Click to be Added / Removed.
Posted on 01/25/2014 6:03:31 AM PST by Errant
CARACAS, Venezuela (AP) -- President Nicolas Maduro's government is slashing the amount of U.S. dollars Venezuelans traveling to Florida and other popular destinations take with them under decade-old currency controls.
Travelers just to Florida will be allowed to charge a maximum of $700 annually on their Venezuelan credit cards and will be allowed to buy no more than $300 in cash. That compares with limits of $2,500 in credit and $500 in cash they were previously allowed for trips to Florida, an amount that will be maintained for the remaining 49 US states.
The restrictions published Friday in the Official Gazette follow a partial devaluation of the bolivar that has made it costlier for Venezuelans to travel abroad and which the government hopes will help safeguard a dwindling local dollar supply.
(Excerpt) Read more at finance.yahoo.com ...
Ever been to downtown Miami? Or gone to MIA and seen all the south americans who came with empty suitcases leaving with a dozen full of products bought here. It’s astounding the wads of cash they come in with and the amount of goods they leave with. Lots cheaper to buy the stuff here. (At least it used to be.)
Morphing into Cuba …
Lots of Brazilians come to Orlando and stock up...esp electronics. There are Brazilian owned shops in Orlando that cater mainly to Brazilians
Not sure if the Venezuela changes affect US that much...their economy has been bad for awhile
30 years ago, my (ex)wife worked at Neiman-Marcus at the Galleria in Houston. She would tell me stories about Mexican women who came on week long ‘shopping vacations’ and it was not uncommon for some of them to spend $40,000.00 just on cosmetics.
Some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it, the BBC has learnt."
...of the government, by the government, for the government...
Seems to me they need some Nicolae Ceaușescu in Venezuela...
"#3 Widespread shortages, looting and accelerating inflation are also causing huge problems in Venezuela...
Economic mismanagement in Venezuela has reached such a level that it risks inciting a violent popular reaction. Venezuela is experiencing declining export revenues, accelerating inflation and widespread shortages of basic consumer goods. At the same time, the Maduro administration has foreclosed peaceful options for Venezuelans to bring about a change in its current policies.
President Maduro, who came to power in a highly-contested election last April, has reacted to the economic crisis with interventionist and increasingly authoritarian measures. His recent orders to slash prices of goods sold in private businesses resulted in episodes of looting, which suggests a latent potential for violence. He has put the armed forces on the street to enforce his economic decrees, exposing them to popular discontent."
Ugh. And we are about to eat breakfast. The guy in the blue tie is trying to turn his country into Cuba, too.
In the early 80’s my buds and I would vacation down in Montego Bay. We would go to Reggae Sunsplash.
We brought jeans and toothpaste with us to sell to the locals. By the time we got to our hotel room, the bellhop had everything sold.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
