An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Pages
▼
Pages
▼
Saturday, March 9, 2019
Max Blumenthal searches for communist dictatorship at Venezuelan luxury mall
They say they Maduro is running a communist dictatorship in Venezuela. But hey, that socialism looks good to me! Shame about the toilet roll, though.
The Grayzone's Max Blumenthal investigated Venezuela's "humanitarian crisis" in a luxury mall in a rich pro-opposition neighborhood, where he looked for the "authoritarian socialism" that Trump and the corporate media talk so much about.
The point is that US sanctions, embargoes, and blockades are specifically designed to hurt Venezuela's lower classes, while sparing Venezuela's affluent whites.
It's the same with all imperialist warfare. If affluent whites start to feel the pain, they will turn against the neoliberal Empire, and against their own oligarchs.
The war on Venezuela is a war for oil and for WHITE SUPREMACY. The USA wants to put Venezuela’s whites back into political office so they can one again enslave everyone else. This enslavement is called "democracy."
I'll take that as "most people can't afford to buy anything" because of central bank money dilution and price controls while US sanctions have been additionally harmful".
Obviously, a gold backed monetary system would be inflation-free. The horror.
Jews and their toadies want Ilhar Omar silenced for calling the AIPAC lobby a lobby, and also for being the ONLY member in the 535-member US Congress who has specifically denounced the US war on Venezuela’s poor.
It was good to see her grill the mass-murdering psychopath Elliot Abrams.
“Mr. Abrams, in 1991 you pleaded guilty to two counts of withholding information from Congress regarding the Iran-Contra affair, for which you were later pardoned by President George H.W. Bush. I fail to understand why members of this committee or the American people should find any testimony you give today to be truthful.”
“If I could respond to that —”
“It wasn’t a question.”
This was a new experience for Abrams, who is used to politicians groveling at his feet.
Nancy Pelosi now faces a dilemma. Everyone is screaming at Pelosi to purge Ilhan Omar, plus Rashida Tlaib, and Alexandria Ocasio-Cortex, but if Pelosi does that, she will anger a lot of women on the Democrat side, plus black members of Congress.
Pelosi, 79, looks like she’s about to have a stroke from the pressure.
Ms. Omar is smart. She kept her mouth shut while she was defeating the Jews who demanded that the US House once again pledge its loyalty to the Chosen. In the end the Resolution condemned “hate speech” against Jews and Muslims. This was a first. Trump called it “disgusting.”
Jewish rage began even before that, when Rep. Rashida Tlaib said she wanted to read the seven-page resolution before she voted on it. This too was a first, and it was outrageous. Ms. Tlaib clearly didn't know how things are done in Congress. Normally Congress members don’t read anything to do with Israel. They just sign the papers without asking any questions. Whatever Israel wants, Israel gets.
Trump and the Republicans are calling all Democrats “anti-Semitic,” but this isn’t working, since House Democrats include 24 Jews, while House Republicans include only 2 Jews.
Regarding Venezuela, the USA usually precedes a shooting war with an economic war. Before invading Iraq, the USA imposed sanctions that killed half a million Iraqi children. Now it’s Venezuela’s turn. U.S. banking institutions have stolen hundreds of billions of dollars in Venezuelan accounts and transferred the funds into accounts payable to puppet Guaidó. The Bank of England stole $1.3 billion worth of Venezuela’s gold. Elliot Abrams has threatened to target any nation or any bank worldwide that does business with the Maduro government.
Maduro had better do something quick, because the Empire will keep increasing the pressure.
"But what percentage of the population can afford to shop there?"
About the same as can afford to shop at Oscar de la Renta and Chanel. Income distribution now is about the same as it was in the historical days of the "great" robber barons and the gold standard.
RODDIS™ 100% wrong every time guaranteed or your gold back
"Obviously, a gold backed monetary system would be inflation-free. The horror."
Austrian economic newletter publishers sell their advice in exchange for US dollars. Gold and silver dealers want to be paid in $US for their coins and bars. Even "John Williams' Shadow Government Statistics" subscription costs $175.00, but you cannot pay in gold. Why are people willing to exchange their labor and gold coins for US dollars, especially those who think paper money is hopelessly flawed?
