ElmoKMB

Last week I said it looked like we could be stealing about $11 billion from Venezuela. The question I had after learning that was, if it isn't going back to Venezuela, where is it going? So I followed the money. Treasury's own data shows about $11 billion more than normal flowing into the State Department's account since February. Venezuela's records show $300 million coming back. Venezuela has to ask Washington's permission to spend its own oil money. A State Department official told Congress, "It's their money, but ... they have to get our permission." An emergency order blocks every American court from touching it, so the creditors Venezuela owes, most of them American, get nothing. So who does get paid? The Pentagon took a 35 percent stake in an oil company owned by Alejandro Betancourt, who got rich on Maduro-era contracts. The Miami money laundering investigation into him was closed while that deal came together, though the Justice Department denies ordering it closed. A Venezuelan-born banker facing 20 years got a pardon after $3.5 million went to the president's super PAC in his daughter's name. And in 2012, Betancourt was in Jeffrey Epstein's inbox, copied on a Venezuelan oil pitch. Last week I asked if we were stealing from Venezuela. After following the money further, I think the better question is who "we" is, because it isn't you and me. It's a small circle of people close to this White House who are getting paid out of another country's oil money, while the Treasury Secretary tells Congress he can't give out a number I found in 15 minutes. The full article is up on Substack , with every document linked (link is in my bio). Enjoy!