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#1

Posted 02 February 2019 - 01:42 AM

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The Forces That Could Plunge Venezuela Into Chaos

https://www.bloomber...uela-into-chaos

skynews-juan-guaido-nicolas-maduro_45602

From Juan Guaidó and U.S. sanctions to a starving population and protest, the country is rushing toward a breaking point.

Events are moving fast in Venezuela, and not in President Nicolás Maduro’s favor. Scattered protests in Caracas the night of his second inauguration, on Jan. 10, quickly grew into organized demonstrations as thousands heeded opposition leader Juan Guaidó’s call to march against the regime. At press time, Maduro remains in office, but he faces a litany of threats: the economy, which has been devastated by low oil prices; powerful international interests, including the U.S., which condemned his 2018 reelection as illegitimate; Guaidó, head of the National Assembly, who’s claimed the title of interim president until new elections can be called; and the military, whose loyalty Maduro needs above all else to hold on to power. The president made a show of courting the armed forces’ support and has sent security forces into areas of unrest. But every day Guaidó roams freely in Caracas, holding rallies and building a government in waiting, Maduro’s grip on power becomes more tenuous.

 

The Military

Guaidó supporters first fanned out to military bases and national guard stations around Caracas in the days after he declared himself president on Jan. 23. They carried copies of a law from the National Assembly granting amnesty to any member of the armed forces who defects to the anti-Maduro cause. So far the top brass has stood behind the commander-in-chief, who long ago secured their loyalty with lucrative prizes: the reins of Petróleos de Venezuela SA (PDVSA), the state-owned oil company; control of the ports; contracts for housing projects; and the rights to valuable mining and oil-services concessions.

It would be a surprise if military leaders broke ranks and moved against the authoritarian regime, says historian Tomás Straka of Andres Bello Catholic University in Caracas: “Their economic interests and vision are completely fused with Maduro’s.” Despite the outreach from the Assembly, they’ll be in trouble if he falls. Several high-ranking officers have been sanctioned by the U.S., accused by American prosecutors of graft, drug running, and other crimes.

Many in the rank and file also remain behind Maduro, at least publicly. More than a few were photographed burning the amnesty documents. Still, dissent has simmered since before Maduro’s tenure. A military coup deposed his predecessor and mentor, the late Hugo Chávez, for a few days in 2002. The mood among the soldiers has only soured since, as the economy has crumbled, with those down the chain of command struggling along with the rest of the population. They, too, have to deal with desperate shortages of food and medicine, blackouts, and water taps that run dry. There have been reports of desertions. Asked for their reactions to the amnesty offer over the weekend, some men in uniform patrolling the city, rifles slung over their shoulders, gave a wink or a thumbs-up.

 

The World

While key allies Russia and China continue to support Maduro, the pro-Guaidó faction swelled in just over a week to more than 20 countries, including Canada, Israel, and the U.K. In Latin America, 11 countries lined up to follow President Trump’s lead in pushing for regime change.

Among their motivations: More than 3 million people have fled Venezuela, according to the United Nations High Commissioner for Refugees, mainly to neighboring lands. “This isn’t merely a question of applying democratic principles, this is a question of countries bearing the brunt of the negative consequences,” says Benjamin Gedan, a former South America director at the White House’s National Security Council.

Not all in the region are on board. Mexico and Uruguay have called for de-escalation; Bolivia, Cuba, and Nicaragua have reiterated their support for Maduro. The European Union stopped short of giving Guaidó the nod, though it signaled it would do so if Venezuela didn’t schedule “free, transparent, and credible presidential elections” by the beginning of February.

Meanwhile, the U.S. has been assisting Guaidó in a kind of smoke-and-mirrors game of brinkmanship, insinuating that it may be building up a military force in Colombia to invade if necessary. Addressing the UN Security Council, U.S. Secretary of State Mike Pompeo was blunt. “Now it is time for every other nation to pick a side,” he said. “Either you stand with the forces of freedom, or you’re in league with Maduro and his mayhem.”

 

The Money

The Trump administration dealt its hardest blow yet to Maduro when it put new sanctions on PDVSA. Once Latin America’s largest producer, Venezuela is pumping less than North Dakota does these days, but oil sales remain its main source of revenue. Sanctions will effectively block the national oil company from exporting crude to the U.S. and crimp the regime’s cash flow. Its U.S. subsidiary, Citgo, will be allowed to continue operating, but all revenue will be held in accounts the Maduro regime can’t access. Guaidó has vowed to appoint his own boards to PDVSA and Citgo—a mostly symbolic gesture for now, but one that nevertheless adds to his aura of authority.

