Good, Bad and Old in Venezuela: Things that make you go Ughh?

April 4, 2011

-The Venezuelan Supreme Court accepted the request to give priority to the case of Bolibourgeois banker Ricardo Fernandez Barruecos at the request of the Prosecutor.

Funny how all these cases close to Hugo get priority…

-Good News, Bad News: There will be no water rationing

but we want to make sure we have them sometime in the future

-According to El Nacional, the shortages of diapers and sanitary napkins persists, which means is only good to be a young man in Venezuela these days…

Bad News, Good News: The Bad: Chavez leads in a poll…

The Good: Jesse Chacon leads the pollster…

-Carlos Escarra was almost deported from the US for refusing to remove his shoes, which he claimed violated his human rights…

Why does he insist in going to the US to have his rights violated when it is so easy to have it happen here in his own backyard? Was he shopping again?

-Bad News, Bad news: Walter Molano, never a fan of the revolution:

“Subordination of bondholders by the Chinese loans-for-oil deals are making Ven bonds increasingly risky”

“investing in Venezuelan bonds may be as desperate as Chavez’s quest for a fourth term in office.”

I prefer the risky part to the desperate part…

-Old money versus new money: Deputy Earle Herrera explains that the US$ 10 million to Uruguay is old money, not new money.

Oh, you mean we gave so much to Uruguay when oil was only $50 dollars a barrel and not $100 like now? Was that also the time when we bought 12,000 houses from them? Is Deputy Herrera living in one of the twelve built?

-Is this news?: “Plan against the electric crisis failed

Really? How could it? A Ministry was created, a person with no clue or experience was put in charge of it. As little money as possible was spent. The wrong technology was purchased where investments were made. It rained all year.

Really (again), how could this have happened? Don’t worry, we will force you to use less

-But there is good news, really:

The Government built 200 housing units in Merida, only 1.999.800 to go

The Caracas Stock Exchange was stable today, no index changed in price and all of US$ 55,000 (at the official rate) was traded.

The economy must be ready to really move on…

23 Responses to “Good, Bad and Old in Venezuela: Things that make you go Ughh?”

  1. firepigette Says:

    M astera,

    Words written en el anio de la pera will take on different meanings under different circumstances.

    Those who insist on stupid freedoms will lose important ones.

  2. m_astera Says:


    My rights were not granted to me by a government. Feel free to give up your rights, but don’t expect me to give up mine in your pursuit of security.

    Are you a US citizen? Here is the beginning of the second paragraph of the Declaration of Independence, which I thought was something those wishing to become US citizens needed to study and understand:

    “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed.”

    And here’s what Ben Franklin had to say about it:

    “Those who would give up Essential Liberty to purchase a little Temporary Safety, deserve neither Liberty nor Safety.”

    You have the right to give up your freedom if you choose. You have no right to expect others to give up theirs, and those of us who value freedom above false security will choose to keep ours at any cost.

  3. Roberto N Says:


    I guess we can call him “El Turco de la DEA” from now on!

  4. nomi Says:

    GWEH, if Makled comes to Venezuela, will you finally shut up? I’m sick and tired of your hush-hush tips.

  5. A_Antonio Says:

    With Makled, now Chavez has “El Chinito de Recadi” for all drugs cases in Venezuela. Very sad for the Justice. What will be the pay to Colombia in exchange?

  6. GWEH Says:

    santos and obama just met over makled

  7. GWEH Says:

    there is a lot of teatro going on

  8. GWEH Says:

    Ira, I don’t see Penn vying for attention. Penn is on a league of his own. He uses Chavez more than Chavez uses him. Glover was successful. Others have tried. Penn can get face time with Chavez to hit him up for money for Haiti… what is not to admire about Penn? He has the balls to deal with stupid dictators.

  9. GWEH Says:

    forgot, El Comandante will not be indicted (por ahora)

  10. GWEH Says:

    OT: Makled is coming north. The indictments are ready… they need about a month that’s all. Get ready!

