Enjoy communism (II): Venezuela to cut 6 zeros from its currency

[Sanugarid]

The Venezuelan government is studying the mathematical renaming of its currency the sovereign bolivar to make it easier for large corporations to pay. This redirection will reduce to six zeros, making it easier to calculate payments that have now reached higher levels although no official announcement has been made yet. Economically they are very weak venezuela's problem is no longer a matter of their internal politics this crisis has now become a threat to peace on the whole continent this will take time to change.

I think the part where it's a threat to the whole continent is a bit of an overstatement because an economic crisis like this doesn't really affect neighboring countries unless in terms of migration. I think what needs to be done is clean the financial laws in the country because a disheveled laws in terms of finance is only going to make things much worse, at the least when they recover, another problem is solved again.

[Cnut237]

I am going to update this thread, so that it is not forgotten, because a parallel thread has appeared wanting to deny the obvious, and saying that hyperinflation in Venezuela has nothing to do with Communism.

The incompetent government in Venezuela is certainly partly to blame. But not exclusively. Venezuela has a long and troubled history due largely to its oil wealth. Communist states are a bad idea, but they don't tend to arise out of nowhere; they are a misguided attempt to fix the failures of the preceding system. I think it's overly simplistic to blame everything on the Red Menace. Reality tends to be coloured more in shades of grey.

hyperinflation is characteristic of communist countries

If you are trying to make a general point that hyperinflation occurs exclusively in communist states, and is an inevitability, then this statement is misleading and untrue.

Let it not be forgotten [...] So that it is not forgotten.

I wouldn't worry about that happening.

[DrBeer]

I do not think that the issue is related to communism, because there are many economically successful communist regimes, but the issue is related to mismanagement, corruption and the failed government that did not succeed in solving the basic economic problems and instead resorts to temporary solutions instead of searching for a solution to the problem from its roots.
Removing 6 zeros from the currency is a ridiculous game that will not solve the intractable economic problems in Venezuela. It is already a farce. Inflation will continue because they pump more worthless paper currency and they think that this will solve the problem, but the truth is that this will complicate the problem so that it becomes impossible to solve and the economy collapses .

"there are many economically successful communist regimes" - do you have such a subtle sense of humor? Or such fat fantasies? No offense - you can give 1-2 examples from "successful communist regimes" to understand what "success" means to you ... I lived part of my life in a country that built "developed socialism" and paved the way to "communism", and I will tell you this - I regret the lost years "in a successful mode", and I perfectly remember "all the successes" and "achievements" that will make your hair stand on end on your head ...

[yhiaali3]

"there are many economically successful communist regimes" - do you have such a subtle sense of humor? Or such fat fantasies? No offense - you can give 1-2 examples from "successful communist regimes" to understand what "success" means to you ... I lived part of my life in a country that built "developed socialism" and paved the way to "communism", and I will tell you this - I regret the lost years "in a successful mode", and I perfectly remember "all the successes" and "achievements" that will make your hair stand on end on your head ...

I'm not a communist, but I can give you one example: "China" isn't an economically successful communist country? Of course, I am not talking about politics here, but about the economy only. The Chinese political system is tyrannical and dictatorial, and there is a lot of injustice in the country, but economically, China is one of the major economic powers in the world and ranks second directly after the United States:

Nominal GDP Rankings by Country
What are the largest economies in the world? According to the International Monetary Fund, these are the highest ranking countries in the world in nominal GDP:

1 - United States (GDP: 20.49 trillion)
2 - China (GDP: 13.4 trillion)
3 - Japan: (GDP: 4.97 trillion)
4 - Germany: (GDP: 4.00 trillion)
5 - United Kingdom: (GDP: 2.83 trillion)

https://worldpopulationreview.com/countries/countries-by-gdp

Basically, I am not defending or talking about communism, but the meaning of my words is that communism is not the reason for the collapse of the economy, but rather the failed administration and corrupt governments.

[Sithara007]

"there are many economically successful communist regimes" - do you have such a subtle sense of humor? Or such fat fantasies? No offense - you can give 1-2 examples from "successful communist regimes" to understand what "success" means to you ... I lived part of my life in a country that built "developed socialism" and paved the way to "communism", and I will tell you this - I regret the lost years "in a successful mode", and I perfectly remember "all the successes" and "achievements" that will make your hair stand on end on your head ...

