The Guatemala-to- Guatepeor tunnel
Is a fourth exchange rate on its way? El Nacional’s very own economics Lois Lane, Blanca Vera Azaf, seems to think so. The money quote:
“The proposal – which awaits President Nicolás Maduro’s approval – says that people will have to buy dollars through a separate auction mechanism, a different version of the SICAD system currently in place. This new system has not been designed yet, but it would start operating in 2014.
Cadivi would continue selling dollars at a subsidized rate of BsF 6.3 per dollar, but restricted to 24 privileged economic sectors. Natural persons (i.e., not companies) would have to purchase currency at a higher rate.
As for travelers, the proposal says they would obtain dollars via auctions through the yet-to-be-designed mechanism: they would receive their dollars at the rate determined by the system via their credit cards. It is not yet known if the caps on the amount of dollars people can buy would remain in place.”
A quick note: the nature of the problem with Cadivi is not the 6.3 rate, it’s the arbitrary value that dollars get, and the discretionary policies through which they decide who gets what and when.
If you start giving tourists dollars at, say, BsF 14 per buck, the black market will eventually shoot up to BsF 75 and you will find yourself in the same place: with a severely distorted market rife with opportunities to make a quick buck.
The more tiers of prices at which you sell dollars, the more opportunities to get money for nothing. The only thing this new “mechanism” does is change the identities of the players benefitting from these massive distortions.
The only way out of this mess is to free the exchange market, but that is something the government simply refuses to do. Instead, it continues coming up with lame attempts to try and save an unsaveable situation.
Caracas Chronicles 
Well, eventually they will have to free the exchange market. Party is over folks, now for the first time in many years both government and pseudo-entrepreneurs will have to do something they have been trying to avoid for a long, long time: work as everybody does in the real world.
The adjustment is going be rough and harsh: poverty and soaring inflation will strike Venezuelans with all its force (even more) and is very likely that social tension increases even more (meaning that “el peo se va a prender”)
I hope that chavistas and pseudo-entrepreneurs are very proud of themselves, they managed to turn a developing country into a messy joke with a few decades to come before start seeing any real and tangible improvement in the general situation even if we start doing things properly today.
No importa pana… ahora tenemos patria!!
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Escualidos like you always predict disasters in the future – this or that “will” happen and it never does.
There will be no freeing up of the exchange rate for the reasons I explain in the post below.
How do you know that poverty will soar and there will be social unrest? This has not happened with the economic sabotaje and soaring prices since November 2012 so what should it happen now?
In any case – keep on dreaming as you see your speculator friends and hoarders locked away when the Enabling Laws are enacted.
What do you eamn by “doing things properly today”? You mean like in the EU and the complete debt disaster tehy are in with the eurozone having a debt to GDO ratio overall of 85%? I am sure that thsi would enhance Venezuela’s prospects copying neoliberalism and becoming slaves of the internatal banksters.
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Bizarrely, the current situation is not a disaster for you. If we start at this point Arturo, as with all of you, is going to be difficult to have any sort of serious conversation/exchange of ideas.
How do I know this things will happen? Easy, when a country is (mis) managed by people who lacks preparation but above all common sense that is usually the result. Look at us: standing above one of major oil reserves in the world and we still struggle to have the minimum acceptable on offer for our citizens. Shame in all us, but specially shame in those who although they spent 40 years preparing to be government, once they made it, put all their efforts in destroying what was built during 40 years of democracy to be replaced for nothing more than the will of an ill-prepared but charismatic inept colonel-lieutenant.
As I said many years ago to a friend of mine: speaking to a chavista is like speaking to a parrot. Keep repeating what the propaganda ministry allows you to say. I’m sure you’ll receive shortly new enemies (Sam Sheppard, Raphael, who knows?) to blame about this bloody disaster from your bosses.
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Disaster is already here.
