{"id":374509,"date":"2018-08-23T04:44:13","date_gmt":"2018-08-23T03:44:13","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/goldman-sachs-losing-big-on-billion-dollar-venezuela-gamble\/"},"modified":"2018-08-23T04:44:13","modified_gmt":"2018-08-23T03:44:13","slug":"goldman-sachs-losing-big-on-billion-dollar-venezuela-gamble","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/goldman-sachs-losing-big-on-billion-dollar-venezuela-gamble\/","title":{"rendered":"Goldman Sachs Losing Big on Billion-Dollar Venezuela Gamble"},"content":{"rendered":"<div>\n<p>      <!-- START CONTENT --><\/p>\n<p><a href=\"https:\/\/www.breitbart.com\/national-security\/2018\/08\/21\/report-goldman-sachs-losing-big-billion-dollar-venezuela-gamble\/\"><strong>Breitbart<\/strong><\/a><br \/>August 22, 2018<\/p>\n<p><strong>American megabank Goldman Sachs is likely to lose heavily on their controversial purchase of Venezuelan bonds, according to an <a class=\"x5l\" href=\"https:\/\/www.wsj.com\/articles\/goldman-faces-losses-on-venezuelan-bond-deal-that-drew-criticism-1534683601\" target=\"_blank\" rel=\"noopener external\">analysis<\/a> by the<em>\u00a0Wall Street Journal\u00a0<\/em>on Monday.<\/strong><\/p>\n<p>According to the<em>\u00a0Journal, <\/em>\u201cMutual funds operated by Goldman Sachs Asset Management faced potential losses of at least $63 million on the bonds in the 12 months ended June 30,\u201d while all told market-value losses on the investment are\u00a0likely to\u00a0exceed $250 million.<\/p>\n<p>The significant losses come after Venezuelan dictator Nicol\u00e1s Maduro <a href=\"https:\/\/www.breitbart.com\/national-security\/2018\/08\/20\/venezuela-businesses-close-following-60-fold-minimum-wage-increase\/\">announced<\/a> a 96 percent devaluation of the country\u2019s bolivar\u00a0currency alongside a number of other economic reforms such as increasing the national minimum wage by 3500 percent. Most investors believe this will only further weaken the country\u2019s economy by increasing unemployment and plans to increase government spending, with inflation expected to top one million percent by the end of 2018.<\/p>\n<p>Goldman Sachs purchased around $2.8 billion in Venezuelan bonds last May in a move that was immediately <a href=\"https:\/\/www.breitbart.com\/national-security\/2017\/05\/31\/venezuelan-opposition-blasts-goldman-sachs-2-8b-bond-deal-maduro-regime\/\">criticized<\/a> by democracy activists who pointed out that such money would go straight into the hands of Maduro\u2019s socialist dictatorship,\u00a0<a href=\"https:\/\/www.breitbart.com\/national-security\/2017\/09\/01\/human-rights-report-documents-extensive-human-rights-abuses-venezuela\/\">responsible<\/a> for egregious human rights abuses.<\/p>\n<p><a href=\"https:\/\/www.breitbart.com\/national-security\/2018\/08\/21\/report-goldman-sachs-losing-big-billion-dollar-venezuela-gamble\/\">Read more<\/a><\/p>\n<p>      <!-- END CONTENT --><\/p>\n<p style=\"color:#333; font-size:11px;\">This article was posted: Wednesday, August 22, 2018  at  7:41 am<\/p>\n<hr class=\"dotted_line\"\/>\n<hr class=\"dotted_line\"\/><!-- share and follow --><br \/>\n      <!-- end of share and follow --><\/p>\n<div class=\"print_sub\">\n<h3 class=\"sub_titles\">&#13;<br \/>\n        \t<a href=\"https:\/\/www.prisonplanet.com\/report-goldman-sachs-losing-big-on-billion-dollar-venezuela-gamble.html\/print\/\" title=\"Print\" rel=\"nofollow\"><img decoding=\"async\" class=\"WP-PrintIcon\" src=\"https:\/\/www.prisonplanet.com\/wp-content\/plugins\/wp-print\/images\/printer_famfamfam.gif\" alt=\"Print\" title=\"Print\" style=\"border: 0px;\"\/><\/a><br \/>\nPrint this page.<\/h3>\n<\/p><\/div>\n<hr class=\"dotted_line\"\/>\n<hr class=\"dotted_line\"\/>\n<p><!--\n      \n\n<div class=\"nextpage\">\n              <\/div>\n\n \n -->    <\/p>\n<p><!--\n<iframe loading=\"lazy\" width=\"600\" height=\"338\" src=\"http:\/\/www.youtube.com\/embed\/Gm2pZEeYN0E?list=UUvsye7V9psc-APX6wV1twLg\" frameborder=\"0\" allowfullscreen><\/iframe>\n--><\/p><\/div>\n<p><a href=\"https:\/\/www.prisonplanet.com\/report-goldman-sachs-losing-big-on-billion-dollar-venezuela-gamble.html\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BreitbartAugust 22, 2018 American megabank Goldman Sachs is likely to lose heavily on their controversial purchase of Venezuelan bonds, according to an analysis by the\u00a0Wall Street Journal\u00a0on Monday. According to the\u00a0Journal, \u201cMutual funds operated by Goldman Sachs Asset Management faced potential losses of at least $63 million on the bonds in the 12 months ended [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-374509","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/374509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=374509"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/374509\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=374509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=374509"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=374509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}