  11. moctavio Says:

    the dumping already took place, belarus yields 9 %, PDVSA, Venezuela yield 15%, worst in the world with oil at 100

  12. LT Says:

    How come the market is not dumping Venezuela and PDVSA bonds in view of the fact that the implicit collateral is going first to the Chinese? Its a default without coming out and saying it.

  13. Ira Says:


    Jesse Ventura is not a paranoid nut. His conspiracy theories are all just “shtick” for him–a way for him to stay relevant despite the fact that he’s TOTALLY irrelevant. (Except he has a new book that came out today!) He doesn’t believe a fucking thing he says–he’s still just a stupid wrestler.

    But he’s not dangerous. He’s just a clown, and no longer holds any office.

    Big difference here between the U.S. clowns vying for attention (including Penn and Glover), and the clown in Miraflores.

  14. Arturo Stuardo Says:

    Miguel, I think Roy is right.

    We can only speculate because the documents are kept secret, but I imagine that “China’s credit line” is simply an EXPORT PRE-PAYMENT facility.

    Thus, Venezuela received the money, and the unlifted oil “belongs” to the Chinese, for future delivery. In practice, as Molano mentioned, it is a kind of subordination for bondholders, because the Chinese got a synthetic “senior secured loan”.

    Damn Chavez and his cronies.

  15. firepigette Says:

    I am so tired of people complaining of rights being violated even if it is to protect us.The more paranoid a person is, the more likely to complain.Look at the crazy, paranoid Jesse Ventura !

    If not paranoid , then they something to hide.

    I for one would prefer to violate false rights even more and bar these creeps from steeping foot into our country.Rights to enter a foreign country are a privilege and we have to follow the norms of each country or accept the consequences.

    I am sick sick sick of the wave of childish victimization sweeping the world.It’s like it is no longer fashionable to mature.

  16. Gringo Says:

    Why does he insist in going to the US to have his rights violated when it is so easy to have it happen here in his own backyard?


  17. Roy Says:


    As I understand it, not only is the oil Chinese when it leaves port, it is Chinese right now, as it lies in the ground, still undiscovered. And Chavez wants to call others “Vendapatrias”.

  18. moctavio Says:

    Antonio: It has always been the theory that PDVSA could not stop paying debt because it would have trouble exporting oil without someone trying to impound the oil shipment. But if the shipment goes to China to pay for loans, the oil is Chinese by the time it leaves Venezuelan ports. Thus, debt holders would have no legal way of attaching that property, which is different than

  19. Kepler Says:

    Qué bolas! Había oído del caso, pero no vi los detalles. Y es increíble que no se haya averiguado nada. Por qué las fuerzas alternativas no entregan expedientes al contralor y piden copia de recibo de denuncia y las van acumulando? (necesitarán, eso sí, una sala gigantesca para guardar los dossiers y vigilancia para que no la quemen los chavistas)

  20. Glenn Says:

    The economy has already moved on according to Ali Rodriquez with the statement that the current electricity shortage was caused by economic growth. It’s a shame to think someone might actually believe this bs.

  21. Antonio Says:

    What is the meaning of “Subordination of bondholders by the Chinese loans-for-oil deals”? It sounds bad, but how bad is it?

  22. CarlosElio Says:

    Giving money to Uruguay is an old habit. the main change is that this time it is done in the open. In 2009 the government bought 50.000 cartography books paying $498 for each while the books were purchased from the printer at $5.85 each.

    The seller was an Uruguayan corporation called Apliser S. A. The importer was Inversores Ganesca, a company dedicated to the trade of chickens and eggs. The books were purchased for a training program offered to the Venezuelan army.

    This fraud was investigated by a judge in Uruguay. No one in Venezuela showed any interest in investigating the fraud. Isn’t it funny when chavez ask for evidence of corruption and when such a clear case is presented to him he looks the other way? I’m sure the commander in chief was directly involved in this fraud.

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