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Maduro's First Socialist "Decree" - $250 Samsung Trinkets For Every Venezuelan

Tyler Durden's picture




 

Days after being granted omnipotent "decree" powers, and a week after the Venezuelan president wielded his mighty Marxist sword and jailed 100s of "bourgeois, barbaric, capitalist parasites"; Maduro has unveiled his latest "keep the masses happy" trick...

  • *VENEZUELA TO SPEND $100M ON SAMSUNG IMPORTS: RAMIREZ
  • *VENEZUELA TO IMPORT 400,000 SAMSUNG PRODUCTS, RAMIREZ SAYS

Why didn't AAPL get the nod? As Maduro explained yesterday, 15-30% margins are "enough"... Of course, the US is disappointed in the decision to grant Maduro "decree power" - perhaps as they didn't think of it sooner (though they do have the Obamaphone?).

 

 

Via Bloomberg (from Venezuelan State TV):

  • Venezuela to pay $100m in cash for Samsung product imports, Ramirez says
  • Samsung products to arrive before Christmas, Ramirez says
  • Govt, Samsung create joint venture, looking for factory sites, Ramirez says
 

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Wed, 11/20/2013 - 18:13 | 4175259 TruthInSunshine
TruthInSunshine's picture

Panem et Smartphones.

Wed, 11/20/2013 - 18:26 | 4175289 SpiceMustFlow
SpiceMustFlow's picture

hopefully they'll figure out how to wipe their asses with them

Wed, 11/20/2013 - 18:31 | 4175308 TruthInSunshine
TruthInSunshine's picture

A Galaxy S in every pot.

Wed, 11/20/2013 - 18:33 | 4175312 DoChenRollingBearing
DoChenRollingBearing's picture

"Somewhere over the rainbow..."

Wed, 11/20/2013 - 18:35 | 4175321 gmrpeabody
gmrpeabody's picture

They are very handy for your "blow"...,

Wed, 11/20/2013 - 18:53 | 4175362 The Alarmist
The Alarmist's picture

"US is disapponted ...."

Yes, because everyone knows the tried and true formula is to mandate that everyone buy one and to give them taxpayer funded subsidies if they cannot afford it, with "unable to afford" apparently stopping at $60k and magically starting again for select parties who earn $170k and up within the Beltway. 

Wed, 11/20/2013 - 19:25 | 4175452 bunzbunzbunz
bunzbunzbunz's picture

<----- Bunz is a shameless prick

<----- I want to diversify my SHTF fund with free bitcoins: http://freebitco.in/?r=25727

Wed, 11/20/2013 - 19:55 | 4175585 zaphod
zaphod's picture

While we all make fun of Venezuela, just remember.

The US government spends WAY more than $400M on free phones for people every single year.

Wed, 11/20/2013 - 20:55 | 4175801 The Alarmist
The Alarmist's picture

That is the point ... the Venezelans are pikers compared to King O and his court.

Wed, 11/20/2013 - 20:57 | 4175804 Anusocracy
Anusocracy's picture

Doesn't Venezuela oil reserves worth $1 million per capita.

Cheap bastard, only $250.

Thu, 11/21/2013 - 08:26 | 4176751 DYS
DYS's picture

That link is no good.   Use this one, instead!   http://freebitco.in/?r=39304

Thu, 11/21/2013 - 03:18 | 4175371 AlaricBalth
AlaricBalth's picture

Sept 15, 2014 (AP) In his first Decree as Supreme Leader, Mr. Obama announced today that every American will be receiving, and required to eat, one case of peas. This unprecedented announcement is part of Glorious Wife Michelle's directive called "The Eat Healthy or Die Program".

In addition to this Decree, the new Ministry of Health announced a Letter of Intent to convert the old Capitol Building into a vegetable canning factory, in a joint venture with Del Monte.

A spokesperson for the Ministry of Health/Del Monte JV was quoted as saying, "This building is the perfect setting for the new factory. Previously it was home to the former legislative branch of government, where 535 tired, old vegetables sat ON their cans. Now, here we will be putting quality GMO vegetables into cans. Hail Supreme Leader and Glorious Wife for their wisdom and blessings upon we, the collective. "

Wed, 11/20/2013 - 18:45 | 4175330 Jayda1850
Jayda1850's picture

I keep thinking to myself, "Don't these countries remember what happened to previous countries that have tried these same policies and the results that occured, can they be that stupid?"

