exchange houses will be available soon, for the purpose of trading currencies at market prices.

    I am planning to spend Christmas with relatives in Miami, U.S.A. this year and will need U.S. Dollars. Will the exchange houses be open in time for me to exchange Petros for dollars before I have to depart for Miami? And, will I soon be able to exchange Petros for dollars at my local bank? And will the government guarantee the exchange rate based on aforesaid price of a bbl. of oil?

    I know it is early, but would like to get this little matter clarified asap so I can finalize my travel plans. Your timely response would therefore be greatly appreciated.

    Your humble servant and admiring fellow citizen,

    Lorenzo

    P.S. I am not an economist, but I am excited by the forthcoming ability to freely exchange Petros/Bolivars for dollars at rates pegged to the price of oil, and guaranteed by your government. This is what will make your new policies work! Vive Chavez! Vive Venezuela!

  5. The ONLY way this ends is when El Pueblo suffers more than they hate the vile middle class and despised “rich”.

    Seems to me El Pueblo is willing to put up with a lot more suffering.

    • Hi Mr. Guapo!

      I cannot get over yesterday’s quote from your in-house sage, Mrs. Guapo about Chavistas. Es que son come mierda! I read Aporrea.

      As you point out, el pueblo needs more purification by Chavismo, porque no aprenden. They will have to wonder 40 years in the wilderness as the people of God did in the Pentateuch until the very last one dies of starvation.

      • That’s right. Seems to me things are going to be “normalized” once again…only just a step lower than before.

        Avisenme cuando llegue el Apocalipsis.

  6. “PDVSA accepted to pay $500 million 90 days after the singing of the agreement and the remainder every three months in four years and a half”

    This make no sense. Why would ConocoPhilips believe any promise of future payment from PDVSA (or any VZ entity at this point).

    There must be more to this. ConocoPhilips must have been able to put an enforceable lien on something, fully expecting to get the collateral rather than the cash.

    In other words, PDVSA must have pawned something to ConocoPhilips. They just didn’t say what it was.

    • My 2 cents.

      1. VZ was forced to sign because they desparately need that storage and refining facilliites in the caribbean
      2. Note they also today signed an agreement with NuStar for access to the storage terminal (They paid up, and prepaid the fees for an extra year.

      3. In regards to Conoco. They have “suspended” its legal enforcement ONLY.
      4. Obviously $$ in the pocket now is worth one hell of alot more than future $$, especially since when the VZ boat finally sinks, there are going to be 100’s of billions of hands fighting to be first in line for the assets. It will be a long drawn out process, to re-coup even a partial amount of money.

      5. And if Maduro et al, is going to stiff Conoco in 90 days, then it still was the best play that could be made.

  7. @renacuajo67: I think you meant “wiseman” instead of “sage” (sage is an aromatic plant from the Mediterranean)

    In any case, I agree with you. I have never seen so many come-mierda in on single place, this is the commentaries in this Caracas Chronicle blog. Mojones and more mojones. Do they work? These professional mojoneros can’t work and spent every minute of their lives saying mojones non stop.

    My hypothesis is therefore confirmed. Venezuelan are a special race but not unique: comparable places are Libya, Congo, Zimbabwe.

    I remember my grandma telling me that all of us had a relative in Africa and I was ostracized for not accepting it. But she was right: the deepest roots are in Africa notwithstanding the skin color.

    And Venezuelan reaction to these events is as I predicted. The reaction from this blog demonstrates it. Thanks

    • The word “sage” was used correctly.

      Pepe/Jose, I suggest you spend more time learning syntax and lexicon and less time correcting other people’s posts.

      And perhaps stick to a Spanish language forum. Your English is as bad as my Spanish.

    • Pepe…I realize that English is not your first language but the word sage has multiple meanings. It’s use as a noun refers to a profoundly wise person, it’s use as an adjective describes the advice or guidance given by the sage . And yes it also means a plant.

    • But, sage is also an aromatic plant, available in many Native American merchandise stores in the U.S. West, burned/used by shamans to ward off evil spirits–sage advice for Pepe, who seems to be plagued by come-mierdismo/mojonerismo he seems to find in comments on this Blog, but which he seems to relish/eat up….

      • FYI a “comemierda” when used in context in Castellano refers to somebody who will believe anything they are told by an oppressor and continue to eat shit day in and day out because this is all they know how to do. Weak, submissive, pathetic. Just look at el pueblo in Venezuela today- millions and millions of comemierdas-and this is Maduros base of support. Poeta has ranted about this hundreds of times by now. And, indeed, I love this term. My girlfriend uses it all the time. So please Pepe, use this term correctly and in context. When in doubt just write it in Spanish. Most all of us here can speak Spanish.

