Venezuela cut 5 zeros from currency. Followed by Venezuela exodus?
- Thread starter goldsilverratio
- Start date
next you are going to say manuel ortega took his time before he showed his true colors.
as a foreigner purchase would not be easy. furthermore, like most socialist dictatorship countries Venezuela is a kleptocracy.
Venezuela announces EASING of CURRENCY CONTROLS ? September 8, 2018 / 9:37 PM
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CARACAS (Reuters) - Venezuela on Saturday eased 15-year-old currency controls, decreeing that private banks and exchange houses are ALLOWED to now SELL dollars?
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The currency controls, which require businesses and individuals to buy dollars via the state, are frequently identified as one of the MAIN DRIVERS of the crisis that includes hyper-inflation and product shortages.
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The government currently sells dollars for around 62 bolivars, while the black market rate is around 90.
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That disparity has in the past made foreign exchange systems unworkable because it creates incentives to buy dollars at the preferential rate and quickly resell them at a profit on the black market, meaning the preferential dollars quickly dry up.
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https://uk.reuters.com/article/us-v...y-controls-economists-skeptical-idUKKCN1LO0RX
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CARACAS (Reuters) - Venezuela on Saturday eased 15-year-old currency controls, decreeing that private banks and exchange houses are ALLOWED to now SELL dollars?
-----------------------------
The currency controls, which require businesses and individuals to buy dollars via the state, are frequently identified as one of the MAIN DRIVERS of the crisis that includes hyper-inflation and product shortages.
---------------------------
The government currently sells dollars for around 62 bolivars, while the black market rate is around 90.
--------------------------
That disparity has in the past made foreign exchange systems unworkable because it creates incentives to buy dollars at the preferential rate and quickly resell them at a profit on the black market, meaning the preferential dollars quickly dry up.
--------------------------
https://uk.reuters.com/article/us-v...y-controls-economists-skeptical-idUKKCN1LO0RX
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https://lex18.com/ap-world-news/2018/09/10/us-accuses-venezuelas-leader-of-operating-a-kleptocracy/
I publicly beat Marshall Billingslea, the U.S. Treasury’s assistant secretary for terrorist financing, by a day and a half. humorous.
the Venezuelan army is relatively well paid to support the dictatorship. elections are fixed. how do you expect democracy to be restored in VE.
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" start the slow pull back to sanity and profitability imho."
there is no such possible route. slow will not cut it. the only way is to kick out the Left through a violent revolution and institute free markets to restore the economy. end this nonsense about equality, the people voted for equality and ended equally poor and starving.
The government of Venezuela is a disease. They destroyed the economy of the fourth wealthiest nation on earth by looting the oil industry [they replaced 80,000 plus workers with party loyalists] then when food became scarce they made sure that it is distributed to party loyalists. They aren't stupid, they are sick communists. They are enjoying starving their enemies... Bernie Sanders and a raft of other ones would do the same thing to the U.S. were they ever in power.
The country will soon disappear from the Earth. Just wait.
Dollar makes the game you want it or not.