LOL.. even one example is enough for me. I have talked to some of my friends who are ardent supporters of the communist party. When I ask them why socialist countries such as Cuba and Venezuela are in such poor state, they tell me that these countries are not "real" communist/socialist countries. They provide the example of New Zealand, Denmark, Sweden.etc. The claim is that the ruling parties in these countries follow socialism, which is far from reality. If these countries actually had a socialist economy, then they would be as worse as Zimbabwe or Somalia.

[DrBeer]

"there are many economically successful communist regimes" - do you have such a subtle sense of humor? Or such fat fantasies? No offense - you can give 1-2 examples from "successful communist regimes" to understand what "success" means to you ... I lived part of my life in a country that built "developed socialism" and paved the way to "communism", and I will tell you this - I regret the lost years "in a successful mode", and I perfectly remember "all the successes" and "achievements" that will make your hair stand on end on your head ...

I'm not a communist, but I can give you one example: "China" isn't an economically successful communist country? Of course, I am not talking about politics here, but about the economy only. The Chinese political system is tyrannical and dictatorial, and there is a lot of injustice in the country, but economically, China is one of the major economic powers in the world and ranks second directly after the United States:

Nominal GDP Rankings by Country
What are the largest economies in the world? According to the International Monetary Fund, these are the highest ranking countries in the world in nominal GDP:

1 - United States (GDP: 20.49 trillion)
2 - China (GDP: 13.4 trillion)
3 - Japan: (GDP: 4.97 trillion)
4 - Germany: (GDP: 4.00 trillion)
5 - United Kingdom: (GDP: 2.83 trillion)

https://worldpopulationreview.com/countries/countries-by-gdp

Basically, I am not defending or talking about communism, but the meaning of my words is that communism is not the reason for the collapse of the economy, but rather the failed administration and corrupt governments.

Without the support of the West in 1990-2000+, there would have been no "success for China." Well, it is difficult to call the system, in its pure form, communist. This is a mixture of a totalitarian system, with elements of "manual economic freedom". But as we observe now, totalitarianism is beginning to regain its positions, and it will soon be difficult for "free business". State control and influence is already working, and there is still a smooth transition of management from private owners to state "henchmen"

[justdimin]

I am going to update this thread, so that it is not forgotten, because a parallel thread has appeared wanting to deny the obvious, and saying that hyperinflation in Venezuela has nothing to do with Communism.

The incompetent government in Venezuela is certainly partly to blame. But not exclusively. Venezuela has a long and troubled history due largely to its oil wealth. Communist states are a bad idea, but they don't tend to arise out of nowhere; they are a misguided attempt to fix the failures of the preceding system. I think it's overly simplistic to blame everything on the Red Menace. Reality tends to be coloured more in shades of grey.

That is exactly the part that capitalists always want to ignore. Communist regime in Venezuela lived for so many years, under Chavez they still had problems, not this much and they were handling well enough but it was not this bad, same goes for Cuba these days, Castro managed to make things a little bit more calm there, they might be behind the world in many things like cars, technology and entertainment but they all lived a healthy life with shelter and food for decades (after a huge trouble when revolution happened, it took a while to get there) but when Castro died, so did Cuban dream as well and now it sucks.

However, nobody talks about the fact that the puppets USA installed before these revolutions literally sold the nation, all the oils and everything were sold, given to American companies, and in return they were given trinkets, tiny fractions of what it worths. Which is why neither is good, a proper democracy what these nations need, not an American capitalist puppet, not a communist dictator, a democratic proper nation needs to be built.

[Sithara007]

Without the support of the West in 1990-2000+, there would have been no "success for China." Well, it is difficult to call the system, in its pure form, communist. This is a mixture of a totalitarian system, with elements of "manual economic freedom". But as we observe now, totalitarianism is beginning to regain its positions, and it will soon be difficult for "free business". State control and influence is already working, and there is still a smooth transition of management from private owners to state "henchmen"

Transition of ownership is from successful private individuals to political proxies. And this is not communism. In communism, the state controls everything, and not the individual. One example is the takeover of Yukos by the Russian government in 2004. Another example is the seizure of private business in Venezuela when Hugo Chavez was the president. This is not happening in China. In China the government understands that socialism/communism never works in real life and therefore they have come up with an authoritarian system which is combined with capitalism.

