Sunday, August 26, 2018

Feel the Bern: Venezuela's filthy-rich oil-looting elites about to get their comeuppance

By Monica Showalter August 25, 2018

As Venezuela descends into ruin and millions flee their homeland, one byproduct of its lethal socialism has generally gotten off scot-free: the crony capitalist oil billions of Venezuela's Chavista nomenklatura elites, made rich by looting Venezuela's oil bounty.

Well, until now..........Among the targeted assets are at least 17 South Florida homes, condos and horse ranches ranging in total value from $22 million to $35 million, based on property assessments in public records and real estate market estimates. They include a condo in the Porsche Design Tower in Sunny Isles Beach, a residence in the affluent Bay Point area of Miami, four homes in the exclusive Cocoplum neighborhood of Coral Gables, and two ranches in the wealthy equestrian community of Wellington in Palm Beach County.........The socialization of the state oil company by Venezuelan strongman Hugo Chávez directed millions in oil profits from what should have been reinvestment and maintenance funds toward social spending programs to buy votes from the poor.  Sound familiar?  Net result: The oil company started falling apart and production began falling................ Read more

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