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Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%

 
Anonymous Coward
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United States
02/08/2013 07:58 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
[Average Venezuelan] So whats 47% of 0? [Average venzuelan]
s. d. butler

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02/08/2013 07:58 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
That Fat pig tried to help the poor
And he just made them Poorer
 Quoting: What if ?


They always do.
Anonymous Coward
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02/08/2013 08:20 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
what? you really expect small countries to compete with the chaos organized by the families that created digital wealth?


same thing is coming here. what you going to say then?

they were the first. I am pretty damn sure there will be another. then another. then a slew of countries trying to salvage something of what is left.


this was all planned a few decades ago. why do you think they tried to have every single western style democracy disarmed BY the year 2000?

they didn't want hundreds of millions of pissed off AND armed peasants running around.

and they were success world wide except for N. America.
Anonymous Coward
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Argentina
02/08/2013 08:27 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
[link to www.zerohedge.com]


While the rest of the developed world is scrambling here and there, politely prodding its central bankers to destroy their relative currencies, all the while naming said devaluation assorted names, "quantitative easing" being the most popular, here comes Venezuela and shows the banana republics of the developed world how it's done:

VENEZUELA DEVALUES
VENEZUELA DEVALUES FROM 4.30 TO 6.30 BOLIVARS
VENEZUELA NEW CURRENCY BODY TO MANAGE DOLLAR INFLOWS
CARACAS CONSUMER PRICES ROSE 3.3% IN JAN.
And that, ladies and gents of Caracas, is how you just lost 46% of your purchasing power, unless of course your money was in gold and silver, which just jumped by about 50%. Coming soon to every "developed" world banana republic near you.
 Quoting: its on like donkey kong 33956026


rumor has it the Argentine peso will go from 7 to 15, at least on the black market, which means it may go from 5 to 9 on the white market

and proce controls are removed April 1st, so shit will get crazy then when prices rocket...

fortunately, I have lots of bitcoins (REAL currency, and better than gold, baby! ! :)
Anonymous Coward
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United States
02/08/2013 08:32 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
[link to hotbedinfo.com]

Who's next.....AMERICA!!?
 Quoting: Anonymous Coward 11470577



 Quoting: GFX guy


Holy Crap! There it is....
Anonymous Coward
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Canada
02/08/2013 08:40 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
If a currency collapses...It's because the inflow of US Dollars bidding it up...are being stopped.
Anonymous Coward
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United States
02/08/2013 08:40 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
good...wish this collapse would happen tomorrow but it's gonna be another few years. It's heating up though.
Anonymous Coward
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United States
02/08/2013 08:43 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
[link to www.zerohedge.com]


While the rest of the developed world is scrambling here and there, politely prodding its central bankers to destroy their relative currencies, all the while naming said devaluation assorted names, "quantitative easing" being the most popular, here comes Venezuela and shows the banana republics of the developed world how it's done:

VENEZUELA DEVALUES
VENEZUELA DEVALUES FROM 4.30 TO 6.30 BOLIVARS
VENEZUELA NEW CURRENCY BODY TO MANAGE DOLLAR INFLOWS
CARACAS CONSUMER PRICES ROSE 3.3% IN JAN.
And that, ladies and gents of Caracas, is how you just lost 46% of your purchasing power, unless of course your money was in gold and silver, which just jumped by about 50%. Coming soon to every "developed" world banana republic near you.
 Quoting: its on like donkey kong 33956026


Oh yeah think it aint comin here every solution bama comes up with is raising taxes the rich cant pay it all sooner or latwer its gonna come down ta the middle class id say after thr dems win big in 2014.
Anonymous Coward
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United States
02/08/2013 08:44 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
good...wish this collapse would happen tomorrow but it's gonna be another few years. It's heating up though.
 Quoting: Anonymous Coward 1707881


Who knows, another Lehman style blow up sets off the derivatives time bomb and (((( KABOOM ))))

dynamite
Anonymous Coward
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United States
02/08/2013 08:46 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
next stop the japanese, then chinese....
 Quoting: Anonymous Coward 12064276


Chinese did it Tuesday night with a $63 billion dollar injection.

