Venuezuela’s socialist nightmare could be ending; Military no longer ‘faithful’

Venezuelan opposition supporters take to the streets to protest against the government of President Nicolas Maduro on Jan. 23. / Yuri Cortex / AFP / Getty Images

 

With support from the U.S., opposition leaders in Venezuela have sparked what they hope is the beginning of the end of the socialist regime of President Nicolas Maduro.

Reports on the ground say smaller-scale demonstrations that began on Jan. 21 began to spread on Jan. 22 with protests erupting in more than 60 neighborhoods across Caracas and in interior states.

Maduro to Create Venezuelan Cryptocurrency ‘To Overcome the Financial Blockade’

Venezuelan President Nicolas Maduro / Getty Images

 

Venezuelan President Nicolas Maduro wants his own version of Bitcoin, announcing Sunday that his socialist government will create a cryptocurrency.

Maduro said on his television show that the new “petrocurrency” will be backed by reserves in oil, gas, gold, and diamonds, Bloomberg reports. Bitcoin, the world’s largest digital currency, hit new highs last week, and Maduro declared that his plan will counteract the economic disaster that is befalling the Venezuelan bolivar, which has experienced hyperinflation as the country’s economy has collapsed.

“All I Have Is Hunger” – Many Venezuelans Too Weak To Protest Despite Maduro Misery

 

While tens of thousands of angry Venezuelans turned out for the ‘mother of all protests’ yesterday, facing an increasingly hostile military/police state, the numbers could have been significantly larger but for the fact that legions of poor Venezuelans are simply too frail from starvation to protest.

Some say they are intimidated by armed pro-government militias who scour the slums for signs of dissent. Others say they are afraid to lose the few food handouts the cash-strapped government still provides.

“We wear our protest on the inside for the fear of losing our bag of food,” said San Félix resident Luisa Gutiérrez, a single mother of three.

Venezuela Orders Largest Bills Turned in Ahead of New Bank Notes

Take cash away from the citizens and, in theory, they can’t make a run on the banks and spark a full economic collapse.

Take cash away from the citizens and they can’t have full economic control over their own lives.

 

• Maduro says move to fight smuggling, currency attacks
• 100-bolivar bills must be out of circulation in 72 hours

Venezuela’s government ordered all 100-bolivar bank notes out of circulation within 72 hours, amid a hard cash shortage and the scheduled release this week of bigger bank notes.

Venezuela Raises Fuel Prices By More Than 6,000 Percent

In a televised-address on February 17, Venezuelan President Nicolas Maduro delivered some crushing news to his country.

To address the fiscal crisis facing the country, the government decided to raise fuel prices by more than 6,000 percent. While that may sound dramatic, it will still leave Venezuela with some of the cheapest fuel in the world. Prices for 95 octane gasoline at the pump will jump from 0.097 bolivars to 6 bolivars. It was the first increase in fuel prices in 20 years.

Food seizures begin: Venezuela farmers ordered to turn over their food to the government

(NaturalNews) As Venezuela’s economy continues to worsen — its currency having entered “free fall mode,” according to the Financial Times — the desperate Maduro government has taken the extreme measure of nationalizing the nation’s food industry.

Venezuelan farmers and food producers are now required to sell anywhere from 30 percent to 100 percent of their products to state-owned stores. The order covers staple foods such as rice, milk, oil, sugar and flour.