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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (153)	3/20/2017 5:09:43 PM
From: John Pitera	Respond to of 13803

Hi Richard, that is a fascinating article.... Venezuela has been a complete basket case with a true "lost in space" banana republic government and leadership. I'm sure the corruption is off the charts in the country. Pdvsa pledged a 49.9% stake in its U.S. refinery subsidiary Citgo to Russia’s state-controlled Rosneft in November, as loan collateral; the news leaked out in the week before Christmas, Argus Media reported, adding: “PdV’s agreement with Rosneft means *that 100 percent of Citgo is now pledged as collateral against distressed parent firm PdV’s debts … I*t is not clear yet if the previously undisclosed loan agreement between PdV Holding and Rosneft violates covenants relating to other debt obligations imposed on Citgo by its parent firm PdV …” So Russia may end up owning half of Citgo... but not enough to control it... they would not manage it any better. what a mess! John