Venezuela: State of Disaster

Featuring Jay Newman

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.

Published on
31 October, 2018
Topic
FX, Macro, Latin America
Duration
30 minutes
Rating
47

Comments

  • MS

    Matt S.

    13 11 2018 06:08

    0       0

    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 11 2018 23:02

    0       0

    That was an excellent piece. Thank you.

  • RP

    Robert P.

    6 11 2018 20:54

    1       2

    Disappointing that the word "socialism" never entered into the discussion. Whitewash of a bankrupt philosophy.

  • SH

    Stephen H.

    6 11 2018 10:51

    0       0

    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.

  • cr

    cc r.

    5 11 2018 05:13

    0       1

    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.

  • RS

    Robert S.

    4 11 2018 16:25

    3       4

    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 11 2018 14:29

    1       0

    Fascinating...but a very sad state of affairs. It really brings to life the fears of hyperinflation.

  • LC

    Liliana C.

    4 11 2018 06:14

    1       0

    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!

  • JM

    John M.

    3 11 2018 15:57

    3       1

    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 11 2018 07:12

    1       0

    Socialism doesn't, never has done, and never will, work, period.

  • SC

    Shou C.

    3 11 2018 03:25

    0       0

    this video makes me start thinking...

  • SD

    S D.

    3 11 2018 02:24

    1       0

    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?

  • TS

    Todd S.

    3 11 2018 01:29

    2       0

    Thank you real vision for having the courage to go on site and tell the story from within.

  • GG

    Gerardo G.

    2 11 2018 19:54

    7       0

    please consider making this public, i think its important for particularly for americans to see

  • AK

    Anton K.

    2 11 2018 15:31

    6       0

    Birds of a Feather Flock Together..., Jeremy Corbyn speaking with Maduro on Venezuelan Radio in 2014 https://www.youtube.com/watch?v=7eL8_wtS-0I

  • WM

    Will M.

    2 11 2018 14:55

    1       0

    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.

  • JB

    Jason B.

    2 11 2018 05:36

    10       0

    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!

  • JD

    John D.

    2 11 2018 04:20

    4       0

    Nice Job Brian... Well Done !!!

  • JF

    Jennifer F.

    2 11 2018 02:29

    2       0

    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 11 2018 02:29

    2       0

    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.

  • dm

    dan m.

    2 11 2018 00:57

    6       2

    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 11 2018 00:57

    4       1

    A population that thinks it can get something for nothing deserve what they get- which is nothing. Bernie 2020?? Warren 2020?!! Go ahead.

  • YW

    Yowshi W.

    2 11 2018 00:26

    1       2

    With energy so cheap they should mine crypto

  • SS

    Steven S.

    1 11 2018 22:29

    1       0

    on topic posted today - i post here as an FYI -https://www.youtube.com/watch?v=2gqGimHsX-c

    "Colombia and Brazil will INVADE Venezuela?"

  • FG

    Flavio G.

    1 11 2018 18:48

    2       0

    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.

  • SL

    Seth L.

    1 11 2018 16:57

    18       7

    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.

  • KC

    Kenneth C.

    1 11 2018 16:25

    8       0

    And also whoever does the editing on this and numerous other videos, really a fantastic job.

  • KC

    Kenneth C.

    1 11 2018 16:01

    6       0

    Brian, great job. Caveat, you don't get to move on upwards without training your replacement.

  • JC

    Juan C.

    1 11 2018 15:16

    7       0

    Good documentary for PBS but it lacks the depth (Economic and Financial) for RV broadcasting.

  • GO

    Gary O.

    1 11 2018 06:49

    6       5

    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!

  • JB

    Jonathon B.

    1 11 2018 06:47

    5       1

    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 11 2018 06:07

    9       0

    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.

  • LA

    Linda A.

    1 11 2018 03:47

    6       0

    This was painful to watch. I pray for an early Maduro death for the havoc he inflicts.

  • IZ

    Ignacio Z.

    1 11 2018 03:39

    18       2

    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 ---> https://www.youtube.com/watch?v=YyXGH7ptyeo

  • PB

    Pieter B.

    1 11 2018 03:03

    2       0

    Great documentary! Thanks a lot for the hard work!

  • TH

    Truman H.

    1 11 2018 02:33

    5       0

    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.

  • ml

    michael l.

    1 11 2018 00:30

    8       1

    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.

  • ed

    elizabeth d.

    1 11 2018 00:11

    8       0

    Suggested reading: The New Confessions of an Economic Hit Man by John Perkins. Chapter 33

  • rm

    redwan m.

    31 10 2018 21:13

    10       5

    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.

  • JG

    Jory G.

    31 10 2018 21:08

    3       6

    I would be nice if possible to allow subscribers to share this with friends with out cost. Might net more subscribers.

  • CT

    Christopher T.

    31 10 2018 20:31

    6       0

    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!

  • CM

    Cory M.

    31 10 2018 19:34

    9       1

    More of this please! Great content. Financial media isn't just about trade ideas - this is true trustworthy journalism. Thanks RV Team!

  • EG

    Eduardo G.

    31 10 2018 19:10

    34       0

    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.

  • MW

    Matthew W.

    31 10 2018 19:09

    6       2

    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 10 2018 19:01

    5       2

    ...but they harm the people. A harmful and callous policy on the part of the US in my view.

  • JH

    Jesse H.

    31 10 2018 18:59

    1       1

    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 10 2018 18:57

    7       1

    ...money-printing 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 10 2018 18:55

    1       0

    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.

    31 10 2018 18:42

    9       1

    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.

  • DK

    Daniel K.

    31 10 2018 18:18

    14       5

    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.

  • ZH

    Zayd H.

    31 10 2018 18:00

    9       5

    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 10 2018 17:52

    4       7

    I did not think this was RVTV worthy...first disappointment..

  • MC

    Minum C.

    31 10 2018 17:37

    6       1

    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 10 2018 17:06

    12       0

    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 10 2018 16:19

    5       0

    Well done Brian!

  • MS

    Marcio S.

    31 10 2018 15:57

    13       1

    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.

  • MM

    Mike M.

    31 10 2018 15:12

    4       1

    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.

  • RA

    Ricardo A.

    31 10 2018 14:14

    10       2

    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 crooks...is 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.

  • V!

    Volatimothy !.

    31 10 2018 13:49

    18       3

    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.

  • RP

    Reinaldo P.

    31 10 2018 13:43

    26       0

    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.

  • RM

    Russell M.

    31 10 2018 13:40

    3       3

    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

    J W.

    31 10 2018 13:21

    4       0

    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.

  • OT

    Omar T.

    31 10 2018 13:18

    6       0

    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.

  • JV

    James V.

    31 10 2018 13:07

    4       0

    Very nice job, Brian! Keep up the good work.

  • SP

    Sat P.

    31 10 2018 12:55

    3       3

    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 10 2018 12:52

    4       2

    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.

  • PF

    Pablo F.

    31 10 2018 12:32

    7       1

    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

  • gg

    gurdeep g.

    31 10 2018 11:14

    7       3

    Well said Raoul...and RV more of these documentaries please

  • AM

    Andrew M.

    31 10 2018 10:42

    12       23

    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.