Posted on 09/14/2017 9:33:08 AM PDT by PPSman
In retrospect, this could be the most important economic event of 2017.
The oil-rich country of Venezuela has stopped accepting the U.S. Dollar as payment for oil.
Last week President Maduro warned that the country would this week ‘free’ itself from the US dollar. “Venezuela is going to implement a new system of international payments and will create a basket of currencies to free us from the dollar.”
Yesterday Venezuela temporarily suspended the sale of U.S. dollars through its Dicom auction system. This (and other moves) was in response to U.S. sanctions put in place by the Trump administration.
(Excerpt) Read more at economicpolicyjournal.com ...
Let’s see how that works for him....I bet the Dollar lasts longer than the socialist republic of Venezuela...
Great...pay them in pennies.
LOL Yes Venezuala is going to destroy the dollar. HAHAHA
Let’s see....uh what will collapse first...the U.S. Dollar or Venezuela...?
Maduro will be able to feed his people yuan stew. Mmmm....
Sure...the USA should measure its economic viability by the opinions of Venezuela.
Eat Maduro!
That is a good rallying cry for the protesters.
I agree with your assessment-
now on the “food front” -
“Venezuelan President Nicolás Maduro has devised a “rabbit plan” to counter the economic war he says is being waged against his government by “imperialist forces”.
The president urged crisis-hit Venezuelans to breed rabbits and eat them as a source of animal protein.
Venezuela is facing record levels of child malnutrition amid persistent food shortages.
An opposition politician said the plan was “a bad joke”.”
can’t make this up- did the castro brothers breed rabbits too?- maybe offer this plan to the Norks?
LOL
Hi.
Welcome to FR.
Venezuela? Lol.
The Chicoms can try, but will fail.
I can give many reasons why, but only one today...
Have you ever traveled the world? No matter where you go (even N. Korea), you can spend the dollar. Although, if you spend it in N. Korea, you are subject to the death penalty.
5.56mm
Why don’t you post the entire article,Mr.W.?
.
One of the most ridiculous click-bait headlines I’ve ever seen.
Authors rarely write the headlines. Editors do. More than one stupid person was involved.
Not sure, but there was a strange Spanish speaking man in the toy section at Wal-Mart earlier buying up all the Monopoly games.
For decades, Lagoven asphalt flux (for making shingles) from Venezuela was the premier base product for roofing materials in the US. The Vens shipped thousands of tons of the stuff to the port of Mobile and east coast terminals, always commanding top dollar for what was THE best roofing flux.
Then, Chavez had a better idea. Instead of earning top dollar in the US, he blended the stuff of and sent it China for a lower netback. Brilliant !
Hahaha. A idiot bus driver (now dictator) of a country where people have already eaten their pets and are now eating flamingos and anteaters does his? What a loser country full of socialist idiots who elected a malignancy. They deserve their loser fate. I laugh at their oil reserves and their gold reserves which continue to be underdeveloped by these fools.
Vanadium is also fun for refinery catalyst.
Leftist journal...check.
Promoting failed socialist government as Oil Rich to spin...check.
Failed Government trying to hamper its internal dissidents...check.
Who gives a crap...check.
From July 17/ 2017: The U.S. refiner industry has economic reasons to decrease import of Venezuelan heavy crude—Maduro wants everyone to believe the reduced export to the U.S. is a result of his policy moves.
“U.S. oil refiners pare exposure to Venezuelan crude imports”
https://www.reuters.com/article/us-usa-refiners-venezuela-idUSKBN1AC36M
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