1. Same story, different day...........year ie more of the same fiat floods the world
    Dismiss Notice
  2. There are no markets
    Dismiss Notice
  3. Week of 6/24/2017 Closing prices & Chg Over Last Wk---- Gold $1256.40 Silver $16.64 Oil $43.01 USD $96.94
  4. "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"
    Dismiss Notice

Venezuela Is Starving

Discussion in 'Topical Discussions (In Depth)' started by searcher, May 6, 2017.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    124,256
    Likes Received:
    36,848
    Trophy Points:
    113
  2. Professur

    Professur Midas Member Midas Member Site Supporter ++

    Joined:
    Mar 31, 2010
    Messages:
    4,694
    Likes Received:
    4,403
    Trophy Points:
    113
    Sounds like a certain African country. Under one leadership, highly prosperous. The poor don't feel they're getting their share so management changes ... and the poor get their full share ... of what they make .. which is nothing. Coming to America soon.
     
    917601, mayhem, GOLDBRIX and 2 others like this.
  3. Cigarlover

    Cigarlover Gold Member Gold Chaser

    Joined:
    Dec 18, 2011
    Messages:
    2,579
    Likes Received:
    3,155
    Trophy Points:
    113
    Don't these people live in one of the best climates on the planet? How could they not be growing their own food by now?
     
  4. Joe King

    Joe King Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    4,028
    Likes Received:
    3,816
    Trophy Points:
    113
    Location:
    Instant Gratification Land
    I'm sure there are those who do, or a least try to, just to have it stolen by others.
     
    Mujahideen, GOLDBRIX, Aurumag and 5 others like this.
  5. nowon

    nowon Seeker Seeker

    Joined:
    Mar 30, 2010
    Messages:
    124
    Likes Received:
    101
    Trophy Points:
    43
    I remember asking an oil company friend from Venezuela how come their country had so many problems. He gave an example of the magnitude of corruption they faced from each administration. One minister of public works imported crates of what was supposed to be construction equipment (millions of $$) from Europe. The crates were unloaded and sat for years before someone opened the crates to find crushed cars and other junk steel. The minister escaped to the UK and avoided extradiction by buying a title with the money.

    Same ole, same ole
     
    Mujahideen, mayhem, gringott and 5 others like this.
  6. ToBeSelfEvident

    ToBeSelfEvident Gold Member Gold Chaser

    Joined:
    Apr 10, 2010
    Messages:
    1,316
    Likes Received:
    1,085
    Trophy Points:
    113
    Why don't the starving people go to work on the nationalized farms? At least there's food.
     
    Ebie likes this.
  7. Joe King

    Joe King Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    4,028
    Likes Received:
    3,816
    Trophy Points:
    113
    Location:
    Instant Gratification Land
    Yea there may be food there, but there's also a guy with a gun watching to make sure the workers aren't eating any of it.
     
    gringott and searcher like this.
  8. dacrunch

    dacrunch Gold Chaser Platinum Bling

    Joined:
    Apr 9, 2010
    Messages:
    3,885
    Likes Received:
    2,498
    Trophy Points:
    113
    In a country with a 12-month/year crop growing season... The result of decades of corruption, living off oil revenues, not investing into self-sufficiency (partly by "bi-lateral deals" with US, who demanded purchasing US-made goods - food - in exchange for oil)... but exacerbated by the old-style USSR/Cuba policies since Chavez...
    Only 23 million citizens... and total chaos...
     
    agnut, Mujahideen and searcher like this.
  9. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    124,256
    Likes Received:
    36,848
    Trophy Points:
    113
  10. FoundingFathers

    FoundingFathers Founder Founding Member Site Mgr Site Supporter

    Joined:
    Mar 29, 2010
    Messages:
    2,809
    Likes Received:
    4,091
    Trophy Points:
    113
    This could become the latest celebrity diet.

    Send yourself to Venezuela for 6 months and lose 30 pounds.
     
    D-FENZ and Scorpio like this.
  11. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

    Joined:
    Jan 7, 2011
    Messages:
    10,777
    Likes Received:
    8,296
    Trophy Points:
    113
    Location:
    Florida
    It is spreading to other countries too. Ecuador is getting hit hard. They need to build a wall in Colombia to keep the Venezuelans out.
     
