Venezuela Meltdown

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Skeeve
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Re: Venezuela Meltdown

Post by Skeeve » Thu Aug 23, 2018 11:50 pm

Venezuela hit by 7.3-magnitude earthquake
Venezuela’s northern coast has been rocked by a powerful earthquake that was felt across the Caribbean and sent people rushing out into the streets hundreds of kilometres away in the capital, Caracas.

The United States Geological Survey said a 7.3-magnitude earthquake had struck off the South American country’s northern coast at 5.31pm local time on Tuesday, east of the city of Carúpano at a depth of 123km (76 miles). The Colombian Geological Service said it was a 7.0-magnitude quake.

The earthquake was felt more than 600km further east in Caracas, where the crisis-stricken nation’s political leaders were celebrating a “revolutionary” new economic plan they claim will rescue Venezuela’s crumbling economy but economists fear will make it worse.
Then Skank Of America could start in...

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Re: Venezuela Meltdown

Post by shuize » Fri Aug 24, 2018 12:10 am

Skeeve wrote:
Thu Aug 23, 2018 11:50 pm
Venezuela hit by 7.3-magnitude earthquake
Venezuela’s northern coast has been rocked by a powerful earthquake that was felt across the Caribbean and sent people rushing out into the streets hundreds of kilometres away in the capital, Caracas.

The United States Geological Survey said a 7.3-magnitude earthquake had struck off the South American country’s northern coast at 5.31pm local time on Tuesday, east of the city of Carúpano at a depth of 123km (76 miles). The Colombian Geological Service said it was a 7.0-magnitude quake.

The earthquake was felt more than 600km further east in Caracas, where the crisis-stricken nation’s political leaders were celebrating a “revolutionary” new economic plan they claim will rescue Venezuela’s crumbling economy but economists fear will make it worse.

Even without knowing details, I'm willing to bet the "revolutionary" new economic plan is going to do more damage than the earthquake.

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Re: Venezuela Meltdown

Post by WildCat » Fri Aug 24, 2018 12:21 am

shuize wrote:
Fri Aug 24, 2018 12:10 am
Even without knowing details, I'm willing to bet the "revolutionary" new economic plan is going to do more damage than the earthquake.
They're going to make the Bolivar printing presses go up to 11. This has never been done before!
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Re: Venezuela Meltdown

Post by Witness » Fri Aug 24, 2018 1:34 am

Venezuela’s new currency brings country to STANDSTILL as residents try to FLEE

Thousands of businesses closed in preparation for the new currency - the sovereign bolivar - leading to many people not going to work and bringing the country to a temporary halt.

However, Mr Maduro praised the new currency on Twitter:
We found the revolutionary formula that puts work in the centre of the general re-adjustment of society, based on the production of goods and the value of salary. With that, we're gonna put to rest forever the perverse model that dollarised the prices in the country.
https://www.express.co.uk/news/world/10 ... gn-bolivar
Latin American states urged to ease entry for fleeing Venezuelans

UN call comes after Ecuador and Peru announce tighter entry requirements for Venezuelans escaping the economic crisis.
https://www.aljazeera.com/news/2018/08/ ... 15938.html

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Re: Venezuela Meltdown

Post by shuize » Tue Aug 28, 2018 9:37 pm

Venezuela water shortages. I like the subtitle:
This has to be the most egalitarian disaster the socialist government has managed to engineer yet
https://www.bloomberg.com/news/articles ... in-caracas

Directly below that article there is a story about government plans to sell gold ingots to pensioners as a strategy against inflation. Unfortunately, it's a bit thin on details, but I liked this quote from Maduro:
We have found the formula to advance toward socialism, equality and the development of national productive forces ...

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ed
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Re: Venezuela Meltdown

Post by ed » Tue Aug 28, 2018 10:31 pm

We found the revolutionary formula that puts work in the centre of the general re-adjustment of society, based on the production of goods and the value of salary. With that, we're gonna put to rest forever the perverse model that dollarised the prices in the country.
Can someone tell me what this word salad means?
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Re: Venezuela Meltdown

Post by Grammatron » Tue Aug 28, 2018 10:35 pm

We found some more money we can confiscate

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Re: Venezuela Meltdown

Post by xouper » Tue Aug 28, 2018 10:36 pm

ed wrote:
Tue Aug 28, 2018 10:31 pm
We found the revolutionary formula that puts work in the centre of the general re-adjustment of society, based on the production of goods and the value of salary. With that, we're gonna put to rest forever the perverse model that dollarised the prices in the country.
Can someone tell me what this word salad means?
Nope. Not possible.

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Re: Venezuela Meltdown

Post by WildCat » Tue Aug 28, 2018 10:58 pm

You have to find a Socialist to English dictionary.
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Re: Venezuela Meltdown

Post by gnome » Tue Aug 28, 2018 11:45 pm

"dollarised the prices"... were the prices supposed to be in yaks or something?
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Re: Venezuela Meltdown

Post by gnome » Tue Aug 28, 2018 11:46 pm

...wait...wait... it's a mission statement.

