Chavez devalues currency, intercepts american military jet

[teacherone]

Venezuela's Chavez devalues currency (http://www.reuters.com/article/idUSTRE60809W20100109)


CARACAS (Reuters) - President Hugo Chavez devalued Venezuela's bolivar currency on Friday, attempting to resuscitate local production but running the risk of worsening inflation in the South American oil-exporter's flagging economy.

Chavez says Venezuela jets intercepted U.S. plane (http://www.reuters.com/article/idUSTRE6080BB20100109)


CARACAS (Reuters) - President Hugo Chavez said he ordered two F-16 jets to intercept a U.S. military plane that twice entered Venezuelan skies on Friday, but Washington said none of its planes flew over the South American country's airspace.

[FindLiberty]

Venezuela: Chavez' Got Oil?

Yes indeed, any natural (oil) resource attracts trouble like a magnet.

[hugolp]

Venezuela's Chavez devalues currency (http://www.reuters.com/article/idUSTRE60809W20100109)


CARACAS (Reuters) - President Hugo Chavez devalued Venezuela's bolivar currency on Friday, attempting to resuscitate local production but running the risk of worsening inflation in the South American oil-exporter's flagging economy.

The sad thing is that the USA should be laughing at this attemp: "Increasing production through currency devaluation? Are you joking?" But it is exactly what the USA itself its doing, like any other socialist country. Comunist Rusia colapsed under a inflationary crisis as well.

The statist allways try to devaluate the currency to avoid facing the real problems, disregarding the negative effects that has for the people and in the economy. And they keep doing it until finally the currency collapses.

[Cowlesy]

Apparently people are rushing to stores because they're finding out they've just had their wealth divided by 2 if they held cash.


* Chavez popularity could suffer after devaluation

* Venezuelans rush to shops anticipating price hikes

* Inflation will jump this year (Recasts with color, adds details, background


By Frank Jack Daniel and Eyanir Chinea

CARACAS, Jan 9 (Reuters) - Venezuelans rushed to the shops on Saturday, fearful of price rises after a currency devaluation that will let President Hugo Chavez boost government spending ahead of an election but feeds opposition charges of economic mismanagement.

http://www.reuters.com/article/idUSN096521320100109

[jclay2]

This is great. Now that a large portion of private wealth has been transferred to the government, the money can be redistributed to the poorest and worst off in society. Now there is a level playing field for all!

/end sarcasm Double Face Palm........Morons:(

[Zippyjuan]

Inflation is already 27%. Chavez continues to demonstrate that he knows nothing about what he is doing. Unfortunately he likes to fire anybody who dares to tell him the truth about how things are going.

[HOLLYWOOD]

The Irony...

Chavez approves intercept of American Navy P3 electronic surveillance aircraft with 2 American made F-16 fighters.

The MIC is having a field day around the planet.