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Today, Explained

Fear and uncertainty in Venezuela

08 Dec 2025

Transcription

Chapter 1: Is President Trump planning military action in Venezuela?

0.757 - 14.867 Noel King

Is President Trump planning to send troops to Venezuela? Last week while reporters pressed him on the Pentagon's boat strikes, Trump reiterated his claim that this is about preventing fentanyl from entering the U.S.

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15.033 - 27.641 Ana Vanessa Herrero

People that are trying to get their son or their daughter off of this poison that they've been fed. I think you're going to find that there's a very receptive ear to doing exactly what they're doing, taking out those boats.

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27.721 - 37.719 Noel King

And then he said this. Very soon we're going to start doing it on land, too. In Venezuela, people can do nothing but wait. Trump's off-the-cuff remarks sparked these cycles of anxiety and fear.

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38.26 - 51.061 Ana Vanessa Herrero

I did see people going to the supermarket. I mean, the meat was gone and the chicken was gone. But then two days after that... Then just more waiting. Nothing had happened. Everything was back to normal.

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52.604 - 56.43 Noel King

Coming up on Today Explained, in Venezuela, waiting for the Americans.

60.325 - 73.442 Unknown

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73.943 - 94.941 Noel King

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95.422 - 111.578 Unknown

That's O-D-O-O dot com. Support for this show comes from Odoo. Running a business is hard enough, so why make it harder with a dozen different apps that don't talk to each other? Introducing Odoo.

112.059 - 135.778 Noel King

It's the only business software you'll ever need. It's an all-in-one, fully integrated platform that makes your work easier. CRM, accounting, inventory, e-commerce, and more. And the best part? Odoo replaces multiple expensive platforms for a fraction of the cost. That's why over thousands of businesses have made the switch. So why not you? Try Odoo for free at Odoo.com.

Chapter 2: How are Venezuelans coping with the threat of U.S. military action?

707.91 - 710.033 John Lee Anderson

Peace forever, forever, forever.

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710.84 - 733.017 Ana Vanessa Herrero

He actually said that that was like a national mandate for people to party all week long because we needed, well, his followers needed to show the U.S. and the world that they're not worried about anything because he claims this is just a psychological war that they've survived in the past.

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735.629 - 764.425 Ana Vanessa Herrero

He has survived successfully in the past pressure, not only from the U.S., but internally from the opposition, protests, demonstrations, hundreds of thousands of people on the streets. He believes that if he sits down, or at least this is what he is showing, if he sits down and wait, this is all going to go away. And he has done that in the past. So, you know, that's his strategy.

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764.526 - 766.53 Ana Vanessa Herrero

It has worked and it makes total sense.

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774.695 - 810.068 Noel King

Anna Vanessa Herrero in Caracas. She reports for The Washington Post. Coming up, what Maduro wants from a reporter who knows him. Support for today's show comes from Quince. We've all handed someone a gift and received a force. Thank you. I love it. This holiday season, Quince can give you something that's both luxurious and built to last. So you can finally get a real thank you.

810.408 - 823.365 Noel King

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823.565 - 842.417 Unknown

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842.397 - 873.414 Noel King

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873.994 - 891.76 Noel King

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Chapter 3: What is the current economic situation in Venezuela?

1167.509 - 1189.954 Noel King

And then he became his vice president. Chávez discovered that he had cancer in about 2011, early 2012, and privately knew he was dying. And he had a televised moment when he told the Venezuelan nation that he was, you know, he hoped to be around, but if anything happened to him.

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1190.534 - 1195.78 Ana Vanessa Herrero

They elect Nicolás Maduro as president of the Bolivarian Republic.

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1195.979 - 1216.738 Noel King

You know, Chavez died in 2013, and that's exactly what happened. Nicolas Maduro replaced him in power. To look at Venezuela today from the U.S. is to see a country that is an economic basket case, a country that people desperately want to flee because they are so poor. What was Venezuela like? What was happening when Maduro took over?

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1219.047 - 1244.674 Noel King

from 2003 or 4, I think it was, until about 2012, 13, you had this worldwide spike in oil prices that brought in about a trillion dollars to Venezuela. It's a massive amount of money for any of the countries of the hemisphere outside of the United States. Venezuela was almost like an extension of the United States. They were Of course, there were the poor. There were the poor in the hills.

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1245.234 - 1253.684 Noel King

And the hinterland was basically undeveloped. But the oil prices in the world, you know, they went up to $150 a barrel at one point.

1254.005 - 1262.655 Unknown

The country grew dependent on imports, and the steep drop in oil prices left it unable to pay for even some of the most basic necessities.

1262.686 - 1280.998 Noel King

They dropped precipitously right around the time Nicolas Maduro succeeded Chavez in office. And it went from, let's say, 120 to 40 or something. It was a real drop in their income. As oil prices went up, Venezuela spent it all.

1281.018 - 1287.63 Ana Vanessa Herrero

And we're going to continue into the intensification of the hyperinflation that we have at the moment.

1287.931 - 1291.901 Noel King

the effect on Venezuelan society was immediate.

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