Posted on 05/26/2016 5:54:17 AM PDT by C19fan
Venezuela’s gold reserves have plunged to their lowest level on record after it sold $1.7 billion of the precious metal in the first quarter of the year to repay debts. The country is grappling with an economic crisis that has left it struggling to feed its population.
(Excerpt) Read more at cnbc.com ...
Bern baby bern
Soon to be owned by the Chinese at Target blue light special
“Sucks when you run out of others people’s money.”
And it is really going to suck after all the gold is sold off.
Venezuela is a tragedy.
And leftist enablers all over the west have helped this catastrophy rolling.
Which is exactly why you don't encourage a government role which provides food, housing, healthcare, education, jobs, or personal safety for you.
Stupid is as stupid does I suppose?
Why is it that they just cannot admit they screwed up? WTF does it take?
Who says gold isn’t money...?
Meet the next refugee crisis. Obama = Merkel
Its really the Venezuelans own fault.
I feel sorry for the relatively small group of limited government and freedom-loving Venezuelans who are suffering, or had to flee their country, but otherwise, the people chose this, so let them understand the consequences. Chavez and Maduro aren’t alien invaders. They represent the thinking of many Venezuelans. Latinos and South Americans seem to love the caudillo culture, and experimenting with collectivism, socialism and fascism. Will they ever learn a lesson?
Maybe they could sell some more oil to Massachusetts’ poor people?
They will blame US imperialism and capitalism, and ask for money.
How much more perfect can socialism be?
Socialists/liberals/communists/Marxists never admit that they were wrong. See my tagline.
Its too little too late.
If you’re going to take more arsenic, all the money in the world won’t revive you.
At this point, nothing will save Venezuela from complete social and economic collapse.
Oil prices have recovered quite a bit from the lows of earlier this year - you would think that alone would stabilize things a little.
But the downward spiral seems to continue.
Maybe Bernie can explain all that to me.
Hope someone preps Trump on Venezuela prior to his debate with Bernie.
I remember reading (a long time ago) that Venezuela is where a lot of U.S. $20 gold pieces went to when FDR called them all in in 1933. When it became legal for U.S. citizens to own gold again, a lot of UNC $20 gold pieces could be had at good prices.
Selling off gold is like a second mortgage in a house. It seems like a solution, but then the house has no value and you now have two payments.
“Latinos and South Americans seem to love the caudillo culture, and experimenting with collectivism, socialism and fascism. Will they ever learn a lesson?”
Centuries of Latin American history suggest they will probably not ever learn a lesson. Worse, a lot of that mindset has immigrated up here.
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