And then I look at the road the US is on, they are all THAT stupid.

Wed, 11/20/2013 - 18:51 | 4175353 aVileRat
aVileRat's picture

Between Argentina, Brazil and Venezuela this is a race to the bottom. One is going full out Brezhnev, one is going Psudo-Maoist and one thinks he is Eva Peron.

All must think they are immune to a 1986-1992 Debt Crisis.

 

Wed, 11/20/2013 - 18:54 | 4175368 The Alarmist
The Alarmist's picture

They have to get past their 1970's experience first.

Wed, 11/20/2013 - 19:24 | 4175451 max2205
max2205's picture

How do they recharge them.... Blackouts make that tough

Wed, 11/20/2013 - 20:51 | 4175788 The Alarmist
The Alarmist's picture

Crank-up chargers ... you can get them at Radio Shack and Brookestone.

Wed, 11/20/2013 - 23:41 | 4176293 Promethus
Promethus's picture

Try Daka. I heard their stores recently had a big sale.

Wed, 11/20/2013 - 19:47 | 4175547 TheReplacement
TheReplacement's picture

Hopefully if/when the top pops the survivors round up every single last socialist and make a mountain of skulls for future generations to see and understand.

Wed, 11/20/2013 - 18:16 | 4175266 dexter_morgan
dexter_morgan's picture

That pose looks familiar......where have we seen that before?

Wed, 11/20/2013 - 18:36 | 4175325 Clayton Bigsby
Clayton Bigsby's picture

Somebody should shoot that fuckin' guy before it's too late.

Wed, 11/20/2013 - 19:51 | 4175554 DrData02
DrData02's picture

But which guy?

Wed, 11/20/2013 - 20:50 | 4175784 Anusocracy
Anusocracy's picture

All of them.

Let the devil sort them out.

Thu, 11/21/2013 - 00:12 | 4176376 MisterMousePotato
MisterMousePotato's picture

It is too late.

Thu, 11/21/2013 - 02:44 | 4176547 Martel
Martel's picture

What's wrong with Commies doing what Commies do? Giving a $250 trinket to every citizen is FAR FUCKING BETTER than giving $80 billion to banksters, each month.

Would the U.S. please stand back, just this time? You can't give "Freedom and Liberty" to other nations, as you don't have those yourself.

 

Meta tags: NSA, PRISM, GAMUT, TRAILBLAZER, STUXNET, DUQU, RICHTER, DROPMIRE, DEWSWEEPER, HIGHLANDS, VAGRANT, ANCHORY, SHARKFIN, CONTRAOCTAVE, NUCLEON, ISHTAR, COURIERSKILL, WHITETAMALE, DISHFIRE, FOXACID

Wed, 11/20/2013 - 18:36 | 4175326 The Gooch
The Gooch's picture

To be followed by one (state controlled) TV channel and one portal.

Wed, 11/20/2013 - 19:20 | 4175435 RSloane
RSloane's picture

They are almost there as it is.

Wed, 11/20/2013 - 19:37 | 4175497 lasvegaspersona
lasvegaspersona's picture

dude that's the new 'sieg heil' look, don't you follow fashion? A dance version will be coming out when they have all the 'toadies' and 'running dog' inperialist in jail with the capitalist pigs who were charging 'high margins' (and I'm pretty sure that Agenda 21 covers that horrible assault on human dignity.)

Wed, 11/20/2013 - 18:17 | 4175267 Burnbright
Burnbright's picture

What the fuck is it with fascists raising their hands like that. I just don't get how they don't see it as a dead give away that they are pure fucking evil. 

Wed, 11/20/2013 - 22:42 | 4176146 Mike in GA
Mike in GA's picture

It's the symbol for "Forward".  All socialists know each other by this secret salute.

That, and the blood on your hands.  And the empty shelves.  And so on.

Thu, 11/21/2013 - 03:37 | 4176596 PT
PT's picture

Yeah, like all them guitar players that hold one hand in the air.  And all them singers ...

Pardon me, it's time for my nap. 

Wed, 11/20/2013 - 18:19 | 4175271 rp1
rp1's picture

It was "let them eat iPads".  This Samsung shit isn't going to work.

