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[–] Broc_Lia 0 points 1 point 1 point (+1|-0) ago
The Venezueland government has been complaining about sanctions for over a year, but they weren't sanctions against the country at all. Basicly Washington confiscated the private bank accounts that some of the senior chavists were embezelling their retirement fund into. They were understandably vague about what exactly the sanctions entailed.
Their economy is tanking because of out of control public spending, the refusal to maintain or invest in the oil extraction operations they plundered, inflating their currency through the roof and retarded price controls.
For example they mandate that flour can't be sold above a certain price, so no one can import it because it costs more than they're allowed to sell it. The government imports some flour with their cash reserves, then sell it at a loss to whoever's at the front of the breadline that day, those people then resell it at an enormous profit on the black market to people who couldn't be in the line because they were at work. Some of it is also distributed for free to party loyalists and some of it goes to bakers who are strictly regulated as to what products they can make and how much they're allowed to sell them for.
Their is no getting around the fact that their economic policies have been absolutely disastrous.
So did Chavez. Socialism works wonderfully until you run out of other people's money. If WW2 hadn't kicked off Hitler would have been screwed. His Volkswagen savings plan was worse than a ponzi scheme: it didn't even use new investments to pay off the old ones. It just didn't pay anyone at all.
[–] pby1000 ago
Is Venezuela allowed to sell its oil on the international markets? I believe they are not, and that is a huge loss of revenue. I read that they made a deal with Cuba. Venezuela would send Cuba oil and Cuba would provide Venezuela with medical assistance.
I understand what you are saying. I have heard it all, and I have been through this with plenty of people.
You want to know how Venezuela can fix their economic problems? Kick out the CIA. Socialism does not work because it cannot be allowed to work. If people realize that Socialism works, then everyone will want it. The more money that is spent to benefit the people, the less money there is for the international bankers to steal.
Are you familiar with how Gaddafi ran Libya?
Let me ask you this. What should happen to the taxes that are paid?
[–] Broc_Lia 0 points 1 point 1 point (+1|-0) ago (edited ago)
Read the article, they're refining their oil in Curacao. If they hadn't been freely selling their oil then they wouldn't even have enjoyed their initial successes, let along lasted this long through yet another socialist manmade famine.
The CIA didn't write the laws of economics. Government theft rarely if ever "benefits the people." Nor do their price controls. Venezuela is fucked until they ditch their failed policies and allow their people to trade normally again.
Yes. Into the ground. This despite obvious propaganda that gets passed around about how every libyan had a free house and hundreds of thousands of dollars a year in oil revenues. If that shit had ever happened libya would be the wealthiest country on earth and no revolution would have been possible.
They should immediately be repaid to the person they were stolen from with an apology note and a promise not to do it again.