China's short-term lending
rates tumbled on Tuesday after the central bank injected a
single-day record amount of cash into the banking system in its
regular open market operations, helping ease a squeeze caused by
corporate tax payments.
The weighted average seven-day bond repurchase rate
lost 105 basis points to 3.2684 percent by midday
from a five-week high of 4.3169 percent at the close on Monday.
The 14-day repo rate fell to 4.7677 percent
from 4.7939 percent, and the overnight one-day repo rate
plunged to 3.0782 percent from 4.4900 percent.
The People's Bank of China (PBOC) injected 395 billion yuan
($63 billion) into the banking system through seven- and 28-day
reverse bond repurchase agreements on Tuesday.
Anonymous Coward
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United States
02/08/2013 08:49 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
Is this why they have thrown employment and the economy aside (never hear anything from DC about it anymore) and they now a feverishly trying to take they guns >?

Talk about an all out orgy to try and take away the guns.

Sheesh !
Anonymous Coward
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United States
02/08/2013 08:55 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
So, the lesson today girls & boys is always have "PHYSICAL", not paper .
Anonymous Coward
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United States
02/08/2013 08:56 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
Would someone please explain, in laymans terms, what the significance and ramifications of doing this are, and why this is likely to precipitate a currency war? Thanks in advance.
 Quoting: Anonymous Coward 26078303


Countries devalue their currency to either make their national debt easier to pay off (print up currency) or to try and make their exports cheaper. Problem is, once one country does it to make their exports cheaper, other countries do it too to compete. Eventually it turns into a beggar they neighbor scenario where everyone tries to cheapen their currencies but everything you buy (food, energy, housing) explodes in price.

Anytime you add currency to the economy (printing) without a corresponding increase in productivity you have more currency sloshing around chasing the same number of goods and services. Inflation is the same thing, but to this point they've all tried to inflate just enough to keep the increase in costs low or within tolerance. Once a currency war breaks out, they won't be able to control the devaluations.

Read up on Weimar Germany and learn about hyperinflation.

.
Mrbillybadass

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United States
02/08/2013 09:16 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
good...wish this collapse would happen tomorrow but it's gonna be another few years. It's heating up though.
 Quoting: Anonymous Coward 1707881


Lol years, I doubt that.
Anonymous Coward
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United States
02/08/2013 09:20 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
This just an effective way from the government to kick out the aristocracy from my country, they want all the business men and professionals of european origin out. My country is ruled by monkeys and the lowest of the pleb.
 Quoting: Ricardo 32626139


Jeez you could almost describe no no no no way no way!!!!!!!
SteamrolledGobias

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United States
02/08/2013 09:22 PM

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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
good...wish this collapse would happen tomorrow but it's gonna be another few years. It's heating up though.
 Quoting: Anonymous Coward 1707881


it won't happen tomorrow but it may not require years. 3-4 months is definitely plausible
Anonymous Coward
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02/08/2013 09:25 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
I hate the thread titles on this site. At a glance, it looks as though some country actually fired a nuclear weapon. Most thread starters here are attention-seeking whores. You ruin the concept of truth and enlightenment. You're just as bad as the any money-grubbing prick. Selfish fucking shit eaters. Truth dont matter. Just draw attention.
ExoPoliChick

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Canada
02/08/2013 09:31 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
Ya once again, speaking as someone who was there in Venezuela just 48 hours ago I find it hard to understand the numbers posted in this thread or in that article. There is no description as to what those numbers refer to. 47% of what?? 4.3 Bolivars to 6.3 Bolivars as compared to what?

Google shows 4.29 Bolivar to the USD today.

I found the USD exchange to range from 16 Bolivars to 19 Bolivars as recent as 48 hours ago, depending on who was doing the exchange. Quite a bit higher that 4.29.