Wed, 11/20/2013 - 18:18 | 4175272 JustObserving
JustObserving's picture

That is peanuts  The Fed gives $1,000,000 per person with its QE of $1020 billion a year - but only to the 0.1%.

Wed, 11/20/2013 - 18:37 | 4175292 hedgeless_horseman
hedgeless_horseman's picture

 

 

QE= $1,000,000,000,000 per year

US Population 314,000,000

QE/Person is $3,184.71 per year

Keep looking, your check is in the mail.

Wed, 11/20/2013 - 18:39 | 4175333 gmrpeabody
gmrpeabody's picture

That would get people spending again, would it not?

Wed, 11/20/2013 - 18:40 | 4175335 gmrpeabody
gmrpeabody's picture

I suppose it's that velocity of money thing, though.

Wed, 11/20/2013 - 21:06 | 4175834 tmosley
tmosley's picture

At that point I think we would be seeing plaid in that particular form of velocity.

Wed, 11/20/2013 - 22:35 | 4176120 Diogenes
Diogenes's picture

Yeah the velocity of money is real slow these days. That's why yours hasn't got here yet.

Wed, 11/20/2013 - 19:34 | 4175486 resurger
resurger's picture

hahahahahaha!

Wed, 11/20/2013 - 20:07 | 4175633 batz
batz's picture

 

Smart, but the voting population is maybe 1/3 to 1/2 of that. So say, $8,000-$16,000 per voter. Enough to buy a....car?

Wed, 11/20/2013 - 20:09 | 4175642 batz
batz's picture

 

Smart, but the voting population is maybe 1/3 to 1/2 of that. So say, $8,000-$16,000 per voter. Enough to buy a....car?

Wed, 11/20/2013 - 20:17 | 4175680 batz
batz's picture

 

Smart, but the voting population is maybe 1/3 to 1/2 of that. So say, $8,000-$16,000 per voter. Enough to buy a....car?

 

Wed, 11/20/2013 - 21:49 | 4175977 moroots
moroots's picture

Hedgeless, recalculate that with the denominator as actual taxpayers for an even scarier result.

Wed, 11/20/2013 - 18:20 | 4175275 Jayda1850
Jayda1850's picture

But I can't wipe my ass with a samsung!

 

Wed, 11/20/2013 - 18:25 | 4175287 gafgroocK
gafgroocK's picture

 

 

Whelp, I did just hear that Samsung was coming out with a Curved-Screen shaped Phone, so maybe that feature put them over the top?

Wed, 11/20/2013 - 19:06 | 4175398 The Alarmist
The Alarmist's picture

"But I can't wipe my ass with a samsung!"

Then you just aren't trying hard enough.  No wonder the country is falling behind the rest of the world.

Wed, 11/20/2013 - 21:21 | 4175875 Dave Thomas
Dave Thomas's picture

Samsungs enginnering team has brought a new phone to the market, "The Galaxy on a Stick". (For select markets Only!)

 

Thu, 11/21/2013 - 03:41 | 4176599 PT
PT's picture

Why would you want to wipe your ass with it?  I thought you were going to eat it.  Eeewww.

Wed, 11/20/2013 - 18:59 | 4175383 dracos_ghost
dracos_ghost's picture

It seems the Snapchat crowd would disagree with you.

Wed, 11/20/2013 - 18:23 | 4175278 Flakmeister
Flakmeister's picture

Can't buy me love...

I'll buy  you a Samsung TV my friend if it make you feel alright

He may not have a lot to give  but what he's got I'll give to you...

-----

This is not going to end well...

Wed, 11/20/2013 - 18:25 | 4175285 Hedgetard55
Hedgetard55's picture

Guess they have their own Free Shit Army down there.

Wed, 11/20/2013 - 18:33 | 4175310 forwardho
forwardho's picture

The entire population(at least those not in prison) are now FSN.

Wed, 11/20/2013 - 18:25 | 4175286 Zero Point
Zero Point's picture

If you like your Iphone, you can have a Samsung.

Wed, 11/20/2013 - 18:27 | 4175291 robertocarlos
robertocarlos's picture

Samsung should demand payment in gold, in advance. Then say it was lost in a riot.

Wed, 11/20/2013 - 18:27 | 4175293 Running On Bing...
Running On Bingo Fuel's picture

Scary, scary symbols. Quick call Schindler, get him on the ready.

Over.

