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  • Posted by chad 3 months, 4 weeks ago
    Investing in a socialist country that might change is very high risk with the potential of a very high reward if it does.
    However, the people of the country are starving, unable to get medical supplies for their children or themselves and the citizens continue to obey the socialist structure while complaining and waiting for permission from their masters to behave rationally. As long as they are unwilling to disobey and tell the government what it is allowed to do instead of waiting for the government to tell them what they can do they are doomed to starvation and lack of any necessary supplies until their socialist government allows it. I wouldn't touch any investment, property, business or other idea coming out of Venezuela. It doesn't bode well for the US either where the country is barreling down the highway toward socialism and waiting for their masters to give them permission to be free.
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  • Posted by  $  MikeMarotta 4 months ago
    Actually, while there may be special situations, such sanctions are only interference in the economy and thus a violation of your rights to property and contract. Economic sanctions always fail. We have history on this, from the Embargo Act of 1807 to sanctions against Cuba.

    First of all, if such sanctions are actually warranted by the circumstances, then the market impels toward integrity. As allosaur said first, no one wants to invest in Venezuela.

    Solver fell into fallacy of the ignorant reader. (See https://www.galtsgulchonline.com/post... here in the Gulch.) Everyone knows that Venezuela has been failing since 1999 when Hugo Chavez's Socialist Party took over the country. Again, why would anyone invest in a socialist economy?

    But, given that they want to, why do you grant the power of the state to prevent them? Where do you draw the line? Venezuela? Sweden? Canada? Ultimately, would FreedomForAll, allosaur, exceller, and Solver want to prohibit people from buying US Treasury bonds (but not the government debt of the Cayman Islands)?

    It is a principle of Objectivism that to live a rational life in an irrational society, you do not grant the sanction of the victim to your destroyers. And yet, we all buy gasoline at stations owned or operated by Muslims, Hindus, and Christians of all kinds. We go to Jewish doctors and expect good representation from Jewish lawyers. I am willing to bet that someone of the 20,000 in the Gulch actually shop at COSTCO, despite the fact that the CEO is a Democrat. One of the very many virtues of a free market is the fact that it brings people together in mutually beneficial transactions despite their cultural differences.

    Would I buy the Venezuelan petro? No. But neither do I applaud President Trump's use of the gun to prevent others from doing so.
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