Hyperinflation in Venezuela

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July 31st, 2018 at 11:00:20 AM permalink
petroglyph
Member since: Aug 3, 2014
Threads: 25
Posts: 6227
Quote: AZDuffman
Sadly, most societies keep drifting to the concept. Then they fall, and capitalist societies are their masters.
Why does the USA need to concern itself with what Venezuela does or doesn't do, re socialism? If they spiral further into the abyss, how does that matter to us, so much that we sanction them, and threaten any country that does business with them.

Isn't that a little like interfering with their elections?

What is the great big threat from them if they have free stuff? Look what the US gives to it's hundred million out of the labor pool, or in entitlements or a trillion dollar defense. What exactly is the threat to us?
The last official act of any government is to loot the treasury. GW
July 31st, 2018 at 11:18:43 AM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18136
Quote: petroglyph
Why does the USA need to concern itself with what Venezuela does or doesn't do, re socialism? If they spiral further into the abyss, how does that matter to us, so much that we sanction them, and threaten any country that does business with them.

Isn't that a little like interfering with their elections?

What is the great big threat from them if they have free stuff? Look what the US gives to it's hundred million out of the labor pool, or in entitlements or a trillion dollar defense. What exactly is the threat to us?


I can see only 2 things we would care about. One is regional instability. The other is their major holdings in the USA, the biggest being Citgo.
The President is a fink.
July 31st, 2018 at 11:20:56 AM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18136
Quote: Evenbob
Socialism looks great on paper,
that's what they're saying. Problem
is, it doesn't take into account that
some people are massive over
achievers and will always succeed
in a spectacular fashion and that
far too many are lazy and will never
succeed. You will always end up
with capitalism as the result.


I love when college professors ask if their students prefer socialism. Then when they do, they "redistribute" points on tests to where everyone gets a C. Some take it far enough that students stop trying and the whole class fails. It teaches a lesson the easy way.

Socialism almost killed the Plymouth Colony when it was first settled. Should be an easy lesson.
The President is a fink.
July 31st, 2018 at 11:44:21 AM permalink
petroglyph
Member since: Aug 3, 2014
Threads: 25
Posts: 6227
Quote: AZDuffman
I can see only 2 things we would care about. One is regional instability. The other is their major holdings in the USA, the biggest being Citgo.
By sanctioning them, it looks to me that we are shoving them in to the arms of China.

Have you ever read John Perkins, "Confessions of an economic Hitman"? Here it is in PDF. We've been deeply involved in all country's in South America always.

http://resistir.info/livros/john_perkins_confessions_of_an_economic_hit_man.pdf
The last official act of any government is to loot the treasury. GW
July 31st, 2018 at 12:00:40 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 146
Posts: 25010
Quote: AZDuffman
Socialism almost killed the Plymouth Colony when it was first settled. Should be an easy lesson.


It doesn't reward hard work, so there
is no incentive to do more than you
need to. You end up with the USSR
in the 50's (Union of Soviet SOCIALIST
Republics). Waiting in long lines for
the one kind of toilet paper they make.
And a huge alcoholism rate, which
still exists today. In the 60's 50% of
factory workers were drunk on the
job. They couldn't be fired, what did
they care. Socialism, a guaranteed
job for life.
If you take a risk, you may lose. If you never take a risk, you will always lose.
August 1st, 2018 at 3:54:55 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: Pacomartin
The Bureau of Engraving and Printing produced $41.50 billion dollars in three denominations last year. For them to produce another $16 billion for Venezuela would require compensation for labor and materials.
$4.58 : $5
$2.62 : $10
$34.30 : $20
$41.50 billion


Back to the Republican proposal. You would need to print the following amount of banknotes to get $500 in cash per capita circulating in Venezuala. It's actually a lot of $5 and $10 banknotes, more than are normally printed by the BEP, as we only use them for change.

$4.8 billion $5 banknotes 30 per capita
$4.8 billion $10 banknotes 15 per capita
$6.4 billion $20 banknotes 10 per capita
$16.0 billion

It won't magically change things in Venezuela but it would give them a stable currency to spend.
August 1st, 2018 at 3:59:54 PM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18136
Quote: Pacomartin


It won't magically change things in Venezuela but it would give them a stable currency to spend.


But they have nothing to spend it on. The government there clipped everyone who could run things.

In other news, South Africa just moved one step closer to stealing farmland of Whites. Look for collapse there over the next 10 years.
The President is a fink.
August 1st, 2018 at 4:00:18 PM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 62
Posts: 7831
Quote: Pacomartin
It won't magically change things in Venezuela but it would give them a stable currency to spend.
Perhaps it would, but then again, which is more desirable for them? A stable currency or a stable government.
August 12th, 2018 at 5:33:46 PM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 62
Posts: 7831
How is this?

We all chip in and charter a large vessel or tanker truck, fill its tanks with gasoline which I think it now going for 900,000 gallons for a dollar. Then we sell that gas elsewhere and get rich? Or did I just mis read the headline and its 900,000 dollars for one gallon? if so 'stabilization' is way too late.
August 12th, 2018 at 5:45:39 PM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18136
Quote: Fleastiff
How is this?

We all chip in and charter a large vessel or tanker truck, fill its tanks with gasoline which I think it now going for 900,000 gallons for a dollar. Then we sell that gas elsewhere and get rich? Or did I just mis read the headline and its 900,000 dollars for one gallon? if so 'stabilization' is way too late.


Citgo was just seized from them. As bad as that is, kick is that some of what they need to refine is produced here, by Citgo. So they will be making even less gasoline.

There is a migration crisis at most of their borders. I am waiting to hear the usual suspects call places like Brazil "racist" for not opening their borders.
The President is a fink.
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