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Banksters hover while Venezuela starts circling the drain

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When Venezuela runs of of money to pay debt and import goods, which will happen soon, it becomes prey for banksters across the planet. Venezuela’s sovereign debt default is coming. Ominously, there are huge lines everywhere there now for food and basic supplies, if they can even be found. Inflation is soaring. The economy is imploding. Financiers and other countries will be looking to scavenge, looking for pennies on the dollars deals. And Venezuela will be in no position to say no.

Give a thought to the people there who are just trying to get by and didn’t ask for any of this.

Venezuela-CDS

Credit Default Swaps are essentially insurance on bonds, big money deals between private parties, done to hedge risk or speculate. The CDS spread is the premium paid by the buyer to the seller for guaranteeing the bonds, and is measured in hundredths of a percent. US bonds have a spread of 18 or 0.18. Venezuela has a spread of 5714 or 5.314%, the highest of any country, by far.

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