    917601 and the_shootist like this.
  12. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    14,074
    Likes Received:
    13,874
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
    The cancer is spreading. Be prepared as it draws nearer to your neighborhood.
     
  13. GOLDBRIX

    GOLDBRIX God,Donald Trump,most in GIM2 I Trust. OTHERS-meh Site Supporter Platinum Bling

    Joined:
    Apr 4, 2010
    Messages:
    5,148
    Likes Received:
    4,788
    Trophy Points:
    113
    Gender:
    Male
    gringott likes this.
  14. Joe King

    Joe King Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    4,028
    Likes Received:
    3,816
    Trophy Points:
    113
    Location:
    Instant Gratification Land
    Part of Yemen's problem is that virtually the whole country is hooked on Khat. Farmers would rather grow that than food crops. Is there anything they grow in Venezuela that the people there might be hooked on?

     
    Mujahideen likes this.
  15. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

    Joined:
    Jan 7, 2011
    Messages:
    10,777
    Likes Received:
    8,296
    Trophy Points:
    113
    Location:
    Florida
    Lots of In-Laws next door in Ecuador and they are feeling the pressure. Their communist government just stole the latest election last month and installed another crony. South American people deserve better. Venezuela needs a military coup.

    Look at how far back Colombia has crawled since they got rid of Pablo Escobar. They are respectable now relatively speaking. Mexico is now the drug joke of Latin America. It might take a serious American intervention to fix that backward country.
     
    Last edited: May 11, 2017
    shipwreck and 917601 like this.
  16. blackgoldgq

    blackgoldgq Seeker Seeker

    Joined:
    Dec 3, 2010
    Messages:
    219
    Likes Received:
    118
    Trophy Points:
    43
    And if you are refering to Zimbabwe your analysis does not hold any water...
     
    nickndfl likes this.
  17. Professur

    Professur Midas Member Midas Member Site Supporter ++

    Joined:
    Mar 31, 2010
    Messages:
    4,694
    Likes Received:
    4,403
    Trophy Points:
    113
    If you say so .. I can't force you to be right. But for the record, the country I was talking about was Rhodesia. Zimbabwe has never been anything except a shithole.
     
    Uncle, nickndfl and GOLDBRIX like this.
  18. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    14,074
    Likes Received:
    13,874
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
    Shit, so much entertainment going on in the world, I need more popcorn!

    :popcorn:
     
  19. 917601

    917601 Mother Lode Found Mother Lode

    Joined:
    Apr 2, 2010
    Messages:
    11,043
    Likes Received:
    8,969
    Trophy Points:
    113
    image.jpeg ...........it took years for the collapse, it will take decades for a " recovery", if there ever is one....getting time for a one world money, that will fix all the problems.....
     
  20. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    14,074
    Likes Received:
    13,874
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
    It might be a good time to get in on the bolivar!:belly laugh:
     
    TAEZZAR and Mujahideen like this.
  21. Mujahideen

    Mujahideen Black Member Midas Member

    Joined:
    Mar 31, 2010
    Messages:
    7,936
    Likes Received:
    11,420
    Trophy Points:
    113
    Gender:
    Male
    False.

    There are many trillionairs in that country.
     
    GOLDZILLA and nickndfl like this.
  22. Professur

    Professur Midas Member Midas Member Site Supporter ++

    Joined:
    Mar 31, 2010
    Messages:
    4,694
    Likes Received:
    4,403
    Trophy Points:
    113
    Hell, I'm a Zimbabwean trillionaire myself. Cost me .... Hmm, $10 US including shipping.
     
  23. TAEZZAR

    TAEZZAR LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    10,157
    Likes Received:
    15,431
    Trophy Points:
    113
    Location:
    ORYGUN
    Be careful. I was in Peru the very day they cancelled the Sol & went to the Inti (both mean "sun" in each language).
    The people were given a short time span to trade their large rolls of Soles for a few Inti's.

    Beginning in 1979, larger demoninations of banknotes were issued by the Central Reserve Bank of Peru. These notes included the 10,000 Soles de Oro banknote, released in 1979, the 50,000 Soles de Oro banknote in 1982, and the 100,000 Soles de Oro banknote in 1985. By this time the exchange rate to the USD was 5,965.98 to 1.

