Venezuela, already in trouble due to a collapsing economy brought on by cronyism and epic mismanagement, is getting demolished by dropping oil prices. Inflation is currently 63%. Food shortages are common. 95% of its foreign income comes from selling oil. That income is shrinking rapidly. The always-helpful Goldman Sachs has bought $4 billion in debt owed to Venezuela by the Dominican Republic for 1.64 billion, or 41% of actual value.
Doing god’s work indeed. “This is a tremendous bargain for Goldman,” said one source, as Venezuela is “liquidating the few assets they have, trying to find the cash flow, cash, they do not have.”
Everyone’s favorite vampire squid is also negotiating with Venezuela to buy debt owed to it by Jamaica.
From the comments:
If somebody’s bleeding out, you can be sure Goldman will be there with a straw and some vodka to mix up Bloody Marys with it.