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| Caribbean-Latin America |
| Venezuela Launches First Nuke In Currency Wars, Devalues Currency By 46% |
| 2013-02-08 |
| While the rest of the developed world is scrambling here and there, politely prodding its central bankers to destroy their relative currencies, all the while naming said devaluation assorted names, "quantitative easing" being the most popular, here comes Venezuela and shows the banana republics of the developed world what lobbing a nuclear bomb into a currency war knife fight looks like: VENEZUELA DEVALUES FROM 4.30 TO 6.30 BOLIVARS VENEZUELA NEW CURRENCY BODY TO MANAGE DOLLAR INFLOWS CARACAS CONSUMER PRICES ROSE 3.3% IN JAN. And that, ladies and gents of Caracas, is how you just lost 46% of your purchasing power, unless of course your fiat was in gold and silver, which just jumped by about 46%. And, in case there is confusion, this is in process, and coming soon to every "developed world" banana republic near you. |
| Posted by:tipper |
| #4 "Maybe Hugo is alive" > a restaurant patron-friend of mine believes Hugo may already be dead, or else is possibly on his deathbed, which IHO explains why Cuba's pro-Hugo Uncle Fidel Castro made a sudden reappearance in the Medias a few days ago - he also opined that Hugo's passing is a great opportunity for the USA = Bammer Admin to re-establish cordial ties + trade wid Oil-State Venezuela. IHO THE US NEEDS TO HELP VENEZUELA BE SAVED FROM ITSELF LIKE CHINA-WARY BUT STARVING NORTH KOREA??? |
| Posted by: JosephMendiola 2013-02-08 18:17 |
| #3 Still not enough tho, dollars will still outflow, the black market rate for dollars is 18 bolivar. |
| Posted by: Shipman 2013-02-08 16:37 |
| #2 Damn! I can't believe they did that before the election. Maybe Hugo is alive. |
| Posted by: Shipman 2013-02-08 16:36 |
| #1 Thinking about it, how many other checks were smuggled out of Venezuela before the devaluation? |
| Posted by: tipper 2013-02-08 16:15 |