Friday, February 7, 2014

Maduro Threatens to Expropriate Businesses

With the so-called “Fair Prices Act” in place Maduro is ready to crush any violators.

This is a predictable progression of a desperate government. Of course Maduro’s government takes no responsibility for soaring prices, instead it is the fault of the “bourgeoisie” as he is fond of saying.

Come Monday expect to see some businesses get their doors kicked in for violating the act and don’t be surprised if those businesses, even if in compliance with the cap of 30% profits, are the last few ones generating any profits at all. Even a corrupt government that hates profits knows better than to seize unprofitable enterprises.

We expect to see black market rates jump on Monday or over the weekend. Current rates are approximately USD/VEF 81.20.

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