[DrBeer]

Without the support of the West in 1990-2000+, there would have been no "success for China." Well, it is difficult to call the system, in its pure form, communist. This is a mixture of a totalitarian system, with elements of "manual economic freedom". But as we observe now, totalitarianism is beginning to regain its positions, and it will soon be difficult for "free business". State control and influence is already working, and there is still a smooth transition of management from private owners to state "henchmen"

Transition of ownership is from successful private individuals to political proxies. And this is not communism. In communism, the state controls everything, and not the individual. One example is the takeover of Yukos by the Russian government in 2004. Another example is the seizure of private business in Venezuela when Hugo Chavez was the president. This is not happening in China. In China the government understands that socialism/communism never works in real life and therefore they have come up with an authoritarian system which is combined with capitalism.

Well, the example with YUKOS is generally not about communism - in Russia there is a mixture of banditry (domestic politics) and terrorism (foreign policy) ...
In China, everything is more complicated - there are communist ideas of the party, and totalitarianism, and the desire to be rich and respected, but not like Kim Jong-un, one among millions of half-dead vegetable citizens ... On the other hand, an experiment with economic "freedoms" in China showed that everything worked out, but on the other hand, some "wrong personalities" appeared - rich, influential, with some Western values ​​and a craving for freedom. And this is already "evil" for the ruling elite ... Therefore, they will now have to "tighten the screws" a little, and in some cases transfer some private businesses under state administration ... If the owners do not agree to play by the given rules

[bryant.coleman]

Well, the example with YUKOS is generally not about communism - in Russia there is a mixture of banditry (domestic politics) and terrorism (foreign policy) ...
In China, everything is more complicated - there are communist ideas of the party, and totalitarianism, and the desire to be rich and respected, but not like Kim Jong-un, one among millions of half-dead vegetable citizens ... On the other hand, an experiment with economic "freedoms" in China showed that everything worked out, but on the other hand, some "wrong personalities" appeared - rich, influential, with some Western values ​​and a craving for freedom. And this is already "evil" for the ruling elite ... Therefore, they will now have to "tighten the screws" a little, and in some cases transfer some private businesses under state administration ... If the owners do not agree to play by the given rules

After Xi Jinping came to power, there have been a tightening of government control, and this is not restricted to any particular region in China. Xinjing and Hong Kong are well publicized because the people there have supporters in western nations. But the same is happening in the other provinces as well. The Chinese regime has now realized that now they don't need to be dependent on the western investors to bring new business. So previously they were trying to paint a picture of a liberalized country allowing some democracy and that attempt has been abandoned now.

[mindrust]

It does not appear that Biden is willing to invade the country. Not for a humanitarian issue and not for oil. And the little opposition left in the country is too weakened by hunger to mount a revolution. .

Why would anybody even want to invade that crap hole?

It would turn out just like Afghanistan. You cannot fix these people.

Deleting zeros from a currency is just another way of saying "our currency is dead". Turkey did the same thing few years ago and the first "0" already came back.

[suzanne5223]

It does not appear that Biden is willing to invade the country. Not for a humanitarian issue and not for oil. And the little opposition left in the country is too weakened by hunger to mount a revolution. .

Why would anybody even want to invade that crap hole?

It would turn out just like Afghanistan. You cannot fix these people.

Deleting zeros from a currency is just another way of saying "our currency is dead". Turkey did the same thing few years ago and the first "0" already came back.

I think those that suggest Biden invade Venezuela because of their problem don't understand the roles the US government has played since the year 2017 when sanctioned people so that Maduro won't enrich himself through illegal mining and oil operations.
The problem of Venezuela is still the same thing political corruption and if no solution provides the country will still experience the same issue even after they issue crypto due to their communism level.

Having said that, it is not everything that the US government has to fix when the people themselves are not ready for the corrections.

