Venezuela Meltdown

Lies, damned lies, and statistics.
shuize
Posts: 547
Joined: Tue Nov 14, 2017 4:32 am

Re: Venezuela Meltdown

Post by shuize » Tue Dec 04, 2018 12:59 pm

Great news investors! Your worthless petros just more than doubled in worthlessness.
Venezuela’s President Nicolas Maduro has announced that the price of the petro, his country’s national “cryptocurrency,” has been increased from 3,600 sovereign bolivars to 9,000. While the wallet for the petro is still unavailable, the Venezuelan government continues to sell the digital currency and issue certificates of purchase to buyers.
As noted in the article, the geniuses in the Venezuelan government managed to further devalue the bolivar by fiat:
now a petro is decreed at 9,000 Bs.s … you have just devalued the sovereign bolivar with respect to the petro and by more than 100%,” elaborating: 'Anchoring the bolivar to the petro is anchoring it to nothing.'
https://news.bitcoin.com/maduro-price-v ... ocurrency/

shuize
Posts: 547
Joined: Tue Nov 14, 2017 4:32 am

Re: Venezuela Meltdown

Post by shuize » Wed Dec 19, 2018 11:08 pm

Good thing they banned guns in 2012!

With all the other problems they're having, at least they don't have to worry about violent crime.
Under the new [2012] law, only the army, police and certain groups like security companies will be able to buy arms from the state-owned weapons manufacturer and importer.
https://www.bbc.com/news/world-latin-america-18288430

User avatar
ed
Posts: 33646
Joined: Tue Jun 08, 2004 11:52 pm
Title: Rhino of the Florida swamp

Re: Venezuela Meltdown

Post by ed » Sun Dec 23, 2018 10:57 pm

About that ban
CUCUTA, Venezuela/Colombia border – As Venezuela continues to crumble under the socialist dictatorship of President Nicolas Maduro, some are expressing words of warning – and resentment – against a six-year-old gun control bill that stripped citizens of their weapons.

“Guns would have served as a vital pillar to remaining a free people, or at least able to put up a fight,” Javier Vanegas, 28, a Venezuelan teacher of English now exiled in Ecuador, told Fox News. “The government security forces, at the beginning of this debacle, knew they had no real opposition to their force. Once things were this bad, it was a clear declaration of war against an unarmed population.”

Under the direction of then-President Hugo Chavez, the Venezuelan National Assembly in 2012 enacted the “Control of Arms, Munitions and Disarmament Law,” with the explicit aim to “disarm all citizens.” The law took effect in 2013, with only minimal pushback from some pro-democracy opposition figures, banned the legal commercial sale of guns and munitions to all - except government entities.
https://www.foxnews.com/world/venezuela ... -ourselves
Wenn ich Kultur höre, entsichere ich meinen Browning!

shuize
Posts: 547
Joined: Tue Nov 14, 2017 4:32 am

Re: Venezuela Meltdown

Post by shuize » Tue Dec 25, 2018 12:02 am

ed wrote:
Sun Dec 23, 2018 10:57 pm
About that ban
CUCUTA, Venezuela/Colombia border – As Venezuela continues to crumble under the socialist dictatorship of President Nicolas Maduro, some are expressing words of warning – and resentment – against a six-year-old gun control bill that stripped citizens of their weapons.

“Guns would have served as a vital pillar to remaining a free people, or at least able to put up a fight,” Javier Vanegas, 28, a Venezuelan teacher of English now exiled in Ecuador, told Fox News. “The government security forces, at the beginning of this debacle, knew they had no real opposition to their force. Once things were this bad, it was a clear declaration of war against an unarmed population.”

Under the direction of then-President Hugo Chavez, the Venezuelan National Assembly in 2012 enacted the “Control of Arms, Munitions and Disarmament Law,” with the explicit aim to “disarm all citizens.” The law took effect in 2013, with only minimal pushback from some pro-democracy opposition figures, banned the legal commercial sale of guns and munitions to all - except government entities.
https://www.foxnews.com/world/venezuela ... -ourselves
Exactly. But thanks to the gun ban, at least they don't have to worry about violent crime, right?

User avatar
ed
Posts: 33646
Joined: Tue Jun 08, 2004 11:52 pm
Title: Rhino of the Florida swamp

Re: Venezuela Meltdown

Post by ed » Tue Dec 25, 2018 12:25 am

:doglaugh: :doglaugh: What the fuck is there to steal? Bolivars?
Wenn ich Kultur höre, entsichere ich meinen Browning!

shuize
Posts: 547
Joined: Tue Nov 14, 2017 4:32 am

Re: Venezuela Meltdown

Post by shuize » Tue Dec 25, 2018 1:05 am

ed wrote:
Tue Dec 25, 2018 12:25 am
What the fuck is there to steal? Bolivars?
Petros, maybe.