Pompeo took another step toward starving out Maduro on Jan. 29, granting Guaidó control over Venezuelan assets and property in U.S.-insured banks, including the Federal Reserve Bank of New York. (The State Department has declined to say how much money is in the accounts.) American officials also successfully lobbied the Bank of England to deny Maduro access to $1.2 billion in gold the Venezuelan government holds in London, stymieing its efforts to pull in funds from abroad.

Maduro’s government owes Russia and China billions of dollars in loan payments, but that’s unlikely to faze the sitting president. Since the Trump administration began slapping sanctions on Caracas in 2017, the government has defaulted on more than $9 billion in debt owed to bondholders, yet both creditors have been staunch so far in their support.

The real problem for Maduro is losing the ability to dole out money. The more of the economy Guaidó gains control over, the harder-pressed Maduro will be to keep key allies on his side. The military, for instance, is unlikely to stick around if he loses the power of the purse.

 

The People

Hungry, broke, and exhausted, Venezuelans are angrier than ever with Maduro. And after more than a year of silence in the wake of the mass demonstrations of 2017, Guaidó has reignited their passion for protest.

Almost two years ago, millions turned out and encountered tear gas and violence at the hands of security forces. Thousands were arrested during months of demonstrations, and hundreds died. This time the protests have been mostly peaceful. Security officers were out when Guaidó supporters again took to the streets of Caracas on Jan. 30, but they largely kept ranks as protesters marched past.

Earlier, Maduro launched a series of nighttime raids in the working-class neighborhoods and slums that were once rock-solid Chavista bastions but have begun to shift away from him. There, under the cover of darkness, members of the deadly Special Action Force used tear gas, guns, and even grenades against demonstrators. “Maduro won’t let go of power easily,” says Jesus Gonzalez, a motorcycle taxi driver in the vast Petare slum. “He doesn’t mind pumping anyone who protests against him full of lead.”

Through all of this, Guaidó hasn’t been arrested. Although Maduro has prevented him from leaving the country, he’s so far been free to travel locally, meet with foreign leaders, and speak to the press. Social media blackouts have curtailed his reach at times, while Maduro has been touring the country’s military installations trailed by a TV crew filming generals as they swear their allegiance.

At press time, Guaidó was still leading marchers and planning further protests for Feb. 2, when the EU’s deadline runs out.

 

 


Venezuela is ‘disease threat to America’ as measles and diphtheria cases soar in crisis

https://www.express....sles-diphtheria

 

The South-American country has plunged into economic ruin and political chaos following almost 20 years of price control and stringent policies launched by socialist leader Hugo Chavez. The meltdown has profoundly affected Venezuela’s health system, whose current state has been compared by experts to the ones of war-stricken countries such as Syria and Yemen. Diseases such as measles and diphtheria, which could be contained with widespread vaccinations, have re-emerged in the country, putting its neighbouring countries at risk of contagion as millions flee to Brazil and Colombia for a better life. 

 

A paper in the journal Emerging Infectious Diseases said: “The ongoing diphtheria and measles epidemics in Venezuela, and spill over into neighbouring countries, evoke the re-emergence of vaccine-preventable diseases observed in Syria and Yemen and the consequent threat to regional, and potentially global, public health.”

Measles, a highly infectious viral illness which can be fatal, and diphtheria were thought to be under control in Venezuela, but its chronic shortage of medicines and vaccines and the general poverty of the country fuelled their return.

Moreover, medically trained workers are among the millions who have left the country, according to the paper written by academics led by Alberto Paniz-Mondolfi, a Venezuelan infectious diseases pathologist.

He said: “The continued mass exodus of around two million persons from Venezuela since 2014, not only to Colombia, but also to Ecuador, and Brazil, represents an ongoing risk that vaccine-preventable diseases will be carried with them.”

Venezuela now contributes to nearly seven out of 10 cases of measles in the Americas, just 11 years after the country believed to have stamped it out.

Diphtheria, a potentially deadly disease affecting nose, throat and sometimes skin, was first spotted again after 24 years in 2016. 


Dream car: Lamborghini Murcielago 6.2

#2

Posted 02 February 2019 - 08:57 AM

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Venezuela is just stopping short of a failed state. Hundreds of thousands, if not millions of their population, has fled to brazil or surrounding countries border provinces just to escape the situation at home. 

