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China loaned Venezuela another 5 billion on top of the 70 billion this week
Posted on 9/16/18 at 5:51 am
Posted on 9/16/18 at 5:51 am
So what happens when Maduros govt goes under?
There are several assets that were owned by US companies and siezed as well. If the US tries to reclaim assets and the Chinese claim those assets were collateral for their loans, what happens?
China also just extended 25 billion in loans to S Africa. They now have loans throughout Asia and Africa, some causing huge burdens, and the IMF (funded by Western countries) is bailing out these folks.
There are several assets that were owned by US companies and siezed as well. If the US tries to reclaim assets and the Chinese claim those assets were collateral for their loans, what happens?
China also just extended 25 billion in loans to S Africa. They now have loans throughout Asia and Africa, some causing huge burdens, and the IMF (funded by Western countries) is bailing out these folks.
7
Posted on 9/16/18 at 6:00 am to trinidadtiger
What's China's strategic interest in Venezuela?
Is it a beachhead in Latin America or a wedge against the United States?
Is it a beachhead in Latin America or a wedge against the United States?
Posted on 9/16/18 at 6:01 am to trinidadtiger
Chaos. Anarchy. Trump
Posted on 9/16/18 at 6:21 am to td01241
I would not be surprised they took the oil fields and pumped it themselves. Course that wont help the new Venezuelan govt when it takes power, nor help the US companies that lost assets.
Hopefully the new govt will just wipe the slate clean and start from scratch. Its kind of like those people who left Cuba 70 years ago and think they can get their house back, it aint gonna happen, move on. By the way, the largest asset claimed in Cuba, the power company, its owned by Office Depot/Staples (ah these mergers and acquisitions are like your grandparents attic sometimes).
Hopefully the new govt will just wipe the slate clean and start from scratch. Its kind of like those people who left Cuba 70 years ago and think they can get their house back, it aint gonna happen, move on. By the way, the largest asset claimed in Cuba, the power company, its owned by Office Depot/Staples (ah these mergers and acquisitions are like your grandparents attic sometimes).
This post was edited on 9/16/18 at 6:24 am
Posted on 9/16/18 at 6:45 am to trinidadtiger
China will claim the oil.
Posted on 9/16/18 at 6:49 am to TrueTiger
quote:
China will claim the oil.
Was illegally seized from Western companies.......so
Posted on 9/16/18 at 6:57 am to Strannix
They will just wait until we have a dem president that will let them resume rolling us
Posted on 9/16/18 at 7:03 am to trinidadtiger
quote:
If the US tries to reclaim assets and the Chinese claim those assets were collateral for their loans, what happens?
A friend of mine got insurance on his assets when Hugo was still in charge. Hugo nationalized their particular industry and seized his assets. Well, said asset had a true value of 25M. Insurance paid up and he got his money back surprisingly enough. The premiums his company paid for this asset as you could imagine were extremely high but well worth it in the end.
You never actually need coverage until you actually need coverage.
Posted on 9/16/18 at 7:11 am to Strannix
quote:
Was illegally seized from Western companies.......so
our armed forces don't have as far to go to collect
Posted on 9/16/18 at 7:11 am to idlewatcher
quote:
You never actually need coverage until you actually need coverage.
Kinda like a gun or a parachute.......
Posted on 9/16/18 at 8:48 am to Sentrius
quote:
What's China's strategic interest in Venezuela?
oil
Venezuela oil turns into Citgo in north jersey.
Iron
China is making steel skyscrapers. Yes, there is some make work going on.
China can gain control of Venezuela's natural resources.
Posted on 9/16/18 at 9:02 am to CelticDog
Citgo has a refinery in Lake Charles too.
Venezuela has the worlds largest oil reserves I believe.
Venezuela has the worlds largest oil reserves I believe.
Posted on 9/16/18 at 9:07 am to trinidadtiger
It's actually a bulk paper purchase by the Chinese.
Venezuela converts the loan to several trillion bolivars and hyper inflation carries that to several quadrillion bolivars. China asks for the repayment in paper bills.
Venezuela converts the loan to several trillion bolivars and hyper inflation carries that to several quadrillion bolivars. China asks for the repayment in paper bills.
Posted on 9/16/18 at 9:08 am to I B Freeman
quote:
Venezuela has the worlds largest oil reserves I believe.
Largest proven reserves anyway.
Posted on 9/16/18 at 9:15 am to Cosmo
quote:
Largest proven reserves anyway.
And they are eating zoo animals, not sure why they would need Chinese cash anyway, the bus driver/dictator revalued the currency and raised the minimum wage 3500%
Yay socialism!!!
Posted on 9/16/18 at 10:00 am to Sentrius
quote:
What's China's strategic interest in Venezuela?
A major frickton of oil. Granted, it's (literally) on the other side of the world but now that they are running the Suez, it's going to be not nearly as much of an issue getting it to them as it once would have been (thank, Jimmy Carter
). quote:
Is it a beachhead in Latin America or a wedge against the United States?
Those points don't need to be exclusive from one another so the real answer is simply "yes".
Venezuela is a trove of natural resources. Don't think for a minute China isn't going to leverage all this "generosity" into some level of solid influence. The Chinese are far more patient than other countries (Russia, for example). Instead of going in armed with firearms, they will go in armed with Venezuelan debt. In the end that may well be the most potent weapon for taking over another country.
Posted on 9/16/18 at 10:10 am to TheHarahanian
quote:
Venezuela converts the loan to several trillion bolivars and hyper inflation carries that to several quadrillion bolivars. China asks for the repayment in paper bills.
actually the bulk paper would be worth more if Venezuela does not ruin it with ink
Posted on 9/16/18 at 10:13 am to TrueTiger
quote:
quote:
Was illegally seized from Western companies.......so
our armed forces don't have as far to go to collect
Why should our tax dollars and lives be used to collect property in another country that used to belong to private enterprises? Shouldn't the oil companies and so on assumed there were risks in owing property in another country with other laws and political systems? It's not my fault those oil companies made a mistake.
Why should public tax dollars be used to subsidize a mistake made by private industry?
Posted on 9/16/18 at 10:21 am to Ralph_Wiggum
quote:
Why should public tax dollars be used to subsidize a mistake made by private industry?
Why should public tax dollars be used to subsidize a mistake made by a Private citizen?
Posted on 9/16/18 at 10:31 am to beerJeep
quote:
Why should public tax dollars be used to subsidize a mistake made by a Private citizen?
too big to fail
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