It appears even people who advocate a gold based monetary system perfer $US (or your paper money currency of choice). Go figure?
"Why are people willing to exchange their labor and gold coins for US dollars, especially those who think paper money is hopelessly flawed?" ~ Vincent
Because they want more paper money.
Warren Buffet says (and I agree) that all gold traders are hucksters. The snake oil salesmen say that dollars are worthless, and they sell snake oil to get more dollars.
A gold standard is not a guarantee of price stability. It is simply a promise made “out of thin air” to keep the supply of money anchored to the supply of gold. To consider how tenuous such a promise can be, consider the following example. On April 5, 1933, President Franklin D. Roosevelt ordered all gold coins and certificates of denominations in excess of $100 turned in for other money by May 1 at a set price of $20.67 per ounce. Two months later, a joint resolution of Congress abrogated the gold clauses in many public and private obligations that required the debtor to repay the creditor in gold dollars of the same weight and fineness as those borrowed. In 1934, the government price of gold was increased to $35 per ounce, effectively increasing the dollar value of gold on the Federal Reserve’s balance sheet by almost 70 percent. This action allowed the Federal Reserve to increase the money supply by a corresponding amount and, subsequently, led to significant price inflation.
As I have explained countless times, the "gold standard" was a gimmick that politicians used when they wanted to falsely claim that there was "no money" for social programs that helped average people.
Politicians ignored the "gold standard" whenever they wanted to create money out of thin air for wars (e.g. World War I and II).
During the 1930s depression, no US government agency ever went "broke," since -- then and now -- the US government created its spending money out of thin air, irrespective of any "gold standard."
Nixon finally did away with the "gold standard" nonsense via Executive Order 11615 (15 Aug 1971).
But what percentage of the population can afford to shop there?
ReplyDeleteThe point is that US sanctions, embargoes, and blockades are specifically designed to hurt Venezuela's lower classes, while sparing Venezuela's affluent whites.
ReplyDeleteIt's the same with all imperialist warfare. If affluent whites start to feel the pain, they will turn against the neoliberal Empire, and against their own oligarchs.
The war on Venezuela is a war for oil and for WHITE SUPREMACY. The USA wants to put Venezuela’s whites back into political office so they can one again enslave everyone else. This enslavement is called "democracy."
I'll take that as "most people can't afford to buy anything" because of central bank money dilution and price controls while US sanctions have been additionally harmful".
ReplyDeleteObviously, a gold backed monetary system would be inflation-free. The horror.
Jews and their toadies want Ilhar Omar silenced for calling the AIPAC lobby a lobby, and also for being the ONLY member in the 535-member US Congress who has specifically denounced the US war on Venezuela’s poor.
ReplyDeleteIt was good to see her grill the mass-murdering psychopath Elliot Abrams.
“Mr. Abrams, in 1991 you pleaded guilty to two counts of withholding information from Congress regarding the Iran-Contra affair, for which you were later pardoned by President George H.W. Bush. I fail to understand why members of this committee or the American people should find any testimony you give today to be truthful.”
“If I could respond to that —”
“It wasn’t a question.”
This was a new experience for Abrams, who is used to politicians groveling at his feet.
Nancy Pelosi now faces a dilemma. Everyone is screaming at Pelosi to purge Ilhan Omar, plus Rashida Tlaib, and Alexandria Ocasio-Cortex, but if Pelosi does that, she will anger a lot of women on the Democrat side, plus black members of Congress.
Pelosi, 79, looks like she’s about to have a stroke from the pressure.
Ms. Omar is smart. She kept her mouth shut while she was defeating the Jews who demanded that the US House once again pledge its loyalty to the Chosen. In the end the Resolution condemned “hate speech” against Jews and Muslims. This was a first. Trump called it “disgusting.”
Jewish rage began even before that, when Rep. Rashida Tlaib said she wanted to read the seven-page resolution before she voted on it. This too was a first, and it was outrageous. Ms. Tlaib clearly didn't know how things are done in Congress. Normally Congress members don’t read anything to do with Israel. They just sign the papers without asking any questions. Whatever Israel wants, Israel gets.