[paxmao]

I am going to update this thread, so that it is not forgotten, because a parallel thread has appeared wanting to deny the obvious, and saying that hyperinflation in Venezuela has nothing to do with Communism.

The incompetent government in Venezuela is certainly partly to blame. But not exclusively. Venezuela has a long and troubled history due largely to its oil wealth. Communist states are a bad idea, but they don't tend to arise out of nowhere; they are a misguided attempt to fix the failures of the preceding system. I think it's overly simplistic to blame everything on the Red Menace. Reality tends to be coloured more in shades of grey.

hyperinflation is characteristic of communist countries

If you are trying to make a general point that hyperinflation occurs exclusively in communist states, and is an inevitability, then this statement is misleading and untrue.

Certainly, +1 on that. Again, not a defender of communism as a viable and likeable way of governing and tbh I do not think Venezuela is truly communist. But, beyond that, you will certainly admit that Erdogan is not a communist leader precisely, and you may see how the Turkish Lira is in hyperinflation. A few countries in Africa y, this is me guessing, Afghan currency are on the same path and none of these could be classed as communist regimes.

Inflation is a hidden tax from an irresponsible government to their citizens.

It does not appear that Biden is willing to invade the country. Not for a humanitarian issue and not for oil. And the little opposition left in the country is too weakened by hunger to mount a revolution. .

Why would anybody even want to invade that crap hole?

It would turn out just like Afghanistan. You cannot fix these people.

Deleting zeros from a currency is just another way of saying "our currency is dead". Turkey did the same thing few years ago and the first "0" already came back.

"That people" of which I happen to know a few do not need fixing. They are mostly tired of their government and what they are doing to the country. Venezuela was one of the best LATAM economies not that long ago - a place that anyone would like to live in.

[Sithara007]

I think those that suggest Biden invade Venezuela because of their problem don't understand the roles the US government has played since the year 2017 when sanctioned people so that Maduro won't enrich himself through illegal mining and oil operations.
The problem of Venezuela is still the same thing political corruption and if no solution provides the country will still experience the same issue even after they issue crypto due to their communism level.

Having said that, it is not everything that the US government has to fix when the people themselves are not ready for the corrections.

LOL.. this is the last thing Biden need to do now.. Already the US federal debt is nearing $30 trillion mark. And out of that $10-$15 trillion was contributed by invasions in Iraq, Afghanistan, Libya.etc. Another invasion will just sink the American economy, as it is already reeling from the COVID 19 pandemic. I don't expect Biden to approve any such military intervention. He will stick with sanctions and embargoes. But there are rumors that Kamala will replace him sometime soon. She is more radical when compared to Biden, and I won't be surprised if she actually approves an external military intervention.

[mindrust]

...you will certainly admit that Erdogan is not a communist leader precisely, and you may see how the Turkish Lira is in hyperinflation. A few countries in Africa y, this is me guessing, Afghan currency are on the same path and none of these could be classed as communist regimes.

Inflation is a hidden tax from an irresponsible government to their citizens.

So like I said earlier it doesn't have anything to do with the regime. There is something else.

It does not appear that Biden is willing to invade the country. Not for a humanitarian issue and not for oil. And the little opposition left in the country is too weakened by hunger to mount a revolution. .

Why would anybody even want to invade that crap hole?

It would turn out just like Afghanistan. You cannot fix these people.

Deleting zeros from a currency is just another way of saying "our currency is dead". Turkey did the same thing few years ago and the first "0" already came back.

"That people" of which I happen to know a few do not need fixing. They are mostly tired of their government and what they are doing to the country. Venezuela was one of the best LATAM economies not that long ago - a place that anyone would like to live in.

I know there are decent people in Venezuela just like there are decent people in other countries. The problem is their number isn't enough. When the majority are turds, this is what you get.

[Sithara007]

I know there are decent people in Venezuela just like there are decent people in other countries. The problem is their number isn't enough. When the majority are turds, this is what you get.

