Venezuela

Oil-rich Venezuela is abandoning the US petrodollar, plans to introduce new international payment system

In an address to a new legislative superbody, Maduro said:

“I am announcing that Venezuela intends to introduce a new international payment system and to create a currency basket for the liberation from the dollar and, [we intend] to free ourselves from the clutches of the dollar, the currency that is strangling our country.”

Disaster Relief: Capitalism and Socialism

In human society, there is no such thing as a purely “natural” disaster. While storms, flooding, landslides and other emergencies are in some sense “acts of nature,” we cannot fully separate the natural event itself from the social context in which it occurs. In the United States, the capitalist system worsens and profits off of disasters, whereas in socialist China, a robust response system based on human need lessens the impact of disasters. This can be seen clearly by comparing relief efforts in the U.S. and China, as well as other socialist countries.