RE:A second DARK EAGLE Missile you say !Interesting article from Bloomberg but it doesn't speak to the issue of the 2020 PDVSA bonds (with the Citgo collateral). It only considers vanilla PDVSA instruments. With the 2020 bonds it shouldn't matter if Trump is hawkish or not. Or, if it does, it would matter in a different way. It all hinges on whether the 2016 warning from the National Assembly (that the 2020 bonds would be void) was correct. If it was correct then Citgo is worth more. If it was not correct (i.e., 2020 bonds and collateral are valid) then Citgo is worth less. I'm in the camp that the bonds are toast. Note that to argue that they're valid you kind of have to take what would have been Maduro's side of the argument in 2016. Today, no US court could fail to understand Maduro's true nature. But this is a weird situation because the market is clearly on the side that the bonds (and collateral WILL ultimately be deemed valid). Last trade was at 86 cents on the dollar. But markets can be wrong. And US investors have a long history of failing to understand Venezuela. Rusoro, Owens-Illinois, and Gold Reserve believe the odds of that collateral surviving are "remote." My bet is that the creditors are correct. Hence, price for Citgo should achieve the level needed for GRZ to get paid in full (about $7.4 billion). Market for GRZ shares is currently not so sure.