Tuesday, July 20, 2010

A truly unneeded grave digging brings new lows in sycophancy

This exhumation will clear up the real causes of the death of the BsF [Venezuela currency, Bolivar Fuerte]
Tal Cual's Weil nails it again.  Last week we subjected to the horror of Bolivar's grave profanation.  All decided of course to create a major scandal to distract the public opinion of a scandal that should have caused the resignation of the government: the loss of at the very least 120,000 tons of food imported for the humble people of Venezuela.

You just need to visit the pages of El Universal today to convince yourself once and for all that the rotten food scandal is so big, affecting the govenremt so much tha they have entered in deep denial and are resorting to moving around Bolivar's bone in the vain hope that people will forget about "Pudreval" as PDVAL is now called. (1)

There you will read Navarro, ex education minister, ex university minister, constant failure wherever he has been placed and one of the most assiduous supporters of Chavez, never missing a cadena or political rally if he can manage it, to the point that one wonders if he even knows where his working desk is.
"Para nosotros, la exhumación es más importante que la olla podrida de los alimentos descompuestos (...) ¿Qué más importante que asegurarse que los restos sean preservados para siempre? ¡Es sumamente importante!" For us the exhumation is more important that the rotten media manipulation of the decomposed food stuff (...) What could be more important than making sure that the remains are preserved forever?  It is extremely important!
Of course Chavez, Navarro and others try to distract us from Pudreval.  When you do the math as Andres Rojas Jimenez did yesterday in EL Nacional, PDVAL would have lost 5.9 billion dollars.  That is, about 3% of Venezuela's oil income in 2008 and 2009, and assuming that the numbers offered by PDVSA are to be trusted.  But managing the country like PDVSA did with PDVAL, losing a 1% here or a 3% there is why Venezuela is under such deep shit today.  The very vaunted Bolivar Fuerte launched in 2007 at 2.15 to the dollar is now floating in the illegal market at around 8.5 to the dollar.  And with an inflation expected at the 40% level, it will probably hit 10 at the end of the year.

Indeed, we need to do the real exhumation, the ones that would explain where has all the money gone, the money we supposedly received in the biggest oil boom of our history, under the wasteful watch of Chavez.

1) When the food distribution scheme of Mercal started faltering Chavez announce the creation of PDVAL which in theory would be the producing arm of Mercal.  As PDVAL name indicates it was a subsidiary of PDVSA, the state oil monopoly.  As expected PDVAL drowned in a sea of incompetence and corruption which brought us at least 150,000 of rotten food in Venezuela.  If according to FAO figure you accept that 1 person consumes at least 7 Kg of food a month (there is water and cooking added, remember) then these 150,000 tons would have fed 21 million Venezuelans for a month, roughly 75% of the people of Venezuela.  And if you wish to account only for the 10 million that are close or at poverty level you could have fed them for at least two full months.

No wonder the Venezuelan wit calls PDVAL Pudreval, a pun that means roughly rottenVAL.


  1. Roger8:32 PM

    Lets not forget the commissions. Even 10 percent is Half a Billion Dollars!

  2. Anonymous8:35 PM

    The thing about PudreVal is that it perfectly encapsulates everything that is wrong with Chavez's Robolution.

    1) Chavez is trying to replace the private sector with the government, only to discover in the smelliest possible way that he simply lacks the capacity to do it. These idiots are unfit to run a panaderia (bakery) in a small town, let alone to manage the whole country's food chain.

    2) PudreVAL displays no only the spectacular levels of incompetence in the government, but also the corruption, because plenty of people made millions of dollars thanks to this whole mess.

    3) The Chavez robolution does not police itself. Ever. It has absolutely no intention of ever investigating anything or putting any of the culprits in jail, and it doesn't even bother pretending otherwise. Like with Maletagate, things are only illegal in Venezuela if they're done by the opposition.

  3. Roger

    Fear not, the commissions is included in the 5.9 billion. After all, PDVSA pays the commissions, it is just a question of paperwork.


Comments policy:

1) Comments are moderated after the sixth day of publication. It may take up to a day or two for your note to appear then.

2) Your post will appear if you follow the basic polite rules of discourse. I will be ruthless in erasing, as well as those who replied to any off rule comment.