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La Patilla (2015) | We’ve arrived / 4. Dolarization

Inflation is the most unfair of all taxes. It causes terrible damage to the economy and is particularly harmful to the less privileged citizens. It limits growth and the creation of wealth and is essentially preventable. The main cause of inflation is excessive money supply, and has always been. The

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La Patilla (2015) | We’ve arrived / 3. Privatization of all state enterprises

One of the many peculiar characteristics of Venezuela is that it is a nation in which the government does not depend on its citizens but rather the citizens depend on the government. Normally, governments must tax citizens in order to function because they are service institutions whose activities do not

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La Patilla (2015) | We’ve arrived / 2. Return to the Rule of Law

I graduated from the Andrés Bello Catholic University Law School in 1967. Although banking has been my vocation and profession, law is the foundation of my training. Every society is based on rules that enable citizens to live in peace, harmony and prosperity. The more developed and prosperous nations are

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La Patilla (2015) | We’ve arrived / 1. Restitution of Private Property

Private ownership is an essential factor in the proper development of societies. There’s a direct connection between the prosperity and welfare of nations and the protection of private property. Private property rights are essential for freedom to exist. Steps 1.1 A nation-wide campaign followed by actions to secure ownership of

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La Patilla (2015) | We’ve arrived

All the disasters that were announced long ago have converged, and then some.  In late December, the Venezuelan government staged a coup d’etat against the Constitution by “appointing” officials and magistrates. The drop in oil prices has magnified the situation. The time has come to think forward. The tragedy is

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La Patilla (2014) | Don Emilio Botín

El 9 de septiembre falleció en España don Emilio Botín, presidente del Banco Santander durante más de tres décadas. Fue un banquero exitoso, que convirtió el banco regional que habían presidido antes su padre y su abuelo en una potencia mundial. En el obituario que publicó el diario The Times

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El Universal (2014) | Justo ahora

Los anaqueles están vacíos. Las líneas aéreas no llegan a Venezuela. Las medicinas brillan por su ausencia. Las ensambladoras no ensamblan y podríamos seguir. Oímos en una cadena que hay empresas del estado que tienen más de cinco años dando pérdidas y en otra cadena que están dadas las condiciones

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El Universal (2014) | La banca

Recientemente leí en un análisis de la situación económica y política del país, que uno de los sectores que sobrevivía era la banca. El razonamiento era que sus operaciones son en bolívares y que pagan poco por los depósitos y cobran por los préstamos lo que les permite realizar una

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