Venezuela devalues currency…for the most part.
Team Competitive devaluation scores another touchdown
Notice all goods need not apply
Talk about giving the black market a shot in the arm!
Many Venezuelans wishing they had owned gold
Chavez says military will monitor Venezuelan prices
Lock-Limit-Down, great post! I just commented on rickets’ thread “New Financial Risk”, which was the first I’d seen of the Venezuelan currency devaluation. Then I saw that you’d caught and posted on it as well here! I think your thread may have gotten buried by more recent comments on others’ threads, because this is definitely interesting (and discomfiting) stuff.
I think your right about them wishing they’d owned gold as well.
When the dollar devalues 50 percent does that mean the Venezualan currency devalues 75 percent? Chavez better start shipping us some more oil!