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CONFIRMED: Venezuela dumps Dollar for good

The move is remarkably similar to one taken by Iraq in the year 2000.

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The government of Venezuela has confirmed that it is ceasing the sales of its vast oil reverse in the US Dollar. The move will help the oil rich South American country dodge the unilateral sanctions recently passed by the US. US sanctions and threats of military action against Venezuela have been roundly condemned by both Russia and China.

Venezuela will begin trading oil in Euros. A similar move was made by the Iraqi government in the year 2000.

As the Duran previously reported,

“In an address to a new legislative superbody, Maduro said:

“I am announcing that Venezuela intends to introduce a new international payment system and to create a currency basket for the liberation from the dollar and, [we intend] to free ourselves from the clutches of the dollar, the currency that is strangling our country.”

“If they pursue us with the dollar, we’ll use the Russian rouble, the yuan, yen, the Indian rupee, the euro,” Maduro said.

Maduro plans to use the weakest of two official foreign exchange regimes and a basket of currencies. Currently in Venezuela, one dollar buys 3,345 bolivars, according to the central bank. At the strongest official rate, one dollar buys just 10 bolivars, but on the black market the dollar fetches 20,193 bolivars. A thousand dollars of local currency bought when Maduro came to power in 2013 would now only be worth $1.20.

 On August 25, US President Donald Trump signed an executive order imposing financial sanctions on the Venezuelan government. The White House said the measures were “carefully calibrated” to put financial pressure on Maduro’s government.

Its important to note that Venezuela sits on the largest amount of oil reserves in the world:

Reserves amounts are listed in millions of barrels (MMbbl):

READ MORE: Trump isn’t going to Invade Venezuela, but what he’s planning might be just as bad

The United States previously threatened to sanction anyone involved with the Constituent Assembly, which was elected on July 30.

The Constituent Assembly is a legislative body, which has the power to amend Venezuela’s constitution. The election of the assembly took place amid mass, deadly protests across the country. Venezuelan opposition, as well as the European Union and the United States, have refused to recognize the body’s legitimacy.

Maduro says this is part of an “economic war” waged by the opposition and Washington, aimed at his ouster.

“This is the fight against the economic blockade of the imperial sanctions of (U.S. President Donald) Trump,” said Maduro.

Will Venezuela and Nicolas Maduro share the same fate as Iraq and Saddam Hussein?”

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7awmee7
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7awmee7

Will the Third World one day colonise those who enslaved them for centuries. No. But economic war is going on with BRICS. Soon other Third World countries will join in . Especially those which have precious raw materials. God bless.

Keith Smith
Guest
Keith Smith

every nation in history has been owners of slaves and slaves at some point. Look at the pyramids. Not as if slavery is more rampant than ever before atm is it? white eastern european women etc

JNDillard
Guest
JNDillard

Were the workers who built the Great Pyramid slaves? A common myth, going back to Heroditus, who was as separated from its construction in time as we are from Heroditus. https://www.theguardian.com/world/2010/jan/11/great-pyramid-tombs-slaves-egypt

Keith Smith
Guest
Keith Smith

not going to use a guardian link for any fact checking. full of yellow journalism and they dont pay UK taxes

FlorianGeyer
Guest
FlorianGeyer

Slavery today in the West utilises the Chains of Debt . Even those citizens without debt are forced to pay government debt via taxation and very low interest rates.

Keith Smith
Guest
Keith Smith

There are more people in slavery today than in any period of history, and it isnt the West enslaving them

Dow Jones
Guest
Dow Jones

The right thing to do, felicidades. Now together with Russia and China finally flush the blood-spattered IOU petroscrip I$I$ backed Saudi Mercan dollah from the Ponzi sewer of Wall St. When the “exorbitant privilege” of the anglozionazi matrix of terror and death at everyone else’s cost is removed…see how long free loader war mongering thug USSA can survive without his worthless fiat filth mafia scrip and Pentacon goons enforcing the protection racket yanquis call “the Amerikan way of life.” The Potemkin Village idiot “economy” of USSA has a date with reality and its next war will be the long awaited… Read more »

Robert Atack
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Robert Atack

I think we actually know how many Russian roubles, the yuan, yen, the Indian rupee, and euros there are in existence, as opposed to the US dollar, who the hell knows how many of those are floating around?

santiago
Guest
santiago

Do a search of Money Supply M1 and M2, it won’t take you more than a minute, literally, to find out.

lickeyleaks
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lickeyleaks

Would be good to see US pay in Roubles or Yuan,,

Tommy Jensen
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Tommy Jensen

American Jew Dollares or Israeli Jew Shekels are the only currencies allowed in international trade. Everything else is illegal.

