America, Bolivarianism, Communist infiltration, disastrous consequences, DolarToday, economy, Financial Crisis, Financial Exploitation, History, hyperinflation, Marxist socialism, Nicolas Maduro, psycho-politics, totalitarian ideology, totalitarian system, totalitarianism, Tyranny, Venezuela, Venezuelan Central Bank, Venezuelan economy, Venezuelan exiles, Venezuelan Socialism
“The best weapon against an enemy is another enemy.” ~ Friedrich Nietzsche
“The allegation that the mere publication of an exchange rate in the U.S. causes inflation in Venezuela — it’s pretty far-fetched”
The International Monetary Fund is predicting Venezuela’s inflation could hit 720 percent this year. And the shortage of even basic goods is raising tensions in the country. To complicate matters, the newly emboldened opposition has been floating ideas of how to oust Maduro.
BOGOTA, Colombia — Is a U.S. website causing the collapse of the Venezuelan economy? That’s what Venezuela’s Central Bank seems to want to prove as it pursues legal action to shutdown www.dolartoday.com. The bank blames the website for runaway inflation and a plummeting currency.
On Monday, Adam Fox, a Squire Patton Boggs attorney who is representing the bank, said his firm plans to submit an amended complaint against the website after the U.S. District Court of Delaware dismissed the initial claim on Friday.
Started in 2010 by three Venezuelan exiles, DolarToday has drawn a huge following and the ire of the government by publishing the black-market bolivar-dollar exchange rate.
In a country where there are tight currency controls but also a thriving black market for greenbacks, the website has been a frequent government target. Starting in 2013, the administration tried blocking the site, and President Nicolás Maduro has often railed against its owners, calling them “bandits” and economic terrorists who need to be locked away.
In October, the Central Bank took the fight a step further by filing a suit in Delaware, where the website is registered, accusing the owners of racketeering, false advertising, and illicit enrichment.
According to the Venezuelan Central Bank, the website has been driving the country’s triple-digit inflation and currency devaluation by faking exchange-rate data.
“Defendants are deliberately misrepresenting and effectively manufacturing a market — a phony, distorted market for the exchange of bolivares into dollars and vice-versa, with the aim of lining their pockets with ill-gotten gains,” the suit reads.
Read more @ link
[Byline Jim Wyss, full article @ The Miami Herald]
Then again look at all the stuff Obama and his regime has made up…