Its nothing to do with socialism. The US has essentially cut Venezuela off from the global banking system and from issuing bonds.. How long would the USA stay togetherr if it was unable to issue debt? Venezuelas debt to GDP is a relatively moderate 28%. Still waiting to hear Larue name a nation that is wealthy with no significant aspects of socialism.
Of coarse it is socialism.
The Venezuela socialist morons nationalized US assets. Any country in the world will cut off access to their financial system in response to that action
if someone car jacks your ride are you going to gim him your ATM card & pin # ??????
Do these brain farts come to you naturally or do you have to work hard to be this stunned?
Re bonds? who do you think would be stupid enough to lend to a country which does not respect property rights?
A bond is a legal contract and its value is the good faith of the borrower to honour the contracts conditions , particularly the obligation to repay
Why would they honour the legal obligation to repay when they will not honour the legal property rights of the nationalized companies?
Money avoids incompetence & stupidity. It runs away from thieves who do not respect property rights.
No one would underwrite a Venezuela bond once they nationalized the assets.
That is a bigger pipedream than your fantasy that socialism can work
You really should avoid subjects where your opinion is much bigger than your understanding
South Africa is going to run into the same problem if they confiscate white farmers land without compensation.
That action will likely lead to civil war as the country will immediately be cut off from financing for rejecting property rights.
Without cash it will descend into chaos
You will blame that one on someone else as well
izza:
