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Maduro sets limits on company profits and prison terms for hoarding or over charging

Sunday, January 26th 2014 - 12:06 UTC
Full article 16 comments

Venezuela decreed a new price control law that sets limits on company profits and establishes prison terms for those charged with hoarding or over-charging, part of populist President Nicolas Maduro's efforts to tame inflation. Read full article


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  • Captain Poppy

    I suppose 3 rolls of tiolet paper can be haording and get you dioing some serious disco time doing hardcore Boogoloo time......even worse......5 years doing the Hustle!

    Jan 26th, 2014 - 03:15 pm - Link - Report abuse 0
  • ilsen

    Easy to laugh, but Vnzla jails are some of the worst in the world, over 500 murdered within the prison system last year, guns, drugs and extreme violence are the currency.
    Food/bedding are the responsibility of the prisoner/their family. The guards only control the gates and outside the walls, inside is run by 'pranes' the gang bosses.

    Meanwhile, back on the ranch...
    Today's prices guys (blue/black market)
    76 Bolivars will buy 1 USD (official rate still at 6.3...)
    101 Bolivars will buy you 1 Euro

    Jan 26th, 2014 - 04:00 pm - Link - Report abuse 0
  • golfcronie

    What can you buy with 1 Euro?

    Jan 26th, 2014 - 09:07 pm - Link - Report abuse 0
  • Britworker

    Who cares, they voted the lunatic in. A shining example of Latam leadership.

    Jan 26th, 2014 - 10:06 pm - Link - Report abuse 0
  • ilsen

    @ 4 Britworker
    hmm.. yes, but debatable regarding the legitimacy of the 14 April 2013 presedential election. Voters gave Nicolás Maduro—who had assumed the role of acting president since Chávez's death—a narrow victory over his opponent Henrique Capriles Radonski, the Governor of Miranda.
    The margin of victory was 1.49% - Highly disputed and a recount was denied by the Supreme Court (all appointed by Chavez).
    But I totally agree with your last comment, which I can assume was heavily sarcastic? Madurro is an uneducated fool, who Chavez annointed only because he couldn't trust anyone else in his gang...
    Venezuela is in a tail-spin and heading towards a full-blow military-socialist dictatorship. Expect it this year.

    Jan 26th, 2014 - 11:55 pm - Link - Report abuse 0
  • Idlehands

    Funnily enough I watched “Get The Gringo” over the weekend and it depicted a prison just like the one described in the the link above. Hadn't realised it was based on what they are really like.

    Jan 27th, 2014 - 11:00 am - Link - Report abuse 0
  • ChrisR

    “The Venezuelan president fighting the fundamentals of markets”

    Ha, ha, ha.

    Another LatAm president who thinks he can dictate to the markets.

    ONLY Mr. Market will decide what happens to the markets.

    This bus driving idiot and Dilma have yet to learn that. The more they press the harder the lesson will be.

    Jan 27th, 2014 - 03:35 pm - Link - Report abuse 0
  • ilsen

    @7 ChrisR
    couldn't agree more. What is confusing though...
    Chavez and now Ma-Burro took ideological guidance from Castro. Cuba is now appearing to want to “come in from the Cold” whereas the venezuelan left is determined to drag the country deeper into a Marxist wilderness. ...
    any thoughts on that? Anyone?

    Jan 28th, 2014 - 03:44 am - Link - Report abuse 0
  • ChrisR

    @ 8 ilsen

    I think the crucial word relating to Cuba is “appearing” because I cannot see the second rank military below the Castro cabal giving up their power, just the opposite.

    The “changes” to date have been more to do with getting money from anywhere to prop up the existing regime now that Russia is no longer financing the “experiment” in torturing the States, the social effect as just secondary.

    Venezuela is on course for a full blown military takeover and I expect this to be in place before 2015, then they will really be in the crapper.

    Jan 28th, 2014 - 10:23 am - Link - Report abuse 0
  • yankeeboy

    I wonder when the Happiness Minister will start jailing sad people.

    Gads they couldn't be more foolish if they tried.

    Jan 28th, 2014 - 03:46 pm - Link - Report abuse 0
  • ilsen

    @9 - Good points there, Vnzla is now Cuba's experiment IMO...

    @10 - May I humbly inform you kind sir, that the full title of, the no doubt highly-esteemed Rafael Ríos, is (now wait for it,,, wait for it...)

    Vice Minister of Supreme Social Happiness. (boom-tiddly-boom!)

    Fo' real, man! I kid you not!
    All together now; “we're off to see the wizard, we're off to see the wizard, the wonderfull wizard of, oh um, shit, shit, oh shit!, OH SHIT! look out!” (crash, bang, wallop, burn etc.)

    Meanwhile, back on the ranch (of reality);
    “In downtown Caracas, fruit vendor Victor Rey said he is now waiting for Maduro to create a vice ministry of beer. Housewife Liliana Alfonzo, 31, said that instead ... she would prefer being able to get milk and toilet paper.” (Telegraph/AP 26/102013)

    Laugh? Cry? Doesn't matter, off to hell in a hand-cart methinks...

    Jan 28th, 2014 - 05:54 pm - Link - Report abuse 0
  • ChrisR

    @ 11 ilsen

    They do love their titles in SA don’t they.

    The obvious thing though, purely determined empirically, is that the longer the title an individual has the less important they are.

    Jan 28th, 2014 - 07:08 pm - Link - Report abuse 0
  • ilsen

    @12 ChrisR
    Lol. I have heard that said!

    news just in from (Gov rate still held at 6.3/1usd)
    1 USD will cost you 79.31 Bsf
    1 Euro will cost you 105.14 Bsf
    1 UK sterling, if you have to ask, you can't afford it!

    Jan 29th, 2014 - 04:39 am - Link - Report abuse 0
  • ron_57


    Feb 01st, 2014 - 01:00 am - Link - Report abuse 0
  • Captain Poppy

    The richest oil reserve country in the world.........and almost the poorest people in the world.


    Who pays the price?

    The average Jose Venezuelan.

    Feb 01st, 2014 - 02:31 pm - Link - Report abuse 0
  • ilsen

    Feb 3, 2014, a Public Service Announcement.

    --- Official Bolivarian ‘Wonderland’ Exchange Rate in Venezuela ---
    BCV 6.3Bsf / 1USD (SICAD 11.3Bsf /1 USD*) ----Today’s Reality Cheque --- The ‘Lechuga Verde’ or ‘Blue Dollar’
    81.46 Bsf / 1 USD
    106.97 Bsf / 1 Euro
    Brought to you by Ilsen Publications ©2014 (because is banned/blocked in Vnzla by the current ‘administration’/dictatorship)
    *(Ancillary Foreign Currency Administration System)

    Feb 04th, 2014 - 12:00 am - Link - Report abuse 0

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