Chávez Struggles to Tame Black-Market Dollar Strength

[naaman fletcher]

CARACAS, Venezuela—President Hugo Chávez has vowed to strengthen Venezuela's currency 40% in the black market, but he is finding the U.S. currency a tough opponent.

Nearly two weeks after devaluing the bolivar's fixed official rate to 4.3 bolivars per dollar from 2.15 bolivars, its value in the "parallel," or black, market, which according to Mr. Chávez would soon "revalue" sharply, is virtually unchanged. The parallel market is a pseudo-legal market that involves brokered desk trading but isn't formally authorized or regulated by authorities.

If the government cannot strengthen the bolivar, or, worse, if the currency begins to weaken sharply, that ...

http://online.wsj.com/article/SB10001424052748703699204575017211276433460.html?mod=googlenews_wsj

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One way to keep your currency strong is not to steal businesses. When you steal businesses, people move their money to places where the government doesn't steal it.

[EFerrari]

1. I'm sure you can source the allegation that the Chavez admin has stolen anything.

Just like you sourced the fake earthquake attack story?

Thanks.

[naaman fletcher]

2. hmm..

1. What fake earthquake attack story?
2. Taking something worth ten dollars, and paying 9 for it, is still stealing $1. That is what he has been doing. Need proof? NOBODY bid on his recent oil auction. It's because he steals, there is no other reason nobody would bid.

[EFerrari]

4. So, your answer is no?

[naaman fletcher]

5. The answer is yes.

Can you prove black holes exist? Yes, but not by looking at them, you see their effects.

Chavez claims he pays a fair price, but, if it was fair, people would sell voluntarily. If it was fair, people wouldn't be afraid to bid in oil auctions.

By looking at the effects, we see that he is stealing.

[slackmaster]

3. VISIONARY LEADERSHIP!!!

:nuke: