Venezuela's Political Disaster - December 14, 2007
Please know that the Reuters article "Vuitton-clad Venezuela minister spouts socialism" says "Riding a boom in oil prices, middle-class and wealthy Venezuelans are on a spending spree, guzzling fine whiskies and snapping up luxury cars. Poorer Venezuelans also have benefited, with subsidies driving a spike in demand for basic products."
However, this is inaccurate! Please know that "only those who support Chavez" have access to foreign currencies. The general working public does not, and has to struggle with the government agency Comision de Administracion de Divisas - CAVIDI. Cavidi's Internet site usually works on a sixty-percent capacity blocking a large percentage of those interested in business trading to spend days trying to access the infamous site. Then, there are major limitations to how much foreign currency regular citizens and business people can obtain on a yearly basis. As I understand, citizens have a maximum of $4,000 (or $5,000 now) a year which has to be pre-approved by the government. In addition that Chavez continues to devalue the abused Venezuelan currency. Just recently he removed several zeros, but it is very weak.
What in the world is wrong with Reuters? First they announced that Chavez was winning at around 5:20 PM on December 2, and then now Reuters says that middle-class and wealthy Venezuelans are on a spending spree. Hummm!
Just for the record some of Chavez's supporters have been seen on major shopping sprees in New York City and Paris, France during official business trips. I have also seen those outspokenly supporters of Chavez buying so many goods in Washington, DC that they had to struggle how to bring all those newly acquired items on the aircraft. However, the regular people can not access that kind of money. So, it is just not fair that Chavez only leads for those who support him. Also, I thought the infamous and very rich Chavez says to the poor that it is bad to be rich.
My blog is: http://maruangarita.blogspot.com/