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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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Clinton-Yeltsin docs shine a light on why Deep State hates Putin (Video)

The Duran – News in Review – Episode 114.

Alex Christoforou

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Bill Clinton and America ruled over Russia and Boris Yeltsin during the 1990s. Yeltsin showed little love for Russia and more interest in keeping power, and pleasing the oligarchs around him.

Then came Vladimir Putin, and everything changed.

Nearly 600 pages of memos and transcripts, documenting personal exchanges and telephone conversations between Bill Clinton and Boris Yeltsin, were made public by the Clinton Presidential Library in Little Rock, Arkansas.

Dating from January 1993 to December 1999, the documents provide a historical account of a time when US relations with Russia were at their best, as Russia was at its weakest.

On September 8, 1999, weeks after promoting the head of the Russia’s top intelligence agency to the post of prime minister, Russian President Boris Yeltsin took a phone call from U.S. President Bill Clinton.

The new prime minister was unknown, rising to the top of the Federal Security Service only a year earlier.

Yeltsin wanted to reassure Clinton that Vladimir Putin was a “solid man.”

Yeltsin told Clinton….

“I would like to tell you about him so you will know what kind of man he is.”

“I found out he is a solid man who is kept well abreast of various subjects under his purview. At the same time, he is thorough and strong, very sociable. And he can easily have good relations and contact with people who are his partners. I am sure you will find him to be a highly qualified partner.”

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the nearly 600 pages of transcripts documenting the calls and personal conversations between then U.S. President Bill Clinton and Russian President Boris Yeltsin, released last month. A strong Clinton and a very weak Yeltsin underscore a warm and friendly relationship between the U.S. and Russia.

Then Vladimir Putin came along and decided to lift Russia out of the abyss, and things changed.

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Here are five must-read Clinton-Yeltsin exchanges from with the 600 pages released by the Clinton Library.

Via RT

Clinton sends ‘his people’ to get Yeltsin elected

Amid unceasing allegations of nefarious Russian influence in the 2016 presidential election, the Clinton-Yeltsin exchanges reveal how the US government threw its full weight behind Boris – in Russian parliamentary elections as well as for the 1996 reelection campaign, which he approached with 1-digit ratings.

For example, a transcript from 1993 details how Clinton offered to help Yeltsin in upcoming parliamentary elections by selectively using US foreign aid to shore up support for the Russian leader’s political allies.

“What is the prevailing attitude among the regional leaders? Can we do something through our aid package to send support out to the regions?” a concerned Clinton asked.

Yeltsin liked the idea, replying that “this kind of regional support would be very useful.” Clinton then promised to have “his people” follow up on the plan.

In another exchange, Yeltsin asks his US counterpart for a bit of financial help ahead of the 1996 presidential election: “Bill, for my election campaign, I urgently need for Russia a loan of $2.5 billion,” he said. Yeltsin added that he needed the money in order to pay pensions and government wages – obligations which, if left unfulfilled, would have likely led to his political ruin. Yeltsin also asks Clinton if he could “use his influence” to increase the size of an IMF loan to assist him during his re-election campaign.

Yeltsin questions NATO expansion

The future of NATO was still an open question in the years following the collapse of the Soviet Union, and conversations between Clinton and Yeltsin provide an illuminating backdrop to the current state of the curiously offensive ‘defensive alliance’ (spoiler alert: it expanded right up to Russia’s border).

In 1995, Yeltsin told Clinton that NATO expansion would lead to “humiliation” for Russia, noting that many Russians were fearful of the possibility that the alliance could encircle their country.

“It’s a new form of encirclement if the one surviving Cold War bloc expands right up to the borders of Russia. Many Russians have a sense of fear. What do you want to achieve with this if Russia is your partner? They ask. I ask it too: Why do you want to do this?” Yeltsin asked Clinton.

As the documents show, Yeltsin insisted that Russia had “no claims on other countries,” adding that it was “unacceptable” that the US was conducting naval drills near Crimea.

