SMM1, March 30: relations between Venezuela and the United States continue to deteriorate!

Following the severing of diplomatic relations with the US Commission, on the 28th, US National Security adviser Bolton and Treasury Secretary Nutsin announced at a White House press conference sanctions against Venezuelan state oil company (PDVSA), and freezing PDVSA's assets in the United States. Including a branch of Citrogo Oil. Nutchin said that if the PDVSA wants to lift sanctions, it must hand over control to the U.S.-backed opposition. Oil prices jumped more than 2% on the day because of fears that oil supplies would be reduced after Venezuelan oil companies were sanctioned.

According to the latest news today, the Venezuelan Supreme Court has decided to ban Guayido from leaving Venezuela, in addition to freezing Guayido's bank accounts, assets and all financial instruments in Venezuela. Bolton responded that anyone who tried to hurt Guayido would face serious consequences.

Venezuela has come to such a sad point that the country is in turmoil, supplies are in short supply, and whose responsibility lies with who needs to look for clues in the country's history.

Since Venezuela introduced constitutional government in 1958, the Democratic Action Party and the Christian Socialist Party have been in power in turn until Chavez broke the tradition after taking office in 1998. Chavez was in power for a total of 14 years and died in 2013. Is the president loved by the Venezuelan people. Why is Chavez so loved by the people? This is closely related to oil.

In December 1922, with a sudden blowout of an exploration well in Venezuela, the oil column could reach tens of meters high, and Venezuela changed from a poor agricultural country to a resource-rich country. By the 1970s, Venezuela had the highest proven oil reserves in the world, and the Venezuelan people had plenty of food and clothing, and the per capita GDP was comparable to that of the United States. While oil has brought affluence, it has also brought about a huge gap between the rich and the poor, giving birth to the profit-eating class. Until 1998, Chavez was born with a huge advantage of 16 percentage points. He is an anti-American standard-bearer to the outside world, catering to the poor at home, providing free health care, free education, free housing, free oil, and greatly meeting the equality and welfare needs of the poor. Chavez came to power when oil prices continued to rise, in 2008 is a record $150 a barrel, oil exports earned by Chavez for the people, the Venezuelan people once became the richest people in Latin America.

However, such an economy is obviously unsustainable. When the price of crude oil fell to $33 in 2009, oil revenue could no longer cover the huge welfare system, high inflation, high murder rate, and various social problems surfaced. 2013 Chavez also died of cancer, the country's economic and social situation is full of problems, very worrying.

At this time, Maduro seized the love of the people for Chavez, came out to declare that "I am the son of Chavez," and said that he would unswervingly continue Chavez's policies and welfare. It seemed to make people feel that Maduro was the embodiment of Chavez, and he was able to win the presidential election. But Maduro's luck doesn't seem to be so good. In the past 13 years, oil prices have not been able to do anything, not only is the welfare system unsustainable, but the people are getting deeper and deeper into trouble, and 2018 inflation is completely out of control, creating the only war-free hyperinflation in human history.

Oil made Venezuela, Iran, Iraq, Saudi Arabia and many other countries once rich, once enjoyed endless wealth and glory in the world, but also brought them disaster, war, inflation and unrest. This is not the fault of oil, nor is it the fault of money, the fault lies in human beings themselves, human beings should reflect more, get something for nothing, know that there is no free lunch in the world!