        • Guach, from that thread last night, what are curcuma and topocho?

          I mentioned a while back, but don’t know if you saw the post, if you’re in need of seeds for the garden, CC member John sends packages which I retrieve in Caracas. I’d be glad to help you out. It’s only going to get worse from here forward.

          All we’d need to do is square up contact info.

          • Cúrcuma is Turmeric, either in root or powder form.

            Topochos are a banana variant, though have also seen it used with a Plantain variant.

          • MRubio, all squared up as far as seeds go. If I want margarita tomato seeds, I just go buy a really good looking one, clean it out, dry the seeds, and then I plant it in my nursery. For a backyard garden this works good enough and can be sustainable.

            One thing that i am growing, because it it grows like crazy, lots of food and drought and pest resistant is malabar spiniach, aka poi spinach (in Trini) I have also heard it called Indian spinach. I think this came from India then to Trini and Guyana. It is not really spinanch genetically, but a vine, and it has huge leaves and is a little more spicy than regular spinach. Going to cover the whole back wall and rejas with the shit. I have a friend who has a plant that is like 5 years old and it has a vine as thick as a tree trunk and is all over his yard. Malabar spinach is great stuff. At vivero on island they just call it spinach, but that is not correct. This is real good Hindu shit. Next week I will make a malabar spinach curry with chunks of queso quyanese. You can also do really good cream of spinach soup with it. Or just steam it and eat it with a few spices and butter.

  8. From what I can tell the day of protest is a big flop. All I have seen are pictures of empty streets and closed stores. Does anyone know of actual protests occuring anywhere? Anywhere?

    • Protest openly and be shot/jailed. Cower starving to death in your dark dwelling with no food/water/medicines–and you’ll be OK–famous NM/AN/MUD/PSUV/COLECTIVOS/FANB maxim….

  9. Pepe’s been taking his lumps here lately. Hang in there Pepe. Your English is far better than my Spanish though I suggest you back off from correcting other’s use of English.

    DolarToday 65.18 bs S to the $.

    Looks like I’m actually going to close that deal on the heavy equipment today…..1/2 in $ cash, the other 1/2 in Bs S using the DolarToday rate.

    • Did you ever see these small backyard DIY fish farming systems where you raise tilapia in 55 gallon drums, and their shit feeds the connected plant system?

      • Hadn’t seen that Ira, though raising fish has always interested me. With several hundred 55 gallon drums on hand, I’d have a good start on the needed investment. 🙂

        Gotta linky?

        • I get it. CC won’t let me post the link. I tried 5 times.

          It’s called Aquaponics, the simultaneous raising of fish and plants.

          • Ira, I’ve had the same problem. It’s not clear to me why, but sometimes posting links on this site works just fine, other times not so much. They just disappear into the ether(net).

        • Great Blue Herons are not common in Massachusetts. But if you have never seen one, all you have to do is build a small backyard pond and stock it with expensive goldfish. Guaranteed, within a few days a GBH will swoop in and wipe out your entire livestock in about 5 minutes.

          • Lorenzo, we had plenty of them when I lived in S. Louisiana. And it’s not only the Great Blue Herons, the smaller white egrets do a fine job as well. I lived on a lake in the city and those suckers would come right up to the house looking for lizards or whatever else moved.

            Ira, thanks for the info. My woman has been seriously reassessing how we do things here and would most definitely consider backyard aquaculture. Eating beef every day gets old. And it’s not just the cost of products that’s concerning to her, it’s the fact that, with each passing day, it’s harder to find food. Transport is really getting to be a major problem. The fish we buy comes from Carupano in Sucre along the coast, but seems to be showing up less and less often.

            We’ve got laying hens right now, though we’re allowing them to set when they’re so inclined to produce more birds. We raised thousands of meat birds here at the house in the past, in lots of 500, and while I have no intention of getting back into that business, we’ve still got most of the equipment.

            I told her the other night that we’ve got one section of the bird pen that I could easily raise to harvest size 20 or 30 meat birds. Those birds grow super fast, the males being ready (2.2 kilos plus) in 36 to 38 days and the females in 40 to 42. As always, we’d need to buy all the feed in advance. If disaster strikes and kills a signficant percentage of the birds, no big deal. It won’t be like finding 200 three week old birds dead one morning.

            And, of course, I’m still waiting for my hogs. I need to get back on track on that one.

          • Basically, these fish are immune to bird predators. Thieves are another story.

            Basically, with this system, you buy baby fish. Don’t ask me what the hell a baby fish is called, nor how to supply someone in VZ. I do know there are a number of places in the states that sell fledgling tilapia, that they ship.

