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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
Guest
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
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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
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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
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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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Why did Trump recognize the Golan Heights as Israeli territory?

The Duran Quick Take: Episode 116.

Alex Christoforou

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The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris examine the reasons behind US President Trump’s sudden recognition of the Golan Heights as Israeli territory.

Following Trump’s statements as US President, acting Israeli Foreign Minister is saying that Trump will make it official and sign an executive order to recognize Israel’s sovereignty over the Syrian border territory on Monday.

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Via DW

Israel says White House officials are preparing an official document to codify support for Israel’s sovereignty of the Golan Heights, which will be signed by US President Donald Trump on Monday.

The signing of the decree will be witnessed by Israeli Prime Minister Benjamin Netanyahu during talks with Trump at the White House, Israel’s acting foreign minister, Israel Katz (pictured), said in a Tweet.

“Tomorrow, President Trump, in the presence of PM Netanyahu, will sign a decree recognizing Israel’s sovereignty on the Golan. Israel-US ties are closer than ever,” Katz said.

Israel seized the strategic plateau from Syria in the 1967 Middle East war, subsequently annexing it in 1981 in a move never recognized by the international community.

Trump’s tweet annoys allies

Trump broke with decades of US Middle East policy when he posted a Tweet on Thursday that said it was time to accept Israel’s widely-contested claim to the border territory.

The decision has been criticized by many US allies — Germany, Britain, France and the EU have all said they still consider the Golan Heights to be “occupied” by Israel.

Syria and other states in the region said the recognition, if confirmed, would violate international law.

Netanyahu has long pushed for Washington’s endorsement, and many analysts see Trump’s comments as a campaign gift ahead of Israel’s April 9 election.

In 2017, Trump drew condemnation throughout the Middle East when he recognized the disputed city of Jerusalem as Israel’s capital.

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Russia Gives US Red Line On Venezuela

Political force is out. Military force is out. Respect international law and Venezuela’s sovereignty. That’s Russia’s eminently reasonable ultimatum to Washington.

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Authored by Finian Cunningham via The Strategic Culture Foundation:


At a high-level meeting in Rome this week, it seems that Russia reiterated a grave warning to the US – Moscow will not tolerate American military intervention to topple the Venezuelan government with whom it is allied.

Meanwhile, back in Washington DC, President Donald Trump was again bragging that the military option was still on the table, in his press conference with Brazilian counterpart Jair Bolsonaro. Trump is bluffing or not yet up to speed with being apprised of Russia’s red line.

The meeting in the Italian capital between US “special envoy” on Venezuelan affairs Elliot Abrams and Russia’s deputy foreign minister Sergei Ryabkov had an air of urgency in its arrangement. The US State Department announced the tête-à-tête only three days beforehand. The two officials also reportedly held their two-hour discussions in a Rome hotel, a venue indicating ad hoc arrangement.

Abrams is no ordinary diplomat. He is a regime-change specialist with a criminal record for sponsoring terrorist operations, specifically the infamous Iran-Contra affair to destabilize Nicaragua during the 1980s. His appointment by President Trump to the “Venezuela file” only underscores the serious intent in Washington for regime change in Caracas. Whether it gets away with that intent is another matter.

Moscow’s interlocutor, Sergei Ryabkov, is known to not mince his words, having earlier castigated Washington for seeking global military domination. He calls a spade a spade, and presumably a criminal a criminal.

The encounter in Rome this week was described as “frank” and “serious” – which is diplomatic code for a blazing exchange. The timing comes at a high-stakes moment, after Venezuela having been thrown into chaos last week from civilian power blackouts that many observers, including the Kremlin, blame on American cyber sabotage. The power grid outage followed a failed attempt by Washington to stage a provocation with the Venezuelan military over humanitarian aid deliveries last month from neighboring Colombia.

The fact that Washington’s efforts to overthrow the elected President Nicolas Maduro have so far floundered, might suggest that the Americans are intensifying their campaign to destabilize the country, with the objective of installing US-backed opposition figure Juan Guaido. He declared himself “acting president” in January with Washington’s imprimatur.

Given that the nationwide power blackouts seem to have failed in fomenting a revolt by the civilian population or the military against Maduro, the next option tempting Washington could be the military one.

It seems significant that Washington has recently evacuated its last remaining diplomats from the South American country. US Secretary of State Mike Pompeo commented on the evacuation by saying that having US personnel on the ground “was limiting” Washington’s scope for action. Also, American Airlines reportedly cancelled all its services to Venezuela in the past week. Again, suggesting that the US was considering a military intervention, either directly with its troops or covertly by weaponizing local proxies. The latter certainly falls under Abrams’ purview.

