Venezuela: State of Disaster

Published on
October 31st, 2018
30 minutes

Venezuela: State of Disaster

The Big Story ·
Featuring Jay Newman

Published on: October 31st, 2018 • Duration: 30 minutes

The downfall of Venezuela serves as a modern-day macro tragedy. Once the richest nation in Latin America, Venezuela is now a broken economy enveloped in crime, corruption and hyperinflation. To tell the story, Brian Price works alongside legendary investor Jay Newman to produce a ground-breaking documentary that captures the contrast between millions of starving Venezuelans and the government officials who continue to thrive. Real Vision also explains how a surplus of commodities, from oil and gas to cocoa and coffee, have been squandered under the rule of former President Hugo Chavez and current President Nicolas Maduro. However, despite the dire state of affairs, hope comes in the form of potential outside investments once economic sanctions are lifted. Filmed in 2018 in New York and Caracas, Venezuela.


  • DS
    Dorian S.
    20 February 2021 @ 10:02
    Very well done. Venezuela has fallen out of the news cycle and I hardly hear about it. The opposition leader who rose a year or two, and who presented the possibility of new leadership, I haven't heard anything about him since. I hope he is still alive. I really liked Daniel Lansberg-Gonzalez. His analyses (and metaphors) were always astute and usually, also, hilarious. (If you can use that word in the midst of such tragedy).
  • mb
    michael b.
    6 March 2019 @ 21:59
    This is interesting, but Hyperinflation and corruption are the result of socialism in Venzuela. The title of this video should include the word socialism.
  • sB
    sylvain B.
    26 November 2018 @ 10:16
    Xcellent piece. heads up
  • AK
    Anton K.
    2 November 2018 @ 15:31
    Birds of a Feather Flock Together..., Jeremy Corbyn speaking with Maduro on Venezuelan Radio in 2014
    • SD
      S D.
      3 November 2018 @ 02:25
      Unbelievable, isn't it. Say hello to the UK's next prime minister. urgh.
    • MS
      Matt S.
      13 November 2018 @ 06:11
      Hey Anton! Good to see you here buddy! ;)
  • MS
    Matt S.
    13 November 2018 @ 06:08
    The IMF and the World Bank help rebuild countries? Please lol......... like they did with Greece? What a joke. (((they))) create communist disasters, then go in and buy up the nation's assets and resources at rock bottom prices, then "allow" the nation to come back to par value, pocketing the insane profits as it does so. (((they))) have been playing this game internationally for millennia now. (((they))) tried it with Russia and were so close to taking over that nation too, but Putin smashed them back down. Why else do you think (((their))) news channels CNN, MSNBC, ABC etc are always pushing anit-Putin / Russian collusion nonsense? It's as plain as day what is happening if you're willing to remove your blinders. Sometimes I really wonder where RVTVs loyalties lie and whether they too have an agenda to push...
  • SH
    Sean H.
    9 November 2018 @ 23:02
    That was an excellent piece. Thank you.
  • RP
    Robert P.
    6 November 2018 @ 20:54
    Disappointing that the word "socialism" never entered into the discussion. Whitewash of a bankrupt philosophy.
  • SH
    Stephen H.
    6 November 2018 @ 10:51
    Agree with the general message but there are some suspicious interviewees (CFR for one) making mostly unproven claims. I can watch this on Al Jazeera or BBC or CNN.
  • YW
    Yowshi W.
    2 November 2018 @ 00:26
    With energy so cheap they should mine crypto
    • JA
      James A.
      2 November 2018 @ 01:44
      Many are to get by, Bloomberg covered that in the spring 'Free Electricity, Crypto Mining'. Between black mkt government cronyism, rigged 2 tier exchange rates which produces billions for insiders, basic run of the mill crime, corruption, drug traffic, wildcat gold mining, crypto mining, programming services for overseas companies, playing online fantasy games, or collecting remittances from family members now working abroad. These are but some of the hassles ongoing. A real sickening situation that hopefully rectifies itself sooner than later.
    • JL
      James L.
      2 November 2018 @ 13:40
      They're also trading in-game tokens and items on the many different multiplayer games on the net.
    • KS
      Kathleen S.
      6 November 2018 @ 01:59
      I don't know why the government just doesn't adopt bitcoin as their new currency - the goverment should start mining it. It would be better than what they have now.
  • CW
    CC W.
    5 November 2018 @ 05:13
    So how do we invest? I am pretty sure most of us who subscribe to RV are already in tuned to what is going on there.
  • SL
    Seth L.
    1 November 2018 @ 16:57
    Sorry, I'm going to be harsh here. I love Real Vision, really. To make such a documentary of real human tragedy, touch upon politics, and not explicitly link the former to the latter is un-serious at best and cowardly at worst. What is happening there is 100% a product of the political philosophy; it's not Chavez, it's not Maduro, it's socialist politics/culture. Change the head of state without liberalizing the economy and you'll get the same result. These situations all end the same, just look at history. Improving the situation in Venezuela is as simple - and as hard - as taking an honest look at oneself in the mirror and rejecting those vile beliefs (ie socialism) that, for some reason, continue to plague man whenever (and to the extent that) they are implemented. Don't be ashamed or afraid to make a stand and cast judgement Real Vision. Courage and moral certitude is required for serious intellectual exploration.
    • dm
      dan m.
      2 November 2018 @ 01:11
      Bernie Bernie Bernie!!!!!!! Socialism is a psychological aberration - a sort of death wish.
    • my
      markettaker y.
      5 November 2018 @ 01:47
      right on.
  • RS
    Robert S.
    4 November 2018 @ 16:25
    Fail to see any real insight here . Much more insightful would be to look at the destructive forces US particularly unleashed in South America . You think Pinochet was a good guy ? Chavez definitely was better than him as a human being but unpalatatable to the US . What has become of Iraq? You think Kuwait has diversified one iota out of oil??
  • OS
    Oliver S.
    4 November 2018 @ 14:29
    Fascinating...but a very sad state of affairs. It really brings to life the fears of hyperinflation.
  • LC
    Liliana C.
    4 November 2018 @ 06:14