So I am a bit confused.
Traveler of both time and space ~~~~


Nobody told me there'd be days like these....Strange days indeed!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

"It is our innate solidarity - not some despotism of the sky - that is our source of morality and sense of decency."
~ Hitchens

"The essence of the independent mind is not in what it thinks, but how it thinks."
~ Hitchens

"A mote of dust suspended in a sunbeam."
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I LOVE science and I LOVE space but I am hugely skeptical and don't trust a word NASA says.
Anonymous Coward
User ID: 961432
United States
02/08/2013 09:33 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
I hate the thread titles on this site. At a glance, it looks as though some country actually fired a nuclear weapon. Most thread starters here are attention-seeking whores. You ruin the concept of truth and enlightenment. You're just as bad as the any money-grubbing prick. Selfish fucking shit eaters. Truth dont matter. Just draw attention.
 Quoting: Anonymous Coward 14554478


I don't know about that, the monetary policies of the current world banking system (run by the federal reserve) has caused as much harm as all the wars waged by mankind to date. Why do you think people are starving in 3rd world countries? Its because they are forced to use the dollar as their trading currency with other countries.

The more we inflate the monetary base, the more those people have to pay for food and energy. We pay about 10-15% of our wages for food, in developing nations they are now paying up to 80-90% of their wages just to eat.

I would argue that modern monetary theory (Keynesianism) is as bad if not worse than modern warfare.

.
Anonymous Coward
User ID: 961432
United States
02/08/2013 09:36 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
Ya once again, speaking as someone who was there in Venezuela just 48 hours ago I find it hard to understand the numbers posted in this thread or in that article. There is no description as to what those numbers refer to. 47% of what?? 4.3 Bolivars to 6.3 Bolivars as compared to what?

Google shows 4.29 Bolivar to the USD today.

I found the USD exchange to range from 16 Bolivars to 19 Bolivars as recent as 48 hours ago, depending on who was doing the exchange. Quite a bit higher that 4.29.

So I am a bit confused.
 Quoting: ExoPoliChick


From the linked Bloomberg article from the ZH article:

In the black market, the bolivar is trading at 18.4 per dollar, according to Lechuga Verde, a website that tracks the rate. Venezuelans use the unregulated credit market because the central bank doesn’t supply enough dollar at the official rates to meet demand.

The places you were exchanging your dollars for bolivars were most likely black marketeers.

.
Anonymous Coward
User ID: 14554478
United States
02/08/2013 09:42 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
I hate the thread titles on this site. At a glance, it looks as though some country actually fired a nuclear weapon. Most thread starters here are attention-seeking whores. You ruin the concept of truth and enlightenment. You're just as bad as the any money-grubbing prick. Selfish fucking shit eaters. Truth dont matter. Just draw attention.
 Quoting: Anonymous Coward 14554478


I don't know about that, the monetary policies of the current world banking system (run by the federal reserve) has caused as much harm as all the wars waged by mankind to date. Why do you think people are starving in 3rd world countries? Its because they are forced to use the dollar as their trading currency with other countries.

The more we inflate the monetary base, the more those people have to pay for food and energy. We pay about 10-15% of our wages for food, in developing nations they are now paying up to 80-90% of their wages just to eat.

I would argue that modern monetary theory (Keynesianism) is as bad if not worse than modern warfare.

.
 Quoting: Anonymous Coward 961432


I'm not arguing your analogy. Just arguing that many thread starters here care not about truth but care about drawing attention to their posts, whether worthwhile, truthful or not. Even in a forum where truth should be of paramount importance, selfish interests often get most the attention.
pool
Netizen Ribbonmind

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United States
02/08/2013 09:43 PM

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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
Sheesh, got dirt?
Thread: PAGE 1 UPDATES: Countries with Ebola~~ Suspects, Monitored, Outbreaks, Transfers, Denied, Maps and Negatives~COMPANY EXIT LIST

"The earth is mother of us all, for she is just; but you, because you are unjust have pretended that she is your mother alone; and if you do not stop, I will not permit you to remain upon her."

[link to www.livius.org]
Starknight

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Venezuela
02/08/2013 09:46 PM

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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
You people actually believe that this is a sign of Venezuelan strength...
 Quoting: Anonymous Coward 589518


This.