After the Rome meeting, Ryabkov said bluntly: “We assume that Washington treats our priorities seriously, our approach and warnings.”

One of those warnings delivered by Ryabkov is understood to have been that no American military intervention in Venezuela will be tolerated by Moscow.

For his part, Abrams sounded as if he had emerged from the meeting after having been given a severe reprimand. “No, we did not come to a meeting of minds, but I think the talks were positive in the sense that both sides emerged with a better understanding of the other’s views,” he told reporters.

“A better understanding of the other’s views,” means that the American side was given a red line to back off.

The arrogance of the Americans is staggering. Abrams seems, according to US reporting, to have flown to Rome with the expectation of working out with Ryabkov a “transition” or “compromise” on who gets the “title of president” of Venezuela.

That’s what he no doubt meant when he said after the meeting “there was not a meeting of minds”, but rather he got “a better understanding” of Russia’s position.

Washington’s gambit is a replay of Syria. During the eight-year war in that country, the US continually proffered the demand of a “political transition” which at the end would see President Bashar al Assad standing down. By contrast, Russia’s unflinching position on Syria has always been that it’s not up to any external power to decide Syria’s politics. It is a sovereign matter for the Syrian people to determine independently.

Nearly three years after Russia intervened militarily in Syria to salvage the Arab country from a US-backed covert war for regime change, the American side has manifestly given up on its erstwhile imperious demands for “political transition”. The principle of Syrian sovereignty has prevailed, in large part because of Russia’s trenchant defense of its Arab ally.

Likewise, Washington, in its incorrigible arrogance, is getting another lesson from Russia – this time in its own presumed “back yard” of Latin America.

It’s not a question of Russia being inveigled by Washington’s regime-change schemers about who should be president of Venezuela and “how we can manage a transition”. Moscow has reiterated countless times that the legitimate president of Venezuela is Nicolas Maduro whom the people voted for last year by an overwhelming majority in a free and fair election – albeit boycotted by the US-orchestrated opposition.

The framework Washington is attempting to set up of choosing between their desired “interim president” and incumbent Maduro is an entirely spurious one. It is not even worthy to be discussed because it is a gross violation of Venezuela’s sovereignty. Who is Washington to even dare try to impose its false choice?

On Venezuela, Russia is having to remind the criminal American rulers – again – about international law and respect for national sovereignty, as Moscow earlier did with regard to Syria.

And in case Washington gets into a huff and tries the military option, Moscow this week told regime-change henchman Abrams that that’s a red line. If Washington has any sense of rationale left, it will know from its Syria fiasco that Russia has Venezuela’s back covered.

Political force is out. Military force is out. Respect international law and Venezuela’s sovereignty. That’s Russia’s eminently reasonable ultimatum to Washington.

Now, the desperate Americans could still try more sabotage, cyber or financial. But their options are limited, contrary to what Trump thinks.

How the days of American imperialist swagger are numbered. There was a time when it could rampage all over Latin America. Not any more, evidently. Thanks in part to Russia’s global standing and military power.

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With RussiaGate Over Where’s Hillary?

Hillary is the epitome of envy. Envy is the destructive sin of coveting someone else’s life so much they are obsessed with destroying it. It’s the sin of Cain. She envies what Trump has, the Presidency.

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Authored by Tom Luongo:


During most of the RussiaGate investigation against Donald Trump I kept saying that all roads lead to Hillary Clinton.

Anyone with three working brain cells knew this, including ‘Miss’ Maddow, whose tears of disappointment are particularly delicious.

Robert Mueller’s investigation was designed from the beginning to create something out of nothing. It did this admirably.

It was so effective it paralyzed the country for more than two years, just like Europe has been held hostage by Brexit. And all of this because, in the end, the elites I call The Davos Crowd refused to accept that the people no longer believed their lies about the benefits of their neoliberal, globalist agenda.

Hillary Clinton’s ascension to the Presidency was to be their apotheosis along with the Brexit vote. These were meant to lay to rest, once and for all time, the vaguely libertarian notion that people should rule themselves and not be ruled by philosopher kings in some distant land.

Hillary’s failure was enormous. And the RussiaGate gambit to destroy Trump served a laundry list of purposes to cover it:

  1. Undermine his legitimacy before he even takes office.
  2. Accuse him of what Hillary actually did: collude with Russians and Ukrainians to effect the outcome of the election
  3. Paralyze Trump on his foreign policy desires to scale back the Empire
  4. Give aid and comfort to hurting progressives and radicalize them further undermining our political system
  5. Polarize the electorate over the false choice of Trump’s guilt.
  6. Paralyze the Dept. of Justice and Congress so that they would not uncover the massive corruption in the intelligence agencies in the U.S. and the U.K.
  7. Isolate Trump and take away every ally or potential ally he could have by turning them against him through prosecutor overreach.