So much, that the countries around it are damn dulan. Some even shut their border just few months back.

 

Maduro is only hanging onto power because the military supports him.


Edited by Lala81, 02 February 2019 - 08:59 AM.

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#3

Posted 02 February 2019 - 09:14 AM

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this is how the western power break u ,

when u dun listen to them

 

which is why i a not surprise at NK action at all..

 

ukraine is another victim of western power political play.

they make a pro western president take over.

 

yet ,they dun take her into NATO or EU for protection.

now russia wack ukraine jialat jialat, 


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#4

Posted 02 February 2019 - 09:36 AM

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Curse of rich national resources, in this case, oil. Attracts superpowers interference, and makes the economy too dependent on only one sector without much development in anything else.

I think other than oil, Venezuela only famous for exporting miss universe [laugh]
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#5

Posted 02 February 2019 - 09:39 AM

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this is how the western power break u ,

when u dun listen to them

 

which is why i a not surprise at NK action at all..

 

ukraine is another victim of western power political play.

they make a pro western president take over.

 

yet ,they dun take her into NATO or EU for protection.

now russia wack ukraine jialat jialat, 

 

Actually, venezuela sorta didn't really need help in breaking itself. 

There's no doubt that USA has imposed sanctions etc on it.

But it sorta broke itself with the way Chavez, then maduro, destroyed their economy.


Mods

Can someone change the spelling of venezuela on the title?

RadX, Jman888, Carbon82


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#6

Posted 02 February 2019 - 09:54 AM

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so coincident. I was just reading about Venezuela days ago ...... Affluent country become like that. Sad. 

 

I had the impression that many South/Central American countries are similar. Africa too. 


"O, devil, devil! If that the Earth could teem with woman's tears, Each drop she falls would prove a crocodile. Out of my sight!" (Act IV Scene I)

#7

Posted 02 February 2019 - 10:03 AM

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Its equally amazing that our neighbor with the glut in JB forest city as well as the 1MDB, the currency still manage to remains as strong as ever.

 

Probably the basket of currencies that they have is quite resilient

 

 


Edited by Sdf4786k, 02 February 2019 - 10:04 AM.


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Posted 02 February 2019 - 11:38 AM

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Its equally amazing that our neighbor with the glut in JB forest city as well as the 1MDB, the currency still manage to remains as strong as ever.

Probably the basket of currencies that they have is quite resilient

The people and culture are different too. Asians are not like latinos [laugh]
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#9

Posted 02 February 2019 - 11:42 AM

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Its equally amazing that our neighbor with the glut in JB forest city as well as the 1MDB, the currency still manage to remains as strong as ever.

 

Probably the basket of currencies that they have is quite resilient

 

the malaysian economy is better run lah.

 

For all it's failings, capitalism still drives efficiency in markets.

Chavez and Maduro manage the economy in every worst possible way. Everything on what not to do, they did it.



#10

Posted 02 February 2019 - 12:05 PM

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http://www.informati....info/51009.htm

 

Sanctions of Mass Destruction: America's War on Venezuela 

By Garikai Chengu

January 31, 2019 "Information Clearing House"    

American economic sanctions have been the worst crime against humanity since World War Two. America’s economic sanctions have killed more innocent people than all of the nuclear, biological and chemical weapons ever used in the history of mankind.

The fact that for America the issue in Venezuela is oil, not democracy, will surprise only those who watch the news and ignore history. Venezuela has the world’s largest oil reserves on the planet.

America seeks control of Venezuela because it sits atop the strategic intersection of the Caribbean, South and Central American worlds. Control of the nation, has always been a remarkably effective way to project power into these three regions and beyond.
 

From the first moment Hugo Chavez took office, the United States has been trying to overthrow Venezuela’s socialist movement by using sanctions, coup attempts, and funding the opposition parties. After all, there is nothing more undemocratic than a coup d’état.

United Nations Human Rights Council Special Rapporteur, Alfred de Zayas, recommended, just a few days ago, that the International Criminal Court investigate economic sanctions against Venezuela as a possible crime against humanity perpetrated by America.

