Venezuela Is In a Downward Spiral

Sparta Report | 4/15/2019 | Doomberg
LordLord (Posted by) Level 4
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While the America media has been busy raging about Trump, the situation in Venezuela has been steadily declining. A number of stories have hit the wires in the last week. For instance, 1,900 of the 2,000 employees of the Banco Central de Venezuela have been sent home:

Venezuela’s central bank has been operating with an emergency team of only about 100 workers since a power outage left its headquarters without running water two weeks ago, according to four people with direct knowledge of the situation.

Bank - Employees - Home - Lights - Caracas

Most of the bank’s 2,000 employees were sent home when the lights went off in Caracas on March 25 — and haven’t been able to return since, said the people on condition of anonymity. The emergency group has been working from a library with the help of water tanks, focused on vital tasks to keep operations going, such as transactions between local banks and reserves, they added.

The central bank’s situation underscores the disarray inside President Nicolas Maduro’s administration. Bathrooms have no water and the building has no air conditioning as a power crisis exacerbated water shortages in the Venezuelan capital amid a drought. Employees don’t know when they will be able to return to work. A spokesperson for the bank didn’t respond to requests for comment.

Bank - Venezuela - Institutions - Staff - Flunkies

The central bank is one of Venezuela’s most important institutions. The staff will all be key regime flunkies and supporters. The fact that employees are being arrested for talking to the opposition and sent home, presumably without food or pay, is a very bad sign for the regime. If central bank employees are going hungry, what other key regime supporters are?

S&P Global Platts March survey shows a gigantic crash in Venezuela’s oil production numbers, as the semi-permanent blackouts cripple PDVSA’s ability to produce oil:

OPEC - Crude - Producer - Years - Venezuela

Once OPEC’s third-largest crude producer years ago, Venezuela in...
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