Wed, 11/20/2013 - 18:33 | 4175297 Ignatius
Ignatius's picture

-->  yes

-->  no

-->  your fucking problem

Off topic

Anyone else getting "denial of service error 403" at "noliesradio.org"?

Thanks

Wed, 11/20/2013 - 18:35 | 4175317 Running On Bing...
Running On Bingo Fuel's picture

I was getting 418's. But I couldn't tell if was coming from my new forward appliance.

Over.

Wed, 11/20/2013 - 18:29 | 4175301 Overfed
Overfed's picture

That settles it. I'm taking my family to Venezuela!!

Wed, 11/20/2013 - 18:30 | 4175305 DonFromWyoming
DonFromWyoming's picture

400K products imported at $250ea.  30 million population.  One gadget for every 75 Venezuelans.  Riots anyone?

Wed, 11/20/2013 - 18:35 | 4175318 Zero Point
Zero Point's picture

Once the ruling junta doles them out to their snot nose brats, around ten carefully picked TV citizens will get theirs.

Like fridges in Cuba.

Wed, 11/20/2013 - 18:36 | 4175324 Sonic the porcupine
Sonic the porcupine's picture

There are 100 less people they need to give phones to. Maybe they just need to jail another few million?

Wed, 11/20/2013 - 22:22 | 4176077 Nue
Nue's picture

Math: Ruining Socialist Utopian pipe dreams since 1848

Wed, 11/20/2013 - 18:30 | 4175306 buzzsaw99
buzzsaw99's picture

yeah, the usa gubbermint decrees i-crap and pays for it too. fascist phucks.

Wed, 11/20/2013 - 18:36 | 4175327 Running On Bing...
Running On Bingo Fuel's picture

Last I checked, I was paying for it. At least in Venezuela the oil pays for it.

Over.

Wed, 11/20/2013 - 18:38 | 4175315 highly debtful
highly debtful's picture

He is a clownish and tragic character all right and I feel sorry for the people of Venezuela.

But in a way he is no worse than our Western central banks printing their balance sheets into oblivion and enabling our politicians to drive our welfare state economies into the ground through unsustainable spending. At this point, I'm afraid we're not so different from him anymore.

Wed, 11/20/2013 - 18:38 | 4175332 moneybots
moneybots's picture

"Govt, Samsung create joint venture, looking for factory sites, Ramirez says"

 

Why would Samsung want to build a factory there?

Wed, 11/20/2013 - 22:36 | 4176125 Diogenes
Diogenes's picture

Because the government is paying for it?

Wed, 11/20/2013 - 18:45 | 4175346 Yen Cross
Yen Cross's picture

    Can you wipe your ass with 'Samsung trinkets'?

Wed, 11/20/2013 - 18:56 | 4175378 Village-idiot
Village-idiot's picture

Those flip-phones make a good scaper.

Not very comfortable, but in a pinch...

Wed, 11/20/2013 - 18:46 | 4175347 Joe A
Joe A's picture

It is funny, in the past you had countries in South America (and other parts of the world) that were either a Coca Cola country or a Pepsi country. Seems now perhaps the trend is if a country will be a Samsung country or an Apple country.

Thu, 11/21/2013 - 04:17 | 4176624 carlin401
carlin401's picture

iPhone is deader than shit now, all the teenage girls got Samsung here in asia,... its game over for USA spynet

Wed, 11/20/2013 - 18:47 | 4175348 hmmmstrange
hmmmstrange's picture

These samsung gadgets will come with a bitcoin wallet installed?

Wed, 11/20/2013 - 18:51 | 4175349 Bennie Noakes
Bennie Noakes's picture

*VENEZUELA TO SPEND $100M ON SAMSUNG IMPORTS: RAMIREZ

And possibly Maduro is sending $200M to his personal Swiss bank account as well? I'm sure he is going to have a merry Christmas.

Wed, 11/20/2013 - 18:54 | 4175363 Karl von Bahnhof
Karl von Bahnhof's picture

Tylerz that was poor...

Wed, 11/20/2013 - 18:54 | 4175367 Running On Bing...
Running On Bingo Fuel's picture

Verison is having some good sales on tablets. The price is a little better than Walmart so if you're in the market, check them out.