    Breaks my heart to see this and makes very angry because of how long this devastation is continuing. I was born and raised in Bolivia, where Chavez’s buddy now rules . Growing up we had sometimes 2 or 3 coups a year. Many times communism and now socialism have tried to take hold of the country. Thus far, it hasn’t taken hold because Bolivian people are ungovernable. Which is a blessing and curse, but at least, no single government has been able to rule for long before being overthrown. Evo Morales has had to change his tune after both Castro and Chavez died and people became dissatisfied with him, as they do with all governments. They’re also quite effective at removing governments by any means, usually violent, That’s why it blows my mind that no one has done that with this SOB!! It’s infuriating!
  • TS
    Todd S.
    3 November 2018 @ 01:29
    Thank you real vision for having the courage to go on site and tell the story from within.
    • SD
      S D.
      3 November 2018 @ 17:03
      Did they actually go there? A former Reuters reporter showed his face which is weird, and they relied heavily on Rtr footage and freelance product.
  • JM
    John M.
    3 November 2018 @ 15:57
    Brian, P, I really appreciated the education on VZ, With this vignette, I see very strong parallels between VZ and the USA. Does the entire team at RV think we're headed this way too over the next few years?
  • SR
    Steve R.
    3 November 2018 @ 07:12
    Socialism doesn't, never has done, and never will, work, period.
  • SC
    Shou C.
    3 November 2018 @ 03:25
    this video makes me start thinking...
  • SD
    S D.
    3 November 2018 @ 02:24
    Your piece is unfocused and heavily reliant on other people's work. What's the angle? Why are these guys still invested and why are they speaking out at this particular point? Is something up? Trump has said he'd like to invade. That'd be one way of dealing with MbS. Is something now being discussed?
  • GO
    Gary O.
    1 November 2018 @ 06:49
    The US should overthrow Maduro and fuck up another country while we are still on a roll. Sorry. No surprise excellent documentary on a country that is imploding before the worlds eyes. Thank you Real Vision!
    • RE
      Rachel E.
      1 November 2018 @ 09:06
      It is easy to bash the USA, because you couldn’t do it in Russia, China or Saudi. God bless America for providing free speech. Please, review the history of past 2,000 years about the past empires..............
    • CT
      Christopher T.
      2 November 2018 @ 22:07
      Agree with Rachel. USA is the best
  • GG
    Gerardo G.
    2 November 2018 @ 19:54
    please consider making this public, i think its important for particularly for americans to see
  • WM
    Will M.
    2 November 2018 @ 14:55
    What a mess. The poor peasants who were bribed by Chavez are now paying a terrible price....... and there is nothing they can do about it as the State has all the guns.
    • WM
      Will M.
      2 November 2018 @ 15:18
      ...oh and the overwhelming positive response thumbs ups for the video says it.......
  • JB
    Jason B.
    2 November 2018 @ 05:36
    Truly heartbreaking what has happened in Venezuela! And yet tens of millions of spoiled, privileged Americans are demanding the US adapt more and more socialism! I am even seeing a rise in people who escaped socialism in Soviet Russia or a Soviet satellite country only to come to the US and be brainwashed all over again into becoming a hardcore Democratic socialist and voting for more socialist policies! Von Mises was right! Socialism, Marxism, etc really is a religion (with lots of true believers that totally ignore reality and always have excuses for why socialism didn't work and why it will succeed next time) and it cannot be killed by shining a light on its brutal real life track record of death and destruction!
  • LA
    Linda A.
    1 November 2018 @ 03:47
    This was painful to watch. I pray for an early Maduro death for the havoc he inflicts.
    • JM
      John M.
      2 November 2018 @ 05:09
      Can you imagine a political system that allows a guy like Chavez, who participated in an attempted coup, to then run for President? That's like hiring a convicted bank robber to become president of the bank..
  • JD
    John D.
    2 November 2018 @ 04:20
    Nice Job Brian... Well Done !!!
  • JF
    Jennifer F.
    2 November 2018 @ 02:29
    Wish everyone can see this. They would be far more careful which political leader they would elect in the future. And probably teach us all to be more mindful and vociferous of the changes that are occurring know.
  • JF
    Jennifer F.
    2 November 2018 @ 02:29
    Wish everyone can see this. They would be far more careful which political leader they would elect in the future. And probably teach us all to be more mindful and vociferous of the changes that are occurring know.
  • V!
    Volatimothy !.
    31 October 2018 @ 13:49
    Legendary investor Jay Newman? When discussing Venezuela on Blooomberg he jokes at how he hopes these bonds don't take as long as Argentina's to pay off. Meanwhile children are picking through trash for food. He says in this video that making money for investors, is going to make money for Venezuelans. How is the $2+ billion (10x payout) Elliot received from Argentina bonds in 2016 helping that country now? For me the hardest part of investing is making sure I'm not fooling myself. I enjoyed the video for insight on an issue vaguely discussed.
    • PD
      Peter D.
      31 October 2018 @ 17:10
      Vulture funds taught Argentina an important lesson: don't borrow. Too bad the country, which just went back to the IMF again, didn't learn. However when America defaults, international investors will be SOL.
    • V!
      Volatimothy !.
      1 November 2018 @ 01:31
      Vulture funds have truth and justice written all over them. You buy distressed debts, then man up and take your losses. Elliott even got reimbursed for their legal fees. Remember it’s the everyday Joe taking the worst of the situation.
    • dm
      dan m.
      2 November 2018 @ 01:05
      Read Adam Smith
  • DK
    Daniel K.
    31 October 2018 @ 18:18
    Not thrilled to see RV interviewing members of the CFR. They're responsible for the US' horrendous foreign policy along with Israel. I look forward to the sequel where you guys mention the their roles in South America.
    • dm
      dan m.
      2 November 2018 @ 01:01
      sociopathic busybodies these CFR lizards are....
  • dm
    dan m.
    2 November 2018 @ 00:57
    A population that thinks it can get something for nothing deserve what they get- which is nothing. Bernie 2020?? Warren 2020?!! Go ahead.
  • dm
    dan m.
    2 November 2018 @ 00:57
