Chavez threatens bank takeover

Comrade Hugo is threatening to takeover banks that are balking at giving out farm loans at government mandated rates.

Naturally the government mandated interest rate (15%) is lower than the rate of inflation in VE (22%). Buy high, sell low - make your profit in volume.

I had previously estimated his completely wrecking the joint at about 5 years. I may have to revise that estimate downward. Its looking more like about 3 years now before the place starts to resemble Zimbabwe.

"Anyone can stay in business losing money if you just lose it fast enough" -- Shit Adam Smith Said Vol 1, chapter 3.

UPDATE
Chavez is also blaming food shortages on smuggling and "contraband" being shipped to neighboring countries where the stuff can be sold for considerably more than locally where price controls apply. Naturally, he blames "greedy retailers" for this and threatens deployment of the military to the borders to contain the smuggling operations.

Note to Hugo: Hugo you ignorant slut -- its obviously your own corrupt military giving the smugglers protection for kickbacks. You don't even know how your own culture operates you fucking moron. Retailers may be smuggling some, but I'm willing to bet a donut that the bulk of it is moving straight out of the farm fields and over the borders. The poor campesinos you love so much who voted you in aren't quite as stupid or dedicated to "the revolution" as you think they are.

posted by Purple Avenger at 08:06 PM

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