• Content count

  • Joined

  • Last visited

Community Reputation

549 Excellent

About climber7

  • Rank
    Senior Member
  1. PERFECT What I'd like to know too....tired of all the mysterious cryptic messages to keep us on the hook
  2. Venezuelan Currency Madness Valued Local Bank More Than Apple By Christine Jenkins August 11, 2017 at 7:00:00 AM EDT Stock market worth more than Germany’s at official dollar rate Rally reflects massive currency drop in black market rate Play Video Play Mute Current Time0:03 / Duration Time3:24 Loaded: 0% Progress: 0% Fullscreen Venezuela Inches Closer to Dictatorship Why China and India Are in a Heated Stand-Off How War in Korea Would Affect Asia Venezuela Inches Closer to Dictatorship What does it take to surpass Apple Inc. as the world’s most valuable traded company? One way is to be listed in Venezuela, with its massively overvalued currency. Venezuelan stocks are ascending the ranks of the most valuable companies on Earth, with lender Mercantil Servicios Financieros CA briefly topping Apple’s market capitalization last week, and now back in the No.2 spot. Five other top-20 companies are also Venezuelan, a mirage caused by currency controls combined with the world’s fastest inflation. Most of the lender’s theoretical $775 billion market capitalization evaporates if you stop using the official exchange rate of 10 bolivars to the dollar. The value would be 0.1 percent of that at the black-market rate that most Venezuelans have to use if they want hard currency. “It’s madness,” said Asdrubal Oliveros, the director of Caracas-based economic consultancy Ecoanalitica. “That’s Venezuela’s problem, there’s a strong distortion of prices where there’s no single exchange rate.” At the stronger rate, the stock market appears to be valued at $3.7 trillion, more than Germany’s, and on its current trajectory will be worth more than the U.S. market in less than a year. Meanwhile, back in the real world, the Venezuelan economy is set to continue its deep slump.
  3. Thank you for that MIT Hope it's completely accurate--and happens SOOON!!
  4. Thanks for the kind words and taking time to read it It doesn't take much--even just a little right now before the RV--would help.... Peace
  5. 04 August 2017 - 03H20 Venezuela's currency crumbles at dizzying speed inShare8 © AFP/File / by Alexander MARTINEZ | In one year, Venezuela's currency, the bolivar, has lost 94 percent of its value CARACAS (AFP) - Venezuela's money, the bolivar, is sinking faster and faster under an intensifying political and economic crisis that has left citizens destitute and increasingly desperate. ADVERTISING Its 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. On Thursday alone, the bolivar slumped nearly 15 percent on the black market, to be worth 17,000 to one US dollar. In a year, the currency has lost 94 percent. The decline has been dizzying -- yet largely ignored by the government, which uses an official rate fixed weekly that is currently 2,870 to the dollar. Ordinary Venezuelans, however, refer only to the black market rate they have access to, which they call the "dolar *****," or "black dollar." "Every time the black dollar goes up, you're poorer," resignedly said Juan Zabala, an executive in a reinsurance business in Caracas. - Salaries decimated - His salary is 800,000 bolivares per month. On Thursday, that was worth $47 at the parallel rate. A year ago, it was $200. The inexorable dive of the money was one of the most-discussed signs of the "uncertainty" created by the appointment of the Constituent Assembly, which starts work Friday. As a result, those Venezuelans who are able to are hoarding dollars. "People are protecting the little they have left," an economics expert, Asdrubal Oliveros of the Ecoanalitica firm, told AFP. But Zabala -- who is considered comparatively well-off -- and other Venezuelans struggling with their evaporating money said they now spent all they earned on food. 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 -- 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. - 'No limit' - Maduro 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 the president, 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. On Thursday, Maduro promised "speculators" setting their prices in line with "the terrorist criminal dollar in Miami" would go to jail. For the past four months, Maduro has been the target of protests which have been forcefully confronted by security units, resulting in a toll of more than 125 deaths. The opposition says the new Constituent Assembly is an effort to create a "dictatorship" along the lines of Communist Cuba. Against that backdrop of tensions, "there is no limit on