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This is your money on socialism


15 Responses to “This is your money on socialism”

  1. FiftycalTX Says:

    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.

  2. FiftycalTX Says:

    Oh and by tomorrow, you will need TWICE as much fiat make believe “money” to equal $1.

  3. Lyle Says:

    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.

  4. FiftycalTX Says:

    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.

  5. Tim Says:

    That’s some cheap-ass toilet paper, lads!

    Whut will they think of next?…..

  6. Ron W Says:

    @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.

  7. Lyle Says:

    @FiftycalTX; Same disease, different stage in the progression. That’s all I said.

  8. Robert Says:

    Imagine being in line to buy something and the cashier takes out one of those counterfeit detection pens and starts checking all the bills?

  9. rickn8or Says:

    Robert, like I used to say when I worked on cash-handling equipment, “Anyone who counterfeits a dollar bill lacks ambition.”

  10. rd Says:

    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.

  11. rd Says:

    IOW, after they devalue the bolivar, each of those 100 bolivar notes will be officially worthless, not just practically useless.

  12. Tim Says:

    “….going to knock three zeros off the value of the [insert currency here]….”

    It’s just communist tradition.

  13. John Hardin Says:

    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…

  14. JTC Says:

    @ 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.

  15. Sammy Finkelman Says:

    Currency is not good enough for toilet paper.

    See the picture.