Friday, February 08, 2013

Devaluation today: 4,3 to 6,3 for 1 USD

Just announced. (more updates tonight)

It seems that the situation is so bad that they could not wait until after the oncoming presidential vote. Thus it could push the vote AFTER March 17, just a few hours after I say it would be March 17...  Sometimes this regime makes me feel like a weather vane.


The big question is what about the gigantic debt at 4,3? Will they honor it?

On other news: the SITME is suppressed, the only safety valve for those who needed legal dollars that were refused to them by CADIVI. What will be the next safety valve as it seems that dollars are going to be even more restricted! They are going to create yet another layer of bureaucracy to figure out who gets dollars.

Me thinks that this is the least possible devaluation they had to do to survive until the next election. Expect another devaluation after the election as the dollar should be at least at 8 today and after a campaign,  well, 10 would be the bottom line.

At any rate, yet another admission of the extraordinary failure of chavismo. When Chavez came to office the bolivar was around 0,5. Now it is 6,3. With the highest oil income in our history. You do the math. There is NO EXCUSE FOR CHAVISMO.

2 comments:

  1. kernel_panic5:17 PM

    "With the highest oil income in our history. You do the math. There is NO EXCUSE FOR CHAVISMO."

    "El pueblo" doesn't care, they have never had access to dollars, so why would they care about that? (that's whay they would think)

    El pueblo only relates "devaluation" with "more expensive", they fail (mostly) to see that a friggin lot is imported, even supplies for our local industry and in fact, it has a much bigger impact on them that what they think. "CADIVI is only for the capitalist elite, good to know that they are being screwed with this measure, asi, asi, asi es que se gobierna!"

    That's for one, on other points you have to admit that a lot of (stupid) people still worship this government because of it's "social labor", so, who gives a damn if dollars are 6,3 instead of 4,3 when they still have mision sean vagos?

    I laugh, not to cry, about what a chavista coworker once said, that "the government can get as many debt as it needs and do with the money what it wants, as long as it's done for EL PUEBLO". That's how they think, "chavez es mi papa"...

    Now, what I wonder is, what would "the next SITME" be? Seriously, I think that with SITME out of the picture, The Unspeakable will reach astonishing levels (ok, I'm exaggerating, but without a doubt, it will make it rise), because unless CADIVI gives all the dollars it's been asked, and gives them right away (which it wont), there's going to be some shortage, and we all know (but EL PUEBLO) what that means...

    ReplyDelete
  2. kernel_panic6:10 PM

    See what I'm talking about? :P

    http://www.elchiguirebipolar.net/08-02-2013/bcv-aumenta-un-465-moneda-a-la-que-igual-no-tendras-acceso/

    ReplyDelete

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