This is your money on socialism

Heh:

That pile of cash is the Venezuelan equivalent of one US dollar. Behold the power of socialism. pic.twitter.com/fvo6vEb4sT

— Cam Edwards (@CamEdwards) July 24, 2018

Posted in uncategorized on July 25th, 2018 by SayUncle | RSS 2.0 |

15 Responses to “This is your money on socialism”

FiftycalTX Says:
July 25th, 2018 at 5:21 pm
SEE! Socialism DOES WORK! Equality prevails. The perfect socialist state. Of course the rulers just moved $750 MILLION in gold to Swiss banks. I guess that was their 401K in case things go sideways. But hey, socialists, why not “invest” in some Venezuelan bonds? I’m sure they have great interest rates. IF they ever pay. I just hope all those 100 bolivar notes are made on soft tissue paper like paper. That will end their shortage of toilet paper.
FiftycalTX Says:
July 25th, 2018 at 5:23 pm
Oh and by tomorrow, you will need TWICE as much fiat make believe “money” to equal $1.
Lyle Says:
July 25th, 2018 at 6:30 pm
Let’s not boast too much. Our Federal Reserve Notes are no more valuable than the paper they’re printed on. The difference is that we’re still all generally pretending they have value. In other words; our authoritarian system is not significantly different from theirs. Same disease. We’re merely at different stages of decay.
FiftycalTX Says:
July 25th, 2018 at 7:28 pm
Uh, sonny, Since I was born in 1951, U.S. currency has devalued about 900%. In the last TWO WEEKS, the bolivar has been devalued about 50,000%. IF that is “not significantly different” I want to know what schools you went to so people can avoid them.
Tim Says:
July 25th, 2018 at 9:23 pm
That’s some cheap-ass toilet paper, lads!

Whut will they think of next?…..
Ron W Says:
July 26th, 2018 at 10:17 am
@Lyle, correct about the FRN’s. I still have a couple of 1963 issue United States Notes which were backed by silver. Had that continued, the Fed would’ve eventually been put out of business in U.S. Probably a fatal E.O. To Treasury Dept by JFK, IMHO.
Lyle Says:
July 26th, 2018 at 5:27 pm
@FiftycalTX; Same disease, different stage in the progression. That’s all I said.
Robert Says:
July 26th, 2018 at 7:51 pm
Imagine being in line to buy something and the cashier takes out one of those counterfeit detection pens and starts checking all the bills?
rickn8or Says:
July 26th, 2018 at 8:19 pm
Robert, like I used to say when I worked on cash-handling equipment, “Anyone who counterfeits a dollar bill lacks ambition.”
rd Says:
July 27th, 2018 at 7:52 am
Maduro announced that they are going to knock three zeros off the value of the Bolivar early yesterday. IOW, a 10,000 bolivar note will be a 10 new bolivar note.

By the end of the day, he said they would knock five (5) zeros off instead.

And in September or October they will do it all over again.
rd Says:
July 27th, 2018 at 8:02 am
IOW, after they devalue the bolivar, each of those 100 bolivar notes will be officially worthless, not just practically useless.
Tim Says:
July 27th, 2018 at 9:10 am
“….going to knock three zeros off the value of the [insert currency here]….”

It’s just communist tradition.
John Hardin Says:
July 29th, 2018 at 2:06 pm
Like I said over at Joe’s place:

Ya gotta wonder whether printing the currency design on the bills reduces the value of the paper…
JTC Says:
July 30th, 2018 at 11:18 pm
@ Lyle,

Can’t disagree that notes (or for that matter as you have stated before, gold, silver, diamonds etc. etc.) as stores of value or modes of exchange are but symbols of perception and belief, dependent on everyone continuing to perceive and believe it is such.

And it is that continuing perception or belief that makes one currency relatively valuable and another valueless, based on actual historical reality. The only currencies to which that nebulous rule does not apply are consumable necessities like food, water, ammunition, etc. and while we might all like to live by barter of those it just don’t work that way.

So, while the principle may be the same regarding bolivars or dinars vs. US dollars, to say it is “not significantly different” is to say here is not significantly different than there. And of course that belies your argument completely.
Sammy Finkelman Says:
July 31st, 2018 at 5:25 pm
Currency is not good enough for toilet paper.

http://freakonomics.com/2008/12/18/freak-shots-when-money-goes-down-the-toilet

See the picture.