[proxy_user]

The three zeros he kicked out have just run around the house, and come in through the back door.

Hey, Hugo, they're baaaack!

[rellimpank]

---hummm-some change--when I was there for six months in 1981, the bolivar was about four to the dollar--and people were complaining about inflation then--

[avacado]

Chavez takes an Economics 101 class from Mugabe!

[rocksblues]

Another Socialist paradise.

[EndWelfareToday]

"A strong bolivar, a strong currency," Chavez said on his newly revamped TV show, "Hello, President."

Looks like Americans not buying his oil is beginning to take it's toll on nation. When will the "Progressives" ever learn that just because you print money it doesn't mean there is anything to back that money? People that print money without the proper backing are nothing more than counterfeiters.

[SampleMan]

Reminds me of the time I parked the jet in Brazilia and ran to get a cheeseburger, fries and Coke, while it was fueled up.

Not speaking Portuguese, I just pointed at what I wanted and handed the fry cook at the line shack a US $5. They pulled out a cigar box to make change and before they were through I had a hand full of the local totaling over 850,000 (and that was the change for a $5). I gave all my siblings a crisp 100,000 note that year for Christmas.

[catfish1957]

If these people were stupid enough to re-elect him, they'd probably be blind to this slight of hand. This is exactly what would happen if our leaders told us that that $100 bill in your wallet is now a dime.

[Malone LaVeigh]

The new Venezuelan currency:

[dead]

He is going to kill alot of thousands of people clinging to his dictatorship as it goes down the tubes.

Another leftist hero nutjob for the annals of history.

[theBuckwheat]

There is a real simple way to cure inflation. In fact, it is the only way: stop borrowing money into circulation. Stop creating money from nothing whether it is by the issue of debt instruments or printing of paper currency. It is all borrowed and it is all from nothing.

It is worth noting that while Venezuela has a large amount of oil, it does not choose to use oil as an asset with which to create a reserve for its currency. In fact, not a single nation on earth has any hard asset that underpins its currency.

[livius]

I read some place last week that he has also announced that PDVSA (the VZ state oil company) will start paying dividends in dollars. In other words, his currency has lost all credibility.

[piasa]

Chavez said three zeros will be stripped from the bolivar, and banknotes and coins for the "new bolivar" would enter into circulation in early 2008.
Chavez said the measure would help fight inflation and boost the strength of the local currency.
"A strong bolivar, a strong currency," Chavez said on his newly revamped TV show, "Hello, Jackass."

If you think this is brlilliant, just wait for his five-year plan to end food shortages by growing cherry tomatoes instead of big juicy decadent capitalist beefsteaks. His slogan: "More to go around!"

And then there's the plan to reduce unemployment using the very unique two-hour workweek and mandatory 51 week vacations. More jobs to go around!

[savedbygrace]

Man, Scott Ott of Scrappleface nails another one . . . . wait . . . . what's that? . . . . . . this is for real?

. . . . . . . . . . . . .

Never mind.

[piasa]

Justifying the measure, Chavez argued that the country's strong economic growth of recent years, which has been fueled by high oil prices, has made Venezuela "a world economic power," and that it was psychologically damaging for $1 to be worth so many bolivars.

He should see how many Democrats a dollar will buy.

Oh, wait, he already has...

[Enterprise]

"Chavez: New currency to be introduced"

[motorola7]

on his newly revamped TV show, "Hello, President."
soon to be renamed "Goodbye, President."

[Popman]

The new currency would simplify transactions, improve efficiency, generate confidence and rein in inflation, he said.

So, Monkey boy does understand economics. of course, it is far too late for this to be meaningfull

The Venezuelan leader also announced a gradual 5 percentage point reduction in the value-added tax, currently 14 percent, by July 1 to help combat inflation.

If your inflation rate last year was 17 percent and most certainly going to be a lot more this year, a 5 percent reduction in the value added tax will only stop the flow of blood like a bandage on a 6 inch knife wound

[BenLurkin]

Two words for Hugo:

clue

less

[Chode]

Chavez: "You are a devil, you smell like sulfur, you are a drunk, you are the demon, you are a dictator, you are an assassin Mr. Devil, you are..."

Bush: "YEAH, Yeah, yeah, WHATever... just fill'er up MonkeyBoy!"

[IllumiNaughtyByNature]

walks like a duck, talks like a duck...Typical socialist/Communist/RAT/Liberal maneuver, just outlaw inflation and move the decimal point.