Investing in precious metals 101

Venezuela devalues currency…for the most part.

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  • Mon, Jan 11, 2010 - 11:34am

    #1
    locklimitdown

    locklimitdown

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    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

http://www.cnn.com/2010/WORLD/americas/01/10/venezuela.chavez.devaluation/index.html

  • Tue, Jan 12, 2010 - 02:22am

    #2
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Venezuela devalues currency…for the most part.

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.

  • Tue, Jan 12, 2010 - 04:38am

    #3
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Venezuela devalues currency…for the most part.

When the dollar devalues 50 percent does that mean the Venezualan currency devalues 75 percent?  Chavez better start shipping us some more oil!Undecided

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