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Venezuela – A country about to Implode

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Venezuela Crisis

If you have been following the trends in international news for the past few weeks, you must have come across violent images of protests in Venezuela and the current political turmoil that has gripped the oil-rich nation. This crisis, however, is not recent.

A deteriorating economy accompanied by food shortage, inflation and severe unemployment have only exacerbated the tumultuous political situation. Hundreds of thousands of protesters have come out on the streets of the capital city Caracas, demanding a reform of the current governmental regime of Nicolas Maduro. At least 38 people have been killed and more than 750 injured in the last six weeks. But where does this problem stem from and how did it get so acute?

Venezuela was ruled by the socialist champion Hugo Chavez from 1999 till his death in 2013. Soon after his hand-picked follower Nicolas Maduro became the President of the country and leader of the United Socialist Party (PSUV). The defenders of Chavez’s socialist policies are known as Chavistas; they strongly believe that Venezuela’s natural oil reserves (oil exports from 95% of the country’s total exports) were appropriately exploited by the two charismatic leaders to reduce inequality and lift the country out of crippling poverty.

Nicolás Maduro

Nicolás Maduro | Source: BBC

However, the opposition (a mixture of different parties with centrist, center-left, leftist and center-right ideologies) has accused the PSUV of exploiting the poor sections, eroding democracy due to its intolerance of dissent and exploiting the economy for selfish motives. The current crisis is popularly viewed as a playoff between these two factions.

The past few years have seen a dramatic rise in recession and inflation (close to 700 percent in 2017), unemployment, criminal activities (such as drug trafficking and murder), poverty and authoritarianism. There is an acute food and medicine shortage. People stand in overnight queues just to buy basic household supplies; many end up scavenging for food in dumpsters. Hospitals do not have basic sanitary equipment and medicines. Diseases are on the rise, several of them fatal. This is fast snowballing into a humanitarian crisis.

Those who can afford to do so have fled the country. But millions of citizens have spoken out against the government’s apathy. Since 2014, mass-based protests have been carried out on a daily basis in major cities where peaceful demonstrators are met by tear gas and hostility. So far, the current round of demonstrations have been compelling with the masses determined to see fruitful results.

Instead of taking steps to promote democracy and improve existing conditions, the government of Nicolas Maduro on 30th March 2017 announced that the Supreme Court would be taking over the legislative (i.e. law-making) powers of the opposition-run National Assembly. This move was decried by the opposition as it is seen as a step closer to establishing a dictatorship by merging judicial and legislative powers under one man.

Hugo Chávez Former President

Hugo Chávez | Source: BBC

This announcement was met with massive protests staged by supporters of the opposition, followed by a brutal crackdown by the government, police forces and the military. Even after the Supreme Court reversed its ruling soon after, dissatisfaction among the people remained high.

While the time for protests was ripe, the opposition and anti-government protesters made several demands for a reform in how the current government was operating. These include the following –

  1. General elections in 2017
  2. A dismissal of the judges responsible for the Supreme Court ruling of 30th March
  3. Release of political activists imprisoned on the grounds of creating dissent
  4. Import of essential medicines through a humanitarian channel to offset the severe shortage facing the country

Contrary to popular demand, President Maduro instead called for the formation of a new constituent assembly because of the apparent threats he believed the opposition was making. The new constitution thus created would act as a counterweight to the opposition’s power and deter any attempts at an overthrow of the government. This move has been severely criticized by the nation; it has been seen as a step by Maduro to hold on to his power indefinitely.

Critics also state that the regional elections planned for this year and general elections of next year would be postponed due to such a measure. Maduro staunchly believes that the opposition has partnered with its foe, the USA and other foreign groups to destabilize his authority. According to him, the economic crisis exists due to a US-supported capitalist scheme.

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I am a twenty-one year student pursuing MA. My interests include reading, writing, learning new languages and socializing with like-minded individuals. As I am a polyglot, I speak English, Hindi, Marathi, Spanish and French. I am enthusiastic about global cultures and keenly follow international affairs. I enjoy reading literature and graphic novels. I am an ardent fan of chocolates, cats and adult colouring books. I believe in gender equality and equal rights as well as treatment for the LGBTQ community.