Well.. this the sad reality. There are decent people in Venezuela, but most of them are in the process of migrating to other countries, or have already taken that step. For them, no hope remains in Venezuela. The regime has entered in to an agreement with the opposition, but I don't expect any big changes to the economic situation. If Venezuela remains in such dire straits even with crude oil prices of >$70 per barrel, then I don't think that they will ever make an economic recovery. For the near future, I can't foresee crude prices going up beyond this level.

[suzanne5223]

I think those that suggest Biden invade Venezuela because of their problem don't understand the roles the US government has played since the year 2017 when sanctioned people so that Maduro won't enrich himself through illegal mining and oil operations.
The problem of Venezuela is still the same thing political corruption and if no solution provides the country will still experience the same issue even after they issue crypto due to their communism level.

Having said that, it is not everything that the US government has to fix when the people themselves are not ready for the corrections.

LOL.. this is the last thing Biden need to do now.. Already the US federal debt is nearing $30 trillion mark. And out of that $10-$15 trillion was contributed by invasions in Iraq, Afghanistan, Libya.etc. Another invasion will just sink the American economy, as it is already reeling from the COVID 19 pandemic. I don't expect Biden to approve any such military intervention. He will stick with sanctions and embargoes. But there are rumors that Kamala will replace him sometime soon. She is more radical when compared to Biden, and I won't be surprised if she actually approves an external military intervention.

Agree with what you said because the US has enough on their plate already and don't they need to add more. But, let me get this straight. Are you Kamala to replace Biden as the President?
What I read is that lawmakers wrote a letter to Biden to let Kamala take the role of controlling the illegal immigration at the southern border.

[Kakmakr]

I feel really bad for the people who are living in Venezuela, but Capitalism cannot thrive.. if they cannot show that their system is better. The  capitalists brag about it's success, but it's success is built on a stack of cards called debt. It is only through tax bailouts and the clever manipulation of those economies that they portrait a smoke screen of wealth.

The sad fact is that the majority of capitalists are a small number of people compared to the rest of the population. There are a huge gap between the rich and the middle class and the poor people in these economies. (The Covid epidemic showed the cracks in this debt driven capitalist economies, with a lot of these people losing their businesses within a month of lockdowns)

[bryant.coleman]

Agree with what you said because the US has enough on their plate already and don't they need to add more. But, let me get this straight. Are you Kamala to replace Biden as the President?
What I read is that lawmakers wrote a letter to Biden to let Kamala take the role of controlling the illegal immigration at the southern border.

Biden doesn't look fit to be the president of the United States. I don't believe that he has dementia, as the GOP House members would like to argue, but he is not looking to be in good state. So it is just a matter of time before Kamala replaces him as the POTUS. Actually it is like killing two birds with one stone. Kamala is so radical and she is almost unelectable. So it will be good for her if she becomes the POTUS without an election. And hopefully in the next two years, she can create a moderate image for herself and that may enable her to edge past the GOP candidate in 2024 (Ron DeSantis?).

[DrBeer]

"there are many economically successful communist regimes" - do you have such a subtle sense of humor? Or such fat fantasies? No offense - you can give 1-2 examples from "successful communist regimes" to understand what "success" means to you ... I lived part of my life in a country that built "developed socialism" and paved the way to "communism", and I will tell you this - I regret the lost years "in a successful mode", and I perfectly remember "all the successes" and "achievements" that will make your hair stand on end on your head ...

LOL.. even one example is enough for me. I have talked to some of my friends who are ardent supporters of the communist party. When I ask them why socialist countries such as Cuba and Venezuela are in such poor state, they tell me that these countries are not "real" communist/socialist countries. They provide the example of New Zealand, Denmark, Sweden.etc. The claim is that the ruling parties in these countries follow socialism, which is far from reality. If these countries actually had a socialist economy, then they would be as worse as Zimbabwe or Somalia.

A comfortable position for your opponents
By the way, I noticed that many supporters of utopian concepts, that if something goes wrong with them, according to their plans, the guilty one is immediately found. As a result, the picture they have is "it was not me who shit in my pants, it was someone else who shit in my pants ..."
Before realizing that the socialist fantasy vanished into thin air, the same countries were the "rotting west", and then so oops - someone shit in these dreamers' pants, broke their socialism and built it, quickly, in New Zealand, Sweden and other countries! They are funny!