Gyroscopic Investing

There is a very good chance Venezuela and Petroleos de Venezuela (PDVSA) will default on their bonds. Payments due in October and November 2017.

If this happens, you will hear rhetoric from Caracas along the lines of,

1. Fark you, imperialist running dog yanqui scum
2. Give us our farking money

Kind of like when an addict has no cash but needs a fix.

This has happened before, right? I find this hugely interesting, especially with the recent very successful Iraqi bond sale.

Has anyone here invested in risky state bonds, as part of their variable portfolio? If so, why?

Meanwhile, outside of 'Murica,

PDVSA's year-on-year revenues are down 33.5%.