            The fish live in a barrel, or other container type, which is mostly covered, and this cover protects it from bird predators. Not to mention that you can rig below the top with chicken wire to keep predators out.

            A pump circulates the water from the barrel onto the cover, which has pods holding your hydroponic vegetation. The shit in the water from the fish fertilizes the plants, and the run-off from the plants further enhances the fish environment.

            It’s a really simple system, and I think if you can keep your pumps going…and these are small aquarium pumps, not industrial stuff…temperature doesn’t matter for tilapia. Unless you have a deep freeze, you’re good at all temps.

            I gotta find…and I’m gonna find…the link for the 55 drum system. I know they don’t have to be food processing grade, but I’m not sure if industrial grade that once held chemicals of certain types can be used.

            This system just needed the barrel, aquarium grade pump, some PVC, and a modded lid to hold your vegetation.

        • It’s a risky proposition MRubio. The thieves would steal the fish and then come back for the tank and water. 😊. Hang in there and keep us posted. I enjoy your insight.

    • ive been hearing 14 but thats from people selling….no idea what the real price is yet so ill be holding off selling for a while myself. Food prices have NOT gone up yet. Strange times.

      • One of two or things (or both) will happen in the near future. Food prices in SOBs will go up (a lot), or There wont be any food to buy. Imported food has to be paid in hard currency. What is still grown/made in the country still has to pay for the imported ingredients, fertilizers, etc., in hard currency. There is no way around it. Maybe Maduro can pull off a few weeks of using up what was in the warehouses, but then the gig is up.

        The earthquake wont help. I suspect we will start hearing about a lot of damage, and maybe fatalities and injuries in a country with a broken healthcare and hospital system. I don’t see the Chavistas inviting/allowing any outside help.

      • Ok, so this one is beyond my payscale. I am f($king chef with a bullshit social science degree, but it goes:

        As far as the dollar rate: some say it is going down. Some say it is going up. Who knows what the f to think. And hard to judge from the sites today.

        But what I am thinking is that if a good number of businesses throw in the towel (or at minimum shut the santamaria and do business behind closed doors) this will reduce the demand for forex exchange and thus reduce demand for dollars, euros.

        The result there would be a price that stays stable near 60 (or 6 million, really we should call it 6 million just to let everybody know we cannot forget about the worlds highest inflation rate here).

        Secondly, who knows if these assholes pull a rabbit out of their hat and their stolen gold to Turkey comes up with some dollars or euros to feed the forex demands of the enchufados.

        Gigainflation of the BSS going to 9 million, 14 million and climbing from there would be the nail in the coffin for the BSS, but if they can keep it down by destroying demand for the parallel dollar by destroying the private sector might be something that can keep them holding onto power for a bit longer.

        Now, if the private sector can grow a pair of nuts, be united, and say FU to these assholes, then maybe Venezuela has a chance. But if you have met any of these douchebags from the fedecameras here, they are a bunch of limp dick assholes that are all about talking statistics and kissing ass of high connected members of society rather than getting to the roots of the real problem: the only solution is to get rid of this piece of shit government and have a free market economy in Venezuela.

  10. MRubio, hey that’s good news! Probably won’t be a lot of demand for heavy equipment in Ve in the forseeable future. Don’t know where the transaction will take place but I hope there will be other people around for safety’s sake!

    • Yes, other people will be around. Other “armed” people.

      I’ve simplified my life considerably. Not only was trying to provide these services profitably almost impossible with rampant inflation, I was concerned about the phone call I’d receive one day that one of my tractors and plows had been hijacked and if I ever wanted to see it again, all I had to do was pay a ransom.

      Of course, those of you who know anything about this paradise, know that that’s how it works here. Someone steals your truck? You don’t go to the police, because if they’re not already in on it, they won’t do anything anyway. You wait for the phone call and negotiate the ransom…..if you’re lucky you’ll get the phone call.

  11. two comments:

    1. I think I understand the Conoco settlement. Conoco had good legal advice. A settlement agreement is much easier to enforce than an intetnational arbitrtration award. The settlement agreement would have required that Venezuela waive all its considerable defenses to the arbiration award including impirtantly jurisdiction and arbitrabity defenses that would have been time consuming. Conoco is simply improving its position in the collection line. Look for the other oil companies to do the same.

    2. Heading to the breakdown….I hope but do not think it is inevitable that the Chavistas will fall when the inevitable major default occurs. I suspect before or as that happens the Chavistas will declare a state of emergency requiring the imposition of their unitary rule coupled with the confiscation of private business. The government’s offer to pay all wages for 90 days will result in large debts for private business which will be the partial excuse for their confiscation along with the breakdown of the economy. The question then will be whether there will be an external intervention which I do not think will happen other than sanctions. I hope I am wrong but I see a Cuba like ending not an eastern europe ending.