Hugo and Obama belong in the same club, but the show must go on....
1 John 1–3._ 1Beloved, do not believe every spirit, but test the spirits, whether they are of God; because many false prophets have gone out into the world. 2By this you know the Spirit of God: Every spirit that confesses that Jesus Christ has come in the flesh is of God, 3and every spirit that does not confess that Jesus Christ has come in the flesh is not of God.

@Starknight921
Revo/elation

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United States
02/08/2013 09:49 PM

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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
This just an effective way from the government to kick out the aristocracy from my country, they want all the business men and professionals of european origin out. My country is ruled by monkeys and the lowest of the pleb.
 Quoting: Ricardo 32626139


funny!
Anonymous Coward
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United States
02/08/2013 09:50 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
This means more people will try to get into the US to work to send money back home to these countries.

On top of this, the IRS gives massive tax refunds to illegal aliens. Many cases of outright fraud. They claim they can not catch them. They also claim "this is just the way it is. Juan says he has 47 kids, so he must have 47 kids."

But if joe schmoe fails to report $20 worth of interest on a savings account, they bring the hammer down.
TraderRob

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02/08/2013 09:54 PM

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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
next stop the japanese, then chinese....
 Quoting: Anonymous Coward 12064276


don't worry usa guys u will face more than only 47%
just look at gas prices and cost of living, then look at oboma and your nice pile of debt hahahaaaaaaahaaaaa

pigchef
 Quoting: Anonymous Coward 33969521


No worries.... we already are pulling our Aircraft carriers... we don't even have enough to refuel one of them (see drudge)...

That means, soon we won't be able to help defend you sorry asses over there... hahahahaaaaaaahaaaaa....
Anonymous Coward
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United States
02/08/2013 10:00 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
Would someone please explain, in laymans terms, what the significance and ramifications of doing this are, and why this is likely to precipitate a currency war? Thanks in advance.
 Quoting: Anonymous Coward 26078303


Countries devalue their currency to either make their national debt easier to pay off (print up currency) or to try and make their exports cheaper. Problem is, once one country does it to make their exports cheaper, other countries do it too to compete. Eventually it turns into a beggar they neighbor scenario where everyone tries to cheapen their currencies but everything you buy (food, energy, housing) explodes in price.

Anytime you add currency to the economy (printing) without a corresponding increase in productivity you have more currency sloshing around chasing the same number of goods and services. Inflation is the same thing, but to this point they've all tried to inflate just enough to keep the increase in costs low or within tolerance. Once a currency war breaks out, they won't be able to control the devaluations.

Read up on Weimar Germany and learn about hyperinflation.

.
 Quoting: Anonymous Coward 961432


well with the bolivar devalued might that translate to cheaper gas price in us venes is our big customer?
Anonymous Coward
User ID: 4135612
United States
02/08/2013 10:11 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
next stop the japanese, then chinese....
 Quoting: Anonymous Coward 12064276


don't worry usa guys u will face more than only 47%
just look at gas prices and cost of living, then look at oboma and your nice pile of debt hahahaaaaaaahaaaaa

pigchef
 Quoting: Anonymous Coward 33969521


You do understand that some of this debt was from rebuilding your homeland. Besides that do you realize that the entire world would collapse into chaos without American aid. Laugh it up son but if we fall so shall you.
s. d. butler

User ID: 974819
United States
02/08/2013 10:25 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
Ya once again, speaking as someone who was there in Venezuela just 48 hours ago I find it hard to understand the numbers posted in this thread or in that article. There is no description as to what those numbers refer to. 47% of what?? 4.3 Bolivars to 6.3 Bolivars as compared to what?

Google shows 4.29 Bolivar to the USD today.

I found the USD exchange to range from 16 Bolivars to 19 Bolivars as recent as 48 hours ago, depending on who was doing the exchange. Quite a bit higher that 4.29.

So I am a bit confused.
 Quoting: ExoPoliChick


real market rate vs official rate
Anonymous Coward
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United States
02/08/2013 10:25 PM
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Re: Venezuela fires 1st nuke in currency war ....DEVALUES CURRENCY 47%
This will not matter at the end of the day.

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