Coin Stories with Natalie Brunell Tracy Shuchart: The Real Energy War - Venezuela "Oil Theater," AI's Power Grab, Surging Debt, and Why Bitcoin & Hard Assets Outperform
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Jan 15, 2026 Tracy Shuchart, a senior economist and energy markets analyst, dives into the complex narrative surrounding U.S. intervention in Venezuela. She reveals how China, Russia, and Iran have quietly taken control of the country’s resources. The discussion explores why central banks are hoarding gold, the misconceptions about the petrodollar, and how sanctioned governments are turning to Bitcoin and stablecoins. Shuchart emphasizes the importance of hard assets amidst rising debt and AI's demand for commodities, while sharing insights about her own Bitcoin holdings.
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Geopolitics, Not Just Oil
- Venezuela's intervention is driven more by national security and critical minerals than pure oil grabs.
- China, Russia, and Iran have grown entrenched in Venezuela, making it a geopolitical priority for the Pentagon.
Oil Is Theater Without Rebuilding
- Venezuela's oil infrastructure is dilapidated and needs massive investment to restore meaningful output.
- Cheaply claiming oil is misleading because $100–$200 billion and many years would be required to rebuild production.
Petrodollar Nuance: Pricing, Not Pact
- The petrodollar story is overstated; what matters is oil pricing in dollars, not a formal dollar-only agreement.
- Energy trades occur in many currencies, but dollar pricing still creates pervasive dollar exchange flows.