“It is as if we were training people in Cuba. How would you feel?” Yeltsin asked. The Russian leader then proposed a “gentleman’s agreement” that no former Soviet republics would join NATO.

Clinton refused the offer, saying: “I can’t make the specific commitment you are asking for. It would violate the whole spirit of NATO. I’ve always tried to build you up and never undermine you.”

NATO bombing of Yugoslavia turns Russia against the West

Although Clinton and Yeltsin enjoyed friendly relations, NATO’s bombing of Yugoslavia tempered Moscow’s enthusiastic partnership with the West.

“Our people will certainly from now have a bad attitude with regard to America and with NATO,” the Russian president told Clinton in March 1999. “I remember how difficult it was for me to try and turn the heads of our people, the heads of the politicians towards the West, towards the United States, but I succeeded in doing that, and now to lose all that.”

Yeltsin urged Clinton to renounce the strikes, for the sake of “our relationship” and “peace in Europe.”

“It is not known who will come after us and it is not known what will be the road of future developments in strategic nuclear weapons,” Yeltsin reminded his US counterpart.

But Clinton wouldn’t cede ground.

“Milosevic is still a communist dictator and he would like to destroy the alliance that Russia has built up with the US and Europe and essentially destroy the whole movement of your region toward democracy and go back to ethnic alliances. We cannot allow him to dictate our future,” Clinton told Yeltsin.

Yeltsin asks US to ‘give Europe to Russia’

One exchange that has been making the rounds on Twitter appears to show Yeltsin requesting that Europe be “given” to Russia during a meeting in Istanbul in 1999. However, it’s not quite what it seems.

“I ask you one thing,” Yeltsin says, addressing Clinton. “Just give Europe to Russia. The US is not in Europe. Europe should be in the business of Europeans.”

However, the request is slightly less sinister than it sounds when put into context: The two leaders were discussing missile defense, and Yeltsin was arguing that Russia – not the US – would be a more suitable guarantor of Europe’s security.

“We have the power in Russia to protect all of Europe, including those with missiles,” Yeltsin told Clinton.

Clinton on Putin: ‘He’s very smart’

Perhaps one of the most interesting exchanges takes place when Yeltsin announces to Clinton his successor, Vladimir Putin.

In a conversation with Clinton from September 1999, Yeltsin describes Putin as “a solid man,” adding: “I am sure you will find him to be a highly qualified partner.”

A month later, Clinton asks Yeltsin who will win the Russian presidential election.

“Putin, of course. He will be the successor to Boris Yeltsin. He’s a democrat, and he knows the West.”

“He’s very smart,” Clinton remarks.

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New Satellite Images Reveal Aftermath Of Israeli Strikes On Syria; Putin Accepts Offer to Probe Downed Jet

The images reveal the extent of destruction in the port city of Latakia, as well as the aftermath of a prior strike on Damascus International Airport.

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Via Zerohedge


An Israeli satellite imaging company has released satellite photographs that reveal the extent of Monday night’s attack on multiple locations inside Syria.

ImageSat International released them as part of an intelligence report on a series of Israeli air strikes which lasted for over an hour and resulted in Syrian missile defense accidentally downing a Russian surveillance plane that had 15 personnel on board.

The images reveal the extent of destruction on one location struck early in attack in the port city of Latakia, as well as the aftermath of a prior strike on Damascus International Airport. On Tuesday Israel owned up to carrying out the attack in a rare admission.

Syrian official SANA news agency reported ten people injured in the attacks carried out of military targets near three major cities in Syria’s north.

The Times of Israel, which first reported the release of the new satellite images, underscores the rarity of Israeli strikes happening that far north and along the coast, dangerously near Russian positions:

The attack near Latakia was especially unusual because the port city is located near a Russian military base, the Khmeimim Air Force base. The base is home to Russian jet planes and an S-400 aerial defense system. According to Arab media reports, Israel has rarely struck that area since the Russians arrived there.

