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Today I was reading to try to understand the current situation of the country and I found a sentence in an editorial called Amindra which reflects a very interesting sentence that says "the BCV dollar is not a cup, it is a disguise to divide the people and hide the fact that they emptied the vaults".
A rather interesting and surely quite delicate information also stresses that in Venezuela a bread flour can cost $1.50, that is the real price of the parallel market, this is the one that dictates the daily life although the president's narrative denies it.
Here a trader is required to mark that price in bolivars but not with the Venezuelan central bank rate as if that were any real backing so the trick here is very simple;
- Real market price: $1.50
- Parallel dollar rate: Bs. 122
- Multiplication: $1.50 × 122 = Bs. 183
But since you must invoice using the official BCV rate (Bs. 97.31), divide the total:
- Bs. 183 ÷ 97,31 = 1,88
That is to say, with the invoice they make us see that this product costs $1.88 at the official rate when in reality the price is still the same parallel dollar makes up the calculation but not its value and this is how the regime is laundering the price but not the product and every merchant and business owner can continue selling at a parallel price while pretending to comply with the law, this is why fair price lists are no longer published. Because the majority of the businesses are not foreign, the majority of these are their own.
It is there where we can notice that those lists do not suit them because they would make evident the overpricing in their own stores so publishing them would be like shooting themselves in the foot and instead of controlling the prices now they control the narrative they prefer to hide the abuse behind a magic formula that nobody understands and little dare to question.
The reserves are empty, the BCV vaults were emptied in silence, while the country looked elsewhere.
The answer is that it is not managed by a technician but by a woman who is the aunt of the current president and who was placed as president of the Venezuelan central bank more for family ties than for merit, where an exchange control that in normal countries is something temporary here in Venezuela has been in place for more than 25 years, something that began as an emergency measure has become a power structure and theft, what used to be used to protect reserves is now used to simulate control while they loot what little is left.
But the most astute move of this regime is no longer in the shelves but in the mind of the citizen since nowadays selling $1 in physical dollars is scary for sure you will wonder how this is possible because due to the inflation and the economic crisis that has been going on for some years with the same shortage of cash this has been one of the ways in which the Venezuelan people have sustained an economy buying and selling dollars in cash obviously obtaining a percentage in each purchase and in each sale so that currently doing so is scary because no one knows if you are in front of a customer a tax or a trap because the regime does not control prices controls is the rate and with it sows distrust and confrontation among Venezuelans and the saddest of all this is the confusion because many people believe that pay official rate is to receive a benefit as if that preferential dollar still exists.
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While you do the math to buy flour, they turn hunger into a bubble and the dollar into a curtain for the floor.
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