By Walt Zlotow
The US desperately needs Venezuelan heavy crude oil to run its Gulf Coast refineries. But 20 years of failed US sanctions to overthrow last two Venezuelan socialist presidents has caused Venezuela to pivot away from US petro dollars to sell their crude to China and Russia, and pay for it in Yuan and Rubles.
The rest of the world is looking at tiny (GDP, defense, population) Venezuela and realizing it’s cool to push back against America’s weaponized financial system that’s been holding them hostage to petro dollars for half a century. If Venezuela can do it so can many others, weakening America’s grip on them while undermining the US economy. And they are.
The dollar has fallen from 90% of energy transactions to 60% since 2000 and will likely be under 50% by 2035. As petrodollar usage goes bye bye, US debt will sour, interest rates balloon, presaging tough times ahead for the world’s second largest economy.
Maybe that’s why Trump has pivoted away from just sanctions to mass murder of small unarmed boats off Venezuela, seizing two oil tankers and threatening invasion. But Venezuela’s new economic pals China and Russia are rushing in to prop up Maduro’s regime which has essentially told Trump to pound sand. Maduro has the upper hand against the American colossus which can obliterate Venezuela but not without US cannon fodder arriving back at Arlington. That appears to be a criminal war too far even for mass murderer Trump.
Time for the US to drop all sanctions, withdraw the multibillion-dollar armada threatening Venezuela, and make nice with Maduro. Sure beats the economic suicide Trump and his deranged neoconservative advisors have chosen to foist upon the American people.
Walt Zlotow, West Suburban Peace Coalition Glen Ellyn IL
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Western leaders have been quiet on this issue… Does this mean a) they approve? b) Too scared to say boo? c) Worried Trump might steal their resources next?
At a guess, mostly b & c.
“..That appears to be a criminal war…”
Except perhaps for the UN supported Korean War, 1950-53, how many wars, proxy, covert and overt has USA been involved with that ignored or evaded UN resolutions ie; were not legal?
The Donald is becoming a true thug. NY mobster.
It may be a coincidence but in the last week I have met two couples from the US (Maine and Mass.) who are looking to migrate at least temporarily to Australia and were out here to have a look around.
Well educated, well-heeled professionals who just need somewhere to see out the Trump societal disintegration [their term] – confident that once the MAGAS are gone and Trump placed in an Assisted Living Facility that will inevitably be named the Trump Sanatorium for the Intellectually Challenged [or some such] they can return to a more balanced and orderly society.
b) and c) Jen, but also worried about being slapped with tariffs!
paul walter, the Donald has always been a thug. Recall that in his younger years he was mentored by Roy Cohn, a notoriously bent attorney who taught Trump to never apologise, and always go on the attack.
Trump’s relationship with Cohn was also the vehicle through which he (Trump) cultivated relationships with the New York mafia.
Given all this is on the public record, it’s nonetheless still astounding that a majority of the voters preferenced him in the elections. Occams’ Razor would suggest they’re not very astute when it comes to assessing the character of the candidates.
I think US politics is terminal also.
First the electing of Biden, an old sick man placed for no other reason than to block Trump and operate for the Lobby. Revealed by his actions as only a stooge for the Lobby who, whatever his views, became a sort of Hindenburg to Trump on his ascent.
Then the redneck Bible- belt types electing Trump himelf in a gesture of
arrogance not seen since the days of the Reich. They and Big money wanting freedom from accountability.
Thanks Walt, much appreciated.
The link between Trump’s intimidations and demands for regime change and Venezuela’s large oil reserves has often been made, but not that USA sanctions have caused Venezuela to shift to exporting to China and Russian leaving the USA with a shortfall that is causing desperation – that makes sense and fills in a lot of gaps.
Walt, your articles have given insight into US politics, thank you and I hope you have a wonderful Christmas.
That’s been Trump’s MO from day one, lie, steal grift.
You can’t expect anything else from a pathological liar and fantasist.
Remember his “I could stand in the middle of Fifth Avenue and shoot somebody, and I wouldn’t lose any voters, OK?’? To be able to kill and steal from Venezuelans so blatantly, on top of his worldwide and internal ravages, including Greenland, he is a genius.
Remember how Roosevelt’s 12 year presidency only stopped when he died. So we could be in for a long wait for the end of trump????
His millions of fans domum militiaeque and we americophobes are poles apart but we both love him.
The seppos were always a pack of gangsters posing as glowing examples of “truth, justice and yada yada.” The orange pedo just shrugged off the veil.