how far the black dollar can go," according to Ecoanalitica. But a director of the firm, Henkel Garcia said he believed the current black market rate "didn't make sense" and he noted that in the past currency declines weren't linear. Oliveros said increased printing of bolivares by the government was partly the reason for the black dollar's rise. "When you inject bolivares into the market, that means that companies, individuals go looking for dollars, which are scarce," he said, estimating that the shortfall of dollars this year was some $11 billion. The horizon is darkened further with big debt repayments Venezuela has to make, for instance $3.4 billion the state oil company PDVSA has to reimburse in October. That debt is denominated in dollars. by Alexander MARTINEZ
  6. I know right? It's a dog eat dog world (in dinarland) and we're wearin' Milk Bone underwear
  7. Could someone please address the question I've asked twice regarding what SPECIFICALLY happens to our rials when they switch to the toman? Does the switch to the new currency leave us screwed with worthless paper money no longer recognized? Will we be able to switch our rials for tomans? What will be THAT exchange rate and will we be able to make money on it? Thanks and much appreciated
  8. okay, that still leaves my previous question of what does this do to our rials? does this make them obsolete and un-exchangeable?
  9. Chuck, I'm confused..... You're saying you'd be happy if 3 million only yielded us 2,556.00? Not sure why this is good?
  10. So now that they've switched to the toman--and it has a different rate--what are we supposed to do with our rials? Are they worthless now?
  11. Anyone think this might be a good investment though it may take longer than Iraq to recover? The Meltdown in Venezuela's Currency Is Deepening The black-market rate for the bolivar plunges beyond 8,700 per dollar for first time By Srinivasan Sivabalan July 21, 2017 at 3:49:20 PM EDT The meltdown in Venezuela’s currency is deepening as a crippling dollar shortage and a threat of oil sanctions take their toll on the economy. The black-market rate for the bolivar traded weaker than 8,700 per dollar for the first time, according to on Friday, compared with the official rate of around 10 and a more widely used alternative rate of 2,757. That’s creating an illusion for foreigners observing the country’s stock market, which appears to be valued at $2.57 trillion -- bigger than Germany’s, France’s, India’s or Canada’s -- but is worth only $3 billion based on the black-market rate.
  12. Didn't see your post before I just replied as well... Great points and thanks for bringing more perspective to the subject
  13. Just a couple respectful remarks..... If you actually read the entire Bible, understood it, and more importantly know the true heart of God--you would know better and not believe the things you wrote. There are countless Scriptures explaining that God wants us to prosper. i.e. "God delights in the prosperity of His servants/children" "It is God who gives us power to get wealth" "For those who fear (revere) God, wealth and riches will be in his house" I could go on and on and on...... What the Bible DOES say is it's the LOVE of money that's the root of all evil. (putting money above your love for Him and others) Basically we need to start at the true heart of God (Who I pray you genuinely pursue and get to know personally), and work back from there. Ask yourself this......why would a loving God put His own child through a tortuous and horrific death to pay the price WE owed, only for us to live in poverty and squalor? Doesn't make sense does it? The thing is.....He only denies us what He knows will eventually harm or kill us. Are you a parent? Do you know any kids you love? Would you give them the keys to a vehicle before they're ready to drive or could handle the power of a Harley Davidson? Would you toss a 10 year old on Harley and say "there you go--take off"......? No, because you know they're not ready and would only hurt or kill themselves. It's so simple with God because He's the same with us but only loves us more than we love ourselves. We want what we want and when we want it and that includes wealth. Whether it comes from this RV we want so bad or from another form. That's why He Him that He can bless us with good things and prepare us for them so we don't get hurt by them. Grace and peace to everyone..... and wealth to help others.
