Impossible Imposition

For Friday, June 29, 2018. Translated by Javier Liendo.

Photo: AVN

Amidst hyperinflation and even though the government hasn’t taken any measures to alleviate the phenomenon, Vice-President Delcy Rodríguez opened the Strategic Table for Public Services, Productivity and Housing to advance the “Plan 50”, a policy that’s already failed, to regulate the prices of 50 goods and services. The government calls this impossible imposition a “development of agreements to regulate prices.” Rodríguez claimed that they want to preserve (already destroyed) public services and urged presidential offices to create a policy for the common good to guarantee “Venezuelan power.” Producers and business owners warn that regulating prices is unviable in an economy wracked by hyperinflation, and they fear that products will vanish in case these regulations are implemented without taking into account the costs for resupplying inventories nor production revenues. Strangely, this happened while Food Minister Luis Medina announced that a plan was created for supply every four months, meant to “guarantee the supply of basic basket products,” because according to his monitoring of inventories, there’s a 16% supply of the most relevant items in the basket. And the brilliant Minister added: “This means that there’s a considerable lack of supply.”

Normalizing the collapse

We’re going to normalize the economy, on our terms, our way, but we’re going to make it. Let the capitalists know,” said Nicolás yesterday, proving why he’s been failing so disastrously thus far in economic terms, dragging the whole nation down in the process. In order to “normalize the economy,” he said he’s willing to do anything, that he won’t be announcing but acting, so he expects to have people’s support for the actions he’ll implement. He was cheered during the session with Urban Land Committees, and he parroted the litany about a new stage for Communal Councils and Communes, for the “reactivation” of all forms of chavista organization, of course. The approval of financing for new urban projects was tiresomely repeated, just like Erika Farías’s appointment as the person responsible for construction projects in Caracas, while he expects to reach three million housing units by 2019 (he didn’t explain where he’ll import materials from, but he did say he’ll pay with petros) and promised to go to the ANC to present the Bill for the Plan de la Patria 2019-2015.

From exile

The Supreme Tribunal of Justice in exile ordered the President’s Office yesterday to provide “within an imperative period” all the services established by the country’s laws in the General Consulate of Miami. The Political Administrative Chamber accepted an action filed by a group of Venezuelans residing in Miami aimed at the “full operation” of the Venezuelan General Consulate, whose services are deficient. The consulate was shut down in 2012 by order of el finado and was reopen this year by Nicolás’s decision for May 20 elections. According to the TSJ in exile, the order’s meant to benefit the diaspora in the U.S. who has been stigmatized by the government, to protect “the rights of children and teenagers” and those of “considerable number of retirees and pensioners.” Luisa Ortega Díaz gave the justices of the TSJ in exile 18 pieces of main files and 46 annexes linking Nicolás with Odebrecht, accusing him of corruption and money laundering. “I won’t stop, I’ll keep doing this,” said Ortega Díaz, calling Nicolás a “thief who has taken over the money of Venezuelans.” She requested the TSJ in exile to preserve the accusation and the evidence and to schedule a hearing for trial.

We, migrants

The Chilean government granted 3,000 vistas to illegal foreigners thanks to the immigration reform approved by president Sebastián Piñera as a response to a wave of immigrants from Venezuela, Peru and Haiti, “so they can fully integrate in our society,” said Piñera. The authorities expect that some 200,000 foreigners will sign up for the regulation program that ends on July 22. Meanwhile, the European Parliament mission that’s visiting Colombia expressed concern for the Venezuelan exodus because they believe that the crisis will be long “as long as their country’s political situation isn’t fixed,” said Agustín Díaz de Mera, who announced the implementation of a resolution that will be presented to all political groups in the European Parliament with the goal of making this humanitarian crisis more visible. Diego Beltrand, regional director of the International Organization for Migration, remarked the efforts made by the region’s countries to help Venezuelan immigrants and prevent the situation from intensifying. Beltrand said that our immigration has reached two million citizens in the last three years, so he urged the countries that our hosting us “to work on [our] regularization.” His call was mirrored by UNHCR representative Juliana Bello, while Eduardo Sevilla, Peru’s National Superintendent of Migration, revealed that there are over 353,000 Venezuelans in his country and only 53,000 have a Temporary Stay Permit. All of them emphasized the need for a regional response to immigration.


