MercoPress. South Atlantic News Agency
Venezuela's Bolivar hits a record low of 100 to the US dollar
Venezuela's Bolivar currency hit a record low 100 to the U.S. dollar on the black market on Friday, making the dollar 16 times more expensive than the strongest official rate, according to a website that tracks it. Read full article
Comments
Disclaimer & comment rulesFrom time to time I am in doubt whether the Central Bank is even Brazilian or North-American.
Sep 29th, 2014 - 09:45 am - Link - Report abuse 0The Central Bank of Brazil must let the dollar float freely, without making use of exchange rate bands.
We would save money and would gain competitiveness for our products with the appreciation of the dollar.
The market does what the market expects based on facts. Argentina........are you reading?
Sep 29th, 2014 - 10:13 am - Link - Report abuse 0And now that Dumbo the bus driver took over the Clorox factory, how long will it be before we see incidental deaths from the lack of knowledge of making chlorine bleach? In the air, waterways.
Dumber=Dilma
Dumberer=Kirchner
Dumberest=Bus Driver Maduro
This will make a great movie.
Hah, stupid fascist western economists!
Sep 29th, 2014 - 10:24 am - Link - Report abuse 0See how, by devaluing our currency, there's more of it to go around for everyone!
Print, my pretties, print more pesos!
We'll be rich beyond our wildest dreams!
The dollar at R $ 3.00 would prevent the middle class were shopping in Miami and New York. We would stop spending 30 billion dollars in tourism.
Sep 29th, 2014 - 10:25 am - Link - Report abuse 0This mountain of money would be spent here in Brazil.
@ 4 Brasso
Sep 29th, 2014 - 11:17 am - Link - Report abuse 0The 'REAL' is presently 2.439 for a Dollar on the international markets.
Why do you want to weaken your currency and make your imports dearer?
Why don't you get your head out of your arse and look at the world?
If people have money to spend they will spend it wherever they want. Remember the people ARE Mr. Market and he does what he wants, not what some lying Brazilian such as Mantega wants.
You still don't get it do you?
Its really not that hard, why can't any of these countries work it out.
Sep 29th, 2014 - 12:17 pm - Link - Report abuse 0If you increase the supply of currency more than you increase the productivity in the economy, inflation ensues (over the long term).
Its funny how the Blue Dollar in Argentina has roughly tracked the increase in money supply over the last few years yet they still refuse to acknowledge that printing money causes inflation which results in misery for the poorer classes.
Kici et. al. like to point out that the US has increased their currency supply massively without corresponding inflation. Msg to Kici: the Argentine Peso is not the worlds reserve currency.
As long as there is no toxic and nor a deathly cloud of chlorine gass released from the occupied Clorox plant, a plant manager was quoted as saying they could operate for the next 40 days without problem producing their main product.
Sep 29th, 2014 - 12:50 pm - Link - Report abuse 0The problem is however is that at current cost controls, they are selling product at approximately 1/5th their production cost.
@4
Sep 29th, 2014 - 12:57 pm - Link - Report abuse 0“This mountain of money would be spent here in Brazil.”
Yes, but spent on what exactly? Without imports you will only be able to afford things made cheaply in Brazil using Brazilian raw materials. Will your middle classes be satisfied to work hard, pay tax and yet be unable to access the goods and services of more developed countries?
http://www.bloomberg.com/news/2014-09-29/venezuelan-army-enjoys-meat-to-cars-denied-most-citizens.html
Sep 29th, 2014 - 05:27 pm - Link - Report abuse 0Cristina's friend and mentor
Hoho! Not bad if you are on the 'right end' of the black-market... one hundred BSF for a dollar, when officially one can still only get 6.3?
Sep 29th, 2014 - 06:05 pm - Link - Report abuse 0Result!
Which of course, I am not doing. Oh no!
on a slight tangent, I bring you this;
”(Reuters) - Cuba has aborted plans to develop fragrances in honor of the late revolutionary hero Ernesto “Che” Guevara and former Venezuelan President Hugo Chavez, calling the project disrespectful of two “sacred” revolutionary symbols.
The executive committee of the Council of Ministers, one of the highest bodies within the communist government, said in a statement on Saturday that those responsible for promoting the fragrances would be disciplined for their “grave mistake”.”
Looks like nothing can cover the stench of decay...
However, someone didn't come up smelling of roses...
Mario Valdes, Labiofam's director of research and development said they were planned for commercial launch in the first quarter of next year. The government statement did not say if Valdes was one of those disciplined. His phone went unanswered on Saturday according to Reuters.....
@ 10 ilsen
Sep 29th, 2014 - 07:39 pm - Link - Report abuse 0But calling them “Death as you like it: Fragrance of Chavez half-rotted” and “Death as you like it: WTF is Che's body” was seen as a bit of a put-off.
TMBOA, upon her death will likely have “Death as you like it: TMBOA Fragrance of Cock Breath”
I bet the Chin will buy a few hundred flasks to remind them of “The Two Yuan Whore” and the good times and BJ's they all enjoyed in the Casa Rosada.
@11
Sep 29th, 2014 - 09:11 pm - Link - Report abuse 0Cristina's fragrance, will simply be 'Poison' reminiscent of a similarly cheap and nasty 'fragrance' promoted in the 1980s. Soon went out of fashion after an initial upswell in popularity. Swiftly adopted by chavs, but eventually even discarded by them.
ho hum. .
BTW.
An excellent link by Chicureo @9.
Highly recommended reading for all those interested in Venezuelan affairs, and equally for those interested in the so-called 'left' in Latin America.
ILSEN, forgive me for I have sinned on another post. Thank any way for your kind mention. (The old Tupolev 154 scam again...they never stop falling for it...)
Sep 29th, 2014 - 09:16 pm - Link - Report abuse 0Chicureo.
Sep 29th, 2014 - 10:02 pm - Link - Report abuse 0De nada.
as for the Tupelov scam, I think I saw it before. ..
;-)
How ever, Aerolinas Argentinos is running out of options. Maybe they will have to consider it?
:)
ILSEN,
Sep 30th, 2014 - 03:30 am - Link - Report abuse 0Aerolíneas Argentinas is losing more than a million dollars a day.
They are leasing all their aircraft...
Chicureo
Sep 30th, 2014 - 06:21 am - Link - Report abuse 0is that a nose dive, or a tailspin?
Surely Argentina's currency couldn't get this bad?
Sep 30th, 2014 - 08:58 pm - Link - Report abuse 0*shrug*
Sep 30th, 2014 - 10:00 pm - Link - Report abuse 0Who knows? TMBOA seems to know no boundaries. .. Multinationals are leaving, she's printing money, price controls are coming in, import restrictions in place, dollar parallelo is the real currency, expropriation, companies 'given' to the 'workers'.
All so depressingly familiar. Especially since I have witnessed this in Venezuela. Don't forget, Argentina doesn't have a massive oil resource to soften the landing. The crunch in Argentina is potentially horrifying.
Yeah it's funny, because the basket cases in South America used to be Peru and Colombia with their armed conflicts.
Sep 30th, 2014 - 11:52 pm - Link - Report abuse 0Now the basket cases are Argentina and Venezuela and it is entirely self inflicted by the government.
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