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Free the exchange market sounds too capitalistic so they wont call it that, I wonder what contrived term they’ll come up, like, “Reajustamiento patriotico del bolivar”
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If I had a nickel for every hot-tip about a new, SICAD-like-mechanism-that’s-not-SICAD we’ve heard in the last six months…
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You’d soon be getting four bolos per tip. Inflation, my friend. We can’t keep plugging your nickels into this system without dramatic impacts!
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Given that the “new, “new” mechanism for travellers is not coming until 2014, all this will do is put additional pressure on the black market. Essentially, no dollars for you, until next year for travellers, which will likely be until March or April given past experience. Do I hear 100 for the unmentionable?
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So you are saying that Cadivi dollars for travelers will be suspended for six months, right? As usual you are trying to outdo Bocagrande in the rumor stakes. There is no evidence of this except for your twisted interpretions that inevitably tirn out to be wrong.
I know I have no fans on this blog buy believe me, if you believe Octavio then you are as stupid as he is.
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If you knew how to read you will know why I say it.
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You know what? I think this is them trying to spreading rumours about the elimination of CADIVI to push-up the price of the Dollar in the black market to pay for their beloved trips to Europe, Rep. Dominicana and Las Vegas.
always remember; El Chavismo is a disease that can make thing unimaginable for the rest of us.
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Reading and inventing rumors is for fools like you.
If you had the spine to admit you were wrong for once you would be a much happier person.
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Oh yes, it is not like this Government to eliminate one mechanism and take months to reestablish it, remember Sitme? And the fraud that replaced it called Sicad has been very good at lowering the blackie rate, no? As for rumours, I also read what Miguel says in the article. In any case, I would not give preferential dollars to any of those things. Why should the Governemnt subsidize them?
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I cringe at the thought of what our intelligence would be reduced to if we decided to believe you….
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It all sounds fine to say that the solution is simply to free up the foreign exchange market and let it become a free for all. What JC does not explain to his readers is why Chavez introduced Exchange controls in January 2003.
It was the same reason why the bolívar was devalued from 4.3 to 8 after Black Friday on February 18th 1984 and why exchange controls were introduced a few years later.
The central bank was running out of dollars to sell to a public wanting to change their bolívares into dolalrs. This happened in 1984 causing Black Friday (at that moment in time external debt was around US$42 billion and GDP around US$54 billion) and the same thing happened in January 2003, when as part of the oil and economic sabotahe, the opposition coupsters were trying to buy up all the dollars in the central bank and bring the country and the government to its knees economically and socially.
This is why exchange cpontrols will not be abolished as this danger still exists. Whether or not there will be multiple exchange rates is a matter of conjecture by profesional rumor mongers such as El Nacional and traitors such as Bocagrande.
The rich’s love affair with the US dollar goes back to being conditioned to living off the renta petrolera and producing little for the country by those who control the means of production. This still continues today and even with Cadivi’s controls and bureaucracy, dollars are still being spirited out of the country and price boosted higher and higher using the parallel exchange market as an excuse.
All the efforts of the rich are aimed at looting the country – eitehr via the permuta or SITME and as far as my infomation goes, the avenues open to doing this will be firmly closed after Maduro gets the Enabling Law.
Projects under consideration are that only the state can import with 6.3 dollars leaving the free market that the private sector wants as just that, so that they can import at 45, 50, 55 etc but not with dollars from the state. The effect of this will be to destroy the private importing sector except for certain luxury ítems as few people will be able to buy these goods and force the private sector to produce in the country. For example, if there is a shortage of footwear someone will son start manufacturing more as there will be a huge gap in the market.
There could be an auction mechanism for travelers but that is not yet clear so far until the finger printing machines have been proved as infalible at immigration int he airports.
The error in JC’s thinking about the Venezuelan bond market and the exchange rate mechanisms is that this will continue ad infinitum so that he and people like him can make a quick buck withoout doing anything. This will all change next year as the Habilitante laws and jail terms for hoarders and speculators start to bite.