  • Journalist Jessica Carrillo reported that the third accused in the case of the presidential couple’s narcosobrinos, Honduran Roberto Soto García, hasn’t pleaded guilty and although a cooperation arrangement (Plea Bargain) is still a possibility, it hasn’t happened. It’s apparently unlikely that Soto García’s testimony will change the case because the narcosobrinos have a sentence in appeal process.

  • U.S. Vice-President Mike Pence called for Latin American countries to take actions to isolate the Venezuelan government. Ecuadorian President Lenín Moreno, with whom Pence had been meeting, spoke as if chavismo didn’t have 19 years in power and said: “We believe that the solution in Venezuela can only be achieved by Venezuelans.”
  • Colombian President Elect Iván Duque met with U.S. senator Marco Rubio to talk about how to help solve the crisis and restore democracy in Venezuela.
  • By the way, the meeting between Donald Trump and Vladimir Putin is scheduled for July 16 in Helsinki, Finland.

After 45 years of uninterrupted work, Diario El Siglo (Aragua state) will start circulating four days a week due to lack of newsprint, controlled by the Alfredo Maneiro Editorial Corporation.

Caracas Chronicles is 100% reader-supported. Support independent Venezuelan journalism by making a donation.


  1. “Producers and business owners warn that regulating prices is unviable in an economy wracked by hyperinflation, and they fear that products will vanish in case these regulations are implemented without taking into account the costs for resupplying inventories nor production revenues.”

    They fear products will vanish? As if there’s any fuckin’ doubt, numbnuts.

  2. What I find mind-boggling is that the latest predictions are 500,000% inflation coming soon.

    I forgot my HTML and I don’t know how to make that 500,000% bold or italic, but it should be both, in 72pt type.

    Seriously, boys and girls:


    • @Ira I can’t even wrap my mind around that ! Surely at some point the number becomes meaningless for all practical purposes. Does that mean a person would need a dump truck full of bolivars to buy a sack of groceries? I would think that it means most people would have starved long before that number could even be reached. As I said, I can’t even comprehend that.

    • As I posted yesterday approx November 1st the “new sobrano” will be equal to the “old” Fuerte of 230,000 back in march. So the shedding of 3 zeros is a waste.
      BUT ON SECOND THOUGHT. It might be brilliant.

      As the “New Sobrano” 1 year from now, on June 29, 2019 will be 1,000,000,000 (Trillon in USA)
      and the “Old Fuerte”, if left alone would be 1,000,000,000,000 (Quadrillion)

      Thus, saving the average morning Cafe Latte sipper a cool 999,000,000,000 BsF

      • @Dale…I would need a bigger calculator! Don’t think my little phone calculator could handle numbers like that! Lol

        • As you talk about the value of the bolivar…or lack of….the real power now is foriegn currency…..if you have dollars or Euros….and many do… can buy most anything at a third of value…just make any offer in dollars… they take without hesitation……there was a real run on everyone hanging on for dear life…….side note…..go to the malls in Chacao..Altemira……place is on fire…everyone out eating..drinking…shopping… two world in Venezuela

      • They’re going to have to make the bills twice as long to accommodate all of the zeros.

        Or invent a new digit, like a zero with a line through.

        Vertical line means a billion, horizontal line a trillion.

  3. Seriously, the government is lost. Printing new bills is a fools game.
    Unless maybe they start cutting off 6 zeros now, what will people do?
    The only solution is that the people use Columbian, Brazilian currency, or euro and the us$.
    Obviously every merchant, every government entity must accept electronic $$, if they can,
    but what about local street merchants, transportation like buses, taxis that are time sensitive.
    What about when the electricity goes down?

