SOCIALIST VENEZUELA - money worth less than toilet paper

Discussion in 'Political Opinions & Beliefs' started by Rob Larrikin, Aug 23, 2018.

  1. Rob Larrikin

    Rob Larrikin Active Member

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    IN VENEZUELA, money is worth less than toilet paper.

    [​IMG]

    A 2.4kg chicken is pictured next to 14,600,000 bolivars, the equivalent of $US2.22 ($A3.04), at a street market in Caracas on August 16. Another photo shows a single roll of toilet paper next to 2,600,000 bolivars, equivalent to 40 US cents (A55c).

    On Monday, Venezuela slashed five zeros from its currency with the release of the new “sovereign bolivar”, equivalent to 100,000 old bolivars.

    The government also announced a 3000 per cent increase to the minimum wage, tax increases, and a plan to peg the currency to the petro, a state-backed cryptocurrency widely considered to be a scam.

    On Tuesday, Venezuela’s central bank devalued the bolivar by 96 per cent, setting a new exchange rate of 68.65 sovereign bolivars to the euro, from the previous rate of 2.48 sovereign bolivars to the euro.

    Economist and hyperinflation expert Professor Steve Hanke from Johns Hopkins University said removing zeros from the currency would have no effect.

    “They’ve exchanged 100,000 old bolivars for one new ‘sovereign’ bolivar, (but) the value is roughly the same, one cent in US dollar terms,” he told the BBC.

    “Yesterday the inflation rate was 61,500 per cent on an annual basis, today it has surged up to 65,500 per cent, so clearly nothing has changed.”

    Prof Hanke said the currency was “in a death spiral and things will get worse”.

    MORE…​


    Of course Socialists will say, “Oh no, this isn’t really socialism. No, with socialism you get lots of food and happiness every day.”

    This is what a large percentage of Millennials want for America. Socialism - a giant pyramid scheme designed to make the few at the top rich, while millions suffer starvation.
     
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  2. Spooky

    Spooky Well-Known Member Past Donor

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    How sad.

    Socialism at its finest.

    Why did NY nominate Cortez again?
     
    Last edited: Aug 23, 2018
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  3. Bassman

    Bassman Well-Known Member

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    Because they are either Communists, idiots, or both.
     
  4. Rob Larrikin

    Rob Larrikin Active Member

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    Crazy. Amazingly the government think that all you have to do is keep printing money with bigger numbers on it. If you were a merchant would you accept the pile of bolivars for the chicken? While they say that's what a chicken costs, I think it's only the theory. Who would trust it?
     
  5. Rob Larrikin

    Rob Larrikin Active Member

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    Yes - it's like inviting everyone onto a bus with no wheels, no engine and no driver. :D
     
  6. Spooky

    Spooky Well-Known Member Past Donor

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    Didn't Germany do this also at some point?
     
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  7. Bassman

    Bassman Well-Known Member

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    No kidding. :D
     
  8. Rob Larrikin

    Rob Larrikin Active Member

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    True - they printed money to pay for their part in WWI, and continued that habit after the war, which devalued the currency. Economists at the time didn’t think it would be a problem. Germany had to pay war reparations but couldn’t afford them so they printed up even more money. When the Reichsmark eventually plummeted it was worth one-trillionth of its original value. As these photos show, people used currency to burn as fuel in fireplaces, to wallpaper rooms, make kites, dresses and toys, etc.

    http://bit.ly/2BGuTWr
     
    Last edited: Aug 23, 2018
  9. Questerr

    Questerr Banned

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    And as we all know, this has never happened in a capitalist country. ***cough*** Pinochet's Chile ***cough***

    (I wonder what Pinochet's Chile, Maduro's Venezuela, and Mugabe's Zimbabwe all have in common? Could it be...DICTATORSHIP?)
     
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  10. Soupnazi

    Soupnazi Well-Known Member

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    What do all socialists nations have in common?

    Dictatorship

    What is socialism?

    DIctatorship
     
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  11. Questerr

    Questerr Banned

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    Except countries that are "socialist" by Rightwing standards (IE they have all the social welfare programs and economic rules and regulations Democrats advocate that the Right calls "socialist"), are almost entirely NOT dictatorships.
     
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  12. Soupnazi

    Soupnazi Well-Known Member

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    Yes but much like you were wrong ( and proven so ) about those nations you do not accurately describe right wingers.
     
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  13. Questerr

    Questerr Banned

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    I don't? How many quotes would you like from Rightwingers on both this forum and in the world at large who call things like universal healthcare, free college, higher business regulations, etc to be "socialism" and those that advocate them "socialists"? Are those Rightwingers lying when they do that?
     
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  14. Soupnazi

    Soupnazi Well-Known Member

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    No, you are lying when you claim to be so insightful about them
     
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  15. Belch

    Belch Well-Known Member

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    Yeah, but it happens in degrees. You can already see that happening with how much power the president has, compared to the very small amount of power he's supposed to actually have per the constitution.

    It's not like the left thinks all that highly of the constitution, which was designed specifically to keep the country from descending into a totalitarian nightmare. When they get back into power, the erosion will continue...
     
  16. Questerr

    Questerr Banned

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    Really? I'm lying?

    Care to make a wager on that? If I can provide ten links to quotes to prominent Rightwing posters on this site and ten more links to quotes from Republican Conservative leaders calling Democrats who advocate the same programs found in Canada, Denmark, and Sweden "socialists" and those programs "socialism", then I get ownership over your signature for the next 6 months. Do you have the courage to take that bet? Care to put your sig block where your mouth is that I'm lying?
     
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  17. Soupnazi

    Soupnazi Well-Known Member

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    Twenty quotes prove nothing. Much less a generalization of millions of people.

    I can provide twenty quotes from people saying the earth is flat.
     
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  18. Questerr

    Questerr Banned

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    Twenty quotes from major party leaders proves nothing?

    Then why should I concede that your one quote from a guy in Denmark means anything?
     
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  19. Ddyad

    Ddyad Well-Known Member

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    Do you have source for that happening in Pinochet's Chile?
     
  20. Ddyad

    Ddyad Well-Known Member

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    Socialism is the great equalizer.

    “At a squat, concrete brothel on the muddy banks of the Arauca River, Gabriel Sánchez rattled off the previous jobs of the women who now sell their bodies at his establishment for $25 an hour.

    “We’ve got lots of teachers, some doctors, many professional women and one petroleum engineer,” he yelled over the din of vallenato music. “All of them showed up with their degrees in hand.”

    And all of them came from Venezuela.”
    MIAMI HERALD,In Venezuela, they were teachers and doctors. To buy food, they became prostitutes., BY JIM WYSS, SEPTEMBER 22, 2017.
    http://www.miamiherald.com/news/nation-world/world/americas/venezuela/article174808061.html
     
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  21. Soupnazi

    Soupnazi Well-Known Member

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    He is smarter than you and an expert in one of the nations you think is socialist
     
  22. Questerr

    Questerr Banned

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    I’m sure some of the Republican Party leaders are smarter than me too. But their quotes are invalid?
     
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  23. Soupnazi

    Soupnazi Well-Known Member

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    Yes many of them are.
     
  24. Questerr

    Questerr Banned

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    Is this another one of those cases where your standard is going to flip flop based on what position helps your case like a total ****ing hypocrite?
     
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  25. BarleyPopGuy

    BarleyPopGuy Banned

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    Socialism works! It's just the right people haven't done it yet..The US demoncrats promise they can..
     

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