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Venezuela Stops Accepting Dollars; The Beginning of the Collapse of the Dollar as Reserve Currency?
EconomicPolicyjournal.com ^ | September 14, 2017 | Robert Wenzel

Posted on 09/14/2017 9:33:08 AM PDT by PPSman

In retrospect, this could be the most important economic event of 2017.

The oil-rich country of Venezuela has stopped accepting the U.S. Dollar as payment for oil.

Last week President Maduro warned that the country would this week ‘free’ itself from the US dollar. “Venezuela is going to implement a new system of international payments and will create a basket of currencies to free us from the dollar.”

Yesterday Venezuela temporarily suspended the sale of U.S. dollars through its Dicom auction system. This (and other moves) was in response to U.S. sanctions put in place by the Trump administration.

(Excerpt) Read more at economicpolicyjournal.com ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: brics; dollar; dollaroil; gold; goldbugs; oil; oildollar; reservecurrency; venezuela
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To: PPSman

Let’s see how that works for him....I bet the Dollar lasts longer than the socialist republic of Venezuela...


21 posted on 09/14/2017 9:50:35 AM PDT by trebb (Where in the the hell has my country gone?)
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To: PPSman
Venezuela Stops Accepting Dollars

Great...pay them in pennies.

22 posted on 09/14/2017 9:51:45 AM PDT by Lou L (Health "insurance" is NOT the same as health "care")
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To: PPSman

LOL Yes Venezuala is going to destroy the dollar. HAHAHA


23 posted on 09/14/2017 9:54:44 AM PDT by DannyTN
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To: PPSman

Let’s see....uh what will collapse first...the U.S. Dollar or Venezuela...?


24 posted on 09/14/2017 9:55:09 AM PDT by G Larry (There is no great virtue in bargaining with the Devil)
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To: PPSman

Maduro will be able to feed his people yuan stew. Mmmm....


25 posted on 09/14/2017 9:55:31 AM PDT by Chaguito
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To: PPSman

Sure...the USA should measure its economic viability by the opinions of Venezuela.


26 posted on 09/14/2017 9:58:08 AM PDT by xzins ( Support the Freepathon! Every donation is impaortant.)
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To: Salvavida
Didn't Qadaffi float the same.........??

So did Saddam Hussein
27 posted on 09/14/2017 9:58:34 AM PDT by SpinnerWebb (Winter is coming)
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To: PPSman

Eat Maduro!

That is a good rallying cry for the protesters.


28 posted on 09/14/2017 10:06:37 AM PDT by joshua c (To disrupt the system, we must disrupt our lives)
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To: edwinland

I agree with your assessment-

now on the “food front” -

“Venezuelan President Nicolás Maduro has devised a “rabbit plan” to counter the economic war he says is being waged against his government by “imperialist forces”.

The president urged crisis-hit Venezuelans to breed rabbits and eat them as a source of animal protein.

Venezuela is facing record levels of child malnutrition amid persistent food shortages.

An opposition politician said the plan was “a bad joke”.”

can’t make this up- did the castro brothers breed rabbits too?- maybe offer this plan to the Norks?

LOL


29 posted on 09/14/2017 10:07:46 AM PDT by mj1234
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To: PPSman

Hi.

Welcome to FR.

Venezuela? Lol.

The Chicoms can try, but will fail.

I can give many reasons why, but only one today...

Have you ever traveled the world? No matter where you go (even N. Korea), you can spend the dollar. Although, if you spend it in N. Korea, you are subject to the death penalty.

5.56mm


30 posted on 09/14/2017 10:08:40 AM PDT by M Kehoe
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To: PPSman

Why don’t you post the entire article,Mr.W.?

.


31 posted on 09/14/2017 10:14:04 AM PDT by Mears
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To: PPSman

One of the most ridiculous click-bait headlines I’ve ever seen.


32 posted on 09/14/2017 10:19:18 AM PDT by Hawthorn
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To: I want the USA back

Authors rarely write the headlines. Editors do. More than one stupid person was involved.


33 posted on 09/14/2017 10:26:42 AM PDT by outofsalt ( If history teaches us anything it's that history rarely teaches us anything)
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To: Magnum44

Not sure, but there was a strange Spanish speaking man in the toy section at Wal-Mart earlier buying up all the Monopoly games.


34 posted on 09/14/2017 10:29:32 AM PDT by Made In The USA (Next thing you know, 'ol Jed's a millionaire)
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To: Red Badger

For decades, Lagoven asphalt flux (for making shingles) from Venezuela was the premier base product for roofing materials in the US. The Vens shipped thousands of tons of the stuff to the port of Mobile and east coast terminals, always commanding top dollar for what was THE best roofing flux.

Then, Chavez had a better idea. Instead of earning top dollar in the US, he blended the stuff of and sent it China for a lower netback. Brilliant !


35 posted on 09/14/2017 10:33:55 AM PDT by Eric in the Ozarks (Baseball players, gangsters and musicians are remembered. But journalists are forgotten.)
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To: PPSman

Hahaha. A idiot bus driver (now dictator) of a country where people have already eaten their pets and are now eating flamingos and anteaters does his? What a loser country full of socialist idiots who elected a malignancy. They deserve their loser fate. I laugh at their oil reserves and their gold reserves which continue to be underdeveloped by these fools.


36 posted on 09/14/2017 10:36:05 AM PDT by hal ogen (First Amendment or Reeducation Camp?)
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To: Red Badger

Vanadium is also fun for refinery catalyst.


37 posted on 09/14/2017 10:39:29 AM PDT by Ozark Tom
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To: PPSman

Leftist journal...check.
Promoting failed socialist government as Oil Rich to spin...check.
Failed Government trying to hamper its internal dissidents...check.
Who gives a crap...check.


38 posted on 09/14/2017 10:40:20 AM PDT by KC Burke (If all the world is a stage, I would like to request my lighting be adjusted.)
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To: edwinland

From July 17/ 2017: The U.S. refiner industry has economic reasons to decrease import of Venezuelan heavy crude—Maduro wants everyone to believe the reduced export to the U.S. is a result of his policy moves.

“U.S. oil refiners pare exposure to Venezuelan crude imports”

https://www.reuters.com/article/us-usa-refiners-venezuela-idUSKBN1AC36M


39 posted on 09/14/2017 10:46:47 AM PDT by Ozark Tom
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To: mj1234

https://en.wikipedia.org/wiki/Protein_poisoning

“Rabbit Starvation”


40 posted on 09/14/2017 10:53:34 AM PDT by ltc8k6
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