TravelAbout
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TravelAbout

Better watch out Venezuela, “democracy” is about to be brought to your country care of that shining beacon of freedom known as the UC of A (United Corporations of America).

ghartwell
Guest

Signpost to major fork in the road. USA or Japan amy overthrow khazarian mafia – as Benjamin Fulford calls the central bankers – very soon. USA cannot afford to pay interest on her debt this month but someone gave them cash to go another 90 days. Have you ever gone bankrupt. Borrowing to pay interest on other debts, etc.? You can’t hold out forever. Gold-backed currencies soon. Major change soon. Buy gold or silver or Bitcoin.

Penrose
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Penrose

Why does money need to be backed by a mineral or a piece of interest demanding paper at some private bank?

“”We were not foolish enough to try to make a currency [backed by] gold of which we had none, but for every xxxx that was issued we required the equivalent of a xxxx’s worth of work done or goods produced … we laugh at the time our national financiers held the view that the value of a currency is regulated by the gold and securities lying in the vaults of a state bank.”

ghartwell
Guest

Fiat currency is backed by one’s confidence in the promises of a government. What does that say about the value of the US$?

Copper, nickel, gold coins actually contain the metal value of the face value. No trust required. You just need the Russians on your side so USA/NATO doesn’t steal your reserves. (Think Libya, Ukraine, etc.)

Penrose
Guest
Penrose

RE: Fiat currency is backed by one’s confidence in the promises of a government.

Exactly. But should have nothing to do with Central Banks (privately owned to boot) creating interest bearing loans.

Good (responsible) government. Good money. Bad (irresponsible) government. Bad money. What could be simpler?

Oh wait. So you mean we would actually have to figure out how to put a good, responsible government into power? Isn’t it about time we did that? Or should we continue to use the tried and true mistakes of the past and create endless wars and disasters?

JNDillard
Guest
JNDillard

Declare a national debt jubilee. Start over. Rinse. Repeat.

Franz Kafka
Guest
Franz Kafka

Is FUCK THE USA too strong? Since they are an assembly of vassals run by psychopath warlords who want to kill anyone they want to kill… I think it is too gentle.

Juan Perez
Guest
Juan Perez

It seems that Maduro is beginning to do what economist Peter Koenig recommended
http://theduran.com/venezuela-open-letter-to-president-nicolas-maduro/

Hamud Mohamed
Guest
Hamud Mohamed

I commend the Bolivarian nation for dumping the dumb dollar, they also should also dump the US allied Fascists

Constantine
Guest
Constantine

Bravo to Venezuela. Let the struggle begin. Hopefully, Russia will provide aid to Venezuela through intensive cooperation. After all, the country’s leftist government (one reason to be targeted by the US) defied Washington and recognized Crimea’s referendum and unification with Russia (another reason for the neocons to destroy the Venezuelan government)..

Shahna
Guest

“Will Venezuela and Nicolas Maduro share the same fate as Iraq and Saddam Hussein?”

The US has already been warned off … by Russia,

Ray Comeau
Guest
Ray Comeau

I thin the USA will listen to Russia. The USA should stay the hell home and leave other sovereign countries in peace. The United Nations should should declare the UYSA as the worlds worst terrorist nation.

bogart1
Guest
bogart1

Haven’t the populaces of North Korea, Venezuela, Yemen, Libya, etc suffered enough? Sanctions will not work. The increasingly indebted and overextended USA is living out in front of humanity the process from “Apocalpyse Now”: ” I’d wake up and there’d be nothing. I hardly said a word to my wife, until I said “yes” to a divorce. When I was here, I wanted to be there; when I was there, all I could think of was getting back into the jungle. I’m here a week now… waiting for a mission… getting softer. Every minute I stay in this room, I… Read more »

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US media suffers panic attack after Mueller fails to deliver on much-anticipated Trump indictment

Internet mogul Kim Dotcom said it all: “Mueller – The name that ended all mainstream media credibility.”

RT

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Via RT


Important pundits and news networks have served up an impressive display of denials, evasions and on-air strokes after learning that Robert Mueller has ended his probe without issuing a single collusion-related indictment.

The Special Counsel delivered his final report to Attorney General William Barr for review on Friday, with the Justice Department confirming that there will be no further indictments related to the probe. The news dealt a devastating blow to the sensational prophesies of journalists, analysts and entire news networks, who for nearly two years reported ad nauseam that President Donald Trump and his inner circle were just days away from being carted off to prison for conspiring with the Kremlin to interfere in the 2016 presidential election.

