Kindling, pretty much.

by baldilocks

Last day filling in for Fausta.

Still waiting for Former President Obama, actors Danny Glover and Sean Penn or director Oliver Stone to comment on the downfall of Venezuela. Breath not being held.

Venezuela’s currency, the bolivar, is disintegrating at an incredible pace under the country’s political and economic crisis that has left citizens broke, desperate and in many cases, homicidal. The depreciation accelerated this week, after a disputed vote electing an all-powerful “Constituent Assembly” filled with allies of President Nicolas Maduro, which the opposition and dozens of countries have called illegitimate.

Just two days ago, on August 2, we reported that one dollar would buy 14,100 bolivars, up from 11,280 the day before.

The next day, the bolivar slumped nearly 15 percent on the black market, to 17,000 to one US dollar. Today, it has crashed again, tumbling 16% to 20,142, and down almost 40% in just the past three days.

(…)

A kilo (two pounds) of rice, for instance, cost 17,000 bolivares. The crisis biting into Venezuela since 2014 came from a slide in the global prices for oil [sic]– exports of which account for 96 percent of its revenues.

The government has sought to monopolize dollars in the country through strict currency controls that have been in place for the past 14 years. Access to them have become restricted for the private sector, with the consequence that food, medicines and basic items — all imported — have become scarce.

According to the International Monetary Fund, inflation in Venezuela is expected to soar above 700 percent this year. In June, Maduro tried to clamp down on the black market trade in dollars through auctions of greenbacks at the weekly fixed rate, known as Dicom. There is also another official rate, of 10 bolivars per dollar, reserved for food and medicine imports.

“Things are going up in price faster than salaries,” noted Zabala, who spends 10 percent of his income on diabetes treatment, when he can.

Meanwhile, Maduro who earlier this week was branded a “dictator” by the US State Department, has vowed that a new constitution the Constituent Assembly is tasked with writing will wean Venezuela off its oil dependency and restart industry, which is operating at only 30 percent of capacity. But Maduro, who links the “black dollar” with an “economic war” allegedly waged by the opposition in collaboration with the US, has not given details on what would be implemented. Instead, on Thursday Maduro promised that “speculators” setting their prices in line with “the terrorist criminal dollar in Miami” would go to jail.

(…)

Venezuela has to make major debt payments, with a $3.4 billion dollar-denominated payment for state oil company PDVSA looming in October. It is increasingly unclear if the company will make the payment.

But, remember folks: this isn’t the result of socialism, because true socialism has never really been tried yet!

(Thanks to Instapundit)

Juliette Akinyi Ochieng blogs at baldilocks. (Her older blog is located here.) Her first novel, Tale of the Tigers: Love is Not a Game, was published in 2012. Her second novel tentatively titled Arlen’s Harem, will be done one day soon! Follow her on Twitter and on Gab.ai.

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Update DTG: The layoff bleg continues $915 down $1585 to go by Aug 10

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And as I’ve said before if you can’t spare the cash we will be happy to accept your prayers.

Stacy is spot on concerning Oliver Stone to wit:

In the “context,” that is, of hating America. And Oliver Stone’s hatred of American is probably the best explanation for why a formerly successful feature director, an Academy Award winner, is reduced to directing crackpot “documentaries” for cable TV. Who wants to watch movies based on the theme that America is the unique embodiment of evil in the world?

There’s something frightening, really, when you realize how many people bought into the conspiratorial worldview of Stone’s JFK and then ponder the pathological destination to which this worldview has led Stone. And does anybody doubt that Stone has a handy scapegoat for his career problems? Blame the Jews!

When I look at the Newsbusters clip there is actually at least one point of Oliver Stone’s rant is worth considering.

Hitler did have a lot more support both within and outside of Germany that people care to remember, but I suspect Stone would like to forget that this includes the far left which just fawned over Adolph once he made is pact with the USSR and did a 180 as soon as he invaded the Soviet Union. As the saying went in France: “If everyone who claimed to be resistance were resistance, there would have been nobody left to collaborate.” It’s important to not forget that a lot of people bought what he was selling. This is is generally true for any purveyor of evil, they all have their acolytes that help make them possible.

The ultimate irony of this? This is exactly the role the Stone and people like him serve for Chavez (who he excuses) Iran (who he minimizes) and served for Saddam (Bush was worse).

Stone only valid point in his rant turns out to be a case of projection but he doesn’t see it. How could he? He is blinded to reality by the power of the “Jewish Cabel”.

Remind you of anyone?

Memeorandum thread here.

Update: The Volokh Conspiracy lays it out in case I was too vague:

Gibson was an easy target for Hollywood liberals and leftists. A right-winger and a religious Catholic, Gibson was the perfect manifestation of Hollywood liberals’ stereotypes of anti-Semites.

Stone, by contrast, is a Buddhist leftist of partial Jewish descent, the kind of person the Hollywood left usually thinks of as “one of the good guys.” Stone even was clever enough to follow his anti-Semitic remark about Jewish domination of the media, noted in the context of Hitler and the Holocaust, with some pablum about the Jewish lobby, Israel, and American foreign policy. This had nothing to do with the topic at hand, but Stone’s apologists will inevitably claim that his remarks were aimed at the “Israel lobby,” and not Jews per se.

Let’s see if stone gets the same play as Gibson, likely not, no baby mama in play here.