  14. Okay, this needs to be addressed because Jesus, and Who He is, is more important than the RV or anything else in creation. First, I want to be clear I'm NOT writing or coming from a place of anger or confrontation. I'm writing this from a place of peace and concern, so please don't take offense or think I'm starting an argument here..... A statement made like this needs to be addressed because of the enormous error in it. First, I would ask, have you even researched Jesus and the Bible yourself? Not going on what anyone else said? Do you understand the historical FACTS and proof of His life and miracles? Secondly, do you believe in God and that He is not only caring about us but actually loves us more than we can comprehend? Thirdly, if you had a plan to rescue someone you loved so completely you would sacrifice your only child for them unless you 'knew' that your plan was fool proof and perfect? The thing is......after you understand the answers to those questions you come to understand that God not only created everyone and everything in creation and the universe, but had a plan to redeem and sustain it. His plan was through the PERFECT life of Christ. If Jesus was not perfect then God, and Jesus, made a HUGE mistake and WASTED His life.......for nothing. Jesus suffered (historically) a gruesome and horrific death for nothing--if He wasn't perfect. Just give a few moments pause to reflect on the weight of that. So, to say He wasn't perfect is a huge slap in the face to God and to Jesus for the love and sacrifice He made for YOU and for the world. Another thing to think about is if He wasn't perfect then not only did His, and God's, plans fail miserably, but He couldn't have changed the world the way He has over thousands of years and would never have so many followers over so many centuries. Last thoughts....the most important thing in the entire world is God/Jesus Himself and your relationship and feelings, thoughts, ideas about Him. All else is secondary--and small potatoes. Why? Because first, why wouldn't we want to know the One Who created you and has nothing but good in store for you and a plan and purpose for creating you? That would be the same as desperately wanting a child, having a child, lavishing that child with good things, and having that child slap you in the face with disdain, disrespect, ignorance, and selfishness and want nothing to do with you in return. it wouldn't be YOUR fault. It would be the fault/sin in the heart of the child who would make such a statement much like the one you made saying "He wasn't perfect". Just want to throw this out there that even though you may still believe that---while I'm sure it stings Him--He STILL loves you and has a plan for good for you but you'll never realize or have it because you choose to not accept Him, and all that He is (perfect). Peace and blessings to everyone one here and may God bless us with wealth and prosperity to do good with it for others.
  15. Wasn't sure where to post this but thought ya'll would appreciate this..... Middle East ISIS Terrorists Dress Up as Women With Makeup and Padded Bras to Flee Mosul, Get Caught Anyway By NTD Television | July 22, 2017 AT 10:23 AM Last Updated: July 22, 2017 10:33 am An ISIS terrorist before (left) and after (right) his elaborate attempts to disguise himself as a woman to escape Mosul. (Photo courtesy Iraqi army) Members of the ISIS terrorist group are dressing up as women with elaborate makeup and padded bras to flee Mosul, but many have been captured by the Iraqi army and photographed. One fighter slathered on powder and lipstick, applied eye shadow, and even added a few beauty spots, but forgot to trim his facial hair. ADVERTISING The Iraqi army has been catching many such actors and posted a gallery of the terrorists wearing female gowns, padded bras, and carrying women’s handbags. (Courtesy of the Iraqi army) The Iraqi soldiers appear to have a blast taking photographs with the cross-dressing jihadi fighters. One of the captured terrorists wore a wig, makeup, and a lacy padded bra. The disguise failed since his chest hair showed through a revealing cream-colored tank top. Another terrorist was caught wearing a full traditional black dress and carrying a baby blue handbag. A third was caught in a red velvet dress—and a beard. Mosul, Iraq’s second largest city, was liberated from ISIS after nine months of intense combat that left the city in ruins. The Iraqi government announced that the city was freed from ISIS in early July. According to the United Nations up to 1.4 million people live there. A boy walks along a damaged street in west Mosul on July 13, 2017, a few days after the government’s announcement of the “liberation” of the embattled city from ISIS fighters. (Safin Hamed/AFP/Getty Images) Nearly a third of the Old City, up to 5,000 buildings were destroyed during combat, according to a U.N. Habitat report using satellite imagery.