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I know I shouldn’t be even wasting my time… but Arturo; come on man! I assume that when you say ” the rich” you are referring to the government who receives and (mis) manage the foreign currency in Venezuela? Blaming others of our own faults has become something amazing about Venezuelan society: the gringos, la oligarquia amarilla, los conquistadores, la gente del cafetal. Jeez man! Assume this whole situation is because we’ve in hands (or feet…) of probably one of the worst democratically elected governments in the history of the humanity (yes, in the WHOLE history)
But, of course, that’s a lie. It’s all a CIA plan in conjunction with the free masons… whatever man.
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Oh, so thsi is the worst government in history? I don’t think so now that poverty has declined from well over 50% to 20% and hunger has been defeated according to FAO.
No – the disaster is elsewhere a capítalism is imploding as it contains the “sedes of its own destruction” as Carlos Marx said.
If this is the worst government in history then read my latest article and look at the charts that Toro and JC always hide – http://axisoflogic.com/artman/publish/Article_66099.shtml
You really should stop repeating bullshit when you have no idea of the facts or how to contextualize them.
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Look in the mirror and repeat the last sentence of your post: You really should stop repeating bullshit when you have no idea of the facts or how to contextualize them
Sadly, my brainwashed friend, I do have an idea. I experienced the failed policies of the worst and most inept government on earth. Not even in Somaliland the “authorities” behaves in such an erratic and pathetic way as it does in Venezuela.
The FAO? According to them even in Cuba poverty has declined. Have you ever been there? Because I’ve been there, and believe me: I’ve have never seen such poverty levels as I did in Cuba; well, you can also find that in the socialist republic (formerly Venezuela). I recommend you, that if you are in Venezuela make this very simple exercise: spend BS 100 in whatever you want. Then try to buy the same in 6 months to see I you can. The difference in the price Arturo, is the price we pay for having such a joke of government.
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No need to wait 6 months. Try 6 weeks…
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Wow… So let me get this straight… so its okay, for chavez to put a restriction on it because people are seeing inflation and want to protect their earnings.. because if people keep trying to protect their assets that is a bad thing, since its taking dollars from the government which is bad for a society as a whole…right? am i getting that from Arturo’s response here? i mean.. inflation is just a tax on the people anyways, its just forced upon them, so you want to vilify them for trying to protect their assets?
Another thing I wanted to understand from reading his response.. so what he is saying that, all people in venezuela are deliberately buying USD from sitme, cadivi, sicad to essentially loot the country (on purpose)…??!??!? now… let me understand this.. Im venezuelan, I got bolivares fuertes, and I should hold on to this junk paper instead of getting something that doesnt lose as much value each week? oh.. right these people that hold this junk paper are using it to buy things.. as fast as possible because they want to create shortages to destroy the government? so everything is all about destroying the government? so.. what has the government done to help the people that hold this junk paper? other than subsidize a number of basic products.. so how is offering free gasoline any different? it essentially loots the country does it not? so i dont blame normal venezuelans to go buy everything in sight, cause at the end of the day, the price will be up in a week or 2 weeks or hell 2 days?
So what you are saying when it comes to the private sectors, you don’t care about them, because they are the rich… and that the purpose of this is to rid the private sector… (even though they are Venezuelan citizens) they can import at the 55bsf rate and sell their shoes at whatever cost… even though say a pair of shoes cost 25 bucks in the states, they buy it at 1375Bsf, and sell it in venezuela for 2750Bsf.. (gotta make profit man, and on top of inflation, profit better be able to keep up… so that it doesnt get eaten by inflation.. and since shoes are costing 2750Bsf… then someone in venezuela will start producing shoes rather than import…. you know there are much better means of doing this, let’s look at brazil.. anything imported has a tariff that is so FREAKING high, that it forces things to be produced domestically.. why bother allowing inflation, why not just tax the hell out of all imports.. (i mean.. technically there is a tax already, it just doesnt go to government it goes to military/or someone in government, because we all know you gotta pay someone off somehow.. to even get everything imported in without trouble..) my point is, use tariff as a tool to keep things locally made… like food for example, there is absolutely no reason why venezuela cannot sustain themselves… but when u fix prices, no farmer would produce this if it costs more for inputs to produce then to sell.. so what Arturo is saying, people shouldnt be producing for profit… well fine.. but someone has to eat that cost, and it sure wont be the farmer… so it will have to be the government, hence they need to nationalize things, cause at the end.. the government eats those costs.. just like gasoline..
