VENEZUELA IS ON ITS LAST LEGS AS GOVERNMENT CASH RESERVES RAPIDLY DWINDLE
DANIEL LANG
TheDailySheeple.com
MARCH 3, 2017
t’s quite frankly amazing that the socialist government running Venezuela is still standing. That country is a testament to the ability of humans to put up with unimaginable poverty and tyranny without flipping their lids and lynching their leaders.
But alas, socialist governments can only last so long, even when their subjects aren’t actively trying to overthrow them. At a certain point these types of governments simply run out of money, which is what it appears is going to happen in Venezuela.
The Venezuelan government only has $10.5 billion left in foreign reserves, which the government has been using in recent years to pay outstanding debts. In 2015 Venezuela had twice that amount, and it had over $30 billion six years ago. And what’s left of this nation’s reserves is expected to rapidly diminish in the months ahead. Venezuela will have to pay $2.1 billion by this April, and a total of $7.2 billion by the end of the year. Only about $7.7 billion worth of their gold reserves are left after the government had to send some of their bullion to Switzerland last year.
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