TALK & OPINIONS BY SILVIO CANTO JR.

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Archive for the ‘Venezuela’ Category

“El Bolivar”, from 4.29 to 14,100 and falling….

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The situation in Venezuela took another turn for the worse.    We learned that “el Bolivar” is down again:

Venezuela’s bolivar currency tumbled 18 percent against the U.S. dollar on Thursday on the black market, ahead of the inauguration of a legislative superbody that the opposition says will give President Nicola Maduro sweeping new powers.

The currency data, provided by the widely-tracked but opaque website DolarToday, show the bolivar fell just under 60 percent to 17,981 bolivars per dollar over the last month as countries around the world urged Maduro to back off the idea of electing a “constituent assembly”.

The vote, boycotted by the opposition, was held on Sunday.

On Thursday, Maduro said anyone caught using DolarToday to calculate higher consumer prices would be punished.

“I have given instructions … that those who try to raise prices based on DolarToday be detained,” the president said during a televised address.

The constituent assembly, to be inaugurated on Friday, will have broad powers, including that of re-writing the constitution.

Maduro says the assembly will bring peace to the oil-rich but economically-ailing country, after four months of opposition street protests that have left more than 120 people dead. He is widely blamed for the country’s deep economic recession, exacerbated by food and medicine shortages.

What a sad story, specially for those of us who remember when one US dollar meant 4.29 Bolivares.   I guess that this is what happens when socialists mismanage the nation’s resources and destroy the local constitution.

P.S. You can listen to my show (Canto Talk) and follow me on Twitter.

Written by scantojr

August 4, 2017 at 9:48 pm

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Meet Hugo’s daughter (‘La chica rica’)

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(My new American Thinker post)

Let me introduce you to the richest young woman in Venezuela, or “la chica rica”, i.e. the rich girl.      

Her name is María Gabriela Chávez, or the daughter of the socialist Hugo Chavez.    

According to Ezequiel Spector, a lawyer, PhD candidate, professor at the University Torcuato Di Tella and contributor at PanAm Post, this is one lucky Maria:

The alleged fortune of María Gabriela Chávez, daughter of the late Hugo Chávez, has recently stirred up controversy in Venezuela. Media reports suggest that Chávez’s daughter has US$4.2 billion stored in bank accounts in the United States and Andorra, which might make her the wealthiest person in Venezuela.

Critics have pointed to a supposed inconsistency: how can one support the so-called Bolivarian Revolution while enjoying such enormous riches? However, the premise of this critique is flawed, because it assumes that Chavismo emerged to uphold rights and equality.

How did the Chavez family get so filthy rich? Did they create great industries and hire thousands of people?   Did they contribute to the economy?    They did it because they stole it in the name of income inequality:

They are rich because the government has awarded them privileges and subsidies, at the expense of the average citizen. That’s 21st-century socialism’s social mobility. They don’t want capitalism, since their socialist system has already made them quite comfortable.

They also do it because the Western media doesn’t ask them about their wealth.    

For example, Raul Castro’s daughter, Mariela, recently visited the US.   She was given a total pass by US journalists who were fascinated by the Cuban health care system rather than Castro, Inc, the empire that has made her family fifthly rich too.    

Maria Gabriela in Caracas and Mariela in Havana, a couple of lucky girls who preach socialism and live like Maria Antoniette!    

As Hall & Oates sang many years ago:  

“You can rely on the old man’s money

You can rely on the old man’s money….”

P.S. You can listen to my show (Canto Talk) and follow me on Twitter.

 

Written by scantojr

July 17, 2016 at 6:52 am

Venezuela in turmoil about upcoming election……click to listen

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December 5, 2015 at 1:30 pm

Caracas 2015: Living in one of the world’s most dangerous cities

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June 10, 2015 at 8:30 am

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Caracas 2015: Living in one of the world’s most dangerous cities

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June 10, 2015 at 6:00 am

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Happy New Year! (Unless you live in Venezuela)

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January 1, 2015 at 1:00 pm

Why checks and balances? Check out Venezuela today

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December 28, 2014 at 10:00 am