Dept. of Magical Language


Quico says: So speaking to reporters the other day, Planning Minister Haiman “Orwelito” El Troudi accepted that the last few rounds of sovereign bond issues have created an “implicit price” for the dollar that’s above the official rate.

(Why? Simple…now you can buy Bs.F 3.3(ish) worth of bonds and immediately resell them for $1. Every part of the transaction is legal. So, in effect, there’s a second legal price for the bolivar that’s higher than the official Bs.F2.15/$.)

“But,” El Troudi quickly added, “that flexibilization will never derive into a differential system in any of its forms, such as a dual exchange rate. There shall be one exchange rate.”

Which is a lot like saying that yes, admittedly, your sister does trade sex for money, but that will never derive into prostitution in any of its forms…

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  1. Amusing simile. I think maybe all he is saying is the the govt won’t set the second rate. They’re going to continue to sell the bonds, which implicitly acknowledges that the bolivar really isn’t worth what the official rate says it is, but not formalize a dual exchange rate. In a way, that’s wise – I don’t see that they could pick a value which itself wouldn’t be subject to wild variations. In that sense, refusing to create a dual rate is simply an acknowledgement of the volatility of the freely-traded bolivar.

    It seems better to have just one exchange rate which is throughly mocked and discredited than two. This still seems like trying to tapar el sol con un dedo, but setting a dual rate would be denying reality, too.

    Or I’ll put this in Orwell terms: yes, it’s double-speak, but creating a dual rate would be as well.

  2. This is the same guy that stated ‘minimum wage salary feeds a family of five’.

    Yeah right.. en la casa de quién?

  3. Thye always seem to be full of contradictions and inconsistencies. Yesterday in El Universal on the Cumbre Alimentaria: “Jaua, quien encabeza la delegación criolla junto al canciller Nicolás Maduro, explicó que este plan debe estar sustentado en cuatro pilares fundamentales. Los tres primeros son abastecimiento de fertilizantes, producción de semillas y mecanización de la siembra”

    That this mean that the most productive form of agriculture — el conuco — will now be mechanized?

  4. Quico, Katy: are you going to get rid of the construction equipment spam ads coming from Berto? They are in multiple threads.

  5. En la casa de nadie, Liz. A minimum wage does feed a family of five, I suspect – it just doesn’t feed AND house (and provide for school, transportation, etc) them.

    If he said that, my impression is that this guy is very skilled with the double-speak. After all, he isn’t actually lying on either of these topics. But selective truth is often more damaging than lies, and certainly more difficult to discern.


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