{"id":"1794417992976-money-segment","slug":"trump-s-venezuela-oil-claim-falls-short","title":"Trump's Venezuela oil claim falls short","summary":"Trump did say the U.S. is taking Venezuelan oil revenue and expects \"hundreds of billions,\" but the highest credible estimate of oil revenue since the U.S. takeover in January is about $13 billion, per Financial Times data cited by PolitiFact. \"Hundreds of billions\" is not credible.\n\nNine Kennedy family members sued the Trump administration to block a 250-foot gilded triumphal arch at Arlington National Cemetery, arguing it would obstruct sightlines to the Kennedy gravesites.","publishedAt":"2026-11-11T17:26:32.976Z","channel":{"id":"money","name":"Oncast Money","language":"en"},"show":"Money Lunch","verification":{"status":"verified","leadVerdict":"FALSE","notes":"FALSE: Trump did say the U.S. is taking Venezuelan oil revenue and expects \"hundreds of billions,\" but the highest credible estimate of oil revenue since the U.S. takeover in January is about $13 billion, per Financial Times data cited by PolitiFact. \"Hundreds of billions\" is not credible.\nSource: politifact.com (https://x.com/WatcherGuru/status/2120567166110183829)\n\nTRUE: Nine Kennedy family members sued the Trump administration to block a 250-foot gilded triumphal arch at Arlington National Cemetery, arguing it would obstruct sightlines to the Kennedy gravesites.\nSource: theguardian.com NAMES: zerohedge = financial news and commentary site (https://x.com/zerohedge/status/2120567339796054031)","claims":[{"verdict":"FALSE","summary":"Trump did say the U.S. is taking Venezuelan oil revenue and expects \"hundreds of billions,\" but the highest credible estimate of oil revenue since the U.S. takeover in January is about $13 billion, per Financial Times data cited by PolitiFact. \"Hundreds of billions\" is not credible.","sourceName":"politifact.com","sourceUrl":"https://x.com/WatcherGuru/status/2120567166110183829","claim":"JUST IN: 🇺🇸🇻🇪 President Donald Trump says US is taking billions of dollars worth of oil from Venezuela, expects hundreds of billions soon. https://t.co/QgMIsaGXrK","author":"Watcher.Guru (@WatcherGuru)"},{"verdict":"TRUE","summary":"Nine Kennedy family members sued the Trump administration to block a 250-foot gilded triumphal arch at Arlington National Cemetery, arguing it would obstruct sightlines to the Kennedy gravesites.","sourceName":"theguardian.com NAMES: zerohedge = financial news and commentary site","sourceUrl":"https://x.com/zerohedge/status/2120567339796054031","claim":"Members Of Kennedy Family Sue To Block Construction Of Trump's Triumphal Arch https://t.co/npwbvjWLc7","author":"@zerohedge"}]},"sources":[{"url":"https://x.com/WatcherGuru/status/2120567166110183829","name":"politifact.com","kind":"x","verdict":"FALSE","author":"Watcher.Guru (@WatcherGuru)"},{"url":"https://x.com/zerohedge/status/2120567339796054031","name":"theguardian.com NAMES: zerohedge = financial news and commentary site","kind":"x","verdict":"TRUE","author":"@zerohedge"}],"url":"https://oncast.fm/story/1794417992976-money-segment-trump-s-venezuela-oil-claim-falls-short","listenUrl":"https://oncast.fm/c/money","attribution":{"publisher":"Oncast","site":"https://oncast.fm","url":"https://oncast.fm/story/1794417992976-money-segment-trump-s-venezuela-oil-claim-falls-short","cite":"Cite https://oncast.fm/story/1794417992976-money-segment-trump-s-venezuela-oil-claim-falls-short and the original source links. Fact-check by Oncast (oncast.fm)."},"hostsSaid":[{"host":"Bill","text":"Trump says the U.S. is taking billions in oil from Venezuela, and he expects hundreds of billions soon."},{"host":"Adam","text":"Hundreds of billions. That's a big number."},{"host":"Bill","text":"He posted it two minutes ago. The U.S. has been taking Venezuelan oil revenue since January."},{"host":"Adam","text":"And the highest credible estimate for that revenue is about thirteen billion dollars. PolitiFact ran the numbers."},{"host":"Bill","text":"So hundreds of billions is... optimistic."},{"host":"Adam","text":"It's not credible. The Financial Times data puts it at thirteen billion. That's the whole pot."},{"host":"Bill","text":"But the direction is real. The U.S. is actually collecting that money now."},{"host":"Adam","text":"Sure, thirteen billion is real money. But saying hundreds of billions is like calling a puddle an ocean."},{"host":"Bill","text":"Fair. But you know why he says it. It's a negotiating posture."},{"host":"Adam","text":"It's a number with no basis. And markets hate numbers with no basis."},{"host":"Bill","text":"Speaking of numbers with no basis—there's a jobs report flying around X this morning."},{"host":"Adam","text":"October payrolls reportedly came in well above expectations."},{"host":"Bill","text":"Joel Pollak posted about GDP growth and unemployment figures."},{"host":"Adam","text":"I can't confirm those figures. The official report isn't out yet, or at least I haven't seen it."},{"host":"Bill","text":"But if it's true, that's a big number."},{"host":"Adam","text":"If it's true. Right now it's a claim from a few accounts. No official source."},{"host":"Bill","text":"Pollak also says inflation is higher than it should be, and he blames tariffs and war plus a Biden hangover."