Wed, 11/20/2013 - 18:58 | 4175381 The Alarmist
The Alarmist's picture

Verizon ... chuckle ... isn't that Latin for truthful and visionary?  Talk about classic 1984 newspeak boiled down to one word.

Wed, 11/20/2013 - 18:58 | 4175380 Running On Bing...
Running On Bingo Fuel's picture

Also, CTD is having two sales:

1) DPMS AR-15 $(772.74) can't beat that price for a decent disposable AR.
http://www.cheaperthandirt.com/product/8-DPMS-RFA2AP4LCH

2)"Cute Deer" ~$13
http://www.cheaperthandirt.com/product/7-472

Over!

Wed, 11/20/2013 - 19:19 | 4175430 nmewn
nmewn's picture

I feel kinda sorry for Venezulan's, the communists are still dickin around with their toilet paper...I mean, this is revolutionary type shit we're talkin about here.

Pun intended ;-)

"A frustrated Foreign Minister Elias Jaua only made things worse when he admitted the government “had work to do” (edit, where have I heard that line before?...lol) to overcome shortages and asked: “Do you want to have the fatherland or do you want toilet paper?”

(Just the toilet paper, apparently)

Critics tweeted their disapproval using a fitting hashtag, #LosChavistasSeLimpianElCuloConLaPatria (#ChavistasWipeTheirBehindsWithTheFatherland),..."

(ROTFL!!!)

From each according to their ass wiping one sheet abilities, to each according to how long they can actually hold it...lol.

Good grief...fucking communists.

http://www.bloomberg.com/news/2013-09-27/venezuela-is-running-out-of-toilet-paper-.html

Wed, 11/20/2013 - 19:31 | 4175472 Bastiat
Bastiat's picture

They won't need much asswipe when they're starving.

Wed, 11/20/2013 - 21:54 | 4175992 nmewn
nmewn's picture

Its the "collective insanity" of it all that gets to me Bastiat...the complete suspension of ones simple incredulity, that allowing someone/something to have dictatorial powers over ones self interest and life...while in the suspension of it...believing the one(s) you gave that power to...has no self interest.

Wed, 11/20/2013 - 19:39 | 4175506 The Alarmist
The Alarmist's picture

You laugh now, but the low-flow plumbing they insist you have to help conserve water is wreaking havoc on the ability of the sewage systems to handle your shit and its accompanying toilet paper.  It is only a matter of time before they come for your toilet paper.

Wed, 11/20/2013 - 21:57 | 4176006 nmewn
nmewn's picture

Clearly calls for massive amounts of life killing chlorine dumped into the sewer...like in Frisco...but it smells cleeean!...lol.

Thu, 11/21/2013 - 03:49 | 4176605 PT
PT's picture

My experience.

Water saving shower head:  Have to run after the water drops to try and get wet.  Have to turn the water up so it feels like acupuncture to try and get wet.

Water saving toilets:  Have to flush three times and even then there's shit stuck to the bowl.

The plumbing inventors got it right the first time.  Anyone promoting the new stuff needs to be shot. 

Wed, 11/20/2013 - 22:30 | 4176106 Nue
Nue's picture

I don't feel sorry for them just like I don't feel sorry for the people being screwed by Obamacare. Why because Obamacare just like Chavez  had massive public support a few years ago. What makes Socialism attractive is the idea that people have that they can  gain more than they can put in  and thus live like parasites on the labor of others.  

Wed, 11/20/2013 - 22:38 | 4176133 Diogenes
Diogenes's picture

What planet are you from? Obamacare never had public support.

Wed, 11/20/2013 - 23:54 | 4176332 Promethus
Promethus's picture

Capitalist LIES.  With Maduro running thing Venezuela always has ass wipes.

Wed, 11/20/2013 - 19:33 | 4175479 resurger
resurger's picture

The scores are:

China 1

USA 0

Wed, 11/20/2013 - 19:52 | 4175556 Gaurden
Gaurden's picture

Dont complain about Mr Maduro.

He wouldnt even exist if it was for evil american interventions in South America and everywhere else.

Its not like anyone else has a better leader but go ahead and tout your pretend democracy and how great it is. Now vote for one of two guys i have presented to you and paid off.  

Personally i think its all shit so i say give them samsung products. At this point, why not. Certainly beats giving them Obamacare.....

Wed, 11/20/2013 - 19:53 | 4175572 css1971
css1971's picture

Why buy samsung on a 30% margin when  they can buy HTC on zero?