    The chronic inflation of the PEH resulted in its replacement with the Peruvian Inti (PEI) named after the Inca sun god. On February 1, 1985 old soles notes could be exchanged for new inti banknotes at a rate of 1000 PEH to 1 PEI. The initial value of the new currency was 11.65 PEI to 1 USD. Coins denominated in the new currency were put into circulation starting in May 1985 and banknotes followed in June of that year.

    In 1986, the highest denomination was 1,000 intis. However in September 1988, amidst excessive printing of the currency by the government to fund expenditures (a practice known as seigniorage) monthly inflation soared to 132%. In August 1990, monthly inflation was 397%. At the end of that year, it took 516,989 PEI to purchase 1 USD. The highest denomination was 5,000,000 intis, released in 1991.



    WOW WHAT A SIMULARITY !!!

    [​IMG]


    [​IMG]

    [​IMG]


    THERE IS A STORY TO BE TOLD HERE .
     
    GOLDBRIX, the_shootist and Mujahideen like this.
  24. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    14,074
    Likes Received:
    13,874
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
    Yep!! Been transferring FRNs into other forms of value for about two years now. I wouldn't say I'm immune to the dollar's collapse when (not if) it happens but I can say I'm fairly well protected against financial catastrophe.
     
    TAEZZAR likes this.
  25. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

    Joined:
    Jan 7, 2011
    Messages:
    10,777
    Likes Received:
    8,296
    Trophy Points:
    113
    Location:
    Florida
    Venezuela , Brazil and Argentina need to go on the $USD, believe it or not. Ecuador is on the dollar and it's what is keeping them afloat and limits the amount of government corruption (from 100% to 90%).
     
    917601 likes this.
  26. TAEZZAR

    TAEZZAR LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    10,157
    Likes Received:
    15,431
    Trophy Points:
    113
    Location:
    ORYGUN
    Out of the pan & into the flame !
     
  27. 917601

    917601 Mother Lode Found Mother Lode

    Joined:
    Apr 2, 2010
    Messages:
    11,043
    Likes Received:
    8,969
    Trophy Points:
    113
    image.png Say what you will, but the USD has been the strongest currency for decades and will remain so. The USD " crash" has been predicted many a time since 2001, and again since the meltdown of 07/08, when the USD was at 70 something.....GUESS WHAT IT IS TODAY? ....popping 100! ....as long as all the other currencies are weak/weakening, the USD will remain King....in fact, I see 120 with Trump in charge.....PS, stop wasting decades preparing for a USD wipe out, if that occurs nothing will save your "wealth".
     
    Last edited: May 11, 2017
  28. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

    Joined:
    Jan 7, 2011
    Messages:
    10,777
    Likes Received:
    8,296
    Trophy Points:
    113
    Location:
    Florida
    Banana Republic governments cannot manipulate the $USD. They can only steal from their citizens instead of giving them worthless currency and stealing it too.
     
  29. solarion

    solarion Gold Member Gold Chaser

    Joined:
    Nov 25, 2013
    Messages:
    3,315
    Likes Received:
    5,000
    Trophy Points:
    113
    The USD index is just a measure of one crap fiat vs other crap fiat currencies...particularly the failing zerozone currency. Who gives an actual fuq what it says?

    The purchasing power of the USD melts like an iceberg in Egypt.
     
    TAEZZAR likes this.
  30. 917601

    917601 Mother Lode Found Mother Lode

    Joined:
    Apr 2, 2010
    Messages:
    11,043
    Likes Received:
    8,969
    Trophy Points:
    113
    ...."no one, no one ever got rich betting against the USD"......a word of advice an extremely wealthy and elderly trader told me years ago....it has rung true for decades....
    PS, he did make a fist full of USD's betting AGAINST gold.....that's another story.
     
  31. solarion

    solarion Gold Member Gold Chaser

    Joined:
    Nov 25, 2013
    Messages:
    3,315
    Likes Received:
    5,000
    Trophy Points:
    113
    Good for him, but it's pretty easy to calculate historic gains in USD terms by holding gold.

