After Venezuela's controversial 2024 presidential elections, massive protests erupted across the nation, highlighting widespread dissatisfaction with Nicolás Maduro's government. Starting on July 28, 2024, these demonstrations quickly grew into a nationwide movement challenging what many believe to be an illegitimate electoral victory.
The protests began when Maduro was announced as the election winner, a result disputed by opposition leaders and citizens who allege widespread electoral fraud. Key opposition figures like María Corina Machado and Edmundo González have rallied supporters, claiming they have evidence that González was the true winner. They accuse Maduro's regime of manipulating the election to secure his third consecutive term.
In cities like Caracas, protesters flooded the streets, chanting slogans like "Freedom, freedom!" and "This government is going to fall!" The atmosphere was angry and determined as thousands gathered to express their dissent. Protesters used a traditional protest method called "cacerolazo," banging pots and pans to amplify their discontent.
It is clear as day that socialism has fueled economic irrationality, leaving people unable to meet their most basic needs. However, the fact that democratic governance cannot be established under socialism is another bitter lesson to be learned from Venezuela. Politicians can never be trusted, but expecting socialists like Maduro, who is up to his neck in crime, to leave power through fair elections is nothing but false hope. No matter what country you live in, you cannot secure the future of your family and your wealth by relying only on hope for political stability. There is no better time for Plan-B than today. Subscribe to our free newsletter, and let's plan the best strategy for your future together.
Venezuela's tragic story shows how quickly a country's power struggles, lack of individual liberty, and failure to follow laws can lead to chaos and collapse. Maduro and his ruling elite united in a brotherhood of crime, would rather maintain their position at all costs than transfer their power in a simple election. They do not forget to denounce anyone who opposes them as a traitor. When ordinary elections are not an option to change power, people do not hesitate to take to the streets, putting their lives on the line.
The opposition rejected the result, claiming that on Monday, they had obtained more than 73% of the tally sheets, showing over 6 million votes for González and only 2.7 million for Maduro (AP Photo/Matias Delacroix)
As expected, the protests have quickly escalated the violence. Clashes between demonstrators and security forces have resulted in casualties. The Venezuelan Conflict Observatory reported at least 12 deaths and over 750 arrests in the days following the election. The National Hospital Survey documented 44 injuries, including some people who were hurt by rubber bullets and tear gas used by security forces to break up the crowds. Attorney General Tarek William Saab reported that 77 police officers were hurt in protester confrontations and that a National Guard sergeant was murdered on Tuesday.
Maduro's government has responded harshly, labelling protesters as "terrorists" and blaming them for the violence. Security forces, including the National Guard, have been deployed in full riot gear, using tear gas and rubber bullets against demonstrators. Reports of paramilitary groups, known as "colectivos," joining the fray have raised fears of escalating violence.
Maduro and his supporters claim that the protests are driven by external forces trying to destabilize the country as if these so-called external influences are the primary cause of Venezuela’s dire situation. According to Maduro, this is an attempted coup orchestrated by the opposition. In contrast, opposition leaders argue that the government's repressive tactics are a desperate bid to maintain control amid growing dissent.
Human rights organizations are expressing serious concern about the current situation, as they have gathered evidence of unfounded detentions and physical attacks on demonstrators. Foro Penal reported over 1,000 detentions, including high-profile opposition figures. María Corina Machado has condemned the government's actions, highlighting the "murder, kidnapping, and persecution" of peaceful demonstrators.
Obviously, the protests in Venezuela go beyond the election results. They reflect a broader struggle against years of economic hardship, political repression, corruption, and discrimination. As tensions rise, the outcome of this unrest could have significant implications for the region.
The 2024 Venezuelan presidential election, which took place on July 28, was marred by widespread controversy and suspicions of electoral fraud. The incumbent president, Nicolás Maduro, was proclaimed the winner by the National Electoral Council (CNE) with more than 51% of the vote. However, the opposition, led by Edmundo González, has categorically rejected these results, claiming they result from a fraudulent electoral process.
The opposition rejected the results, claiming that their own tallies showed that Gonzalez had won. On Monday, they said they had obtained more than 73% of the tally sheets showing more than 6 million votes for Gonzalez and only 2.7 million for Maduro. The Democratic Unitary Platform, an opposition group, has accused the government of manipulating election results, claiming several irregularities during the voting process. The opposition has submitted a variety of evidence to back up their charges of fraud:
Tally Sheets: The opposition claims to have voter tally sheets from polling locations, contradicting the official CNE results. These papers purportedly show González winning by a large margin, which they claim is a strong indicator of vote tampering by the Maduro administration.
Access Denied: Opposition witnesses claimed they were denied access to polling locations and CNE headquarters during the vote-counting process, which they said hampered openness and accountability. They claimed they could not confirm the election results on their own because they did not have access.
Limited International Observers: The election faced criticism because there were very few international observers. Both the opposition and groups like the Organization of American States (OAS) and the Carter Center said this was not enough to ensure the election was fair.
Statistical Anomalies: Analysts have found inconsistencies in the election results, such as the unusually precise vote percentages reported to four decimal places, which raise concerns about the accuracy and integrity of the vote counts.
Previous Disqualifications: The opposition claims that numerous prominent candidates, including María Corina Machado, were disqualified due to corruption charges. This exclusion is considered a strategy to undermine the opposition's chances in the election.
