Venezuelan Opposition Leader Declares Himself Interim President: Trump Agrees


Venezuelan opposition leader Juan Guaidó declares himself interim president. Trump agrees via Tweet.


Trump Agrees

The Wall Street Journal reports Trump Recognizes Venezuelan Opposition Leader as Interim President.

On a sound stage on a street in Caracas, facing thousands of antigovernment demonstrators, Mr. Guaidó took the oath of office, holding up his right hand while holding the constitution in his left hand. He did so on a national holiday that is considered historic in Venezuela: Sixty-one years ago, Marcos Perez Jimenez became the last dictator forced from office.

“Today, Jan. 23, 2019, in my capacity as president of the National Assembly, before God Almighty, Venezuela and my fellow deputies, I swear to formally assume the powers of the national executive as the president in charge of Venezuela,” Mr. Guaidó said.

The Trump administration had in recent days signaled strong support for Mr. Guaidó, who on Jan. 5 had been named by fellow lawmakers to head the National Assembly. On Tuesday, Vice President Mike Pence declared in a video in which he mixed English with Spanish that the U.S. would support Mr. Guaidó. “We stand with you, and we will stay with you until democracy is restored,” Mr. Pence said.

One active military officer said soldiers are suffering through the same scarcities as ordinary Venezuelans. The country has the world’s highest inflation, crime is rampant and academic surveys show many Venezuelans are unable to get enough to eat.

“A general earns $49 a month, a colonel $35, a captain $30, a lieutenant $25, a soldier, $8,” the officer said. “How can you maintain your family? They are part of a population that is hungry and also lacks medicines.”

Venezuela Bonds Soar

Bloomberg notes Venezuela's Defaulted Bonds Soar as Anti-Maduro Protests Mount.

Venezuelan bond prices jumped to the highest in six months as large anti-government protests throughout the country spurred speculation that President Nicolas Maduro’s regime could be coming closer to an end.

As Venezuelans took to the streets, the country’s $4 billion of defaulted notes due in 2027 surged 2.4 cents to 30.7 cents on the dollar, the highest price since June. Other overseas notes from the government and state-owned oil company joined along in a broad rally.

Creditors have been stuck in limbo since November 2017, when Maduro announced he would suspend debt payments amid an economic crisis, while U.S. sanctions prevented any sort of renegotiation that would pave the way for payments to resume.

Opposition Bounce

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It's interesting to see the word "soar" in reaction to a move from 29 cents on the dollar to 31 cents on the dollar.

The world awaits the response from Venezuela's military.

Mike "Mish" Shedlock

Comments (9)
No. 1-7

One fake Vietnam Veteran American-Indian grifter bangs a drum in front of some white children - 24/7 fake legacy news on "white privilege"

Massive demonstrations against socialism in Venezuela...not even a peep.

Burning statues of Maduro...not even a peep.

President Nicolas Maduro better hope that Trump doesn't pull a Clinton/obama Libya/Syria/Egypt/Ukraine type regime change...


Plenty of my friends and family from Ecuador have now turned so against socialism and immigration that you'd think they would be Trump supporters.


Nothing works like empty stomachs to get the rascals thrown out. Lets hope the new rascals are better than the old ones. The people have suffered long enough.


The citizens have nothing to lose. Are the police changing sides yet? Because if they don't, the people know that everybody including the cops have to sleep sometime.


chump is in a pickle,Venuzuela will become a Chinese military outpost if maduro isn't run off.See those islands in westpac that China turned into basically a FOB with airfields and long range strat bombers,that's comin to Venuzuela unless Nato invades.


It sucked before Hugo really sucks now. Venezuela is basically doomed. Surprised no mention of Cuba interference. The country has a lot of oil and Chevron probably wants it back.


A Captain does not make a $30 dollar wage. Prices and wages are in bolivars. They might light to earn $ of € as long as the amount was fixed. It is crazy to express the wage in Mozambique as just $2/day, when lettuce costs 1¢ and rent is $1/week.

Global Economics