But since the government is looking out for everyone's best interests, I'm sure violent crime isn't a problem.

User avatar
Witness
Posts: 17759
Joined: Thu Sep 19, 2013 5:50 pm

Re: Venezuela Meltdown

Post by Witness » Tue Dec 25, 2018 10:04 pm

Russia announces plans to set up its first ever military base in the Caribbean - the country's largest presence in the region since the Cuban Missile Crisis in 1962
  • Russia's TASS news agency reported the base would be in La Orchila, Venezuela
  • The island of La Orchila is situated 125 miles northeast of the capital of Caracas
  • After striking a deal with President Nicolas Maduro military jets will land there
  • It will be Russia's largest Caribbean deployment since the Cuban Missile Crisis
https://www.dailymail.co.uk/news/articl ... bbean.html

User avatar
Abdul Alhazred
Posts: 72296
Joined: Mon Jun 07, 2004 1:33 pm
Title: Yes, that one.
Location: Chicago

Re: Venezuela Meltdown

Post by Abdul Alhazred » Tue Dec 25, 2018 10:29 pm

As long as there's no nukes there, why not?
Image "If I turn in a sicko, will I get a reward?"

"Yes! A BIG REWARD!" ====> Click here to turn in a sicko
Any man writes a mission statement spends a night in the box.
-- our mission statement plappendale

User avatar
WildCat
Posts: 14245
Joined: Tue Jun 15, 2004 2:53 am
Location: The 33rd Ward, Chicago

Re: Venezuela Meltdown

Post by WildCat » Wed Dec 26, 2018 2:54 am

Abdul Alhazred wrote:
Tue Dec 25, 2018 10:29 pm
As long as there's no nukes there, why not?
Of course there's going to be nukes there, Russian ships carry nukes.
Do you have questions about God?

you sniveling little right-wing nutter - jj

User avatar
Abdul Alhazred
Posts: 72296
Joined: Mon Jun 07, 2004 1:33 pm
Title: Yes, that one.
Location: Chicago

Re: Venezuela Meltdown

Post by Abdul Alhazred » Wed Dec 26, 2018 2:29 pm

War for oil in Venezuela?

Venezuela Navy Interrupts Oil Exploration Off Guyana
The New York Times
An oil-exploration ship contracted by Exxon Mobil suspended operations off the coast of Guyana over the weekend after it was approached by a Venezuelan navy vessel in a renewal of a century-old border dispute.

...
Analysis: Regain political legitimacy by starting a war.

I take back my casual dismissal of Russians in Venezuela.
Image "If I turn in a sicko, will I get a reward?"

"Yes! A BIG REWARD!" ====> Click here to turn in a sicko
Any man writes a mission statement spends a night in the box.
-- our mission statement plappendale

User avatar
Witness
Posts: 17759
Joined: Thu Sep 19, 2013 5:50 pm

Re: Venezuela Meltdown

Post by Witness » Thu Dec 27, 2018 12:25 am

↑ Perhaps, perhaps:
Special Report: Oil output goes AWOL in Venezuela as soldiers run PDVSA

CARACAS (Reuters) - Last July 6, Major General Manuel Quevedo joined his wife, a Catholic priest and a gathering of oil workers in prayer in a conference room at the headquarters of Petroleos de Venezuela SA, or PDVSA.

The career military officer, who for the past year has been boss at the troubled state-owned oil company, was at no ordinary mass. The gathering, rather, was a ceremony at which he and other senior oil ministry officials asked God to boost oil output.

“This place of peace and spirituality,” read a release by the Oil Ministry that was later scrubbed from its web site, “was the site of prayer by workers for the recovery of production of the industry.”

President Nicolas Maduro turned heads in November 2017 when he named a National Guard general with no oil experience to lead PDVSA [PDVSA.UL]. Quevedo’s actions since have raised even more doubts that he and the other military brass now running the company have a viable plan to rescue it from crushing debt, an exodus of workers and withering production now at its lowest in almost seven decades.

Aside from beseeching heaven, Quevedo in recent months has enacted a series of controversial measures that oil industry experts, PDVSA employees and contractors, and even everyday citizens say are pushing the once-profitable and respected company towards ruin.
[…]
Workers who make mistakes operating increasingly dilapidated PDVSA equipment now face the risk of arrest and charges of sabotage or corruption. Military chieftains, moonlighting in the private sector, are elbowing past other contractors for lucrative service and supply business with PDVSA.