Wed, 11/20/2013 - 19:54 | 4175575 surf0766
surf0766's picture

With ACA this will be the next free give away

 

Wed, 11/20/2013 - 19:59 | 4175602 silverserfer
silverserfer's picture

each new tv will be equipped with hidden camera and eavsdropping device. So their leadership can overhear each households "wishes and dreams."

Wed, 11/20/2013 - 20:25 | 4175699 Quantum Nucleonics
Quantum Nucleonics's picture

In completely unrelated news, the bolivar cratered to 60 this month, from about 20 at the beginning of the year.

When is some enterprising junior army officer going to roll the tanks to the tv station and yank this ass clown out of power?

Wed, 11/20/2013 - 20:47 | 4175774 sbenard
sbenard's picture

A decree! Isn't that kinda like an "executive order"?

Wed, 11/20/2013 - 21:05 | 4175830 Dre4dwolf
Dre4dwolf's picture

Drone strikes, isn't that kind of like murder?

Wed, 11/20/2013 - 21:44 | 4175961 Crash Overide
Crash Overide's picture

Don't the Venezuelans know they can just go to Best Buy with a credit card they can never afford to pay back, haven't we taught them anything? They don't need to listen to that fascist fool with his Samsung rainbow dreams... Just in time for "Feria de la Chinita".

Wed, 11/20/2013 - 22:32 | 4176110 Diogenes
Diogenes's picture

Comes the revolution everybody will eat strawberries and cream for breakfast!

*shout from the crowd* I hate strawberries and cream

Comes the revolution, you will eat your strawberries and cream - and like it.

(1930s anti Communist joke)

Thu, 11/21/2013 - 03:55 | 4176608 PT
PT's picture

You beat me to it.  The version I heard was:

"Come the revolution, everyone will have a brand new, big, black Cadillac."
"Come the revolution, everyone will have a beautiful, long legged blonde wife by their side."
"Come the revolution, everyone will smoke a huuuge cigar."

"But I don't want a cadillac or a blonde wife or a cigar."

"Come the revolution, and you'll do as you're goddamned told."

Wed, 11/20/2013 - 23:31 | 4176272 mantrid
mantrid's picture

so their currency will be backed by smartphones now? petro-smartphones to replace petrodollars? hey, China could do that with Iran!

Thu, 11/21/2013 - 03:56 | 4176610 PT
PT's picture

Genius!

Wed, 11/20/2013 - 23:42 | 4176278 ThroxxOfVron
ThroxxOfVron's picture

NOT SMARTphones: SMARTtelevisions.

Specially designed ORWELL/Maduro Edition Designer Samsung Television Sets for Everyone so that 'The Dear Leader Show' can be watched ( and watch THEM ) every day.

This new Fascism is going to be ever so more entertaining now that the technology has matured...

Calisthenics and patriotic songs make Everyone's mornings bright and cheerful ! 

Thu, 11/21/2013 - 02:03 | 4176533 Amagnonx
Amagnonx's picture

Maduro is doing whats necessary - kicking out monopolies and crony capitalism.

Everyone can join in the chorus against him, but instead of jumping on the intellectual bandwagon, try some independent thinking.

 

Thu, 11/21/2013 - 04:00 | 4176613 carlin401
carlin401's picture

Yep,

Nobody in Venezuela talking about OBama-Care,

There you get sick and for less than $5, you can see a doctor and get a bag of pills.

They're following the CUBAN model of medicine, flood the world with doctors and make them cheap.

Then you might ask, why does the USA biz model hate Venezuela and Cuba? Because they care about the little people.

Thu, 11/21/2013 - 02:16 | 4176534 gallistic
gallistic's picture

I would like to think that people on a site like this are able to exercise nuanced thinking and dig below the surface to understand things, but all I see is cynicism and ignorance (and the occasional glib witticism). Many here are drinking deeply from the electric kool-aid chalice fed to them by the corporate media.

This is really not too hard to understand.

Since 2003 Venezuela has operated a multiple exchange rate regime, with a limited supply of dollars at a cheap rate (the CADIVI rate) and a slightly higher legal rate, and an even higher black market rate.

