Posted on 01/10/2010 3:44:37 PM PST by Lorianne
* Firms that raise prices will be handed over to workers
* Announces $1 bln fund to promote import substitution
Venezuela's Hugo Chavez ordered soldiers to seek out businesses that raise prices after a sharp devaluation of the bolivar currency last week, saying he will expropriate firms that engage in price gouging.
Chavez also created a $1 billion fund to jump-start the recession-hit, oil-reliant economy before elections in September when the opposition hopes to strip him of a parliamentary majority.
"Right now, there is absolutely no reason for anybody to be raising prices of absolutely anything," Chavez said on his weekly TV show, two days after announcing a dual exchange system for the weakened currency, which had been on a fixed exchange rate.
"I want the National Guard on the streets with the people to fight against speculation," Chavez said. "Publicly denounce the speculator and we will intervene in any business of any size."
(Excerpt) Read more at reuters.com ...
Ayn Rand had a name for this — commerce at the point of a gun.
Of course he’s looking at Cuba. And he’s seeing how long Castro’s been in office. Employment for life (and beyond, if certain rumors are true). Or do you really think he gives a damn about Venezuela and it’s people?
Isn’t it time for Sean Penn and Danny Glover to go down there and spread their wealth around to help out?
I can easily see Obama getting out our National Guard to STOP HYPER INFLATION. Both are idiotic.
Isn’t it time for Sean Penn and Danny Glover to go down there and spread their wealth around to help out?
I'm sure the 0b0z0 will make a great currency when our dollar collapses, too. 0b0z0 100 = $100,000,000,000,000.
a.k.a., typical Maryland voters...
I wished that Chavez and Obammy wouldn’t talk with a communist dialect.
Unless he gave a raise to the National Guard I don't think that these guys will be really happy with a 50% cut in buying power. If they can buy anything at all.
LOL... this is going to get interesting fast.
Methinks Hugo done screwed the pooch this time.
For the record, a Republican instituted wage and price controls in the Seventies
Thats why you can't let non taxpayers vote.
The Founders realized that, and warned against enfranchising those under 21, the poor, Women, and the stupid.
Those are the groups that have been enfranchised by constitutional amendment and the reason why marxists are in control of the United States.
This Republic will fall as a result, swinging wildly from capitalism to socialism, electing the likes of Jimmy carter, then Reagan, then Bush, then Clinton,the maniac Gore wins the popular vote, then Bush and now a communist crypto muslim named Hussein.
No sane electorate would swing so wildly.
When this Republic falls and something new rises in its place, the right to vote must be restricted to taxpayers and veterans ONLY.
One of O’s heroes - next to Castro ... and didn’t Cuba run out of toilet paper recently??
Just your typical socialist...
Dumb as a rock...
The something for nothing crowd always think these are great “ideas” but they always have the same result. Pain and suffering on a grand scale... The lesson never seems to be learned no matter how many times repeated...
Originally, only land owners had a vote.
And then,
Only land owners paid federal taxes.
Sure he looks at Cuba. The man is a semi god to some, president for life. The people are superfluous.
A sad ambition for a man. Such things kill the spirit.
Chavez will start a war with Colombia before he lets that happen.
Watching the slow motion descent into lunacy. Check back when their inflation hits 100%
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