    • Mattis around SA capitols recently, joint military/naval exercises with Colombia next month–a shot across the bow–Ven. military only has some 6-9 months max left to make things right. The U.S. will NOT allow the complete Cubanization of Venezuela!!

  12. Bill C,
    Both good points. On no. 2, the government cant afford to run so many companies into the ground. Cuba had to stop carrying a lot of their government employees, even though they paid them in play money. So really it’s taking them over, stealing the office supplies, and shutting them down. Funny how the USSR died, but it’s spawn Cuba lived on to further the “revolutionary” cause. Lenin’s legacy.

    • BR and WC Crime lawyers will know better than me, but I could see that creditors of Venny would want that money put in trust to be available to pay off creditors and not returned to pdvsa. But, it is possible Uncle Sam lines his pockets with it. They are deep and empty, so every little bit helps.

  13. I see Cuba as a mommified country were nothing happens to raise the hopes of a better life , were every thing is preserved in a state of perpetual ‘stasis’ or ‘inmobility’ , a dry , dead, withered, lifeless mummy , where life is only allowed to flow where tourists can be attracted to spend their money !!

  14. I am convinced that the gold mine deals are money stolen from Venezuela , that corrupt people bribed some officials to give them those rights without paying their true value , and that when the regime for whatever reason revoked those rights they were probably acting correctly (although likely for the purpose of dealing those rights to others in exchange for new bribes) ….., Conoco got what it deserved to be paid fo having their assets taken from them , not everyone making a claim however deserves the same consideration ……., specially when the international company making the claims are basing them on some deal they got from paying bribes to corrupt officials ……the courts of course are not wise to how things are done in Venezuela , they just apply the law , but its not always a pretty story of ‘justice being done’ , lots of people deaing with our govts are a bunch of crooks….!!

    • Bill B: it is typical in US lawsuits to throw in a bunch of boilerplate defenses including “unclean hands” (derives from old English courts of equity – does not apply in Louisiana, but I digress. Its up to Venezuela, when fighting the claims, to prove that they were obtained by illegal (under US or Venny or both) law. But, that requires Venny to admit how they do business.

  15. “I see Cuba as a mommified country”….
    I realize now that it’s a typo but at first I thought Cuba has a “snowflake” problem that I was not aware of……

  16. Damn, first one I’ve ever felt in my life. Still feeling tremors.

    Don’t know where the epicenter is, but it was strong here. No damage though that I can see.

    • I just got off work and my wife just told me.

      I’m not a religious man and don’t believe in divine intervention, but Maduro either shitted his pants, or he’s going to do a cadena explaining how his policies are shaking up the Gringos and world order.

      Except it didn’t touch us Gringos.

      • Maduro has already proclaimed that the tremor was sponsored by Colombia with backing from the US. Several persons already under arrest and more to come.

    • BTW, I was drinking beer and making curry on Margarita. My friend asked me, did you feel anything. I was like no. He was like, I think it is an earthquake. I was like whatever, just kept drinking my beer. Then whatsapp started to light up with people on the mainland and Trini talking about it. Really, on Margarita (near Porlamar) we didnt feel anything if you were on ground level drinking beer surrounded by trees and a parrilla.

      Never will live in a high rise apartment complex in this shithole: where there is rampant corruption, c(&ts build shit with beach sand, literally village idiots put the shit together and all the while sifrino “engineers” in designer clothes sip whiskey in air conditioning at some restaurant when they really should be supervising the village idiots. That is how it really works in this shithole and why a REAL EARTHQUAKE would be totally devastating here.

      This one was just a warning that distracted the nations attention away from the real problem wreaking havoc all over Venezuela: Nicholas Maduro and Socialismo del Siglo 21.

    • Stepson in Tachrica says they felt it there, though nothing like what we had here. He spoke to his sister who’s in Pta. La Cruz, also close to the epicenter. She’s fine. Her mom has not been able to get in touch with her though at least she knows all is well.

      10.76°N / 62.89°W

  17. The defense that contracts were procured by fraud certainly will be available to any successor government and I believe would be available in a bankruptcy proceeding in the U S. I agree with the commentors who don’t believe contracts procured by bribery should be enforceable. The financial rape of Venezuela is an abomination.

  18. I posted details in another discussion

    EQ 7.3 Richter
    15:31 local time
    Exact Location: 10.379 N; 62.911 West (around 40 km ENE of Carupano
    Depth: 123 Km

    Hoping for the best outcome

      • Where do you think the soldiers ran when this hit?
        Too bad there wasn’t another military review going on. The video would have been priceless!
        We can only hope that a national guard barracks collapsed.

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