![]() ![]() They are, and ought to be an extremely wealthy, well-run country, but they are not. Venezuela has the largest proven oil reserves in the world. JS: I think this is an extreme exception, but I think it’s a strategy that makes a lot of sense given the moment we’re in. But maybe this is the exception that proves the rule. ![]() You know, as a Carlyle Group executive, that’s got to introduce some uncertainty into the investing world when governments do this. I’ve seen individuals disintermediated from their money, but we are disintermediating Venezuela from their sovereign wealth. I don’t think I’ve ever seen this before. HH: Now we have a response thus far that includes the President, backed by the Secretary of State, at the UN, and John Bolton on Twitter and on social media disintermediating a country from its sovereign wealth. And I think because of those factors, it demands a very robust response. And thirdly, it’s the humanitarian crisis that’s built with millions pushed outside the country, and even more millions displaced inside the country, a country of 31 million, Hugh, probably 10 million people living on the edge of starvation. One is this dynamic, very young 35 year old leader, Juan Guaido, and second is the ongoing press of the economic meltdown in the country with inflation rates approaching a million percent. And it, a couple things have come together. I think there’s a two in three chance that the Maduro regime goes down. McMaster when I interviewed him, the opinion of most senior American administration officials, that there had to be an organic “Venezuelan Spring.” It appears we have one on our hands. to Stay Hands Off,” which was my opinion at the time, and it was also the opinion of H.R. HH: Now four months ago, you wrote a piece for Bloomberg – “Suffering Venezuelans Need the U.S. This is a rotten apple that I hope falls. So there is a linkage between these two dictatorships. So they’re capable, and we ought to remember, sadly, they’ve been trained by the Cubans. It certainly has the power to keep Maduro in power unless there’s a huge political press against that, or even a military press against it. And it’s a capable military by the standards of the region. ![]() I spent a lot of time in and out of there several years back when I was commander of Southern Command. Let’s start with your experience there, Southern Command, your knowledge of the country and its military. We going to talk about Venezuela this morning? It is always a pleasure, even, and thank you for taking time away from the Carlyle Group this morning. HH: So pleased to welcome Admiral James Stavridis, retired United States Navy where he served for 33 years, including as NATO’s allied supreme commander, and for our purposes, perhaps even more important, as the combatant commander for Southern Command, that part of the American military that includes not just the Caribbean, but of course, Latin and Central and South America, including Venezuela. There are very few people outside of the presently serving government other than Admiral Stavridis whom the country should be listening to on how to respond to the #VenezuelanSpring: Very few Americans have as much experience with The Venezuelan Spring as Admiral James Stavridis (USN, Ret.) who before he became Allied Supreme Commander was the Combatant Commander of Southern Command, which oversaw the American military’s activities over the vast region of Central and South America as well as the Caribbean, including of course Venezuela. ![]()
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