Dawn of the new oil era, Venezuela’s hyperinflation and the ‘holy Trinity’

how that corresponds to current Venezuela crisis and what is the current role of US in ‘OPEC’ umbrella institution, Russia& China’s involvement one needs to get back to the year 1999

When crisis show sign of State weakness the first step many dictators likes to play is to shift the blame and stumble at the first ideological hurdle, into authoritarian one, anti-imperialism and anti-globalism rhetoric follows naturally that fortifies the real cause-effect,equality becomes in-equality and poverty rises just like a virus that spreads slowly, first sign indicates at national currency hyperinflation, as a consequence on Venezuela’s case the collapse of global oil price index,

crisis inflation in Venezuela

with core divided society into two camps, loyal to interim -president Guaido and State controlled authoritarian Capo, Maduro, who ironically improvised and introduced the national crypto-currency petrol coin as the mean to circumvent the sanction of US pegged oil trade dollar, as biggest oil production countries under the OPEC Umbrella have exclusively US dollar as only means of trade. Unlike the petrol coin-Maduro’s project,that remains anonymous and marginalized to majority of OPEC trading countries

hyperinflation today/photo by Leonardo G

No doubt people of Venezuela are facing existential crisis and exodus of biblical proportion , according to UNHCR statistic more the 3 million people migrated during the 2018 alone, and the latest twist with power shortages and lack of essential water, food and medicine supply adds the drama and anguish people are going through, many nation went through similar nightmare on their path to freedom,(remember Kosovo!) only question remains for how long?

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