Venezuela Will Be Out Of Gold By Next Year! – What You Need To Know

Josh Sigurdson talks with author and economic analyst John Sneisen about the recent finding that Venezuela will be out of gold by May or June next year.
Since November, Venezuela has lost 1.6 billion dollars worth of gold.
Several years ago under Hugo Chavez, Venezuela repatriated its gold from central banks around the world. Chavez soon after died and Venezuela started selling its gold to pay for its crippling level of debt. Keep in mind that Canada sold all of its gold some years ago and therefor Venezuela has more gold than Canada. Now Venezuela will join the club and sell off all remaining gold.
Venezuela has printed so much bolivar fuertes that their gold could never pay off what they created.
All fiat currencies eventually revert to their true value of zero. They always have, they always will going back to 1024AD in China. Venezuela is going the way of the Wiemar Republic and Zimbabwe. Total hyperinflation. Poor trillionaires.

This is the end result of all centralized socialist empires. Dependent on oil. A populace in servitude. Vast debt. Hyperinflation. Bread lines. People breaking into zoos to eat the animals out of desperation.

We will continue to break this issue down. Stay tuned!

Video edited by Josh Sigurdson

Featuring:
Josh Sigurdson
John Sneisen

Graphics by Bryan Foerster and Josh Sigurdson

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2018

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13 Comments

  • Chen Lee
    Reply

    Funny thing you guys mentioned Zimbabwe’s currency. I think it’s worth more now as a collectible than it ever was as ‘money.’

  • Dastickupkids
    Reply

    SILLY WABBITS TRIX ARE FOR KIDS…IF YOU BELIEVE VENENZUELA IS SHARING THERE ACTUAL GOLD HOLDING..
    THEN I GOT SOME LAND ON VENUS…JUST FOR YOUS

  • Laura
    Reply

    I agree with you John i believe in the free market , capitalism it is good, but unfortunately nowhere in the western world there is no real capitalism. It’s either communism, socialism or centralized corporatism, either the government rules or the bankers or both. If you do some research in every western country that pretends to be capitalistic, the big giants/corporations take over the resources and set up the price and kills the middle man. If a person for egg opens a business, tries to sell a beer for a different price than the one set up by the corporations, she/ he is killed by the monopoly of giants. There is a monopoly in the alcoholic beverages, tobacco and other services in the western countries., and many other services ; if you go on a food market you will notice the same price for a tomato everywhere you look , that’s not free market that’s monopoly. I have traveled in many western countries who pretend they are capitalist and the situation is the same. As for the the communist or ex communist countries the situation turned out to be the same, they became colonies of the western world where government and corporations work together.

  • Micheal Williamson
    Reply

    I wonder about this for years and I mean 30 years I have been saving copper pennies recently I heard that the government a couple of years ago has made it illegal to melt copper pennies for the copper value that kind of means I have been saving copper for years for nothing also I have been saving $50 gold American Eagles I have about $500 worth that’s 10 Gold Eagles worth about $12,000 so give or take are they going to make it illegal to melt that coin as well April 25th 2018 Central California United States of America Willy

  • Joe Doe
    Reply

    The real problem is not described by terms like “socialism”, “capitalism”. These are highly prone to interpretation. The root issue in all cases is centralized control which leads to merging of government with partial entities that do not represent the population. In venezuela the government merged with a communist party lead by a single individual; in germany the government merged with the “national socialist worker’s party” of Hitler; in the (ex) eastern block the government was owned by the communist party; and in the US both parties in the government are bought and paid for by the privately operated central bank disguised as “The Federal Reserve” (it is not federal, it’s private, and it’s not really a reserve either)..

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