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 Post subject: Re: More news from a the people's paradise.....
PostPosted: Tue Feb 14, 2017 9:08 pm 
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Venezuelan Flamingo Flambe with brandied cherry suace :lol:

http://www.clearether.com/Deb/Flamingo_Flambe.html

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 Post subject: Re: More news from the people's paradise.....
PostPosted: Wed Mar 01, 2017 8:18 pm 
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http://money.cnn.com/2017/03/01/news/ec ... index.html

Quote:
Venezuela is down to its last $10 billion

by Patrick Gillespie @CNNMoney
March 1, 2017: 12:09 PM ET

Caracas is running out of cash.

Venezuela only has $10.5 billion in foreign reserves left, according to its most recent central bank data.
For rest of the year, Venezuela owes roughly $7.2 billion in outstanding debt payments.

In 2011, Venezuela had roughly $30 billion in reserves. In 2015, it had $20 billion. The trend can't persist much longer, but it's hard to know exactly when Venezuela will run completely out of cash.

"The question is: Where is the floor?" says Siobhan Morden, head of Latin America fixed income strategy at Nomura Holdings. "If oil prices stagnate and foreign reserves reach zero, then the clock is going to start on a default."
venezuela reserves

According to the country's recently released 2016 financial report, about $7.7 billion of its remaining $10.5 billion of reserves is in gold. To make debt payments in the past year, Venezuela shipped gold to Switzerland.
The thinning reserves paint a scary financial picture as the country faces a humanitarian crisis sparked by an economic meltdown. Venezuelans are suffering massive food and medical shortages, as well as skyrocketing grocery prices.

Related: Venezuela may have issued passports to people with ties to terrorism

Massive government overspending, a crashing currency, mismanagement of the country's infrastructure and corruption are all factors that have sparked extremely high inflation in Venezuela. Inflation is expected to rise 1,660% this year and 2,880% in 2018, according to the IMF.

Another key problem is the relatively low price of oil, which stands at half of what it was in 2014. Venezuela has more oil reserves than any other nation in the world, and oil shipments make up over 90% of the country's total exports.

That's making it nearly impossible for the country to pay its debts and import food, medicine and other essentials for its citizens.

Venezuela's imports are down 50% from a year ago, according to Ecoanalitica, a research firm in Venezuela.
CNNMoney (New York)

First published March 1, 2017: 12:09 PM ET

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 Post subject: Re: More news from a the people's paradise.....
PostPosted: Tue Mar 14, 2017 8:54 pm 
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Jeez, that is such an epic screw-up. They make the Weimar Republic look like Switzerland.

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 Post subject: Re: More news from a the people's paradise.....
PostPosted: Fri Mar 17, 2017 12:18 pm 
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Venezuela starts arresting bakers, blaming them for a bread shortage...

Quote:
BOGOTA, Colombia

Facing a bread shortage that is spawning massive lines and souring the national mood, the Venezuelan government is responding this week by detaining bakers and seizing establishments.

In a press release, the National Superintendent for the Defense of Socioeconomic Rights said it had charged four people and temporarily seized two bakeries as the socialist administration accused bakers of being part of a broad “economic war” aimed at destabilizing the country.

In a statement, the government said the bakers had been selling underweight bread and were using price-regulated flour to illegally make specialty items, like sweet rolls and croissants.

The government said bakeries are only allowed to produce French bread and white loaves, or pan canilla, with government-imported flour. However, in a tweet on Thursday, price control czar William Contreras said only 90 percent of baked goods had to be price-controlled products.

Two bakeries were also seized for 90 days for breaking a number of rules, including selling overpriced bread.

Juan Crespo, the president of the Industrial Flour Union called Sintra-Harina, which represents 9,000 bakeries nationwide, said the government’s heavy hand isn’t going to solve the problem.

“The government isn’t importing enough wheat,” he said. “If you don’t have wheat, you don’t have flour, and if you don’t have flour, you don’t have bread.”

He said the country needs four, 30-ton boats of wheat every month to cover basic demand.

The notion that bread could become an issue in Venezuela is one more indictment of an economic system gone bust. The country boasts the world’s largest oil reserves but it has to import just about everything else. Facing a cash crunch, the government has dramatically cut back imports, sparking shortages, massive lines and fueling triple-digit inflation.

Earlier this week, President Nicolás Maduro launched “Plan 700” against what he called a “bread war,” ordering officials to do spot checks of bakeries nationwide. In the plan, the government said it would not allow people to stand in line for bread but it’s unclear how it might enforce the order.

