Remember, dear readers, one and all: Obama and Company really really really like Chavez and Chavismo.
OS shares this with you as a means of, well, mental preparation for what may yet transpire for us.
Showing posts with label currency devaluation. Show all posts
Showing posts with label currency devaluation. Show all posts
Monday, February 11, 2013
Saturday, February 9, 2013
Venezuela Heading Over The Cliff, And The Chavista Voters Cheering Him On
Remember, ya'll... The Obama-ites really really really adore Chavez. Wonder what they'll be doing us?
Second devaluation since 2010...
It was the first devaluation to be announced by Chavez's government since 2010, and it brought down the official value of the bolivar by 46.5pc against the dollar. By boosting the bolivar value of Venezuela's dollar-denominated oil sales, the change is expected to help alleviate a difficult budget outlook for the government, which has turned increasingly to borrowing to meet its spending obligations.
Does this sound familiar?
OS has seen this before, during his Mexican misadventure (don't ask...).
Since the government officials and their bankster and political cronies know what's going down, they make damn sure all their assets are in dollars, pound sterling, Swiss francs--lots of liquid cash in hard currencies, or even gold and silver.
Devaluations always are announced on Friday evenings. On Monday morning, thousands of businesses open their doors as bankrupt enterprises, since their debts are denominated in dollars, and their income in the local currency.
In swoop the gangstas with their liquid cash, and snarfle up the assets of the nation at about .20 on the dollar.
Isn't socialism wonderful?
Second devaluation since 2010...
It was the first devaluation to be announced by Chavez's government since 2010, and it brought down the official value of the bolivar by 46.5pc against the dollar. By boosting the bolivar value of Venezuela's dollar-denominated oil sales, the change is expected to help alleviate a difficult budget outlook for the government, which has turned increasingly to borrowing to meet its spending obligations.
Does this sound familiar?
OS has seen this before, during his Mexican misadventure (don't ask...).
Since the government officials and their bankster and political cronies know what's going down, they make damn sure all their assets are in dollars, pound sterling, Swiss francs--lots of liquid cash in hard currencies, or even gold and silver.
Devaluations always are announced on Friday evenings. On Monday morning, thousands of businesses open their doors as bankrupt enterprises, since their debts are denominated in dollars, and their income in the local currency.
In swoop the gangstas with their liquid cash, and snarfle up the assets of the nation at about .20 on the dollar.
Isn't socialism wonderful?
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