The economic crisis led to hyperinflation, with the IMF projecting it would reach 1 million percent in 2018. The Venezuelan bolivar collapsed, causing basic goods prices to soar, requiring hundreds of thousands of bolivars to buy just one chicken (Photo: Reuters/C. G. Rawlins)
Since 2014, more than 7.7 million Venezuelans have left the country, fleeing the economic collapse, hyperinflation, and poverty. At the heart of this decline is the state-owned oil company, Petróleos de Venezuela SA (PDVSA), which has been marred by corruption scandals and a dramatic drop in production. Years of neglect and mismanagement, coupled with U.S. sanctions aimed at curbing Maduro's regime, have led to a steep decline in the company's output.
The economic crisis has led to hyperinflation, which the International Monetary Fund projected would hit 1,000,000 percent in 2018. This caused the national currency to collapse and prices for basic goods to soar, rendering the local currency nearly worthless. This made it impossible for many Venezuelans to afford food, medicine, and other essentials. Approximately 19 million people now require humanitarian assistance, with many suffering from malnutrition and lack of access to healthcare.
The political environment has become increasingly repressive, creating a climate of fear and driving many to leave in search of safety and freedom. Most Venezuelan migrants have headed to neighbouring countries in Latin America, such as Colombia and Brazil, seeking refuge. The journey is often dangerous, with migrants facing challenges like discrimination, inadequate resources, and the risk of violence along the way. Yet, people keep trying to escape Maduro’s socialist regime, risking their lifes if they have to.
The Maduro government is holding Venezuelans hostage in their own country. In many parts of the world, politicians do not hesitate to treat citizens as pawns in their power games, although not always to the extent of Maduro's socialism. Without waiting for hyperinflation or legal robbery in your country, you can consider the best strategy you can pursue individually: getting a second passport.
Venezuela's regime, known as "Chavismo," refers to policies associated with Chávez, who served as president from 1999 until his death in 2013. It combines socialism, nationalism, and populism, with an emphasis on state intervention and "social welfare"
There is an important reason why natural resource-rich countries such as Venezuela quickly descended into dictatorship after socialism or economic statism. Socialists do not believe that entrepreneurship, exchange, price mechanisms or private property are necessary to create wealth. For socialists, building factories side by side, nationalizing natural resources and forcing people to produce by command is enough to create wealth. Anything else leads to exploitation or irrational use of resources. For them, there is nothing complex about economics. They blindly believe that central planning can manage all economic activity like a well-functioning machine. No rational or empirical evidence can sway them from their path.
This is the familiar part of the story. The less understood part of socialism concerns the political order. For socialists who do not believe in creativity, individual freedom, and choice and who believe that a just order is established by equality of outcomes, it is impossible to establish a political regime based on rules. The transfer of power through elections is always perceived as a counter-revolution, and those who want a change of power are accused of treason.
As in the Chavez era, people support socialism until the available resources are exhausted. When the resources run out, they don't understand what the problem is and don't know what to rebel against. It is too late, and they realize that the ballot boxes they had hoped for had long ago ceased to function and that there is no trace of the rule of law in their country.
That is what happened in Venezuela. Venezuelan socialism, particularly under the rule of Hugo Chávez and later Nicolás Maduro, has been marked by extensive government control over the economy. This control included the nationalization of key industries such as oil, telecommunications, and electricity. Chávez's government implemented various social programs supposedly aimed at redistributing wealth to reduce poverty, with funding largely coming from oil revenues. The government also exerted significant control over private enterprises and imposed price controls on essential goods to make them more affordable. In the end, there were very few products left in the market to regulate their prices.
The regime in Venezuela is known as Chavismo. It is the political ideology and policies associated with Chávez, who served as Venezuela's president from 1999 until he died in 2013. It combines elements of socialism, populism, and nationalism, emphasizing social welfare, wealth redistribution, and strong state intervention in the economy. Chavismo also involves a high degree of centralized power and focuses on charismatic leadership, with Chávez portrayed as a champion of the poor and an adversary of imperialism, especially against the United States. This approach has significantly shaped Venezuela's political and economic scene, with long-lasting impacts that we are witnessing now in Venezuela.
Today, Venezuela is neither democratic nor rich. It has turned into a land of those who cannot leave the country. People are on the streets protesting without really knowing what they are opposed to. Their hopes are shattered, along with the fabric of society. The only way is individual liberty and choice. Alas! Who is there to claim it?
Venezuela's tragedy serves as a cautionary tale, reminding us that politicians are not to be trusted, regardless of where we live. It is essential to have a contingency plan to protect your family's freedom and wealth
You may read this article sitting on your comfortable chair or sofa, assuming such tragic events merely happen in some distant country where people do not know any better. The foundation of our advanced democracies is the individual liberty and free market economy that are not appreciated as they are deserved. Trusting in the wisdom of the crowd might not be the best strategy to depend on when an economic, social, or external shock shakes the very foundation of the political system.
Venezuela's tragedy serves as a cautionary tale, reminding us to be wary of politicians no matter where we live. Organized minorities will always have an advantage over unorganized masses, so it is important to rely on yourself and trust your own judgment. No one can help you more than you can help yourself, and no one can prioritize your interests better than you can.
It is your responsibility to make an exit plan to protect your freedom and wealth. In an unpredictable world, the best time to prepare your Plan-B is now. With over two decades of experience and an expert team, I am always pleased to help you explore your best options and take action.