Prior to American sanctions, socialism in Venezuela had reduced inequality and poverty whilst pensions expanded. During the same time period in America, it has been the absolute reverse. President Chavez funneled Venezuela’s oil revenues into social spending such as free+6 healthcare, education, subsidized food networks, and housing construction.Over the past five years, American sanctions have cut Venezuela off from most financial markets, which have caused local oil production to plummet. Consequently, Venezuela has experienced the largest decline in living standards of any country in recorded Latin American history.

In order to fully understand why America is waging economic war on the people of Venezuela one must analyse the historical relationship between the petrodollar system and Sanctions of Mass Destruction: Prior to the 20th century, the value of money was tied to gold. When banks lent money they were constrained by the size of their gold reserves. But in 1971, U.S. President Richard Nixon took the country off the gold standard. Nixon and Saudi Arabia came to an Oil For Dollars agreement that would change the course of history and become the root cause of countless wars for oil. Under this petrodollar agreement the only currency that Saudi Arabia could sell its oil in was the US dollar. The Saudi Kingdom would in turn ensure that its oil profits flow back into U.S. government treasuries and American banks.

In exchange, America pledged to provide the Saudi Royal family’s regime with military protection and military hardware.

It was the start of something truly great for America. Access to oil defined 20th-century empires and the petrodollar agreement was the key to the ascendancy of the United States as the world’s sole superpower. America’s war machine runs on, is funded by, and exists in protection of oil. 

Threats by any nation to undermine the petrodollar system are viewed by Washington as tantamount to a declaration of war against the United States of America.

Within the last two decades Iraq, Iran, Libya and Venezuela have all threatened to sell their oil in other currencies. Consequently, they have all been subject to crippling U.S. sanctions.

Over time the petrodollar system spread beyond oil and the U.S. dollar slowly but surely became the reserve currency for global trades in most commodities and goods. This system allows America to maintain its position of dominance as the world’s only superpower, despite being a staggering $23 trillion in debt.

With billions of dollars worth of minerals in the ground and with the world’s largest oil reserves, Venezuela should not only be wealthy, but her people the envy of the developing world. But the nation is essentially broke because American sanctions have cut them off from the international financial system and cost the economy $6 billion over the last five years. Without sanctions, Venezuela could recover easily by collateralizing some of its abundant resources or its $8 billion of gold reserves, in order to get the loans necessary to kick-start their economy.

In order to fully understand the insidious nature of the Venezuelan crisis, it is necessary to understand the genesis of economic sanctions. At the height of World War Two, President Truman issued an order for American bombers to drop “Fat Man” and “Little Boy” on the cities of Hiroshima and Nagasaki, killing 140,000 people instantly. The gruesome images that emerged from the rubble were broadcast through television sets across the world and caused unprecedented outrage. The political backlash forced U.S. policy makers to devise a more subtle weapon of mass destruction: economic sanctions.

The term “weapons of mass destruction” (WMD) was first defined by the United Nations in 1948 as “atomic explosive weapons, radioactive material weapons, lethal chemical and biological weapons, and any weapons developed in the future which have characteristics comparable in destructive effect to those of the atomic bomb or other weapons mentioned above”.
 

In 2001, the U.S. administration told us that Iraq had weapons of mass destruction; Iraq was a terrorist state; Iraq was tied to Al Qaeda. It all amounted to nothing. In fact, America already knew that the only weapons of mass destruction that Saddam had were not nuclear in nature, but rather chemical and biological. The only reason they knew this in advance was because America sold the weapons to Saddam to use on Iran in 1991.

What the U.S. administration did not tell us was that Saddam Hussein used to be a strong ally of the United States.  The main reason for toppling Saddam and putting sanctions on the people of Iraq was the fact that Iraq had ditched the Dollar-for-Oil sales.

The United Nations estimates that 1.7 million Iraqis died due to Bill Clinton’s sanctions; 500,000 of whom were children. In 1996, a journalist asked former U.S. Secretary of State, Madeleine Albright, about these UN reports, specifically about the children. America’s top foreign policy official, Albright, replied: “I think this is a very hard choice, but the price – we think the price is worth it.”
 

Over the last five years, sanctions have caused Venezuelan per capita incomes to drop by 40 percent, which is a decline similar to that of war torn Iraq and Syria at the height of their armed conflicts. Millions of Venezuelans have had to flee the country. If America is so concerned about refugees, Trump should stop furthering disastrous foreign policies that actually create them. Under Chavez, Venezuela had a policy of welcoming refugees. President Chavez turned Venezuela into the wealthiest society in Latin America with the best income equality.
 