“The government is doing everything in its power to end the bread lines,” Crespo said, “but they’re looking at the whole thing backwards.”

Crespo said he’d been in touch with several union members in Caracas and that most said they’d passed the inspection by simply opening their pantries.

“The bakeries are showing the authorities that they have no bread inventory,” he said. “The government has to see the reality.”

http://www.miamiherald.com/news/nation- ... 64428.html

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 Post subject: Re: More news from a the people's paradise.....
PostPosted: Fri Mar 17, 2017 11:03 pm 
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Fan-phuqin'-tastic ... it is hard to get any better than this ... Ayn Rand tried ... but the Bogarte Repoobliquah of Vinny's Wale-ah stories are far more entertaining ...

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 Post subject: Re: More news from the people's paradise.....
PostPosted: Sat Mar 25, 2017 11:36 am 
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http://hotair.com/archives/2017/03/24/v ... ut-of-gas/

Quote:
Venezuela is out of food, out of medicine, and running out of gas

POSTED AT 9:21 PM ON MARCH 24, 2017 BY JOHN SEXTON


Ed wrote last week about the shortage of bread in Venezuela which led the country’s Vice President to announce spot checks on bakeries designed to ensure they weren’t doing anything illegal with their flour. If that sounds like a bad joke it is, but it’s also true. Bakers in Venezuela were even arrested for making brownies instead of price controlled loaves of bread.

It’s not just food that the country is running out of these days. The Associated Press reports President Maduro is now turning to the United Nations for help with medical supplies:

“I’ve asked for support from the U.N. to help treat economic and social injuries that have hit our people caused by the economic war and the sharp fall in petroleum prices,” Maduro said in a televised appearance Friday…

Maduro’s socialist administration prides itself on being a provider of humanitarian aid to poor nations around the world. Even as he called Friday for the U.N.’s assistance, his aides were hosting a business forum called “Venezuelan Powerhouse” and the military was dispatching two cargo planes of emergency supplies, including some medicine, for victims in Peru of that nation’s worst flooding in two decades.


But even more embarrassing for the socialist state is the fact that the country with the largest proven oil reserves in the world is now running out of gasoline. From Bloomberg:

“Yesterday, I went to three filling stations and I couldn’t fill my tank,” Freddy Bautista, a 26-year-old student, said in an interview while waiting outside of a gas station in the Las Mercedes area of eastern Caracas on Thursday. “I’ve been waiting 30 minutes here, and it seems like I’ll be able to fill up today.”

As the company’s crumbling refineries fail to meet domestic demand, imports have become a financial burden because the country buys fuel abroad at market prices only to sell it for pennies per gallon at home. PDVSA, as the state-run producer is known, has been reducing the money-losing imports as it prepares for $2 billion in bond payments due next month, said Jose Brito, an opposition lawmaker on the National Assembly’s oil commission.


Brito tells Bloomberg News, “It’s unbelievable that this is happening in an oil producing country.” Meanwhile, the Organization of American States is calling on Maduro’s government to hold elections and to free political prisoners including Leopoldo Lopez. Lopez is an opposition political leader who was imprisoned on charges of inciting violence against the government. Last year the opposition party tried to get a referendum on President Maduro on the ballot but the effort was abruptly canceled by Maduro’s cronies.



Again:
Quote:
the country with the largest proven oil reserves in the world is now running out of gasoline


Let that sink in.

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 Post subject: Re: More news from a the people's paradise.....
PostPosted: Mon Mar 27, 2017 3:26 pm 
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Venezuelan Currency Slowly Getting Replaced By Pepe Memes...

Quote:
Venezuela’s economy is so awful, its citizens are increasingly turning alternative currencies, including Bitcoin and even internet memes.

Software developers use Bitcoin and “Rare Pepe” trading cards to mask their transactions. Such crypto-currencies grant anonymity, meaning it’s harder for Venezuela’s socialist government to control the tech industry. Others have noticed and started using digital money in place of paper money.

“We’re based in Venezuela, and our business has been saved by bitcoin many times,” a Venezuelan developer, who wished to remain anonymous to avoid retaliation, told Crypto Insider Wednesday. “In that timeframe, thanks to bitcoin related business, we’ve grown our employee base from just 5 to 10. We’ve air-conditioned our office. Year-over-year we’ve been improving, so we’re banking big on bitcoin and now over Counterparty assets.”

