venezuela Tag

Posted On October 26, 2017By BlackbeardIn Articles

Venezuelans turn to Bitcoin to escape currency crisis

By now, most Americans are familiar with the economic basket case that is Venezuela. The country’s economy has collapsed, leaving the population desperate and starving. The human cost is highly visible and tragic, but what gets less attention is the way in which the government has destroyed the country’s currency, thereby making it impossible for citizens to buy basic necessities. It’s a common story in socialist countries. Unable to sustain massive levels of government spending, the state prints more and more money, trading short-term gains for massive inflation. It’s oneRead More
The global dollar-based monetary system is in serious jeopardy, according to former Texas Congressman Ron Paul. And contrary to Fed Chairwoman Janet Yellen’s assurances that there won’t be another major crisis in our lifetime, the next economy-cratering fiat-currency crash could happen as soon as next month, Paul said during an interview with Josh Sigurdson of World Alternative media. Paul and Sigurdson also discussed false flag attacks, the dawn of a cashless society and the dangers of monetizing national debt. Paul started by saying Yellen’s attitude scares him because “central bankers are alwaysRead More
It’s always funny to debate socialists on the merits of their ideology. If you point to a country like Venezuela, and say “See! This is what socialism leads to,” they’ll no doubt claim that it isn’t a real example of socialism. But if you went back in time by just a few years, you’d find that their perception of Venezuela was quite different. Celebrities like Sean Penn, Oliver Stone, and Danny Glover praised the regime not too long ago, as did intellectuals like Noam Chomsky. Six years ago, Bernie Sanders claimed that “the American dream is more aptRead More
For decades citizenry has been fooled to participate in a paper scam (government fiat). It’s a ticking time bomb before the majority realizes that their currency (that they expend all their energy for) is a horrible store of value. We have seen plenty of examples in the recent past where a countries currency experiences a death spiral which eventually leads to hyperinflation where the velocity of the currency in circulation explodes. Where paper notes turn into a hot potato and the only thing people want to do is get rid of it as quickly asRead More
Venezuela’s central bank devalued its weakest legal exchange rate nearly 64 percent in its latest currency system as the cash-strapped nation attempts to ease a shortage of dollars that’s emptied store shelves and fueled the word’s highest inflation. On Wednesday, central bank director Pedro Maldonado announced the results of the first auction in a revamped currency platform, known as Dicom, where it sold $24 million to businesses and individuals. Each U.S. dollar was sold at a rate of 2,010 bolivars, a sharp decline from the previous rate of about 728 bolivars. Maldonado saidRead More
Goldman Sachs Group Inc. faces a probe by Venezuela’s opposition leaders after buying bonds issued in 2014 by the state oil company, a purchase some lawmakers said bolsters President Nicolas Maduro as he grapples with accusations of human-rights violations. The South American nation’s legislature vowed to launch an investigation into whether the investment by Goldman Sachs’s asset-management arm broke any laws, or whether paying back the debt is in the best interest of Venezuelans. The National Assembly also approved a motion late Tuesday to petition the U.S. Congress to probe theRead More
“I am no Mussolini,” Venezuela’s beleaguered President Nicolas Maduro insisted on television early this month. But if things go on this way, he could end up like Mussolini. That would be very unfortunate for him and also for Venezuela. The daily street protests against Maduro’s rule are in their second month, and around 40 people have already been killed, most of them by the police. “Molotov cocktails” (fire-bombs) are old hat; the new fashion is for “poopootovs” — containers of human or animal excrement that are thrown at the security forces. Nobody knows when itRead More

Posted On May 12, 2017By HoudiniIn Articles

What is Hyperinflation? (with Malay subs)

For more information and the latest news about our economic conditions, visit: www.nubex.org Follow us on: Facebook: https://www.facebook.com/nubexers Instagram: https://www.instagram.com/nubex_my/ Twitter: https://twitter.com/nubextwit Can you imagine using your paper money as a wallpaper to decorate your house or burn them to provide heat during wintertime? Well, that’s what happened in Weimar Germany from 1921 to 1924 when its currency, the Mark, lost its value. This period when the concept of inflation is rendered meaningless is known as the period of “Hyperinflation”. In recent times, hyperinflation occurred in places like Zimbabwe andRead More
The newest wave of migrants is arriving with college degrees and not much else. The newest members of the Venezuelan diaspora can be found every Friday at the Value Store It Self Storage in Doral, Fla. On the fluorescent-bright fourth floor, four units are stacked to the ceiling with donated sheet sets, towels, dishes, toys, clothes, and, on this day, 60 boxes of floral slip-on women’s shoes. The recipients begin arriving at 2 p.m.: a public accountant and his journalist wife, a veterinarian, a registered nurse with her baby and 10-year-oldRead More
Many analysts are venturing to link the crisis that plagues the Venezuelan economy with the fall in the price of crude oil. With oil being one of the most important commodity in Venezuelan production and the country’s main export product, it seems that the fall in the price would bring any country with an economic structure similar to Venezuela’s into a crisis. Similarly, many assume that the problems in Ecuador have the same root as those in Venezuela, although less pronounced. Certainly, one of the markets that has seen the most movement latelyRead More