    A population that thinks it can get something for nothing deserve what they get- which is nothing. Bernie 2020?? Warren 2020?!! Go ahead.
  • SS
    Steven S.
    1 November 2018 @ 22:29
    on topic posted today - i post here as an FYI - "Colombia and Brazil will INVADE Venezuela?"
  • KC
    Kenneth C.
    1 November 2018 @ 16:01
    Brian, great job. Caveat, you don't get to move on upwards without training your replacement.
    • BP
      Brian P. | Real Vision
      1 November 2018 @ 20:31
      Tell Raoul! Thank you!
  • AM
    Andrew M.
    31 October 2018 @ 10:42
    I'm quite shocked by the activist turn RV has taken. Jay Newman is a corporate raider who holds countries to ransom. Look at his handy work in Argentina. Now has his eyes set on Venezuelan debt. Kyle Bass is similarly a US nationalist. I like his interviews and investment takeaways, but these people are biased in the extreme. Seems like a dangerous rope for RV to be walking.
    • RP
      Raoul P. | Founder
      31 October 2018 @ 10:57
      As you know, we dont hold a bias and allow our guests to express their views, be they bullish China or bearish China, supportive of Russia or against Russia, Nationalist or internationalist. We honestly dont choose the narrative of our guests but just simply let them tell their stories and expand their own thinking. By allowing all thinking on to one platform, in a respectful, well thought our manner, then we only serve to widen discussions and open peoples minds to the variety of "truths" that can and do exist.. We are not in any way activist. We have zero agenda except to democratize the very best financial information.
    • AM
      Andrew M.
      31 October 2018 @ 11:13
      I get that. And agree with you for this most part Raoul. But this isn't just an interview, this is a documentary produced with the help of Jay Newman. He is an activist. And he clearly wants regime change in Venezuela / has an agenda.
    • RP
      Raoul P. | Founder
      31 October 2018 @ 11:20
      His agenda is his agenda. Is it valid or not? Well thats your choice and not RV's. All we have to ask is whether it is "considered" and whether it is robust a discussion enough for it to qualify for RV quality filter. You dont have to like it or agree with it but it doesnt mean we shouldnt show it. That would be the the antithesis of what we stand for at Real vision.
    • AM
      Andrew M.
      31 October 2018 @ 11:45
      Was it a robust discussion? I'm not sure. Most of the contributors seemed to be reading off the same script, and Humes and Newman seek regime change in order to profit. No one is denying there are massive corruption and mismanagement issues in Venezeula. But the US has systematically sought otchoke it off from the rest of the world since Chavez took power in 1999.
    • AM
      Andrew M.
      31 October 2018 @ 11:51
      Very little attention paid to that at all, which is a glaring omission for a robust discussion. But not surprising since Newman likely had a hand in producing this - much easier to lay the blame at govt and corruption. What's next? Crispen Odey and Allen Howard producing a piece about Italy's embattled govt in order to get BTP yields to blow out? I'm sure it would be fascinating, but I'm not sure it would be ethical.
    • GL
      Geoffrey L.
      31 October 2018 @ 12:53
      If regime change means less than thousands of percent inflation and fewer mass starvations, than would that be such a bad thing? It's truly amazing the human suffering people will be indifferent to so long as they can hold on to their political philosophies (such as they are). Gotta give 'em credit though. They're perfectly willing to go down with the ship and take everyone else with them!
    • AM
      Andrew M.
      31 October 2018 @ 13:19
      I'm not indifferent. I'm just pointing out that the US has had a hand in the downfall of Venezuela, something this documentary glosses over (you could argue its producers have their own political persuasions). I guess we better overthrow the Iranian regime too? Their economy is collapsing amid sanctions. Russia after that?
    • AM
      Andrew M.
      31 October 2018 @ 13:26
      Don't forget N. Korea, Eritrea, much of central Asia etc!! Fantastic logic you have. And vulture capitalists like Newman, Humes, Singer, Howard, Paulson etc. can reap billions, of course, despite not really giving a shit about countries like Argentina, Venezuela and Puerto Rico.
    • PD
      Peter D.
      31 October 2018 @ 14:50
      "Corporate raider?" Are you saying that's a bad thing? Most RV viewers are here to learn about investing. Not morals. Agendas are often part of that process (eg. short-sellers who bad mouth targets for effect). In a world in which governments steal half our income each year, morals are best confined to the church.
    • PW
      Peter W.
      31 October 2018 @ 14:53
      Andrew M, you are beyond ill-informed. It's remarkable that you have audacity to place banana republic corruption & authoritarian rule of Chavez/Maduro in a virtual same breath as "US choking Valenzuela off." As if equivocating international backed sanctions (US and EU bloc, +...) against party leader bad-actors in attempt to slow them from continued pillaging of national the devastating policies those two leaders have pushed through since '99. I'd love to see you prove that US policy has moved the needle by more than a few % points towards devastation compared to Venezuelan gov policy. Please, enlighten us. And your behavior to "limit a viewpoint" because it is different than yours, speaks for itself. Been seeing a lot of this lately in the MSM, it's rather unsettling. You think the type of folks that subscribe to RV service are incapable of vetting a resource and weighing credibility? And btw, Newman took on enormous risk and went through hell and back for his Argentina gamble to finally work out. Last I checked, Argentina ran its ship into an iceberg, and some creditors came in with a life-line that had stringent standards attached to compensate against severe default risk? Who is to blame for that? You sound like some 20yr old who lives in fluffy idealist-land and doesn't understand notion of risk / skin in game.
    • AM
      Andrew M.
      31 October 2018 @ 15:02
      Exactly. So by that logic have an interview with him revealing his investment process or future opportunities like the Humes interview? Not him retelling the history of Venezuela, taking incontestable potshots at the regime, and whitewashing the role of the US and CIA in the country's tragic downfall.
    • AM
      Andrew M.
      31 October 2018 @ 15:12