Importers in Venezuela bring in goods with cheap dollars that they obtain through the state. These dollars come from the petroleum rent. While this can have legitimate purposes such as subsidizing imports for Venezuelans with the nation's oil money, it also creates quite large incentives for illicit gains by exploiting the difference between the different prices.

Agents with access to dollars, such as importers, can arbitrate the difference in the rates to create huge profits. They can buy dollars at the low official rate and sell them at the higher black market rate instead of spending them on imports. They can also buy imports with dollars purchased cheaply, but sell them as if they were paid for with expensive black market dollars by marking the products up by 200% to to 2000%.

The core government decision is to limit the markup on certain products imported with subsidized dollars.

The government’s idea is to limit the markup to 30% for agents using the subsidized rate. For this reason, state institutions such as INDEPABIS are now revising importers’ books.

C'mon brothers! Let's go get a fucking clue shall we?

Thu, 11/21/2013 - 07:35 | 4176705 SmallerGovNow2
SmallerGovNow2's picture

yes let's get a sound fucking clue like they wouldn't have to do any of this bull shit if they had sound money.  fucking fixed it for ya...

Thu, 11/21/2013 - 13:40 | 4177740 gallistic
gallistic's picture

Gee,thanks for fucking it up...er, "fucking fixing it up" for me.

Sure, Venezuela has huge and numerous problems, but not the one your ignorant self chose to "fix".

Public Debt is about 26.8% of GDP (go on, compare that to the real US debt).

Venezuela currently has slightly under 70% of their national reserves in physical gold. It used to be over 70%, but it has slipped with the decline in gold price. This phyzz was repatriated and is now held inside the country, not in some phantom foreign vault where it may get "loaned out" rehypothecated, manipulated, or otherwise disappeared through well-known shenanigans.

They also have gold and diamonds as natural resources. In 2011 the export of bullion was banned and all mined gold stays in the country. At the current and ridiculously anemic rate of exploitation (all foreign mining carpetbaggers were told to fuck off and sent away), it adds about 12 metric tonnes (or $525,215,179.00 at gold's price this minute) to the coffers each year. Any increase in the pace of mining their reserves will increase this number exponentially.

Venezuela is the country with the largest (proven) oil reserves in the entire planet; more than than Saudi Arabia. Can you say Petro-Bolivar?

Allrighty then, let's look at your cogent contribution-

"they wouldn't have to do any of this bull shit if they had sound money.  fucking fixed it for ya..."

To which I could reply- whether gold-backed or petro-dollar, Venezuela has a very strong hand and is in an enviable position. In addition, they have the brass in their cojones to put hundreds of parasitic financial criminals behind bars.

Go on, make a list of the worst financial criminals in the US.

How many of these banksters are in jail?

Thanks for fu...  sorry, "fixing it" for me.

You can go back to pissing in the wind and screaming about "big gub'mint" now.

Thu, 11/21/2013 - 02:08 | 4176538 gallistic
gallistic's picture

BTW, when was the last time we looked over the vampire squid's books?

Was that before or after we looked at the Fed's books?

Thu, 11/21/2013 - 03:02 | 4176575 StychoKiller
StychoKiller's picture

[quote] Govt, Samsung create joint venture, looking for factory sites, Ramirez says [/quote]

What kind of drugs/idiocy is going on in Samsung mgmt?  Venuzuela will nationalize anything Samsung is dumb enough to set up in the country, once the honeymoon is over...

Thu, 11/21/2013 - 06:59 | 4176693 damicol
damicol's picture

Don't tell me you seriously believe that fucking drivel.

 

 Samsung say they don't even know who this fuckwit is, let alone deal with him, and as for sending $100 million dollars of anything to Venzuala they want the  fucking cheque cashed and the money locked up in a secure vault before they will even open any paperwork  to send even one fucking memory stick.

Is it true the dumb fuck has such a deeply stained brown face because obummer had it up his jacksie for the last 15 years

Thu, 11/21/2013 - 04:15 | 4176623 carlin401
carlin401's picture

Why the Nazi Salute ( on maduro ) ZH OPS?

Its god-damn fucking USA that is FULL RETARD NAZI FASCIST

At the very least put a NAZI ObAMA near him, ... for a comparison with a real fucking jack booted nazi ( obama )

Thu, 11/21/2013 - 09:03 | 4176791 Old Poor Richard
Old Poor Richard's picture

Ulike iPads, Galaxy Tabs are edible.

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