In a little-noted reversal of the Socialist government’s two-decade drive to nationalize the industry, the lack of expertise among military managers is leading PDVSA to hire outsiders to keep afloat even basic operations, like drilling and pumping oil. To the dismay of many familiar with Venezuela’s oil industry, some of the contracts are going to small, little-known firms with no experience in the sector.
Rest of the article, in the same vein: https://www.reuters.com/article/us-vene ... reddit.com

Let's hope a divine intervention will save the oil industry... :P

User avatar
Grammatron
Posts: 33788
Joined: Tue Jun 08, 2004 1:21 am
Location: Los Angeles, CA

Re: Venezuela Meltdown

Post by Grammatron » Thu Dec 27, 2018 5:24 pm

How does oil output go AWOL(Absent Without Leave)?

shuize
Posts: 547
Joined: Tue Nov 14, 2017 4:32 am

Re: Venezuela Meltdown

Post by shuize » Fri Dec 28, 2018 12:54 am

I recently watched a YouTube video that told the same story about the shitshow Venezuela has become.

But at around 20:20 the discussion about the gasoline situation caught my attention.

The video said station attendants preferred to take a cookie or a cigarette rather than cash for a tank of gas. It also said it would cost around $7 to fill up a tanker truck full of gas that would sell across the border for $25,000.

In other words, the situation is so fucked up that they can't make the economy work even when gasoline is basically free.


User avatar
Grammatron
Posts: 33788
Joined: Tue Jun 08, 2004 1:21 am
Location: Los Angeles, CA

Re: Venezuela Meltdown

Post by Grammatron » Fri Dec 28, 2018 3:20 am

But how does it keep going?

User avatar
Doctor X
Posts: 68277
Joined: Fri Jun 04, 2004 8:09 pm
Title: Collective Messiah
Location: Your Mom

Re: Venezuela Meltdown

Post by Doctor X » Fri Dec 28, 2018 3:49 am

"Too big to fail."

--J.D.
Mob of the Mean: Free beanie, cattle-prod and Charley Fan Club!
"Doctor X is just treating you the way he treats everyone--as subhuman crap too dumb to breathe in after you breathe out."--Don
DocX: FTW.--sparks
"Doctor X wins again."--Pyrrho
"Never sorry to make a racist Fucktard cry."--His Humble MagNIfIcence
"It was the criticisms of Doc X, actually, that let me see more clearly how far the hypocrisy had gone."--clarsct
"I'd leave it up to Doctor X who has been a benevolent tyrant so far."--Grammatron
"Indeed you are a river to your people.
Shit. That's going to end up in your sig."--Pyrrho
"Try a twelve step program and accept Doctor X as your High Power."--asthmatic camel
"just like Doc X said." --gnome

WS CHAMPIONS X4!!!! NBA CHAMPIONS!! Stanley Cup! SB CHAMPIONS X5!!!!!

shuize
Posts: 547
Joined: Tue Nov 14, 2017 4:32 am

Re: Venezuela Meltdown

Post by shuize » Fri Dec 28, 2018 4:22 am

Grammatron wrote:
Fri Dec 28, 2018 3:20 am
But how does it keep going?
"There's a lot of ruin in a nation."

User avatar
WildCat
Posts: 14245
Joined: Tue Jun 15, 2004 2:53 am
Location: The 33rd Ward, Chicago

Re: Venezuela Meltdown

Post by WildCat » Fri Dec 28, 2018 4:29 am

Grammatron wrote:
Fri Dec 28, 2018 3:20 am
But how does it keep going?
Apparently there's still money to pay the military and the militias.
Do you have questions about God?

you sniveling little right-wing nutter - jj

shuize
Posts: 547
Joined: Tue Nov 14, 2017 4:32 am

Re: Venezuela Meltdown

Post by shuize » Fri Dec 28, 2018 6:11 am

Another video I thought was interesting.



The two takeaways from this one:

Don't get injured in Venezuela. At 21:00 minutes the police bring a guy to a hospital for a gunshot wound to the hand, but the hospital turns him away because they don't have supplies to stitch a wound.

Don't get arrested in Venezuela. Just don't. At 22:00 minutes you can see why.

User avatar
Anaxagoras
Posts: 22477
Joined: Wed Mar 19, 2008 5:45 am
Location: Yokohama/Tokyo, Japan

Re: Venezuela Meltdown

Post by Anaxagoras » Fri Dec 28, 2018 9:00 am

Grammatron wrote:
Fri Dec 28, 2018 3:20 am
But how does it keep going?
Good question. Anything that cannot go on forever will end eventually.

But it's hard to predict how long it will continue.
A fool thinks himself to be wise, but a wise man knows himself to be a fool.
William Shakespeare

shuize
Posts: 547
Joined: Tue Nov 14, 2017 4:32 am

Re: Venezuela Meltdown

Post by shuize » Fri Dec 28, 2018 11:13 am

Grammatron wrote:
Fri Dec 28, 2018 3:20 am
But how does it keep going?
I don't really know. But from the videos I've been watching, a lot of people seem to be surviving by barter, blackmarket trading, prostitution, and foreign currency remittances.