Tuesday, 13 December 2016
SOCIALISM, making everyone equally poor.........
Former bus driver and current Socialist fuhrer of Venezuela, Maduro has just made a move that North Korea, Zimbabwe, Paul Krugman, or Maynard Keynes never dreamed of.
Maduro just announced on TV that he was pulling Venezuela's highest denomination currency/note from circulation (the 100 Bolivar note, worth ~2cents US), in 72 hours.
- This immediately solves Venezuela's TP shortage. What it does for the 550% inflation rate, well.......probably not much.
With over six billion 100 Bolivar notes in circulation (48% of the circulating cash) Maduro has just eliminated half the money in Venezuela by Executive Order (eat 'yer heart out, Barry) and signed Venezuela's economic death warrant.
From Theo Spark at 11:22