look, im venezuelan, and I love the country, but at the same time I want to understand why chavistas really think this stuff works…. i mean really… , I love having an honest conversation on what the pros and cons are… but honestly everything I’ve read about chavistas at the end.. im just getting less and less convinced that it is any good at all.. i tried to give it some props.. i mean, certain barrios had been ignored throughout every other government, but this one did stuff to help them.. thats great, but everything else is going to crap.. so whats the point?!? the thing is, in the history of venezuela, the time it was doing good was when oil was high and you had government that actually invested in infrastructure… created jobs, created a middle class… (unfortunately it was during a dictatorship.. ) the key is to not create a super wealthy class, the key is to grow the middle class… but in that environment with arbitrages everywhere… its just not going to happen.. (this also should be what the states are doing, but tahts another topic)
but yeah, i am trying to give some credit to chavista lovers, but man.. i cant see any of their projects being sustainable without the government eating the costs… or the people of venezuela eating those costs.. and essentially putting it on their children’s backs…
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You forget that the main reason people had to buy US$ as crazy in 2003 was to protect the value of their money, not to bring Chavez down. Protecting your assets is something natural, it doesn’t take to be a coupist to do that.
An the reason why US$ are so attractive compared with “strong” bolivars remains the same in 2013.
I’ve heard that paranoia is one of the side effects of drug abuse…
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What laws currently on the books are not enough to go after “hoarders and speculators” now?
Why does Saman decide not to go after buhoneros, who sell all the goods not available in stores for 3 times the price?
Is it not telling that most of the goods buhoneros sell are all regulated at prices that are over cost of production?
Is it not telling that we have a Labor Law that forces employers to artificially maintain workers onthe job with no need?
You state the private sector should produce. With what? With whom?
The government you so love takes over companies and runs them into the ground, so what, should we do the same?
Then you prate about how “the corrupt” are stealing. Look to your own party, Artuerto, that’s where all the corrupt are.
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Have we ever figured out definitively if Arturo, et al, are simple “useful idiots” or if they somehow get paid for this tripe?
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This is a one sided loop-holish way out of the story. But I will spend a few mins feeding the Troll. The reason why there is a demand for dollars is because I have bolivares and no way to save or “invest”. Forget the uberly rich for a minute.
What options do I have as middle class or even lower classes? investment funds (no), bank account (no), real estate (no), cars (not any more). I have no way to protect my hard earned money. Lower classes just buy because they don’t know if there will be anything and if there is it will be more expensive… all of this because everyone has bolivares but nothing to do with them.
If I worked hard for my money (Bolivares in this case), why shouldn’t I get anything I want with it? including saving or investing… I’m not asking for the government to subsidize my travels, or my purchases… in fact, almost everyone in this blog is against that. My work has a price and I make sure that price is paid, the government can’t arbitrarily by decree tell me how much my work is worth – directly or indirectly -. If my work is worth nothing for no one, I will starve.
If I earned my bolivares and I want to save some I can’t because the government through money printing makes it worthless… am I speculating?
The most interesting statement from your comment was “the opposition coupsters were trying to buy up all the dollars in the central bank and bring the country and the government to its knees economically and socially”. My reply is: In a sound economy it’s impossible to buy all the dollars… In its current form, we could buy all the dollars and have bolivares to spare.
This is a story I made up to explain to my gringo friends what happens in Vzla. It needs polishing… but hopefully it will help the Troll and other readers understand what is being done and that there is no oligarchy conspiring to buy all the dollars.
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It’s like a mom telling your children they cant manage real money ($) – and you don’t have much money to spare anyway, partly because you spend too much in girls, especially chinese and russian-.