Showing true integrity, journalists and television anchors took to Twitter and the airwaves on Friday night to acknowledge that the media severely misreported Donald Trump’s alleged ties to Russia, as well as what Mueller’s probe was likely to find. They are, after all, true professionals.

“How could they let Trump off the hook?” an inconsolable Chris Matthews asked NBC reporter Ken Dilanian during a segment on CNN’s ‘Hardball’.

Dilanian tried to comfort the CNN host with some of his signature NBC punditry.

“My only conclusion is that the president transmitted to Mueller that he would take the Fifth. He would never talk to him and therefore, Mueller decided it wasn’t worth the subpoena fight,” he expertly mused.

Actually, there were several Serious Journalists who used their unsurpassed analytical abilities to conjure up a reason why Mueller didn’t throw the book at Trump, even though the president is clearly a Putin puppet.

“It’s certainly possible that Trump may emerge from this better than many anticipated. However! Consensus has been that Mueller would follow DOJ rules and not indict a sitting president. I.e. it’s also possible his report could be very bad for Trump, despite ‘no more indictments,'” concluded Mark Follman, national affairs editor at Mother Jones, who presumably, and very sadly, was not being facetious.

Revered news organs were quick to artfully modify their expectations regarding Mueller’s findings.

“What is collusion and why is Robert Mueller unlikely to mention it in his report on Trump and Russia?” a Newsweek headline asked following Friday’s tragic announcement.

Three months earlier, Newsweek had meticulously documented all the terrible “collusion” committed by Donald Trump and his inner circle.

But perhaps the most sobering reactions to the no-indictment news came from those who seemed completely unfazed by the fact that Mueller’s investigation, aimed at uncovering a criminal conspiracy between Trump and the Kremlin, ended without digging up a single case of “collusion.”

The denials, evasions and bizarre hot takes are made even more poignant by the fact that just days ago, there was still serious talk about Trump’s entire family being hauled off to prison.

“You can’t blame MSNBC viewers for being confused. They largely kept dissenters from their Trump/Russia spy tale off the air for 2 years. As recently as 2 weeks ago, they had @JohnBrennan strongly suggesting Mueller would indict Trump family members on collusion as his last act,” journalist Glenn Greenwald tweeted.

While the Mueller report has yet to be released to the public, the lack of indictments makes it clear that whatever was found, nothing came close to the vast criminal conspiracy alleged by virtually the entire American media establishment.

“You have been lied to for 2 years by the MSM. No Russian collusion by Trump or anyone else. Who lied? Head of the CIA, NSA,FBI,DOJ, every pundit every anchor. All lies,” wrote conservative activist Chuck Woolery.

Internet mogul Kim Dotcom was more blunt, but said it all: “Mueller – The name that ended all mainstream media credibility.”

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Canadian Lawmaker Accuses Trudeau Of Being A “Fake Feminist” (Video)

Rempel segued to Trudeau’s push to quash an investigation into allegations that he once groped a young journalist early in his political career

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Via Zerohedge

Canada’s feminist-in-chief Justin Trudeau wants to support and empower women…but his support stops at the point where said women start creating problems for his political agenda.

That was the criticism levied against the prime minister on Friday by a conservative lawmaker, who took the PM to task for “muzzling strong, principled women” during a debate in the House of Commons.

“He asked for strong women, and this is what they look like!” said conservative MP Michelle Rempel, referring to the former justice minister and attorney general Jody Wilson-Raybould, who has accused Trudeau and his cronies of pushing her out of the cabinet after she refused to grant a deferred prosecution agreement to a Quebec-based engineering firm.

She then accused Trudeau of being a “fake feminist”.

“That’s not what a feminist looks like…Every day that he refuses to allow the attorney general to testify and tell her story is another day he’s a fake feminist!”

Trudeau was so taken aback by Rempel’s tirade, that he apparently forgot which language he should respond in.

But Rempel wasn’t finished. She then segued to Trudeau’s push to quash an investigation into allegations that he once groped a young journalist early in his political career. This from a man who once objected to the continued use of the word “mankind” (suggesting we use “peoplekind” instead).

The conservative opposition then tried to summon Wilson-Raybould to appear before the Commons for another hearing (during her last appearance, she shared her account of how the PM and employees in the PM’s office and privy council barraged her with demands that she quash the government’s pursuit of SNC-Lavalin over charges that the firm bribed Libyan government officials). Wilson-Raybould left the Trudeau cabinet after she was abruptly moved to a different ministerial post – a move that was widely seen as a demotion.

Trudeau has acknowledged that he put in a good word on the firm’s behalf with Wilson-Raybould, but insists that he always maintained the final decision on the case was hers and hers alone.