},{"host":"Adam","text":"That's his opinion. The growth and unemployment numbers are the part I'd want to verify."},{"host":"Bill","text":"And one reply from Diana Smith says strong growth matters, but keeping inflation under control is essential."},{"host":"Adam","text":"That's the tension. If wages are rising, the Fed's not cutting rates anytime soon."},{"host":"Bill","text":"And Bank of America is reportedly warning the Fed could raise rates in December."},{"host":"Adam","text":"That's from a Telegram channel. I can't confirm BofA actually said that."},{"host":"Bill","text":"But it fits the pattern. Hot CPI, hot jobs, the Fed's hands are tied."},{"host":"Adam","text":"If the jobs number is real, the Fed is not cutting. They might even hike. That's the story."},{"host":"Bill","text":"And that would hit everything—stocks, crypto, housing."},{"host":"Adam","text":"Which brings us to the other side of the world. Russia's central bank says exchanges can start crypto trading November 17th."},{"host":"Bill","text":"That's also unconfirmed, but it's a big shift if true. Russia has been hostile to crypto for years."},{"host":"Adam","text":"They're looking for ways around sanctions. Crypto is one of them."},{"host":"Bill","text":"And Deutsche Bank is supposedly rolling out crypto custody services."},{"host":"Adam","text":"Germany's largest bank. That would be a huge institutional step."},{"host":"Bill","text":"But again, unconfirmed. The Telegram channels are running hot today."},{"host":"Adam","text":"And OKX with the NYSE's parent company, Intercontinental Exchange, launching a 24/7 tokenized securities exchange on November 23rd."},{"host":"Bill","text":"That one's interesting because ICE is a real, regulated exchange operator."},{"host":"Adam","text":"If that's real, it's a bridge between traditional finance and crypto. But I can't confirm it."},{"host":"Bill","text":"So we've got a lot of smoke today. Jobs, rates, crypto, Venezuela."},{"host":"Adam","text":"The Venezuela number is the one I can actually fact-check. And it's wrong."},{"host":"Bill","text":"Hundreds of billions is wrong. Thirteen billion is the real number."},{"host":"Adam","text":"And that's still a lot of oil money. But it's not hundreds of billions."},{"host":"Bill","text":"Meanwhile, the Kennedy family is suing to block Trump's triumphal arch at Arlington."},{"host":"Adam","text":"Nine Kennedy family members. They say a 250-foot gilded arch would block sightlines to the Kennedy gravesites."},{"host":"Bill","text":"A 250-foot gilded arch at Arlington National Cemetery. That's a statement."},{"host":"Adam","text":"The Guardian has the story. It's a real lawsuit."},{"host":"Bill","text":"I get why the Kennedys are upset. Arlington is hallowed ground."},{"host":"Adam","text":"But a triumphal arch? That's a Roman emperor move."},{"host":"Bill","text":"Trump's always wanted big monuments. This one's literally gilded."},{"host":"Adam","text":"The lawsuit says it would obstruct the view to JFK's grave. That's a legitimate concern."},{"host":"Bill","text":"It's also a fight between two American dynasties. The Kennedys versus Trump."},{"host":"Adam","text":"And it's about who gets to define the landscape of national memory."},{"host":"Bill","text":"That's a heavy one for a Wednesday lunch."},{"host":"Adam","text":"But it's the kind of story that shows how money and power shape everything, even cemeteries."},{"host":"Bill","text":"Alright, let's get back to the markets. The jobs report is the big one today."},{"host":"Adam","text":"If the payroll number is real, the Fed is stuck. They can't cut with wages rising."},{"host":"Bill","text":"And if BofA is right about a 50 basis point hike, that's a shock to the system."},{"host":"Adam","text":"I'd say wait for the official numbers before reading anything into the Telegram posts."},{"host":"Bill","text":"But the market's already moving on the rumor. That's the game."},{"host":"Adam","text":"The game is dangerous when the numbers are unverified."},{"host":"Bill","text":"Speaking of dangerous, Russia's crypto move could be a sanctions workaround."},{"host":"Adam","text":"If it's real, it's a big deal. Any country under heavy sanctions would want a way around the dollar system."},{"host":"Bill","text":"Crypto gives them a way to move money without the dollar system."},{"host":"Adam","text":"That's exactly why Washington has watched crypto exchanges so closely."},{"host":"Bill","text":"And now their central bank is opening the door. That's a policy reversal."},{"host":"Adam","text":"If confirmed, it's a story about the global financial order shifting."},{"host":"Bill","text":"And Deutsche Bank getting into custody is the other side of that coin."},{"host":"Adam","text":"Traditional banks are realizing they can't ignore crypto anymore."},{"host":"Bill","text":"But we need confirmation. Right now it's all Telegram chatter."},{"host":"Adam","text":"The only thing I can confirm today is that Trump's Venezuela number is wildly inflated."},{"host":"Bill","text":"And that the Kennedys are suing over a gilded arch."},{"host":"Adam","text":"Two confirmed stories, a pile of rumors, and a market waiting for the jobs report."},{"host":"Bill","text":"That's Money Lunch on a Wednesday."}]}