Therefore, you create a fake currency to pay your kids for house chores (BsF). Instead of paying for some outsider 1$/h to clean you decide to give your kids 6.3BsF/h which they can exchange for $1 in the real world (the equivalent of an ice cream cone), but only through dad PDVSA/CADIVI.
One of your kids works hard and makes enough for 10 ice creams but you tell him I can’t give you any $ for ice cream (since you have no job and only $5 in the account), I may give you $1 a month for the bus to visit your grandma though and another $0.50 for a candy. You also tell him: what you need to do is “talk to your brother and make ice cream”. Only that you don’t give our son $ to buy milk, or sugar, or fruits-again because dad spent it in chinese, nicaraguan, bolivian, cuban, and russian girls-.
Your favorite chavista son finds the arbitrage opportunity and convinces you (dad) to exchange BsF for $ in order to go to the supermarket and but stuff to make ice cream, and tells the brother: “since you can’t do anything with your 63 BsF I tell you what we’ll do, give me the money and I’ll convince (dad) to let me get the $ we need to make ice cream”. He then convinces Dad to give him $2 dollars (at 6.3BsF from your paltry $5 savings account), not for ice cream, but to buy staples to make ice cream with his brother for all the people in the house. He then in turn buys the ice cream already made for $1 and gives it to the brother. By doing that he keeps the extra $1 he asked you (arturo) for and the 50.4 extra BsF for future arbitrage opportunities. The worst part is, his brother is the one doing all the chores… but since he can’t go buy ice cream or get the milk and sugar… those BsF end up being worthless to him. He only needs 9.45 BsF to go to grandma and get candy (or save $0.50). As long as he REALLY wants ice cream and the dad screws up home finances the brother can profit.
No matter how much you control the brother there are a few inescapable realities: 1) you only have $5 in your account… therefore you can’t exchange from your hardworking son all the BsF you gave him. 2) You thought a chore like making your bed was worth worth $1 or 6.3BsF. However, if you pay a chinese or vietnamese maid for the same $1 she will come, make the bed, and even cook for you, the trick is… she won’t take BsF, only $1. 3) You are exploiting your hard working son by telling him that his 10 hours of work are 63 BsF or $10 but you only have $5… and he can’t get ice cream anyway but through the brother who does not work but is able to exchange BsF for $. 4) Depending on who you ask, some of your neighbors or other sons may think you are working with your favorite son to exploit your poor son into working 10 hours while the two of you (father and brother) do nothing in the house. 5) Your sons have an incentive to go visit grandma or any other relative because at least here you get your $0.50 worth of candy even when you need to spend $1 on the bus (there are not enough bus passes to go around now, and the non working brother has plenty BsF to spare from his arbitrage opportunity). Furthermore, you have to remember you only have $5 in your savings account therefore you just wasted $1 on the bus so your kid could get $0.50 worth of candy all because you don’t want to give a full $1 for ice cream. Your kid will even travel one month and not buy candy so next month he can have $1 and buy ice cream… only that he spent $2 from your bank account in the bus. -If only you would have let him buy ice cream in the first place-. 5) If you have many more kids… they will compete with their BsF to go to grandma (inflation) or eventually just do nothing because no one wants to do the chores just to wait 6 months to get $1.50 for a bus pass and candy – remember you only have $5 in your account, you can’t send them all to grandma or buy them all ice cream-. 6) You just fooled your children into thinking you (and they) are not poor because they assume that if you have 63BsF to pay for the chores, you have $10 in your account for them to spend. It turns out your children are poor but they don’t think they are because they work hard and think their 63BsF are worth $10 in ice cream – again, you don’t have the $10-.
Who is responsible for the exploitation of the one poor brother, the other brother? or the father who spends his money in girls and sets arbitrary currencies to pay for what the poor son does that cannot be used in the supermarket. Remember the father prefers to waste money on the bus… as long as the kid doesn’t get $1 cash or the equivalent in ice cream. So much for socialism.
-sorry for the long post- I’m sure Quico would have a blast editing it into something much better but the main points are there.
