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 Replies: 110 / Views: 18,181 |
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Pillar of the Community
 United States
4883 Posts |
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Pillar of the Community
Australia
560 Posts |
It is now about 5000 to a US dollar.
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Pillar of the Community
United States
4883 Posts |
Additional recent articles chronicling this ridiculous situation.... See: https://panampost.com/sabrina-marti...ncompetence/The above piece contends that Venezuela has actually had trouble paying for the printing of the new higher denomination notes, an allegation which I've seen repeated elsewhere - if that doesn't suggest that a "death spiral" has commenced, I don't know what would. Also see: https://panampost.com/orlando-avend...u-a-big-mac/It's just tragic how thw government of Venezuela has failed its people. Colligo ergo sum
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Valued Member
Canada
206 Posts |
Venezuela has now stopped publishing money supply data, depriving the general public of the last available tool to ascertain soaring inflation in what has become the world's worst-performing economy.
The money supply indicator suddenly stopped appearing on the central bank's website on Feb. 24.
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Bedrock of the Community
 United States
12815 Posts |
While shopping for Yugoslavian hyperinflation currency tonight, I picked up a brand new CU set of Venezuelan currency, 2-100 Bolivares... for $3 US w/ shipping.
Yikes. They are attractive notes and I'm happy to have them in my collection, but it's a sad state of affairs.
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Bedrock of the Community
United States
12815 Posts |
They came in, and here they are. Regardless of what's going on in the country, these are really nice notes.   |
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Pillar of the Community
United States
4883 Posts |
A very recent article summing up the increasingly bleak situation and forecasting the inflation rates for this year and 2018 (which are astounding). It's hard to imagine that this can go on very much longer, something's got to give soon. See: http://www.ibanet.org/Article/NewDe...1907B97F3C23There are links there to additional articles as well. Colligo ergo sum
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Pillar of the Community
Canada
5324 Posts |
You know with this country having the largest oil reserves in the world and to mismanage things to get this country's economics to the hyper inflations is just amazing to prove the governments lost ways, and probably vast ideas.
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Valued Member
Canada
206 Posts |
The Venezuelan bolivar is showing record lows against the dollar on the "black market" amid continuing protests against the government of President Nicolas Maduro, sparked by the recent institutional crisis. On Friday, the "black market" currency rate was 4,412 bolivars per dollar, according to Dolar Today, a website that monitors currency rates. At the start of April, one day after the announcement of the Venezuelan Supreme Court decision to assume the legislative functions of the country's National Assembly, the rate was 3,451 bolivars per dollar. The court ruling has been reversed, however, tensions remain in the country, which is suffering from a severe economic crisis. Multiple anti-government protests have been held in Venezuela this month. On Thursday, Secretary General of the Organization of American States (OAS, or OEA) Luis Almagro Lemes accused the Venezuelan government of violent "repression" of the protests that have taken the lives of at least seven people, according to the latest media reports.  |
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Pillar of the Community
United States
4883 Posts |
Colligo ergo sum
Edited by Lucky Cuss
04/18/2017 1:26 pm
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Pillar of the Community
United States
992 Posts |
The repressive government of the people seems to have the money to stockpile arms and ammunition. They are vowing to arm their socialist public in order to maintain power. So much for the will of the people.
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Pillar of the Community
United States
4883 Posts |
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Valued Member
Canada
458 Posts |
yes this shows socialist policy don't work
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Pillar of the Community
Germany
1063 Posts |
No, it doesn't show socialism policy doesn't work at all. Plenty of countries with capitalism have failed too. Does one example of something failing show that all don't work? No, it doesn't.
I'm no socialist, some things socialism does work, the UK NHS for example, but in many aspects I hate socialism and I'm opposed to Jeremy Corbyn with a passion because of his socialism. But then doesn't mean that all socialism will fail just because Venezuela has made such a mess of things. Had oil prices not dropped massively, people might be showing Venezuela as a shining example of it working.
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Rest in Peace
United States
2668 Posts |
GM lost a massive lawsuit to one of it's Venezuela dealers 10 years ago(or so) and it is finally being enforced.
GM is walking away from the two-faced dealings, they can't get supplies anyway, and the government took over their plant.
More jobs coming home. Wonder if you can write off the loss of a pirated operation?
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Replies: 110 / Views: 18,181 |
First Page
Posted 01/11/2017 7:27 pm
