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Venezuela's Maduro lets companies issue securities in hard currency

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Venezuelan President Nicolas Maduro on Wednesday authorized local companies to i...

FILE PHOTO - Venezuela's President Nicolas Maduro takes part in a rally during the commemoration of Hugo Chavez's coup attempt in Caracas, Venezuela February 4, 2020. Miraflores Palace/Handout via REUTERS

CARACAS - Venezuelan President Nicolas Maduro on Wednesday authorized local companies to issue securities in hard currency, amid a broad liberalization of an economy that was for years hemmed in by stringent socialist controls. The change comes on the heels of a share offering by rum distiller Ron Santa Teresa that was meant to take advantage of Maduro’s unexpected liberalization of the economy last year.

“The other important thing that has been proposed is legal authorization for companies to issue securities in foreign currency ... approved!” said Maduro during a televised broadcast.

 

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Wondering why Socialism never works? Simple. Reducing your nation's productivity to shit. Why on Earth would anyone in a nation work hard when they can sit home and get paid for doing nothing? So So Backward to advancing humanity.

This is exactly what is going to happen with Trump. By the end of his presidency, he will still be president

Ironically, the socialist state is relying and hedging on western currency.

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