@BenjaminNorton Venezuela has had it's currency pegged to the US dollar for decades, before Maduro, which has always been a bad idea. I'm not sure why the Venezuelan Gov didn't unpeg it's own currency from foreign debt when it had the chance. The problem of pegging to the USD serves IMF wishes.
@BenjaminNorton It's essential that Venezuela reject the IMF's predatory debts and unpeg the USD from it's State currency. Venezuela cannot have full monetary sovereignty until it unpegs the foreign debt tied to it's money.
@BenjaminNorton The sanctions & embargoes restrict USDs from making it into the Country through trade, which they need to back their own State currency with. This pushes more valuable commodities to be traded to the US for USD, to back their own currency.
@BenjaminNorton Above, paired with the reduced amount of trade goods for consumption or production & future consumption from sanctions & embargoes, is how Inflationary pressures are created by pegging their State currency to USD, as well as being unable to use it's monetary system to solve crash
@BenjaminNorton Michael Hudson is the best. China is also resisting US Dollarization sphere to avoid Neoliberal finance cApiTaLiSM by doing it's own similar-seperate system to set up something more fair, yet still a global trade network.
All this fawning over AOC, about the House rules for PAYGO is the last straw for me. Those House rules don't mean anything. No one is restrained by them, there is nothing in the constitution that would enforce the Neoliberal Dems petty rules like demanding spending bills.. 1/
be offset by taxes with a PAYGO structure. Not 1 person in the House of Representatives has to follow that list of BS Dem party rules, nothing stopping any1 from bringing bills up with large fiscal spending without tax offsets. 2/
But look, the liberal-progressives drawers about the rule, acting like AOC "made" them do it, which is not true, AOC can't/won't make them do anything. It's a f*kin lie to placate the liberal-progressives simping for her with a phony victory.
3/