Another much vilified leader who used oil wealth to enrich his people, only to be put under severe sanctions, is Muammar Gaddafi. In 1967 Colonel Gaddafi inherited one of the poorest nations in Africa; however, by the time he was assassinated, Gaddafi had turned Libya into Africa’s wealthiest nation. Perhaps, Gaddafi’s greatest crime, in the eyes of NATO, was his quest to quit selling Libyan oil in U.S. Dollars and denominate crude sales in a new gold backed common African currency. In fact, in August 2011, President Obama confiscated $30 billion from Libya’s Central Bank, which Gaddafi had earmarked for the establishment of an African Central Bank and the African gold-backed Dinar currency.

Africa has the fastest growing oil industry in the world and oil sales in a common African currency would have been especially devastating for the American dollar, the U.S. economy, and particularly the elite in charge of the petrodollar system.

It is for this reason that President Clinton signed the now infamous Iran-Libya Sanctions Act, which the United Nations Children’s Fund said caused widespread suffering among civilians by “severely limiting supplies of fuel, access to cash, and the means of replenishing stocks of food and essential medications.” Clearly, U.S. sanctions are weapons of mass destruction.
 

Not so long ago, Iraq and Libya were the two most modern and secular states in the Middle East and North Africa, with the highest regional standards of living. Nowadays, U.S. military intervention and economic sanctions have turned Libya and Iraq into two of the world’s most failed nations. In September 2017, President Maduro made good on Chavez’s promise to list oil sales in Yuan rather than the US dollar. Weeks later Trump signed a round of crippling sanctions on the people of Venezuela.

On Monday, U.S. National Security adviser John Bolton announced new sanctions that essentially steal $7 billion from Venezuela’s state owned oil company. At that press conference Bolton brazenly flashed a note pad that ominously said “5,000 troops to Colombia”. When confronted about it by the media, Bolton simply said,

“President Trump stated that all options are on the table”.

America’s media is unquestionably the most corrupt institution in America. The nation’s media may quibble about Trump’s domestic policies but when it comes to starting wars for oil abroad they sing in remarkable unison. Fox News, CNN and the New York Times all cheered the nation into war in Iraq over fictitious weapons of mass destruction, whilst America was actually using sanctions of mass destruction on the Iraqi people. They did it in Libya and now they are doing it again in Venezuela. Democracy and freedom have always been the smoke screen in front of capitalist expansion for oil, and the Western Media owns the smoke machine. Economic warfare has long since been under way against Venezuela but military warfare is now imminent.
 

Trump just hired Elliot Abrams as U.S. Special Envoy for Venezuela, who has a long and torrid history in Latin America. Abrams pleaded guilty to lying to Congress about the Iran Contra affair, which involved America funding deadly communist rebels, and was the worst scandal in the Reagan Era. Abrams was later pardoned by George Bush Senior. America’s new point man on Venezuela also lied about the largest mass killing in recent Latin American history by U.S. trained forces in El Salvador.
 

There is nothing more undemocratic than a coup d’état. A UN Human Rights Council Rapporteur, Alfred de Zayas, pointed out that America’s aim in Venezuela is to “crush this government and bring in a neoliberal government that is going to privatise everything and is going to sell out, a lot of transitional corporations stand to gain enormous profits and the United States is driven by the transnational corporations.”

Ever since 1980, the United States has steadily devolved from the status of the world’s top creditor country to the world’s most indebted country. But thanks to the petrodollar system’s huge global artificial demand for U.S. dollars, America can continue exponential military expansion, record breaking deficits and unrestrained spending.
 

America’s largest export used to be manufactured goods made proudly in America. Today, America’s largest export is the U.S. dollar. Any nation like Venezuela that threatens that export is met with America’s second largest export: weapons, chief amongst which are sanctions of mass destruction.
 

This article was originally published by "Global Research"



#11

Posted 02 February 2019 - 12:12 PM

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Not to say the U.S. are angels, but Venezuela was already screwed up way before U.S. sanctions wor. 

 

The situation is quite different from the US-backed military coup in Chile in the 1970's.

 

Some websites are macam Global Times ...



#12

Posted 02 February 2019 - 12:16 PM

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Eh guys. U know with fracking and recent technologies, that the USA is the 2nd world largest producer of crude now right.

 

https://www.reuters....r-idUSKBN1K81XT



#13

Posted 02 February 2019 - 12:16 PM

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Its equally amazing that our neighbor with the glut in JB forest city as well as the 1MDB, the currency still manage to remains as strong as ever.