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As one additional comment: Every time all the kids know the dad is going on a spending binge looking for girls…or that he is unemployed… they flock to exchange their BsF for real $ otherwise… no one will have $ to visit grandma, candy, or ice cream.
If dad had enough $ in his savings account… or didn’t fool their children into thinking they are rich because they have many BsF. none of what you are describing would happen.
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Marmota,
“…the government can’t arbitrarily by decree tell me how much my work is worth…”
But that is exactly what they do. And that is exactly at the root of the evil in this system. Because when the government decides how much your work is worth, than you are a slave.
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Arturo, may I ask for clarification on your example? You state that the effect is to destroy the ability of the private importing sector, and then you state that the private sector will (as an example) begin manufacturing footwear to fill the gap in the market. A few questions:
1. When did shoes become a luxury item? Seems to me that they are a pretty basic item of clothing.
2. Where will the machinary required to manufacture the shoes come from? I don’t think that equipment is readily available in Venezuela and would have to be imported.
3. Who imports the equipment? Clearly it can’t be the private sector, since their ability to import has been destroyed.
4. Who is going to supply the necessary materials to the shoe manufacturer? He/she will need high quality leather, thread, etc., etc. Are these raw materials available in VZ or will they have to be imported?
5. How would the private sector import the necessary supplies without ready access to dollars?
Personally, I don’t think the private sector can function in a system like you describe.
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There will be artisan shoe makers in the style of medieval Europe. No need for foreign machines! They will raise their own cattle, tan the leather and sew the shoes together using indigenous materials. If the Venezuelan private sector were truly patriotic, they would find a way to produce without any foreign inputs whatsoever.
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And if they attempt to purchase dollars on the black market to import sewing needles or modern glue, they will arrested for trying to drive up the parallel rate!
Chicken bones will suffice for needles and horse hooves shall be used to make glue!
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comfy!
Speaking of bison hair pads … so what happened to that artisanal project the chavistas were touting, to make sanitary napkins out of corn husks, or whatever?
Maybe Arturo could update our data. With credible sources, if that were even remotely possible.
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Excellent! So you are suggesting that Arturo wants Venezuela to revert to a medieval European economic system? Boy o boy, does that feudal system of lords and serfs clash with the stated goals of “21st Century” socialism! Although the feudal system does appear to be consistent with the program implemented by Chavez and his accolytes.
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Arturo: “It all sounds fine to say that the solution is simply to free up the foreign exchange market and let it become a free for all”
No, Arturo, the communication breakdown comes from our seeing a free exchange rate equivalent to a thermometer measuring temperature such that any exchange control seems to us as trying to pretend there’s no fever just because the numbers on the thermometer are not allowed to go further up. To you, it seems, anyone wanting dollars is the problem, causing the fever; to us, controlling the exchange rate makes people want dollars more, causing higher fever. Either way, controlling the rate prevents either side from knowing how high the base fever is.
You could try what parents do with their children and candy, prohibit the candy. The problem with that method is that the government is not a parent, nor we children, nor the dollar candy…
—
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This spells the oligarchization of travel , going back to the good old days where only the rich could enjoy the pleasure of visiting foreign countries or the benefits of studying abroad or of buying imported stuff , the rich ( and the bolibourgoise) are unaffected by these measures , they long ago adopted the us$ as the currency of choice , only the middle classes ( which now have the country for a prison) will see their horizons narrowed and their opportunity for seeing other lands quashed . Of course all this is a revolutionaly necessity , wasnt necessary for the 1st 15 years of the revolution , it becomes necessary now because of the ‘economic war’ which the imperial powers and their local lackeys are waging against the invincible children of the dear defunct leader , the self adoring demigod who endevoured so hard to fill the peoples piñata the best of goodies and which his succesors are now replacing with the measliest of trinkets !! .
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“The only way out of this mess is to free the exchange market, but that is something the government simply refuses to do. Instead, it continues coming up with lame attempts to try and save an unsaveable situation.”
