Venezuela devalues currency

Devaluation ups stakes in Venezuela election year -> reuters.com/article/idUSN096521320100109

I still have about 40,000 bolivars somewhere… :nin

Old or new? Ithink the exchange rate for the old ones is 4000 to the dollar or something.

Ah, they are 2006 vintage but 20,000 notes! Which you couldn’t exchange in the airport but you needed to keep some moula for a possible bribe, double jeopardy! :stuck_out_tongue:

Welcome to the socialist paradise :laughing:

Did you hear me defending Chavez or Venezuela? Go back under your rock… :unamused:

get back on topic

Sweet socialism, it create opportunities unknown in capitalist world.

  1. Buy 10k$ worth of food for 26k bolivares
  2. Barter food for 10k$ worth of car in other country
  3. Sell car for 36k bolivares (well below 43k bolivares worth)
  4. Spend 10k bolivares
  5. Go to 1

Of course there would be some cost of moving food, bribes etc

How socialists could solve this problem? Deploy more clerks to make sure no imported food is exported.

Sweet Bolivarianism you mean of course… :angry:

Hugo Chavez Close to Crushing Venezuela’s Economy -> english.pravda.ru/world/americas … o_chavez-0

15000 Irishmen fought under Simon Bolivar. Bit of useless information for y,all.
I don´t think we´re in any state to criticise ANY country at this stage.
Thats not directed at you TUG, seeing as you´re in awful mood altogether now.

Alot of what he says on his radio programmes / tv shows tends not to go ahead, he’s a bit like the Iranian chap in that respect and Barack Obama.

@truth.ie

Thanks for quoting a post that is a calendar month old!

And you’re still in an awful mood, imagine :smiley:

I was wondering how long it would take this to happen…

thanks…

damn those weather based renewables…and those imperialist yanks causing for climate change

According to this poll, Chávez is in trouble, the opposition are in worse trouble and the Independents are going to run away with it.

angus-reid.com/polls/view/35 … candidates

Looks like supporting a coup in 2002 hasn’t been forgotten. The fact that Chávez is a clown isn’t enough to make them want a Quisling instead.

Chavez is still hugely popular with the poor and disadvantaged, who unfortunately are still the majority there. Their lives have improved, since their oil money can now be seen being used in the Nation, rather than the profits being syphoned by foreign States.
Tough titties buts thats democracy lads.

https://blog.erlingsson.com/wp-content/uploads/2009/09/patria_socialismo_o_muerte.jpg

That’s not actually the case, you have to look beyond the monetary aggregates to realise more money is just inflation, that does not rise the standard of living of poor people and disproportionately weakens their standard of living. How does wrecking the economy help the poor?

The Unfulfilled Promises of Hugo Chávez -> foreignaffairs.com/articles/ … revolution