Tech companies can issue “Rare Pepe” trading cards, based on the popular internet meme of a green frog, on the Bitcoin-linked Counterparty platform. The system began as a joke, but now Pepe cards are exchanged for the equivalent of thousands of dollars. Each “Rare Pepe” is linked to the value of a bitcoin, creating scarcity that’s lacking in paper money.

The unnamed developer told Crypto Insider their success stood in sharp contrast to the roughly 80 percent of nearby offices forced to shut down over the past year. His company plans to release 60 new “Rare Pepes” and create a new video game based on the cards, similar to Pokemon.

Venezuelans inflation rate is expected to top 1,640 percent in 2017, according to the International Monetary Fund.

Venezuelans are living with the consequences of decades of socialist economic policies. Price controls, for example, forced businesses to sell food at low prices, encouraging farmers to sell on the black market or outside the country.

Venezuela has some of the world’s largest petroleum reserves, but the collapse in crude oil prices is cutting into state coffers. The country can’t afford to pump oil at current prices, and as recently as February was forced to accept shipments of U.S. crude oil. The country suffers from rolling blackouts that can last for days.

http://dailycaller.com/2017/03/23/venez ... epe-memes/

_________________
I could be the catalyst that sparks the revolution
I could be an inmate in a long-term institution
I could dream to wide extremes, I could do or die
I could yawn and be withdrawn and watch the world go by
What a waste...


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 Post subject: Re: More news from a the people's paradise.....
PostPosted: Mon Mar 27, 2017 4:05 pm 
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Mac wrote:
Venezuelan Currency Slowly Getting Replaced By Pepe Memes...

Quote:
Venezuela’s economy is so awful, its citizens are increasingly turning alternative currencies, including Bitcoin and even internet memes.

Software developers use Bitcoin and “Rare Pepe” trading cards to mask their transactions. Such crypto-currencies grant anonymity, meaning it’s harder for Venezuela’s socialist government to control the tech industry. Others have noticed and started using digital money in place of paper money.

“We’re based in Venezuela, and our business has been saved by bitcoin many times,” a Venezuelan developer, who wished to remain anonymous to avoid retaliation, told Crypto Insider Wednesday. “In that timeframe, thanks to bitcoin related business, we’ve grown our employee base from just 5 to 10. We’ve air-conditioned our office. Year-over-year we’ve been improving, so we’re banking big on bitcoin and now over Counterparty assets.”

Tech companies can issue “Rare Pepe” trading cards, based on the popular internet meme of a green frog, on the Bitcoin-linked Counterparty platform. The system began as a joke, but now Pepe cards are exchanged for the equivalent of thousands of dollars. Each “Rare Pepe” is linked to the value of a bitcoin, creating scarcity that’s lacking in paper money.

The unnamed developer told Crypto Insider their success stood in sharp contrast to the roughly 80 percent of nearby offices forced to shut down over the past year. His company plans to release 60 new “Rare Pepes” and create a new video game based on the cards, similar to Pokemon.

Venezuelans inflation rate is expected to top 1,640 percent in 2017, according to the International Monetary Fund.

Venezuelans are living with the consequences of decades of socialist economic policies. Price controls, for example, forced businesses to sell food at low prices, encouraging farmers to sell on the black market or outside the country.

Venezuela has some of the world’s largest petroleum reserves, but the collapse in crude oil prices is cutting into state coffers. The country can’t afford to pump oil at current prices, and as recently as February was forced to accept shipments of U.S. crude oil. The country suffers from rolling blackouts that can last for days.

http://dailycaller.com/2017/03/23/venez ... epe-memes/


Pepe currency. :lol:
I suppose it won't be long before El Commandante Madura claims that the Pepe currency is a Donald Trump plot to undermine Venezuela. ;-)

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- misattributed to Alexis De Tocqueville

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 Post subject: Re: More news from a the people's paradise.....
PostPosted: Tue Mar 28, 2017 1:23 pm 
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chijohnaok wrote:

Pepe currency. :lol:
I suppose it won't be long before El Commandante Madura claims that the Pepe currency is a Donald Trump plot to undermine Venezuela. ;-)



Totalitarian socialists can't keep a good Pepe down!


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 Post subject: Re: More news from a the people's paradise.....
PostPosted: Thu Mar 30, 2017 7:49 pm 
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Quote:
... it won't be long before El Commandante Madura claims ...


Speaking of which ... whatever happened to that US Invasion Fleete that was supposed to be just off shore a few months ago??? Did the BDIC sink the whole Fleete!!??
:D

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