Fortunately for Canadians who agree with Rempel, it’s very possible that Trudeau – who has so far resisted calls to resign – won’t be in power much longer, as the scandal has cost Trudeau’s liberals the lead in the polls for the October election.

 

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Why Joe May be Courting Stacey

Joe Biden has a history on compulsory integration dating back to the 1970s that Sen. Jesse Helms called “enlightened.”

Patrick J. Buchanan

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Authored by Patrick Buchanan via The Unz Review:


Of 895 slots in the freshman class of Stuyvesant High in New York City, seven were offered this year to black students, down from 10 last year and 13 the year before.

In the freshman class of 803 at The Bronx High School of Science, 12 students are black, down from last year’s 25.

Of 303 students admitted to Staten Island Technical High School, one is African-American.

According to The New York Times, similar patterns of admission apply at the other five most elite high schools in the city.

Whites and Asians are 30 percent of middle school students, but 83 percent of the freshman at Bronx High School of Science, 88 percent at Staten Island Technical and 90 percent at Stuyvesant.

What do these numbers tell us?

They reveal the racial composition of the cohort of scientists and technicians who will lead America in the 21st century. And they tell us which races will not be well represented in that vanguard.

They identify a fault line that runs through the Democratic Party, separating leftists who believe in equality of results for all races and ethnic groups, and those who believe in a meritocracy.

Mayor Bill de Blasio has expressed anger and frustration at the under-representation of blacks and Hispanics in the elite schools. But Gov. Andrew Cuomo and the state legislature have ignored his pleas to change the way students are admitted.

Currently, the same test, of English and math, is given to middle school applicants. And admission to the elite eight is offered to those who get the highest scores.

Moreover, Asians, not whites, are predominant.

Though 15 percent of all middle school students, Asians make up two-thirds of the student body at Stuyvesant, with 80 times as many slots as their African-American classmates.

The egalitarian wing of the Democratic Party sees this as inherently unjust. And what gives this issue national import are these factors:

First, the recent scandal where rich parents paid huge bribes to criminal consultants to get their kids into elite colleges, by falsifying records of athletic achievement and cheating on Scholastic Aptitude Tests, has caused a wave of populist resentment.

Second, Harvard is being sued for systemic reverse racism, as black and Hispanic students are admitted with test scores hundreds of points below those that would disqualify Asians and whites.

Third, Joe Biden has a history on compulsory integration dating back to the 1970s that Sen. Jesse Helms called “enlightened.”

Here are Biden’s quotes, unearthed by The Washington Post, that reflect his beliefs about forced busing for racial balance in public schools:

“The new integration plans being offered are really just quota systems to assure a certain number of blacks, Chicanos, or whatever in each school. That, to me, is the most racist concept you can come up with.

“What it says is, ‘In order for your child with curly black hair, brown eyes, and dark skin to be able to learn anything, he needs to sit next to my blond-haired, blue-eyed son.’ That’s racist!

“Who the hell do we think we are, that the only way a black man or woman can learn is if they rub shoulders with my white child?

“I am philosophically opposed to quota systems. They insure mediocrity.”

That was 44 years ago. While those views were the thinking of many Democrats, and perhaps of most Americans, in the mid-’70s, they will be problematic in the 2020 primaries, where African-Americans could be decisive in the contests that follow Iowa and New Hampshire.

Biden knows that just as Bernie Sanders, another white male, fell short in crucial South Carolina because of a lack of support among black voters, he, too, has a problem with that most loyal element in the Democratic coalition.

In 1991, Biden failed to rise to the defense of Anita Hill when she charged future Justice Clarence Thomas with sexual harassment. In the Senate Judiciary Committee, he was a law-and-order champion responsible for tough anti-crime legislation that is now regarded as discriminatory.

And he has a record on busing for racial balance that made him a de facto ally of Louise Day Hicks of the Boston busing case fame.

How, with a record like this, does Biden inoculate himself against attacks by rival candidates, especially candidates of color, in his run for the nomination?

One way would be to signal to his party that he has grown, he has changed, and his 2020 running mate will be a person of color. Perhaps he’ll run with a woman of color such as Stacey Abrams, who narrowly lost the 2018 governor’s race in Georgia.

An ancillary benefit would be that Abrams on the ticket would help him carry Georgia, a state Donald Trump probably cannot lose and win re-election.

Wrote Axios this morning:

“Close advisers to former Vice President Joe Biden are debating the idea of packaging his presidential campaign announcement with a pledge to choose Stacey Abrams as his vice president.”


Patrick J. Buchanan is the author of “Nixon’s White House Wars: The Battles That Made and Broke a President and Divided America Forever.”

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