India

Ram Mandir Opening For “Darshan” In 2023

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Ram Mandir Opening 2023 | News Aur Chai

The Ram Mandir in Ayodhya is expected to allow visitors by December 2023, with the completion of construction only in 2025.

Sources in the Shri Ram Janmabhoomi Teerth Kshetra have revealed that the colossal project of building the Ram Mandir in Ayodhya, Uttar Pradesh, will be opening for devotees towards the end of 2023. In contrast, the project’s entire construction completion is expected towards the end of 2025. The sanctum sanctorum (Garbha Griha), along with the mandir’s first floor, will be ready by December 2023. Devotees will be allowed to visit the long-awaited mandir soon after the construction is completed.

An ANI report said, “The grand Ram Mandir being constructed in Ayodhya will be opened for devotees from December 2023. Sources told ANI that Garbhagriha, all five mandaps and the first floor will be ready by December 2023 and the mandir will be opened for devotees”.

The sanctum sanctorum will be as high as 161 feet and built using Rajasthani marble and stones. Engineers and architects are taking all measures to ensure the longevity of this enormous project. The second stage of construction is expected to begin in December this year. Currently, the structure is at a standstill as a result of monsoons. Another reason for the delay is the coronavirus pandemic that depleted the force with which the mandir’s construction was expected to go on.

The announcement of the mandir being opened to visitors in 2023 has brought up questions about the political agenda. It is believed that the Bharatiya Janata Party (BJP) aims to use the mandir to catapult themselves into a position of advantage during the 2024 Lok Sabha elections. Opening the mandir to devotees in December 2023 will give the BJP an easy 6-month gap to the general elections in 2024.

The opening of the long-awaited Ram Mandir in Ayodhya could be the factor that diverts the public, at least the Hindu’s in favour of BJP. Thus, securing them a vote bank based on religious sentiments upheld by the party in their previous tenure as the ruling party.

The Ram Janmabhoomi Mandir will be 360 feet long, 235 feet wide, and 20 feet high mandir will be completely ready by the end of 2025. The project will include amenities and structures like museums, archives, research centre, Sant Niwas, gau and Yagya shala, Etc. The main attraction is the Ram Mandir.

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Business

How SEBI’s New Margin Rule Is Affecting Retail Traders?

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SEBI Margin Rule | News Aur Chai

Securities and Exchange Board of India has introduced new margin rules for traders. Traders and Brokers are not happy with the new regulations because they will have to invest a large amount of cash in fulfilling margin requirements for trade.

SEBI had introduced the new margin rule in the year 2020 for intraday traders. It is being implemented in a phased manner. Traders were supposed to maintain 25 per cent of the peak margin in the first phase; the margin was raised by 50 per cent in the second phase. In the third phase, as per the new margin rule, intraday traders will have to pay a 100 per cent upfront margin. According to new norms, the margin requirements will be calculated four times during every trading session because the money margin must be greater than the need.

As per the new rule, brokers must collect margin from investors for any purchase or sale, and if they fail to do so, they will have to pay the penalty. Thus, brokers will not receive power of attorney. Brokers cannot use power of attorney for pledging anymore.

Those investors who want to make use of margin will have to create margin pledges separately. As per the new rule, investors will have to pay at least a 30 per cent margin upfront to avail a margin loan. Shares brought today cannot be sold tomorrow. Funds from shares sold today cannot be used for new trades on the same day.

The market experts said that there must be proper adjustments for implementing new rules, or it may create chaos, trouble and disturbance to the market participants. The CEO and founder of Zerodha broking firm, Nithin Kamath tweeted that, “the day when the new rules came into effect was the dreaded day for brokers, exchanges, intraday traders”.