The government (aka enchufados) are making a killing with this “unsaveable” situation. They become richer everyday while the rest of venezuela becomes poorer. I think the question is if this time bomb will explode in their hands or in our hands? Pareciera que estan raspando la olla…
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BTW, El Nacional’s piratería knows few limits.
The screaming headline they slapped on Blanca’s article is refuted by its own sub-headline!!
Did you catch that? The headline presents as a done-deal what the sub-head tells us is an internal working paper!!
I guess licking Derwick’s balls takes up so much of their time they have no resources left over to make sure that, y’know, their A1-above-the-fold headline doesn’t contradict its own sub-head…
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(Lo otro es que a Blanca le queda bello citar a Bank of America en el recuadro inferior derecho después de habernos informado en Octubre 2012 que proyectaban victoria de Chavez por 10 puntos sólo para especular con los bonos 2027…)
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Besides, its misleading, even if the working paper is approved, travelers will probably get dolars at 10 Bs and the arbitrage and raspadera will remain
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The black market feeds on the incapacity of the govt controlled mechanisms and markets to furnish the demand for dollars . This means that the govts policy to favour govt imports with cheap dollars and private demand through controlled auctions ( with more expensive dolalrs) will not do away with the black market if the amount of dollars which is distributed or auctioned isnt enough to meed private demand . By raising the flow of dollars outside the black market however it will probably lower the price of the black mket currency , making it more affordable while allowing the govt more bs to fund its programs and expenses . this may be more rational than what until now has been the case although far from represeenting a solution to the root problem which is the insufficiency of govt provided dollars to meed private demand . Maybe the govt ought to allow dollars not brought in by oil exports to be sold in a free market at whatever price it will fetch as a recognition that it cant supply all the demand and that its failure to do so makes it fair for private dollar suppliers to sattisfy the dollar demand using an open market system .
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you gotta love the stupidity of some people http://aporrea.org/actualidad/a175389.html
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on the topic of stupidity, Samán just discovered that “…hay un fenómeno en el que pasajeros que vienen del extranjero cambian dólares en el mercado paralelo y con ese dinero compran el pasaje en Venezuela y le sale a la mitad de lo que le costaría desde su país de origen.”
of course, this is the fault of people who see an opportunity for buying $20 bills at a discount rate of $5 and not the government whose improvised economic policy has caused this distortion… it’s like Pablo Escobar saying that the war on drugs is to be blamed solely on small-time dealers and users, NEVER himself or his peeps.
now, what will Eddie’s next startling discovery be?
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link to Eddie Samán’s commentas > http://www.noticias24.com/venezuela/noticia/201066/eduardo-saman-los-buhoneros-son-la-punta-del-iceberg-del-problema-de-desabastecimiento/
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The government, to rid themselves of blame will obiously blame the oligarchs and the parasitic burgeiose (that’s the new insult) for their decision to eliminate Cadivi. Fortunately, You don’t need to be a PHD to understand that the fuckin’ problem is the exchange control itself and the government’s stubornness to keep it which only means that yes, less points for the band of criminals and crooks that rule the nation.
… Which is why you may only conclude that the Arturos of this world are either reallyyy dumb or are on the chavista payroll.
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..On the other hand it’s incredible the number of educated people I know that are already complaining about cadivi’s elimination when they know it’s a terrible inefficiencythat has caused more harm than good. The opposition wants Chavismo to exit but they are not willing to suffer the consequences of the economic downturn and hardships it will cause.
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Arturo for the Nobel Price in new and improved Economics of the 21st century.
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Will probably be bwck to get more. Thanks
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I put things off a whole lot aand nedver manage to
get anything done.
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Disselkamp compared the increase of smart scheduling for the lean inventory trend in manufacturing, through which factories depend upon regular delivery of materials inexpensive rather than filling large warehouses with supplies. Lean inventory allows manufacturers to slice costs by transferring financial risk onto suppliers. In lean scheduling, Disselkamp said, risk is employed inside worker.
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