      If they take the risk, that's fine. Good for them. I just don't think RV should be giving individual hedge fund managers a platform to produce a documentary that suits their own agenda and mispaints much of what's going on. An interview? Fine. But not a documentary that is passed off as fact, and people not understanding his agenda in creating this - which is not to provide a definitive overview of the situation. It's to promote his own interests and make priofits.
    • AM
      Andrew M.
      31 October 2018 @ 15:42
      Also, Peter W. You are fundamentally, but predictably, misreading history. I'm not blindly defending Chavez or Maduro by any means. But the election of Chavez was ITSELF a reaction to the free market forces that had devastated the country in the 1980s and 1990s (for starters, I suggest you read up on the shock therapy and free market doctrines that the CIA brought to bear on Chile and much of Latin America). Venezeulan poverty and unemployment actually halved between 1995-2009 (curiously no mention here?). Sounds truly devastating lol. And if life was so unbearable, then why did Chavez and Chavismo enjoy popular support until his death? Was the government inept in not diversifying its economy away from oil? Certainly. Are they corrupt? Which emerging market government ins't. But instead of trying to help Venezeula like they have other barbaric and corrupt regimes, the US has now imposed sanctions and embarked on an economic war that has backed the regime into a corner, and most definitely worsened the crisis. Same as Iran. Even now the CIA is openly admitting that it is trying to overthrow and topple the government (just as they tried in 2002). And why? It's not to help the people there - they could not care less. Just like Humes and Newman could not care less. It's because they are socialist.
    • AM
      Andrew M.
      31 October 2018 @ 15:55
      As for the US moving the needle? Here's an article by one of the guests of this documentary, Fransisco Rodriguez, explaining how US sanctions have crippled the country.. "cutting off the government's access to dollars will leave the economy without the hard currency needed to pay for imports of food and medicine. Starving the Venezuelan economy of its foreign currency earnings risks turning the country's current humanitarian crisis into a full-blown humanitarian catastrophe". Please, please engage in at least some modicum of basic research before replying this time. Thanks :D
    • AG
      Asim G.
      1 November 2018 @ 20:07
      Have to agree with almost everything Andrew M. states in this thread. A new low for RealVision with this one. Read "Confessions of an economic hitman" for more background info. Scum like Jay Newman and neocon psychopath Kahn are the real demons in this story.
  • FG
    Flavio G.
    1 November 2018 @ 18:48
    It won't take much to induce the collapse of Venezuela's military (Maduro's partners in thievery). I hope Bolzonaro does something in this direction.
  • KC
    Kenneth C.
    1 November 2018 @ 16:25
    And also whoever does the editing on this and numerous other videos, really a fantastic job.
  • JC
    Juan C.
    1 November 2018 @ 15:16
    Good documentary for PBS but it lacks the depth (Economic and Financial) for RV broadcasting.
  • JG
    Jory G.
    31 October 2018 @ 21:08
    I would be nice if possible to allow subscribers to share this with friends with out cost. Might net more subscribers.
    • M.
      Milton .. | Founder
      1 November 2018 @ 12:42
      Hey Jory, I can recommend letting them know about this and everything that's going on Real Vision as I'm sure they'll love to learn. Send me a message if you are interested in a referral link!
  • rm
    redwan m.
    31 October 2018 @ 21:13
    What is interesting is that Jay Newman and the other investors (mainly "vulture funds") interviewed are trying "to sell" the story of a promising Venezuela because of their own selfish interest of making money out of the purchase of Venezuelan sovereign bonds in the high 10s to the $ (85 to 90 per cent discount) which is where those bonds are trading right now. Of course, while Maduro is running the show with such a disastrous economy, the prospect of a profitable debt restructuring is remote to say the least hence the idea of coming up with this film. I find it amazing that Brian Price has not seen the real purpose while interviewing them.
    • JM
      Jason M.
      31 October 2018 @ 23:33
      You can criticize the motive but you are priveledged to have access to Jay Newman in the first place on this platform. Where else are you going to get that? Jeez...I think RealVision subscribers are missing the forest for the trees. You have to be intelligent enough to make your own call on this vs your risk tolerance and probably 90% of subscribers would have no chance of successfully investing in Venezuela with the current state of play. However, its a great story to see laid out and you are talking to the right guy here. Why complain? I say keep these comings. There are still many things of value in this video.
    • LJ
      Lucille J.
      1 November 2018 @ 12:24
      Jay Newman is just a man-nothing else or any thing special.
  • ed
    elizabeth d.
    1 November 2018 @ 00:11
    Suggested reading: The New Confessions of an Economic Hit Man by John Perkins. Chapter 33
    • tw
      theo w.
      1 November 2018 @ 09:25
      Spot on Elizabeth.
  • JB
    Jonathon B.
    1 November 2018 @ 06:47
    Each and every individual is in a terrible and sad situation, however it is a collective of individuals that ignored 100% of human history and elected Chavez. The outcome is guaranteed, the greatest tragedy from here is that spoilt well off western children will again ignore this pile of bodies and demand Venezuela 2.0, 3.0, 4.0 and for ever and ever as politicians leach on peoples fears for power. Machiavelli "the prince" while hundreds of years old is still being lived every decade or so around the world.
  • WB
    William B.
    1 November 2018 @ 06:07
    I have known Venezuela via Cuba and other dictatorships throughout my life. I hope that the US doesn’t end up like every other socialist country, but it’s quite likely we might. Won’t happen in my lifetime but that isn’t any solace. Venezuela only took a couple decades. Just today I read about the apathy of many young people to even vote. Voting is a small way to express our opinions, but it’s a start. I don’t advocate violence or disrespect of other’s rights. We must all get more involved to help our great country move forward together and prosper for each of us.
  • PB
    Pieter B.
    1 November 2018 @ 03:03
    Great documentary! Thanks a lot for the hard work!
    • PB