    $28.39/Ozt in 1913 and $1224.80/Ozt right this moment. This is despite the corrupt criminal sh1tbags that run this failed republic overtly manipulating markets to contain the price of honest money. No sir, the USD will fail again just like it did as recently as August of 1971 and have to be replaced. The only question is, are the masses stupid enough to just blindly accept another crap fiat currency.
     
    TAEZZAR likes this.
  32. 917601

    917601 Mother Lode Found Mother Lode

    Joined:
    Apr 2, 2010
    Messages:
    11,043
    Likes Received:
    8,969
    Trophy Points:
    113
    The masses realize it is the best fiat currency available, has been for years....do realize the DOW was in the 600's in the seventies, 22,000 today.....outperformed gold exponentially......gold is nothing more than catastrophic insurance, only called upon when an " accident" occurs....most folks pay way to much in insurance, ......life insurance, health insurance, car insurance, house insurance, renters insurance....Gold is money, but only when all other money fails.....
     
  33. solarion

    solarion Gold Member Gold Chaser

    Joined:
    Nov 25, 2013
    Messages:
    3,315
    Likes Received:
    5,000
    Trophy Points:
    113
    You have a strange idea about what the word "exponentially" means sir. Adjust that crap dow(measured in dollars) for real inflation and it hasn't done all that well.

    The stock market is completely rigged crap at this point.
     
  34. 917601

    917601 Mother Lode Found Mother Lode

    Joined:
    Apr 2, 2010
    Messages:
    11,043
    Likes Received:
    8,969
    Trophy Points:
    113
    "The stock market is completely rigged crap at this point."

    Let me fix your statement , " The PM market is completely rigged cr@p at this point".
     
  35. solarion

    solarion Gold Member Gold Chaser

    Joined:
    Nov 25, 2013
    Messages:
    3,315
    Likes Received:
    5,000
    Trophy Points:
    113
    They both are...and it's not even a theory. The same scumbags rig them both, but only paper assets have counterparty risk that will sooner or later turn them into nothing.
     
    TAEZZAR likes this.
  36. TAEZZAR

    TAEZZAR LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    10,157
    Likes Received:
    15,431
    Trophy Points:
    113
    Location:
    ORYGUN
    How can anyone have faith in a monetary system that has gone from a 100 penny dollar to less than a 2.5 penny dollar?
    The dollar shall die, it is just when will it die? It has been on artificial life support for 40 years.

    Borrowed from solarion:
    "A dollar is a receipt for a claim check on an IOU." - Mike Maloney
     
    the_shootist and solarion like this.
  37. 917601

    917601 Mother Lode Found Mother Lode

    Joined:
    Apr 2, 2010
    Messages:
    11,043
    Likes Received:
    8,969
    Trophy Points:
    113
    ....still the best currency around. I can wallpaper my whole house with paper currencies that became worthless in my lifetime. I am not concerned, wake me up when we go cash less....then you will have my attention. In the mean time, I will keep multiplying my USD's through other investments whose return beats inflation. As for when will it die and when can I use it for wallpaper? ......after we do.
     
    the_shootist likes this.
  38. solarion

    solarion Gold Member Gold Chaser

    Joined:
    Nov 25, 2013
    Messages:
    3,315
    Likes Received:
    5,000
    Trophy Points:
    113
    Wow, nice call numbers. You managed to pick the very top of the scheisse dollar market. Now down over 3% in a week vs even shittier shit. Perhaps your calls should come with a disclaimer of some sort at this point...we wouldn't want another shemitah debacle after all.

    [​IMG]
     
  39. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    14,074
    Likes Received:
    13,874
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
    Which is why gold is not an investment for wealth, it preserves wealth and should be a PART of your portfolio. Just like you shouldn't have all your wealth in stocks, so should you not have all your wealth in metals.

    Like anything else. it takes a little work to get it right
     
    917601 likes this.
  40. SilverCity

    SilverCity Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    2,793
    Likes Received:
    2,193
    Trophy Points:
    113
    Occupation:
    retired aerospace
    Location:
    New Babylon
    Off of a computer screen...

    SC
     

Share This Page