    Most everyone was calling this situation as probable last November, and sure enough it is here.

    Maybe this will be that spark, that finally causes a change.

    One thing for sure. NOTHING WILL STOP IT but change.

    • Davy, that is pure BS.
      I agree, the government has many strategies to make the population more dependent on them (CLAP bags), Carnet de la Patria, and policies that promote the emigration of the thinking class, etc.

      But hyperinflation – no ways in hell, as it is something that they can not control.

      • “But hyperinflation – no ways in hell, as it is something that they can not control.”

        Can you point to a historic example of hyperinflation not caused by government policy?

        • I believe what Dale is arguing is that it is not intentional not that it is not caused by government policy. Inflicting hyperinflation on the population is a risky move. Surely it will accelerate dependence but it is not an easily controlled phenomenon, like going all in with a pair of eights.

          • When the enchufados decided to steal every bit of prosperity in Vz, they accepted the risk. Their brutality proves they have no fear of the population.

      • So the Vz government controls the supply of goods through forex and ownership of capital. They control prices. They control wages and benefits. They control the money supply. They control sovereign debt. So they control all factors affecting inflation.

        • Yes, agree they control everything, they caused hyperinflation!

          BUT every last chavista from top to bottom believes in their hearts that they do not control everything, and that it is the moneychanger, the USA, ghosts, gobblins, and the man from home depot who is the reason for the fall of the great bolivar nation.

          • And it in such beliefs that they show themselves the true heirs of Chavez, who had no clue as to how effective institutions worked, and assumed that speechifying, threats and bribes, lubricated by oil money, could bring about any desired result, provided only that “capitalists” and “imperialists” did not get in the way.

          • Chavez certainly understood how to destroy effective institutions — it’s in the marxist playbook (via Cuba).

  4. “The Supreme Tribunal of Justice in exile ordered the President’s Office yesterday to provide “within an imperative period” all the services established by the country’s laws…”

    They speak as though someone was listening and eager to fulfill their every whim. Failed aristocracy still lives in the creole heart. Clue: the entirety of human history shows that the only way to impose the rule of law on the lawless is by force. Are you willing to shut your mouth and fill your hand? If not then prepare for more deprivation and bullying.

    • I agree that Supreme Tribunal of Justice has no teeth, and are seemingly just empty words, but it is important for all VZ to realize that those words DO CHANGE hearts and minds, and do have the ability to change momentum with the governments in LATAM, Europe and the USA
      They along the NGOs reporting , journalist, activist, those in exile, and those sacrificed within the country add to the pressure.
      Of course, the worst solution is outside military intervention, which 98% agree will not happen, so the only other option is government sanctions of some sort to pressure the VZ military to overthrow the regime.

      We all know the best solution is the people, but that seems a lost cause.

      Easy to criticize DJ, what is your solution?

  5. “…those words DO CHANGE hearts and minds, and do have the ability to change momentum with the governments in LATAM, Europe and the USA”

    To date, have those words been answered with anything more than more words?

    But my commentary was mostly directed at creole culture.

  6. Sounds like Pence is getting restless, but few other countries are going for any direct action. That’s going to seem criminally passive pretty soon, if it doesn’t already.

    • They get condemned for acting and condemned for not acting. Looks like they have learned to ignore their critics. That’s bad for the critics because now they have little influence.

      All of LatAm shouts down the BigBadBully, but is their passivity also criminal?

      • Really, unfortunately, we cannot count on all of LatAm; there’s only one we can count on, and he must act probably early next year.

    • yeah, caught that as well. Beat me to it.

      Chavista and numbers, water and oil (supply), facts and reality, living “minimum” wage, Bolivar “Fuerte”, Women’s “Rights”, “Universal” Healthcare, need I continue?

  7. What a very nice table to sit at and talk about Chavista bureaucrats are going to talk better to each other to fix Venezuela. Because after all, the only thing wrong with Chavismo is lack of effective communication and a “can-do!” attitude.

    It is a very nice table. And the backdrop is stunning.


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