Hillary should have been thrown to the wolves after she failed. When you fail the people she failed and cost them the money she cost them, you lose more than just your funding. What this tells you is that she has so much dirt on everyone involved, once this thing started everyone went along with it lest she burn them down as well.

Burnin’ Down da House

Hillary is the epitome of envy. Envy is the destructive sin of coveting someone else’s life so much they are obsessed with destroying it. It’s the sin of Cain

She envies what Trump has, the Presidency.

And she was willing to tear it down to keep him from having it no matter how much damage it would do. She’s worse than the Joker from The Dark Knight.

Because while the Joker is unfathomable to someone with a conscience there’s little stopping us from excising him from the community completely., even though Batman refuses.

Hillary hates us for who we are and what we won’t give her. And that animus drove her to blackmail the world while putting on the face of its savior.

And that’s what makes what comes next so obvious to me. RussiaGate was never a sustainable narrative. It was ludicrous from the beginning. And now that it has ended with a whimper there are a lot of angry, confused and scared people out there.

Mueller thought all he had to do was lean on corrupt people and threaten them with everything. They would turn on Trump. He would resign in disgrace from the public outcry.

It didn’t work. In the end Paul Manafort, Michael Cohen and Roger Stone all held their ground or perjured themselves into the whole thing falling apart.

Andrew Weissman’s resignation last month was your tell there was nothing. Mueller would pursue this to the limit of his personal reputation and no further.

Just like so many other politicians.

Vote Your Pocketbook

With respect to Brexit I’ve been convinced that it would come down to reputations.

Would the British MP’s vote against their own personal best interests to do the bidding of the EU?

Would Theresa May eventually realize her historical reputation would be destroyed if she caves to Brussels and betrays Brexit in the end?

Always bet on the fecklessness of politicians. They will always act selfishly when put to the test. While leading RussiaGate, Mueller was always headed here if he couldn’t get someone to betray Trump.

And now his report is in. There are no new indictments. And by doing so he is saving his reputation for the future. And that is your biggest tell that HIllary’s blackmail is now worthless.

They don’t fear her anymore because RussiaGate outed her as the architect. Anything else she has is irrelevant in the face of trying to oust a sitting president from power.

The progressives that were convinced of Trump’s treason are bereft; their false hope stripped away like standing in front of a sandblaster. They will be raw, angry and looking for blood after they get over their denial.

Everyone else who was blackmailed into going along with this lunacy will begin cutting deals to save their skins. The outrage over this will not end. Trump will be President when he stands for re-election.

The Wolves Beckon

The Democrats do not have a chance against him as of right now. When he was caving on everything back in December it looked like he was done. That there was enough meat on the RussiaGate bones to make Nancy Pelosi brave.

Then she backed off on impeachment talk. Oops.

But the Democrats have a sincere problem. Their candidates have no solutions other than to embrace the crazy and go full Bolshevik. That is not a winning position.

Trump will kill them on ‘socialism.’

The Deep State and The Davos Crowd stand revealed and reviled.

If they don’t do something dramatic then the anger from the rest of the country will also be palpable come election time. Justice is not done simply by saying, “No evidence of collusion.”

It’s clear that RussiaGate is a failure of monumental proportions. Heads will have to roll. But who will be willing to fall on their sword at this point?

Comey? No. McCabe? No.

There is only one answer. And Obama’s people are still in place to protect him. I said last fall that “Hillary would indict herself.” And I meant it. Eventually her blackmail and drive to burn it all down led to this moment.

The circumstances are different than I expected back then, Trump didn’t win the mid-terms. But the end result was always the same. If there is no collusion, if RussiaGate is a scam, then all roads lead back to Hillary as the sacrificial lamb.

Because the bigger project, the erection of a transnational superstate, is bigger than any one person. Hillary is expendable.

Lies are expensive to maintain. The truth is cheap to defend. Think of the billions in opportunity costs associated with this. Once the costs rise above the benefits, change happens fast.

If there is any hope of salvaging the center of this country for the Democrats, the ones that voted against Hillary in 2016, then there is no reason anymore not to indict Hillary as the architect of RussiaGate.

We all know it’s the truth. So, the cheapest way out of this mess for them is to give the MAGApedes what they want, Hillary.

And hope that is enough bread and circuses to distract from the real storm ahead of us.

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