Traders Are Not Happy:

Changes in rules have evoked strong reactions from traders because they will have to invest a large amount of cash in fulfilling margin requirements for trades as per new margin rules. Even the trading in futures and options will become more expensive. Traders are disappointed because they will have to pay up more money to bet in stock markets. As per new margin rules, Traders are also liable for the penalty if the rules are not followed during the trading session. If a trader wants to buy Nifty worth Rs 10 lakh, he will have to pay a 20 per cent margin of around 2 lakh. If the margin of the trader does not meet the need, he will be penalized. Traders will have to pay the minimum amount for opening the Multilateral Trading facility account, and they have to maintain a minor balance at all times.

Why Gas SEBI Introduced A New Margin Rule?

SEBI has introduced new rules to protect retail investors from purchasing difficulty. The intended goal of SEBI behind new margin rules is to bring down the difficult market situation and avoid huge fluctuation in stock markets during extreme stress. The new margin rules are likely to bring transparency to the market; it is expected to strengthen the market’s safety.

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Hollywood

Keanu Reeves Returns with “The Matrix Resurrection”

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Matrix Resurrections 2021 | News Aur Chai

The expectation of the unexpected fourth instalment of The Matrix Resurrections in the sci-fi establishment has started with another banner prodding the arrival of its first trailer.

The film Matrix 4 comes out 18-years after The Matrix Revolutions. It is planning to be the last film in a trilogy reporting the transformation of Computer programmer Thomas Anderson into cybercriminal Neo. As he finds the conventional world, he occupies a recreated reality.

Loosening up the expectation, with a special promotional. It highlights red and blue pills sit next to each other underneath the clear message: ‘The Choice is yours.’ Fans of the famous establishment will perceive the pills as a definitive choice given to Neo, played by Keanu Reeves, as he picks between life in the conflict assaulted real world or the ‘beautiful prison’ of a substitute reality. Penetrating static fills in as the scenery, as small strings of Matrix code has seen falling inside the pills before the whole scene liquefies.

Fans can proceed with their adventure on WhatIsTheMatrix.com, an intelligent pick your-own-experience style site. Given a similar decision there, red brings you down a rabbit hole where you’re told: ‘This is the moment for you to show us what’s real.’ Then scenes from the film teaser, showing the slight hindrance between the natural world and the fake world known as The Matrix. One of the Best Scenes is Reeves’ Neo gulping a blue pill while a lot more seasoned, a balder man shows up in his appearance.

The scenes reviewed rely upon which pill selection and each emphasis on the decision made. The Red Pill requests that the watcher go further into the reality behind the Matrix. While the Blue Pill cautions them to avoid it again so as not to agitate the norm and welcome undesirable risk.

Still, the viewer’s decision makes, in any case, every secret seems to end with a brief look at Keanu Reeves as Neo, with different eyes. He either collaborates with characters who could be his partners in the film or plans to fight against its expected scalawags, be they Agents, pernicious projects, or even people.

The person who clicks on the blue pill will hear Harris’s voiceover saying: “You’ve lost your capacity to discern reality from fiction.” Before encouraging the viewer to embrace that their situation is genuine. At the current time, streaks on the screen, and Harris peruses it, saying, “anything else is your mind playing tricks on you.” By contrast, ones’ who click on the red pill hear Abdul-Mateen’s voice revealing to them that while they trust it’s the current time — once more. With Abdul-Mateen perusing the time out loud — “that couldn’t be further from the truth.” Regardless, a progression of quick-cut shots from “Revivals” streaks on the screen during the two situations. As each time a viewer taps on a pill, the recording changes.

‘This could be this is the first day of the rest of your life, but if you want it, you gotta fight for it.’ The portrayal wraps while showing star Keanu Reeves prepared to battle. Then, at that point, finishing on a vile note, they show somebody contacting the PC port at the rear of their head and inquire: ‘We don’t want anyone to get hurt, do we?’

From visionary movie producer Lana Wachowski. The new film reunites unique stars Keanu Reeves and Carrie-Anne Moss as Neo and Trinity, the infamous roles they made well known.’ The first Matrix film in 1999 met with much essential acclaim upon its introduction. The element is following up by two other movies, which were both delivered in 2003. Warner Bros. uncovered the title for the fourth Matrix film during its CinemaCon board. The Matrix Resurrections will release on December 22, 2021.

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