Corporate Coup: The Failed Attempt to Overthrow Venezuela Democracy

Corporate Coup looks at the attempted overthrow of the elected government of Venezuela, an intervention which, despite open backing by the United States, failed spectacularly.

In January of 2019, the Trump Administration recognized a little-known opposition lawmaker named Juan Guaidó as President of Venezuela. While Washingtons history of coups in Latin America is well-documented, this step was unprecedented: Never before had the United States offered legal recognition to a new government before an actual change in leadership had taken place.

Within months it became clear that the attempt at regime change had fallen flat: all Venezuelan territory, government ministries, and the countrys military remained under the control of President Nicolás Maduro. While US officials, notably Trumps Venezuela Envoy Elliott Abrams, boasted that roughly 54 countries had followed Washingtons lead in recognizing Guaidós authority, the vast majority of United Nations member states rejected the attempted coup. Four years on, Venezuelas government is firmly in place and Guaidó is nowhere to be seen.

In this fast-paced story, investigative reporter Anya Parampil provides a narrative history of the Chavista revolution and offers character sketches of the figures who took over its leadership after Hugo Chávezs death in 2014. She shows how Guaidós shadow regime consisted of individuals with deep connections to transnational corporations that sought to overturn the revolution and exploit Venezuelas resources. In particular she uncovers their plot to steal Citgo Petroleum, the countrys most valuable international asset. Corporate Coup exposes the hidden personalities and interests driving US policy on Venezuela, revealing that while the recognition of Guaidó failed at changing reality on the ground in Caracas, it succeeded in facilitating the unprecedented looting of the countrys extensive foreign reserves.

This gripping story from Venezuela shines light on the grim, shadowy character of a US foreign policy that tramples on democratic norms around the globe. And it points to a dramatic consequence of such policy: the rise of a new, multipolar world heralding the end of US empire.