Ever since he assumed office in 2013, Nicolas Maduro has presided over the downward spiral of the Venezuelan economy. As he snacked on empanadas from his desk drawer during live television addresses to his nation, the rest of the Venezuelan citizenry was reduced to eating pets. The nationalization of the oil industry and pegging the currency upon it worked when oil prices were extremely high, but when the price bottomed out, the economy collapsed to unmeasurable depths. The Venezuelan currency was so inflated, they had to weigh stacks of paper notes in order to calculate any of its value.
At the moment, the people have risen up. They’ve taken to the streets and have begun to stand for change. The White House has decided they will recognize the new interim President, Juan Guaido, to replace President Maduro. Guiado has already sworn himself in as the interim President. And Nicolas Maduro had given the U.S. Staff 72 hours to vacate the country. It’s a fluid situation at the moment, but it looks as though the balance of power is shifting in one of the most volatile and Anti-American regimes in our hemisphere.