The Russian S-400 system was reportedly active during the attack, but it’s difficult to confirm or assess the extent to which Russian missiles responded during the strikes.

Three of the released satellite images show what’s described as an “ammunition warehouse” that appears to have been completely destroyed.

The IDF has stated their airstrikes targeted a Syrian army facility “from which weapons-manufacturing systems were supposed to be transferred to Iran and Hezbollah.” This statement came after the IDF expressed “sorrow” for the deaths of Russian airmen, but also said responsibility lies with the “Assad regime.”

Israeli Prime Minister Benjamin Netanyahu also phoned Russian President Vladimir Putin to express regret over the incident while offering to send his air force chief to Russia with a detailed report — something which Putin agreed to.

According to Russia’s RT News, “Major-General Amikam Norkin will arrive in Moscow on Thursday, and will present the situation report on the incident, including the findings of the IDF inquiry regarding the event and the pre-mission information the Israeli military was so reluctant to share in advance.”

Russia’s Defense Ministry condemned the “provocative actions by Israel as hostile” and said Russia reserves “the right to an adequate response” while Putin has described the downing of the Il-20 recon plane as likely the result of a “chain of tragic accidental circumstances” and downplayed the idea of a deliberate provocation, in contradiction of the initial statement issued by his own defense ministry.

Pro-government Syrians have reportedly expressed frustration this week that Russia hasn’t done more to respond militarily to Israeli aggression; however, it appears Putin may be sidestepping yet another trap as it’s looking increasingly likely that Israel’s aims are precisely geared toward provoking a response in order to allow its western allies to join a broader attack on Damascus that could result in regime change.

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“Transphobic” Swedish Professor May Lose Job After Noting Biological Differences Between Sexes

A university professor in Sweden is under investigation after he said that there are fundamental differences between men and women which are “biologically founded”

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Via Zerohedge


A university professor in Sweden is under investigation for “anti-feminism” and “transphobia” after he said that there are fundamental differences between men and women which are “biologically founded” and that genders cannot be regarded as “social constructs alone,” reports Academic Rights Watch.

For his transgression, Germund Hesslow – a professor of neuroscience at Lund University – who holds dual PhDs in philosophy and neurophysiology, may lose his job – telling RT that a “full investigation” has been ordered, and that there “have been discussions about trying to stop the lecture or get rid of me, or have someone else give the lecture or not give the lecture at all.”

“If you answer such a question you are under severe time pressure, you have to be extremely brief — and I used wording which I think was completely innocuous, and that apparently the student didn’t,” Hesslow said.

Hesslow was ordered to attend a meeting by Christer Larsson, chairman of the program board for medical education, after a female student complained that Hesslow had a “personal anti-feminist agenda.” He was asked to distance himself from two specific comments; that gay women have a “male sexual orientation” and that the sexual orientation of transsexuals is “a matter of definition.”

The student’s complaint reads in part (translated):

I have also heard from senior lecturers that Germund Hesslow at the last lecture expressed himself transfobically. In response to a question of transexuallism, he said something like “sex change is a fly”. Secondly, it is outrageous because there may be students during the lecture who are themselves exposed to transfobin, but also because it may affect how later students in their professional lives meet transgender people. Transpersonals already have a high level of overrepresentation in suicide statistics and there are already major shortcomings in the treatment of transgender in care, should not it be countered? How does this kind of statement coincide with the university’s equal treatment plan? What has this statement given for consequences? What has been done for this to not be repeated? –Academic Rights Watch

After being admonished, Hesslow refused to distance himself from his comments, saying that he had “done enough” already and didn’t have to explain and defend his choice of words.

At some point, one must ask for a sense of proportion among those involved. If it were to become acceptable for students to record lectures in order to find compromising formulations and then involve faculty staff with meetings and long letters, we should let go of the medical education altogether,” Hesslow said in a written reply to Larsson.

He also rejected the accusation that he had a political agenda – stating that his only agenda was to let scientific factnot new social conventions, dictate how he teaches his courses.

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