Probably the basket of currencies that they have is quite resilient

They are running on the fat balance Najib left. Heck they even forced petronas to pay tens of billions in royalty which the previous management didnt touch. But there are already warning that this run wont last.......from 11 yr of 6% gdp to 2% in 1 yr..........pity sia!
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#14

Posted 02 February 2019 - 12:19 PM

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And Russia, formerly USSR, is the largest producer yet their economy was and still pretty screwed.

 

Eh guys. U know with fracking and recent technologies, that the USA is the 2nd world largest producer of crude now right.

 

https://www.reuters....r-idUSKBN1K81XT

 



#15

Posted 02 February 2019 - 12:26 PM

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And Russia, formerly USSR, is the largest producer yet their economy was and still pretty screwed.

 

Govt want to retain control, so let the oligarchs control the economy. So not true capitalism there lah.

Like PRC now meddling in their economy and boosting SOE involvement in the market economy is 1 of the tried and tested methods of failure.



#16

Posted 02 February 2019 - 12:29 PM

Roadrunner2029
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That's precisely my point.

 

Govt want to retain control, so let the oligarchs control the economy. So not true capitalism there lah.

Like PRC now meddling in their economy and boosting SOE involvement in the market economy is 1 of the tried and tested methods of failure.

 



#17

Posted 02 February 2019 - 12:31 PM

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That's precisely my point.

 

Haha our temasek and GIC not far off also. Same idea but slightly different application  [laugh]

But in a city state, if we didn't have temasek or GIC, the alternative would probably be like HK with the that few billionaires controlling most of the economy.

Even in sg, the true private property giants are CDL and FEO.

 


Edited by Lala81, 02 February 2019 - 12:32 PM.


#18

Posted 02 February 2019 - 12:35 PM

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Sorry I don't read much about this country.

But what's the root of the problem with this country?

Is it a communist country? Got nuclear weapons?

Compare to NK, who is worse?

#19

Posted 02 February 2019 - 12:41 PM

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Sorry I don't read much about this country.

But what's the root of the problem with this country?

Is it a communist country? Got nuclear weapons?

Compare to NK, who is worse?

 

Communist. got elections but obviously rigged.

The 2 leaders/dictators ran the economy into the ground with their "socialist" principles while ignoring fundamental economic principles.

No nukes from what i understand.

 

NK is worse.

Their entire hospital/education/economy has broken down.

Their kids haven't been in school for years. Half the adults are suffering some form of malnutrition, not even mentioning the kids. 

Their currency got so devalued, so what they do? Maduro announced a currency reset in 2017/2018. Lol pretend the devaluation didn't happen.

 


Edited by Lala81, 02 February 2019 - 12:44 PM.

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#20

Posted 02 February 2019 - 12:42 PM

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There is no true "communist" or centrally planned economy, or a true "capitalist" or market economy in the world. Everyone got their own special mix, of course some got more of each side. Anything extreme certainly won't work.

 

I think how the Asian culture are more willingly submissive to authority is also a big factor, but history in China has proven time and again, it will only delay the break down. I think you earlier shared an interesting research on the currency policy in the Qing Empire, a subject which is very seldom researched upon.

 

Everyone assumes that the gahmen has unlimited money, much as a lot of Asians still think the same now. Ah gong's money is unlimited. The research showed that the Qing Empire was printing so much money that it became worthless. They couldn't even pay the soldiers, so nobody wanted to fight. In fact, the entire of Eastern and Southern China refused to obey the Emperor's edict to defend China when the Eight Powers invaded Peking (东南自保). This was the beginning of the war lords era, way before ROC was established. History repeats itself when the KMT introduced the 金圆券 in 1948, just before their down fall in 1949. Today, the Chinese are heavily invested in 70-year leasehold property, on the assumption that the gahmen will bail them out when the lease ends. It's the same "ah gong's money is unlimited" mentality, and people forgets where will ah gong get his money from ? Even oil-rich USSR superpower can crash.

 

Haha our temasek and GIC not far off also. Same idea but slightly different application  [laugh]

But in a city state, if we didn't have temasek or GIC, the alternative would probably be like HK with the that few billionaires controlling most of the economy.

Even in sg, the true private property giants are CDL and FEO.

 


Edited by Roadrunner2029, 02 February 2019 - 12:44 PM.

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