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ORIGINAL: Sanity


At least they can use their bolivars for toilet paper

(Which they have trouble keeping on the shelves)

(Along with many other basic goods)

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Currency tumbles as Venezuelans look to unload bolivars

CARACAS, Venezuela (AP) — Venezuelans are dumping their rapidly depreciating currency at an ever quicker pace as the crisis-plagued economy edges dangerously close to an outbreak of hyperinflation.

DolarToday, a widely followed website that tracks exchanges made near the Colombian border, reported Friday that the bolivar had lost a quarter of its value over the last seven days.

Everyone in smartphone-obsessed Caracas seemed to learn of the crash at the same time as the DolarToday app, a ubiquitous tool in the South American country, sent out a series of messages announcing the new rates under the headline "hyperinflation!"

...

DolarToday is openly hostile to the socialist government and frequently picks up articles attacking the administration. But the site insists its exchange-rate reports are based on actual trades at the border and are not manipulated to undercut the government.

In April, Maduro repeated his assertion that the site's shadowy managers, whose identities are not public, are collaborating with the speculators and opposition leaders he blames for the country's problems. He accused them of purposely sowing chaos and promised to have them arrested.

"We're going to put those people at DolarToday who are waging an economic war against Venezuela behind bars sooner rather than later" he said.

The site, which is sometimes blocked within Venezuela, responded with a cheeky video documenting its popularity set to the club hit "Turn Down for What."

If they were smart, they would embrace capitalism again [;)]

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ORIGINAL: HunterCA

Well, at least their currency lasted longer than their freedom of speech or press. It's so funny to see the usual leftist crowd here defending the situation. Ya really, it's the app's fault.

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Wait...wait, no it's westen imperialists fault. They're hiding under Maduros bed and giving him the evil eye. Run...run, they've got an app.

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ORIGINAL: mnottertail

As you do from your ass with your tongue? Please. You are witless, as are all the rightwing shiteaters. The communist free market and its minions, the rightwing who are not conservative, republican, nor fiscally responsible are driving us deeper in debt, while they ship our jobs overseas to their masters.

We can tell this by the fact that the house, overwhelmingly for some time now, (and you can see this by debt) is run by these rightwing morons who have done nothing but borrow and spend, and hang out for photo ops with criminals and sociopaths are running the countries checkbook.

They do not have possession of fact, and say stupid shit like well...............here you are. In any case, if your idea of marxism is a dictatorship and small government, then you are sort of a marxist yourself, arent you?

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ORIGINAL: Sanity
Must... Destroy... DolarToday
[img]http://robot-kingdom.com/wp-content/uploads/2013/05/dalek-arduino-640x856-400x%20400-1.jpg[/img]
Awfully desperate, Marxists

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ORIGINAL: DesideriScuri

quote:

ORIGINAL: Sanity
Must... Destroy... DolarToday
[img]http://robot-kingdom.com/wp-content/uploads/2013/05/dalek-arduino-640x856-400x%20400-1.jpg[/img]
Awfully desperate, Marxists

I find this part of the post offensive.

Dalek's scream "Exterminate!" If you're going to bring Dr. Who into the conversation, please do so correctly. [8D]

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ORIGINAL: PeonForHer

Sanity old chap,

Word to the wise. You talking about Marxism is like me talking about the technical aspects of guns. Only do it if it's done to give our readers a bit of a chortle. ;-)

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ORIGINAL: PeonForHer

Sanity old chap,

Word to the wise. You talking about Marxism is like me talking about the technical aspects of guns. Only do it if it's done to give our readers a bit of a chortle. ;-)

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Hugo Rafael Chávez Frías (Spanish pronunciation: [ˈuɣo rafaˈel ˈtʃaβes ˈfɾi.as]; 28 July 1954 – 5 March 2013) was a Venezuelan politician and the President of Venezuela from 1999 until his death in 2013. He was the leader of the Fifth Republic Movement from its foundation in 1997 until 2007, when it merged with several other parties to form the United Socialist Party of Venezuela(PSUV), which he led until 2012.

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Venezuela’s leaders have clearly identified themselves as socialists. Late leftist president Hugo Chavez proclaimed, “We're heading toward socialism, and nothing and no one can prevent it.” Chavez’s successor Nicolás Maduro was elected in in April 2013 also committed himself to pursue “21st century socialism,” according to CNN.

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And you consider yourself a towering intellect I suppose

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ORIGINAL: HunterCA

This is for epiphany.

http://www.nationalreview.com/article/419153/global-pottersville-victor-davis-hanson

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'Paradise for $20': hardy tourists enjoy Venezuela cash bonanza

LOS ROQUES, Venezuela (Reuters) - Fears of being kidnapped or not finding toilet paper are not much of an incentive for a holiday in Venezuela.

Yet hardy travelers undeterred by the tales - real and exaggerated - of crime and shortages are finding the South American nation an absurdly cheap destination.

That is thanks to exchange controls skewing the economy in favor of anyone with foreign currency, meaning you can hire a boat to a Caribbean island for $15 a day, or trek through Andean mountains or Amazon jungle for a week, with porters, at $125.

A decent hostel at a popular beach may cost $5 a night, while two people can have a three-course meal with wine for $10.

"It's crazy! This beer is costing me just a few pennies," said British tourist Matthew Napier, 35, clad in sunglasses and clutching a local Polar beer on a stunning white-sand beach with his girlfriend at Los Roques archipelago in the Caribbean.

...

"People should come. It's so cheap, it's ridiculous. Even with our devalued currency in Argentina, it still works out such good value," he added, saying meals out in Caracas were a quarter of the cost in Buenos Aires.

The giveaway prices in Venezuela for foreigners are a recent phenomenon: the black market price of a U.S. dollar has shot up nearly six-fold from 70 bolivars to over 400 in the last year.

The government is unable to meet demand at official exchange rates, which range from 6.3 to 200 bolivars per dollar, so the black market satisfies those prepared to pay a hefty premium.

In contrast with tourists, Venezuelans' purchasing power has fallen as wage rises cannot match inflation of 68 percent in 2014 and widely forecast to hit triple digits this year.

Shopping for basic food and goods has become a daily struggle for many locals - let alone the sort of exotic holidays foreigners are enjoying in their country.

...

https://ca.news.yahoo.com/paradise-20-hardy-tourists-enjoy-venezuela-cash-bonanza-120948858--business.html

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ORIGINAL: mnottertail

Uh, that is not marxism that is free market communism, and believe me, capitalist countries dump currencies all the time.

But why are you commenting on economics or fiscal responsibility, clearly you are unknowledgeable in these areas.