Econintech is a libertarian think tank in Venezuela, one of the only of its kind. They were the first organization to promote Bitcoin as a means of helping combat hyperinflation and advocate for free markets and sound banking. I had the pleasure of interviewing Dr. Rafael Acevedo and Luis Cirocco, the founders of Econintech, alongside 71 Republic’s Vice President of Operations, Indri Schaelicke, at the Mises Institute in Auburn, Alabama. We discussed the roles of Bitcoin and gun control in the Venezuelan crisis, what Americans can do to help, and whether or not there is any glimmer of hope for the socialist country. A transcript (lightly edited for clarity) and audio file of the interview are both below.
In Venezuela, self-declared interim president Juan Guaidó is failing to ignite a military revolution. As a result, 25 Venezuelan soldiers who side with him fled. They now seek asylum in the Brazilian Embassy in Caracas. Knowing that their lives are at risk for defecting, they had few options. After all, betraying Maduro can carry a life sentence.
Similar to former President Obama’s uncertainty to intervene in Libya, President Trump is hesitant to commit U.S. troops to Venezuela. This country, which has faced numerous economic crises, is now mired in a political conflict between a US-backed resistance and the government. There are calls for humanitarian actions to prevent the Venezuelan government from harming its people. Others cite the Monroe doctrine to push Russian and Chinese influence outside of Latin America. But the use of military action creates many unknown scenarios, making it challenging to predict what the outcome might be. It is better to use caution than take the risk.
It’s been more than three months since Juan Guaidó declared himself the Interim President of Venezuela. He has since tried to end Nicolás Maduro’s dictatorship ruling the country with an iron fist. The Venezuelan interim president has been doing his best to ignite a revolution to bring back democracy and dignified life to citizens of his country. At first, he tried to peacefully remove Maduro and his crew from power. But since it didn’t work, he has recently resorted to more violent means.