      Pieter B.
      1 November 2018 @ 03:44
      I was daytrading CME futures from Caracas Venezuela for a couple of months in 2017 staying in 4-5 star hotels for 5-25 USD per night with good working 4G internet. I met only several tourists during my several months on the ground. The Venezuelans are amazing people and the country is potentially the most beautiful I visited taking into account the variety of the landscape when I took weekend/week trips for around 5 USD per airplane ticket. The investment opportunities are incredible, also in the light of the relative low corruption and honesty/hard working mentality of the common person you meet daily relative to other countries I visited in the region (I guess it is predominantly the government/army etc where the bad apples are). I truly hope a solution is found asap and the country becomes liveable again for the average Venezuelan.
  • IZ
    Ignacio Z.
    1 November 2018 @ 03:39
    Ladies and gentlemen, in one word: SOCIALISM "Socialism is any system, of institutional aggression, against the free exercise of human action or business function (entrepreneurship)." Jesus Huerta de Soto Socialism has been screwing the world at least since the Roman Empire --->
  • TH
    Truman H.
    1 November 2018 @ 02:33
    After seeing that moment when the fellow is dragged screaming by armed uniformed men through a gate and then gun shots are heard, I may not be able to sleep tonight.
    • BP
      Brian P. | Real Vision
      1 November 2018 @ 03:38
      The images are disturbing and atrocious. Me and my editor, Kevin, have been combing through the footage for months on end and it’s all left quite an impression. However, we found solace in the fact that at least we’re helping people around the world get a sense of what’s happening in VZ. And maybe that helps lead to change? That’s the power of journalism. You didn’t know yesterday and today you do.
  • ml
    michael l.
    1 November 2018 @ 00:30
    Great documentary, Brian and team. I am a bit shocked by some of the comments here. Do some people have an "agenda" in the documentary? Maybe, but so what. Take what they say head on and point out where they are wrong. They seem to viewing the situation with eyes wide open, in my opinion. Better yet, explain how anything other than a new leader is going to fix this mess. And as for blaming this on what the CIA did or did not do years and years ago, well, Maduro couldn't have scapegoated it any better. This is the first time at RVTV that I feel like I have entered some bizarre corner of the internet where the ills of the world are blamed on some combination of the CIA, Bilderberg, the CFR, etc., etc.
  • JV
    James V.
    31 October 2018 @ 13:07
    Very nice job, Brian! Keep up the good work.
    • BP
      Brian P. | Real Vision
      31 October 2018 @ 23:58
      Thank you!
  • MS
    Marcio S.
    31 October 2018 @ 15:57
    Brian and Real Vison, first of all my sincere respect for the work done here. I strongly believe this video should be available is all social media vehicles. This will increase awareness of the major catastrophic situation Venezuela and its people are facing. I know you are driven by content quality and subscribers, but this one of those videos that will help on all fronts if available for everyone, including your subscriber base.
    • BP
      Brian P. | Real Vision
      31 October 2018 @ 23:57
      Thank you, Marcio. I appreciate that. Like you, I hope as many people as possible will watch and be impacted by this film.
  • EG
    Eduardo G.
    31 October 2018 @ 19:10
    As a Venezuelan, I cannot thank RealVision enough for this piece. No nonsense and it showed very concisely what the truth is. It may not be the type of content for the "we're here only to make money" type of people, but at least it helps to raise awareness about what's going on, think twice if you're ever approached by a "wealthy Venezuelan investor" for a business, and more importantly, to follow up on the situation of the country so that when the time for recovery comes, you may help us rebuild the country.
    • BP
      Brian P. | Real Vision
      31 October 2018 @ 23:54
      The honor is mine. Thank you, Sir. Glad it had an impact. More to come.
  • CT
    Christopher T.
    31 October 2018 @ 20:31
    Brian this is awesome! Congrats on putting this together, its fantastic. BTW - I bumped into you in NYC at Sarabeths on Park Ave a few months ago when you told me about this, great to see the finished product!
    • BP
      Brian P. | Real Vision
      31 October 2018 @ 21:42
      Of course! Thanks so much, Chris. Really appreciate it! All the best.
  • CM
    Cory M.
    31 October 2018 @ 19:34
    More of this please! Great content. Financial media isn't just about trade ideas - this is true trustworthy journalism. Thanks RV Team!
  • MW
    Matthew W.
    31 October 2018 @ 19:09
    I thought Chavez started accepting euros instead of u.s. dollars back in the 2000s, and so the u.s. turned to financial warfare, destroy the bolivar. A similar playbook to Iran in recent years...
  • JH
    Jesse H.
    31 October 2018 @ 19:01
    ...but they harm the people. A harmful and callous policy on the part of the US in my view.
  • JH
    Jesse H.
    31 October 2018 @ 18:59
    And I think it’s worth acknowledging other viewers’ remarks about the USD reserve currency strength (for now) and unhelpful sanctions. The problem with sanctions is they may discipline government...
  • JH
    Jesse H.
    31 October 2018 @ 18:57 can somehow work. It doesn’t, and especially so if your economy is 98% reliant on oil in terms of its exports.
  • JH
    Jesse H.
    31 October 2018 @ 18:55
    This was really well done, in my view. And it is very sad and disturbing to see what is happening to the people on a day-to-day basis. It is also a helpful story for those who think that run-away mome
  • VS
    Victor S. | Contributor
    31 October 2018 @ 18:42
    To talk of rebuilding Venezuela with Maduro in place is absurd. Also you never mention Socialism as the key problem??? Bring back the rule of law,capitalism /free markets ,sound money a 10% fair tax ,and payoff /kill the current leaders and you can think about rebuilding? The story was well done.
  • ZH
    Zayd H.
    31 October 2018 @ 18:00
    Well done RV. Impressive documentary. Am enjoying the shift in RV from being financial journalism to documentary/investigative style journalism. I, in particular, liked that the point of the documentary is to try and get people to think about how the international investment community can help improve Venezuela if/when a window opens. For all my Venezuelan friends, I really hope it happens sooner rather than later. Quick thought - why don't you syndicate this content via Vice/HBO?