Trump and the Republicans are calling all Democrats “anti-Semitic,” but this isn’t working, since House Democrats include 24 Jews, while House Republicans include only 2 Jews.
Regarding Venezuela, the USA usually precedes a shooting war with an economic war. Before invading Iraq, the USA imposed sanctions that killed half a million Iraqi children. Now it’s Venezuela’s turn. U.S. banking institutions have stolen hundreds of billions of dollars in Venezuelan accounts and transferred the funds into accounts payable to puppet Guaidó. The Bank of England stole $1.3 billion worth of Venezuela’s gold. Elliot Abrams has threatened to target any nation or any bank worldwide that does business with the Maduro government.
Maduro had better do something quick, because the Empire will keep increasing the pressure.
"Obviously, a gold backed monetary system would be inflation-free. The horror."
ReplyDeleteRoddis reminds me of a line from the movie "Lawrence of Arabia."
"Be thankful that when God made you a fool, he gave you a fool's face to match."
"But what percentage of the population can afford to shop there?"
ReplyDeleteAbout the same as can afford to shop at Oscar de la Renta and Chanel. Income distribution now is about the same as it was in the historical days of the "great" robber barons and the gold standard.
RODDIS™
100% wrong every time
guaranteed or your gold back
“Obviously, a gold backed monetary system would be inflation-free.“
ReplyDeleteAnd how would that help the Venezuela situation where sanctions stop transactions and gods entering the country?
"Obviously, a gold backed monetary system would be inflation-free. The horror."
ReplyDeleteAustrian economic newletter publishers sell their advice in exchange for US dollars. Gold and silver dealers want to be paid in $US for their coins and bars. Even "John Williams' Shadow Government Statistics" subscription costs $175.00, but you cannot pay in gold. Why are people willing to exchange their labor and gold coins for US dollars, especially those who think paper money is hopelessly flawed?
It appears even people who advocate a gold based monetary system perfer $US (or your paper money currency of choice). Go figure?
"Why are people willing to exchange their labor and gold coins for US dollars, especially those who think paper money is hopelessly flawed?" ~ Vincent
ReplyDeleteBecause they want more paper money.
Warren Buffet says (and I agree) that all gold traders are hucksters. The snake oil salesmen say that dollars are worthless, and they sell snake oil to get more dollars.
Roddis is an eager buyer.
Sounds like an even exchange to me: send me your "worthless dollars" for my worthless advice.
ReplyDeleteA gold standard is not a guarantee of price stability. It is simply a promise made “out of thin air” to keep the supply of money anchored to the supply of gold. To consider how tenuous such a promise can be, consider the following example. On April 5, 1933, President Franklin D. Roosevelt ordered all gold coins and certificates of denominations in excess of $100 turned in for other money by May 1 at a set price of $20.67 per ounce. Two months later, a joint resolution of Congress abrogated the gold clauses in many public and private obligations that required the debtor to repay the creditor in gold dollars of the same weight and fineness as those borrowed. In 1934, the government price of gold was increased to $35 per ounce, effectively increasing the dollar value of gold on the Federal Reserve’s balance sheet by almost 70 percent. This action allowed the Federal Reserve to increase the money supply by a corresponding amount and, subsequently, led to significant price inflation.
ReplyDeleteSource: St. Louis Fed
RODDIS is a clueless buffoon.
As I have explained countless times, the "gold standard" was a gimmick that politicians used when they wanted to falsely claim that there was "no money" for social programs that helped average people.
ReplyDeletePoliticians ignored the "gold standard" whenever they wanted to create money out of thin air for wars (e.g. World War I and II).
During the 1930s depression, no US government agency ever went "broke," since -- then and now -- the US government created its spending money out of thin air, irrespective of any "gold standard."
Nixon finally did away with the "gold standard" nonsense via Executive Order 11615 (15 Aug 1971).
I don't if this is just a conspiracy theory, but they say they the central banks are lying about the amount of the gold they have.
ReplyDelete