I think we have a rule about that around here, don't we?
"If fighting is sure to result in victory, then you must fight! Sun Tzu said that, and I'd say he knows a little bit more about fighting than you do, pal, because he invented it, and then he perfected it so that no living man could best him in the ring of honor. Then, he used his fight money to buy two of every animal on earth, and then he herded them onto a boat, and then he beat the crap out of every single one. And from that day forward any time a bunch of animals are together in one place it's called a zoo! (Beat) Unless it's a farm!"
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Re: Venezuela Meltdown

Post by Giz » Wed Aug 29, 2018 12:14 am

Think most Venezuelans would think a night in a box was luxury.

Venezuelan expats:


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Re: Venezuela Meltdown

Post by ed » Wed Aug 29, 2018 12:31 am

gnome wrote:
Tue Aug 28, 2018 11:46 pm
...wait...wait... it's a mission statement.

I think we have a rule about that around here, don't we?
hmmmm
To discover the revolutionary formula that puts work in the centre of the general re-adjustment of society. Such centralization to be based on the production of goods and the value of salary. With that, we're gonna go back to the aluminum standard for prices in the country.
seems that what he is saying is that work, production and remuneration are related. Is that a deep thought?
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Re: Venezuela Meltdown

Post by Witness » Wed Aug 29, 2018 2:32 am

Brazil sends army to quell attacks on Venezuela migrants

Brazil will send troops to its border with Venezuela today after residents of the Brazilian border town of Pacaraima drove out Venezuelan immigrants from their improvised camps, amid growing regional tensions.

Tens of thousands of Venezuelans have crossed the border into Brazil over the past three years as they seek to escape the economic, political and social crisis gripping their country.

The latest show of tensions began early on Saturday, hours after a local merchant was robbed and severely beaten in an incident blamed on Venezuelan suspects, in Pacaraima, where an estimated 1,000 immigrants are living on the streets.

Dozens of locals then attacked the two main immigrant makeshift camps and burned their belongings, leading Venezuelans to cross the border back into their home country.
https://www.independent.ie/world-news/l ... 31453.html

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Re: Venezuela Meltdown

Post by WildCat » Wed Aug 29, 2018 3:06 am

Witness wrote:
Wed Aug 29, 2018 2:32 am
Brazil sends army to quell attacks on Venezuela migrants

Brazil will send troops to its border with Venezuela today after residents of the Brazilian border town of Pacaraima drove out Venezuelan immigrants from their improvised camps, amid growing regional tensions.

Tens of thousands of Venezuelans have crossed the border into Brazil over the past three years as they seek to escape the economic, political and social crisis gripping their country.

The latest show of tensions began early on Saturday, hours after a local merchant was robbed and severely beaten in an incident blamed on Venezuelan suspects, in Pacaraima, where an estimated 1,000 immigrants are living on the streets.

Dozens of locals then attacked the two main immigrant makeshift camps and burned their belongings, leading Venezuelans to cross the border back into their home country.
https://www.independent.ie/world-news/l ... 31453.html
See? Trump's anti-immigration rhetoric leads to violence.
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Re: Venezuela Meltdown

Post by Anaxagoras » Wed Aug 29, 2018 3:52 am

shuize wrote:
Tue Aug 28, 2018 9:37 pm
Venezuela water shortages. I like the subtitle:
This has to be the most egalitarian disaster the socialist government has managed to engineer yet
https://www.bloomberg.com/news/articles ... in-caracas

Directly below that article there is a story about government plans to sell gold ingots to pensioners as a strategy against inflation. Unfortunately, it's a bit thin on details, but I liked this quote from Maduro:
We have found the formula to advance toward socialism, equality and the development of national productive forces ...
Lemme guess: The pensioners don't actually get the physical gold itself. Instead they get some kind of certificate saying that they own a certain amount of gold, which of course the government will keep for safekeeping.
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Re: Venezuela Meltdown

Post by Doctor X » Wed Aug 29, 2018 4:47 am

No, the gold is there.

In the town of El Dorado.

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Re: Venezuela Meltdown

Post by shuize » Wed Aug 29, 2018 9:19 am

Anaxagoras wrote:
Wed Aug 29, 2018 3:52 am
Lemme guess: The pensioners don't actually get the physical gold itself. Instead they get some kind of certificate saying that they own a certain amount of gold, which of course the government will keep for safekeeping.

Of course the gold is there. And the "scheme" will aid the happiness of the country. Why are you against happiness?
“I am prepared. I have several thousand pieces of gold for the people to save in gold,” said Mr Maduro, holding up examples, approximately the size of a fingernail, during a live address to the nation. The scheme, he said, would aid “the happiness of the country”. He later clarified that purchasers would not receive physical gold, but certificates of ownership.
https://www.thetimes.co.uk/article/nico ... -c068cvzlc

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Re: Venezuela Meltdown

Post by Doctor X » Wed Aug 29, 2018 9:40 am

Fortunately, these certificates will not be subject to the pressures of inflation. . . .

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Re: Venezuela Meltdown

Post by Anaxagoras » Wed Aug 29, 2018 9:46 am

Doctor X wrote:
Wed Aug 29, 2018 9:40 am
Fortunately, these certificates will not be subject to the pressures of inflation. . . .

--J.D.
In theory, if they were gold-backed, they wouldn't be. They would track whatever the current price of gold is.

The real question is, "will you actually ever be able to receive your physical gold?" If not, the value is highly questionable.
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