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Given that there are general threads on Japan, Brazil, Greece, China , Italy, Germany and Australia, it's only fair to have a Venezuela general thread.

Venezuela may not be a significant economy thread compared to the aforementioned, but it's not insignificant. An oil rich nation with such levels of poverty is unheard of. Venezuela is probably a major historical event that demonstrates the world how not to run an economy.

The middle class of Venezuela has been decimated, the poor are waking up (some anyways, there's always the gib's me that crowd). The rich left long ago.

Some relevant videos:

http://www.housepricecrash.co.uk/forum/index.php?/topic/101429-australia-faces-its-demons/

Venezuelan President Nicolas Maduro announced a sweeping crackdown on Saturday under a new emergency decree, ordering authorities to seize factories "paralysed by the bourgeoisie," and to arrest their owners. http://www.telegraph.co.uk/news/2016/05/14/venezuelan-president-nicolas-maduro-orders-crackdown-as-countrys/

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20160516-VENEZUELA-slide-6J79-master768.

Hospital wards have become crucibles where the forces tearing apart Venezuela have converged. Gloves and soap have vanished from some hospitals. Cancer medicines are often found only on the black market. There is so little electricity that the government works only two days a week to save what energy is left.

At the University of the Andes Hospital in the mountain city of Mérida, there was not enough water to wash blood from the operating table. Doctors preparing for surgery cleaned their hands with bottles of seltzer water.

Looks a bit better than some NHS hospitals.

edit: source: http://www.nytimes.com/2016/05/16/world/americas/dying-infants-and-no-medicine-inside-venezuelas-failing-hospitals.html?_r=0

Edited by Automotive Engineer

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20160516-VENEZUELA-slide-6J79-master768.

Looks a bit better than some NHS hospitals.

What a bizarre, unfounded, thing to say. I presume you use private healthcare to avoid the NHS which provide a 3rd world service?

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My wife will soon qualify as an NHS nurse. Let me assure everyone that they`re as waist full as ever.....can`t take chances with peoples health.

Strangely enough the biggest problem is staff shortages , many staff are now coming from the third world by which I mean Portugal, Spain and Italy.

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What a bizarre, unfounded, thing to say. I presume you use private healthcare to avoid the NHS which provide a 3rd world service?

Nah, just taking the piss. The NHS is being butchered, that much is true, maybe to generate a crisis in an a attempt to privatise it.

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My wife will soon qualify as an NHS nurse. Let me assure everyone that they`re as waist full as ever.....can`t take chances with peoples health.

Strangely enough the biggest problem is staff shortages , many staff are now coming from the third some of the richest, most well educated countries in the world by which I mean Portugal, Spain and Italy.

FTFY.

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What happened to all their gold, again? Didn't Goldman buy some of it?

http://www.zerohedge.com/news/2016-02-07/venezuela-prepares-liquidate-its-remaining-gold-holdings-pay-coming-debt-maturities

http://www.zerohedge.com/news/2016-02-23/venezuelas-gold-liquidation-begins-maduro-quietly-exports-36-tonnes-gold-switzerland

But before it gets there, Venezuela's president Maduro will be busy liquidating the nation's roughly $12 billion in gold reserves, which his late predecessor fought hard in 2011 to repatriate back to Caracas. Sadly that gold was never meant to stay in Venezuela after all

Meanwhile:

http://www.insightcrime.org/news-briefs/venezuela-targets-gang-leader-blamed-for-mining-massacre

and

Venezuela finds bodies of gold miners 'killed by gang'

http://www.bbc.co.uk/news/world-latin-america-35807813

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My, how brilliant socialism is

To be fair it did wonders for Goldman Sachs- and the rest of the bail out boys on wall street- for the rich at least Socialism is the way to go.

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My, how brilliant socialism is.

It is the white "Spanish" ruling class business and land owners in collusion with the USA undermining the economy to recover control from the indigenous and mixed race elected government.Same thing happened in the UK in the 1970's.

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The Choice For Venezuela Is Stark: Print Money & Fail Or Establish Sound Money

220160524_venz_0.png

If the state/central bank attempts to create capital by printing or borrowing money into existence, private capital will flee because the writing is on the wall: the currency and economy are doomed. You can create currency out of thin air, but you can't create sound money out of thin air or real capital out of thin air. If the state/central bank surrenders the money-printing press, and accepts the limitations of a currency it can't print into hyper-inflation, then private capital will enter the economy because it can trust that the currency can't be devalued by politicos or the central bank.

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The Choice For Venezuela Is Stark: Print Money & Fail Or Establish Sound Money

220160524_venz_0.png

If the state/central bank attempts to create capital by printing or borrowing money into existence, private capital will flee because the writing is on the wall: the currency and economy are doomed. You can create currency out of thin air, but you can't create sound money out of thin air or real capital out of thin air. If the state/central bank surrenders the money-printing press, and accepts the limitations of a currency it can't print into hyper-inflation, then private capital will enter the economy because it can trust that the currency can't be devalued by politicos or the central bank.

No problem - more stimulus is the answer. It works everywhere else - just look at the UK, mind you hardly anyone bar bankers and their cronies (MPs and rich foreigners) can afford a home.

Edited by billybong

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The Choice For Venezuela Is Stark: Print Money & Fail Or Establish Sound Money

220160524_venz_0.png

If the state/central bank attempts to create capital by printing or borrowing money into existence, private capital will flee because the writing is on the wall: the currency and economy are doomed. You can create currency out of thin air, but you can't create sound money out of thin air or real capital out of thin air. If the state/central bank surrenders the money-printing press, and accepts the limitations of a currency it can't print into hyper-inflation, then private capital will enter the economy because it can trust that the currency can't be devalued by politicos or the central bank.

if they try to legislate everything so it looks fair, it's disappearing up it's own @rse as well.

plus,because of the way socialist governments think, the populace have absolutely zero chance of thinking for themselves and inventing a way out of it.

that's not to say our governments of late have been much better...nulabour hold venezuela up as a poster child for successful socialism do they not?

maybe we should just hold them to their word.

...and make sure that there is full publicity and accountability to labour when the death squads and cannibalism start over there.

make sure people know what the REAL face of socialism is when it goes t1ts up and the people in power try to hide it.

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