  • fc
    frank c.
    31 October 2018 @ 17:52
    I did not think this was RVTV worthy...first disappointment..
  • AM
    Alonso M.
    31 October 2018 @ 17:37
    I enjoyed watching this. The same thing is happening in Iran and for similar reasons. Cause: corrupt domestic government. Catalyst for catastrophe: corrupt U.S. Government abuses its reserve currency privilege and implements sanctions, creating a shortage of the world's reserve currency in the country being sanctioned. Effect: starving people and chaos. Rinse and repeat. My parents left Iran a long time ago, expecting to return once the political turbulence of the time got sorted out. Turbulence not sorted out. House destroyed in war, and land expropriated. Since then, things have gotten worse for the average person living there. You need a pretty long time horizon (inter-generational wealth really) to be thinking about buying land in some of these places.
  • SW
    Scott W.
    31 October 2018 @ 17:06
    All governments are corrupt - it's to what extent that varies greatly from state to state. The more powerful or empowered a government, the more corrupt that government will be. States that are modeled on "negative rights" tend to be the most prosperous and the least corrupt while those modeled on "positive rights" are the least prosperous and the most corrupt. Negative rights being "that state shall not A, B, C...", positive rights being " the state will provide for the people A, B, C...." When we talk in terms of the "right guy" or the "right (correct) party" that will "take care of the people" or that "cares about the people", we embrace positive rights. And empirical data support that these tend to fail or at the very least remain mired in perpetual crises.
  • PU
    Peter U.
    31 October 2018 @ 16:19
    Well done Brian!
  • RA
    Ricardo A.
    31 October 2018 @ 14:14
    I wish the CIA's dubious maneuvers had been mentioned in this documentary. Not defending Chavez/Maduro at all, but simply labelling these guys as disingenuous and too simplistic view of the world. Its as if the US/CIA wants to bring them to their knees .. in order to push through "free-markets" and obviously get a handle on their resources.
    • AM
      Andrew M.
      31 October 2018 @ 14:47
      It doesn't serve Jay Newman's agenda. Also, I can't help but think that both he and Greylock are using the documentary to gain new assets / clients for their funds that own Venezuelan debt. At the very least I think that that should have been directly disclosed
    • RA
      Ricardo A.
      31 October 2018 @ 15:55
      It still was a good documentary and I applaud RV for doing it. Let's just not be naive
  • MM
    Mike M.
    31 October 2018 @ 15:12
    Much appreciated, and all we know and hear from Cable news are crickets. RV has a bright future and highlights how much we do not know even in our own hemisphere. Please continue to peel the geopolitical onion that might give us more insights on how and where to trade.
  • OT
    Omar T.
    31 October 2018 @ 13:18
    Raoul: To me, RV's is at its best when it is providing fresh real insight based on lived experience. There are many other sources of documentary like information, and while this one was well done and informative, it felt to me that it needed a couple of minutes of the RV special ingredient. For example: I would like to see interviews with insiders with lived experience sharing their experience with a country that was corrupt like Venezuela and then turned around. This video basically says "it is bad" and we hope regime change will come one day to fix it, and that is just too superficial of an answer for me because as the video points out, a change in leadership can keep it the same or make it worse.
    • RG
      Ramon G.
      31 October 2018 @ 14:17
      dont belueve they will want to be seen on TV saying that, even if they are away from Venezuela for sure they still have family members there!
  • RP
    Reinaldo P.
    31 October 2018 @ 13:43
    As venezuelan I appreciate the effort to inform the insightz of such a terrible situation, of course no crisis comes without opportunities, but don't be naive. Timming a change of regime is hard, Venezuela's been into 2 decades long one. A third of the lenght of Cuba's. Plus modern dictatorships are designed to last longer, since they are dressed as democratic regimes. I know I'm biased and I'm aware of it while thinking on investment opportunities in that place where I no longer live, but I hope I can add some perspective to some of you. Regards.
    • RP
      Raoul P. | Founder
      31 October 2018 @ 14:12
      Very interesting...we'd love to hear more from your perspective here.
  • RM
    Russell M.
    31 October 2018 @ 13:40
    The world fiddles while Venezula burns. The United snaps its fingers and the world assembles for the assinine complete destruction of civilization in Iraq. Yet the neocons wont bother to risk breaking an egg in Venezula that is already completely destroyed? Morally bankrupt on both counts.
  • JW
    Jim W.
    31 October 2018 @ 13:21
    I think this was a great piece of work--while I've seen a few short articles, I have not seen much long form so well done and is exactly why I buy realvision.
  • PF
    Pablo F.
    31 October 2018 @ 12:32
    Raoul. Loved it. I’ve recently been looking at farmland in Vzla. The key here is to buy it and be able to keep it for a few years until the regime changes. What I mean with “ be able” is to keep it away from the Venezuelan government. If you can pull this off is going to be and awesome speculation. The prices are ridiculously low. Keep up the good work. Best- Pablo
    • RP
      Raoul P. | Founder
      31 October 2018 @ 12:58
      Totally agree. Have talked about this a lot in GMI. Beach land is another favourite.
  • SP
    Sat P.
    31 October 2018 @ 12:55
    Great documentary. I have been wanting to know what's going on in Venezuela for some time but did not trust what I was reading in the MSM. I trust what is shown here 1000% more than the left-wing BBC or even FT which is now just an SJW blog.
  • RK
    Roger K.
    31 October 2018 @ 12:52
    Today's world you can not sneeze without a counter argument. It's now a passion and some counter argue for the sake of argument. I like this piece. RV keep it up and thank you. I believe you bring the true picture of any situation. That's the trust I have with RV. That's it.
  • gg
    gurdeep g.
    31 October 2018 @ 11:14
    Well said Raoul...and RV more of these documentaries please

