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The Source of All Evil Is At It Again - Goldman SachsVenezuelan Opposition Party Accuses Goldman of ‘Aiding and Abetting’ Dictatorial RegimeDr. Fly Mon May 29, 2017 3:50pm EST 7 Comments Business as usual for the players at Goldman. Venezuela’s opposition party is accusing Goldman of ‘aiding and abetting’ the murderous dictatorial regime via the purchase of state oil backed bonds. I suppose the opposition party would like Goldman, and other bankers, to apply an ethical code to their investments. This is naive thinking, especially in a world filled with murderous regimes. The Wall Street Journal reported yesterday that Goldman had purchased $2.8b worth of bonds for 31 cents on the dollar (~$865m) for state oil company PDVSA, maturing in 2022. Source: Reuters “Goldman Sachs’ financial lifeline to the regime will serve to strengthen the brutal repression unleashed against the hundreds of thousands of Venezuelans peacefully protesting for political change in the country,” wrote Julio Borges in a letter to Goldman Sachs President Lloyd Blankfein. “Given the unconstitutional nature of Nicolas Maduro’s administration, its unwillingness to hold democratic elections and its systematic violation of human rights, I am dismayed that Goldman Sachs decided to enter this transaction.” The letter adds that Congress will open an investigation into the transaction and that he will recommend “to any future democratic government of Venezuela not to recognize or pay these bonds.” A Goldman Sachs spokesman said the bank declined to comment. Venezuela’s Information Ministry, which fields queries on behalf of the Finance Ministry, did not respond to requests for comment. The bonds were not sold directly by Venezuela’s central bank but rather through an intermediary, three finance industry sources, including one from Goldman, told Reuters on Monday. “The intermediaries are in Europe,” said the source at Goldman. Mercenary capitalism, the most profitable type of trade. |
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