“I want to assure Guyanese that there is nothing to fear.”
– Guyana’s President, Irfaan Ali
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Written by Bryan Lutz, Editor at Dollarcollapse.com:
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There is much to fear…
The world is fracturing as century old(some less) territorial agreements are coming to an end. Nations are measuring the sentiment of those neighbouring territories and taking opportunity where they can.
And that’s because a weakened world power allows renegotiation on land claims decided after the previous major conflict – World War II.
Now the renegs on national land claims are rolling out faster than ever.
In 2014, Russia annexed Crimea.
In 2021, the Taliban took back Afghanistan.
And most recently we see the result of land claims by the Palestinians and Israelis in the Middle East.
Better yet, Venezuelan dictator, President Nicolas Maduro is hailing what he calls “an overwhelming victory for the ‘Yes’ throughout Venezuela” regarding their recent referendum.
AFP reports:
Venezuela: vote shows ‘overwhelming’ support for claim on region of Guyana
“Venezuelan electoral authorities on Sunday claimed that 95 percent of voters in a nonbinding referendum approved of the nation’s territorial claim on a huge chunk of neighboring oil-rich Guyana…
About 10.5 million votes were cast by Venezuela’s 20.7 million eligible voters, said the president of the National Electoral Council, Elvis Amoroso.
But the tally stirred confusion, since an opposition politician suggested that each voter cast a total of five votes — one for each question on the referendum related to Venezuela’s claim.
Henrique Capriles, a two-time opposition presidential candidate, suggested that just over two million voters turned out.”
But the vote is not without US political support. Since, the start of the Ukraine / Russia war sanctions have been placed on Russian oil output causing our green-friendly US administration to look elsewhere for oil supply.
So the US, having placed sanctions on Venezuela in 2019, changed their mind after letting some minor persuasion run its course for the last two years.
Back in March 2022, Reuters reports:
U.S. ties easing of Venezuela sanctions to direct oil supply
“The U.S. engagement comes as Venezuela’s financial lifeline to Russia is fraying under sanctions on Moscow following its bombardment of Ukraine. Venezuela’s funds held in Russian banks blacklisted by Washington have been frozen.”
At the time of the report, the US began to relieve sanctions on Venezuela.
“U.S. officials have demanded Venezuela supply at least a portion of oil exports to the United States as part of any agreement to ease oil trading sanctions on the OPEC member nation, two people close to the matter said.”
And now only about a year later, and several months before another election, Venezuela’s Maduro, rally’s his nation against what he says is a “century old claim” on territory that belongs to Venezuela.
So shall the oil profits run…
“Guyana’s petroleum reserves are similar to those of Kuwait, with the highest reserves per capita in the world.”
If and when Maduro decides to throw military might at the quiet, little-known beauty that is Guyana, US support will likely be minimal.
The pressure to tame inflation for US citizens is all the persuasion the US Federal government needs to let the annexation run wild. That, and the majority of Americans who barely know where Canada is probably hear the word Guyana and believe the country to be in Africa. So “who cares…”
But in regards to inflation…
Inflation is measured as the overall rate of change in the Consumer Price Index(CPI). A large portion of that index (almost 40%) is composed of energy prices.
If the US Federal government can keep energy prices lower, they may be able to prolong the growth in inflation rates for some time…
Which I believe they already have been doing by pumping out all-time highs in global oil exports and production.
And that is what creates the uncertainty, fear, and doubt.
It is the politics that we must be aware of, and survive.
It is the unseen and unrealized affects of intervention in the markets.
And it is the idea, which so many of pundits propagate, that there’s nothing to fear…
Better to be aware, in my honest opinion.
And instead of fear, honest and always doubtful.