Mark Yusko

Morgan Creek Capital Management, Co- Founder, CEO, & CIO

Mark Yuskois the Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management. He is also the Managing Partner of Morgan Creek Digital Assets. Morgan Creek Capital Management was founded in 2004 and currently manages close to $2 billion in discretionary and non-discretionary assets. Prior to founding Morgan Creek, Mr. Yusko was CIO and Founder of UNC Management Company (UNCMC), the Endowment investment office for the University of North Carolina at Chapel Hill. Before that, he was Senior Investment Director for the University of Notre Dame Investment Office.Mr. Yusko has been at the forefront of institutional investing throughout his career. An early investor in alternative asset classes at Notre Dame, he brought the Endowment Model of investing to UNC, which contributed to significant performance gains for the Endowment. The Endowment Model is the cornerstone philosophy of Morgan Creek, as is the mandate to Invest in Innovation. Mr. Yusko is again at the forefront of investing through Morgan Creek Digital Assets, which was formed in 2018. Morgan Creek Digital is an early stage investor in blockchain technology, digital currency and digital assets through the firm’s Venture Capital and Digital Asset Index Fund.Mr. Yusko received a BA with Honors from the University of Notre Dame and an MBA in Accounting and Finance from the University of Chicago.

Anthony Scaramucci

SkyBridge Capital, Founder & Co-Managing Partner

Prior to founding SkyBridge in 2005, Scaramucci co-founded investment partnership Oscar Capital Management, which was sold to Neuberger Berman, LLC in 2001. Earlier, he was a vice president in Private Wealth Management at Goldman Sachs & Co. In 2016, Scaramucci was ranked #85 in Worth Magazine’sPower 100: The 100 Most Powerful People in Global Finance. In 2011, he received Ernst & Young’s “Entrepreneur of the Year –New York” Award in the Financial Services category. Anthony is amember of the Council on Foreign Relations (CFR), vice chair of the Kennedy Center Corporate Fund Board, a board member of both The Brain Tumor Foundation and Business Executives for National Security (BENS), and a Trustee of the United States Olympic & Paralympic Foundation. He was a member of the New York City Financial Services Advisory Committee from 2007 to 2012. In November 2016, he was named to President-Elect Trump’s 16-person Presidential Transition Team Executive Committee. In June 2017, he wasnamed the Chief Strategy Officer of the EXIM Bank. He served as the White House Communications Director for a period in July 2017. Scaramucci, a native of Long Island, New York, holds a Bachelor of Arts degree in Economics from Tufts University and a Juris Doctor from Harvard Law School.

Michael Saylor

MicroStrategy, Co-Founder

Mr. Saylor is a technologist, entrepreneur, business executive, philanthropist, and best-selling author. He currently serves as Chairman of the Board of Directors and Chief Executive Office of MicroStrategy, Inc. (MSTR). Since co-founding the company at the age of 24, Mr. Saylor has built MicroStrategy into a global leader in business intelligence, mobile software, and cloud-based services. In 2012, he authoredThe Mobile Wave: How Mobile Intelligence Will Change Everything, which earned a spot onThe NewYork TimesBest Sellers list. Mr. Saylor attended the Massachusetts Institute of Technology, receiving an S.B. in Aeronautics and Astronautics and an S.B. in Science, Technology, and Society.

Alex Saunders

Nugget's News, Founder & CEO

Alex Saunders is the founder and CEO of Nugget’s News, a digital media company focused on all things crypto. Alex has been captivated by cryptocurrency since 2012 and in 2017 he began educating globally on the benefits of cryptocurrency and how to safely acquireit. Nugget’s News has been listed as a top-20 podcast by Business Insider, ShapeShift and Lifehacker and has over 120k YouTube subscribers with 9 million total views.Alex is also heavily focused on his cryptocurrency education platform Collective Shift which currently serves over 4,500 members. provides his unique perspectives by utilising his expertise in fundamental analysis, technical analysis and market sentiment. He is working towards his mission of making it easier for everyone to understand the financial world.

James Putra

TradeStation Crypto, Inc., Sr. Director of Product Strategy

James helped launch TradeStation Crypto’s offeringwhichutilizesa true online brokerage model that self-directed investors and traders have come to expect for equities, futures,and foreign currency markets. He is a reputed crypto asset specialist and blockchain thought leader focused on helping people find innovativeways to participate in this space. He is active in the blockchain community with speaking engagements, TV appearances and mentoring.James has over 15 years of experience in the Fintech industry.

Raoul Pal

Real Vision, Co-Founder & CEO

Raoul Pal is the Co-Founder and CEO of Real Vision, the world’s pre-eminent financial media platform, which helps members understand the complex world of finance, business, and the global economy. Real Vision members also have access to Real Vision Crypto, a cryptocurrency and digital assets video channelwatched by over 80,000 people.In addition, Raoul has been publishing Global Macro Investor since January 2005 to provide original, high quality, quantifiable and easily readable research for the global macro investment community hedge funds, family offices, pension funds and sovereign wealth funds. It draws on his considerable 31 years of experience in advising hedge funds and managing a global macro hedge fund. Global Macro Investor has one of the very best, proven track records of any newsletter in the industry, producing extremely positive returns in eight out of the last twelve years. He retired from managing client money at the age of 36 in 2004 and now lives in the tiny Caribbean island of Little Cayman in the Cayman Islands. Previously he co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. Raoul moved to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe. In this role, Raoul established strong relationships with many of the world’s pre-eminent hedge funds, learning from their styles and experiences. Other stop-off points on the way were NatWest Markets and HSBC, although hebegan his career by training traders in technical analysis.

Peter McCormack

What Bitcoin Did, Journalist

Peter McCormack is a full timejournalist/podcaster covering topics such as Freedom, Human Rights, Censorship and Bitcoin. Peter created and hosts the What Bitcoin Did Podcast, a twice-weekly Bitcoin podcast where he interviews experts in the world of Bitcoin development, privacy, investment and adoption. Launched in November of 2017, the podcast has grown to over 100 episodes with a guest list that is a testament to the diversity of knowledge and opinions that represent the broader Bitcoin community. Expanding his growing list of humaninterest recordings, documentaries and films Peter has recently launched theDefiancepodcast andDefianceTV.

Caitlin Long

Avanti Financial Group, Founder & CEO

22-year Wall Street veteran who has been active in bitcoin and blockchain since 2012. In 2018-20 she led the charge to make her native state of Wyoming an oasis for blockchain companies in the US, where she helped Wyoming enact 20 blockchain-enabling laws. From 2016-18 she jointly spearheaded a blockchain project for delivering market index data to Vanguard as chairman and president of Symbiont, an enterprise blockchain start-up. Caitlin ran Morgan Stanley’s pension solutions business (2007-2016), heldsenior roles at Credit Suisse (1997-2007) and began her career at Salomon Brothers (1994-1997). She is a graduate of Harvard Law School (JD, 1994), the Kennedy School of Government (MPP, 1994) and the University of Wyoming (BA, 1990).

Hunter Horsley

Bitwise Asset Management, CEO

Hunter Horsley is Chief Executive Officer of Bitwise Asset Management. Prior to Bitwise, he was a product manager at Facebook, working on advertiser products including the multibillion-dollar sponsored content ecosystem and ad breaks in videos. Before Facebook, Horlsey was a product manager at Instagram, responsible for multiple advertising products generating several hundred million dollars of revenue. He is a graduate of the Wharton School at the University of Pennsylvania, with a B.S. in economics. Recently, Horsley was named a member of Forbes’ 2019 “30 Under 30” list.

Luke Gromen

Forest For The Trees, Founder & President

Luke Gromen has 25 years of experience in equity research, equity research sales, and as a macro/thematic analyst.He is the founder and president of macro/thematic research firm FFTT, LLC, which he founded in early 2014 to address and leverage the opportunity he saw created by applying what clientsand former colleagues consistently described as a “unique ability to connect the dots” during a time when he saw an increasing “silo-ing” of perspectives occurring on Wall Street and in corporate America.FFTT caters to institutions and sophisticated individuals by aggregating a wide variety of macroeconomic, thematic and sector trends in an unconventional manner to identify investable developing economic bottlenecks for his clients.Prior to founding FFTT, Luke was a founding partner of Cleveland Research Company, where he worked from 2006-14.At CRC, Luke worked in sales and edited CRC’s flagship weekly thematic research summary piece (“Straight from the Source”)for the firm’s clients.Prior to that,Luke was a partner at Midwest Research, where he worked in equity research and sales from 1996-2006.While in sales, Luke was a founding editor of Midwest’s widely-read weekly thematic summary (“Heard in the Midwest”) for the firm’s clients, in whichhe aggregated and combined proprietary research from Midwest with inputs from other sources.Luke Gromen holds a BBA in Finance and Accounting from the University of Cincinnati and received his MBA from Case Western Reserve University.He earned the CFA designation in 2003.

Meltem Demirors

CoinShares, Chief Strategy Officer

Meltem Demirors is Chief Strategy Officer of CoinShares, an investment firm that manages billions in assets on behalf of a global investor base, and is a trusted partner to investors and entrepreneurs navigating the digital asset ecosystem. Meltemoversees the firm’s managed strategies group and its New York office and leads corporate development. Previously, she was part of the founding team of Digital Currency Group. As a veteran investor in the digital currency space, she has invested in over 250 companies in the ecosystem. Meltem is passionate about education and advocacy, and teaches the Oxford Blockchain Strategy Programme and co-chairs the WEF Cryptocurrency Council.