Report: Venezuela devalues ​​currency to match black market

[yota691]

Report: Venezuela devalues currency to match black market

 

 28 January 2019 09:19 PM
Mubasher: A report said the Venezuelan government has devalued its official currency to match the black market.

"The government wants the value of the local currency to go with its value traded on the black market," AFP quoted an official source as saying on Monday.

The official value of the Bolivar is 248567.75 per dollar, according to data from Fakstit.

The report comes as political tensions mount in the South American country, which also suffers from a severe economic crisis and excessive inflation.

Venezuela is suffering from a sharp devaluation of the local currency as well as surging inflation, which is expected to hit 1 million percent last year.

Last August, Caracas announced a new currency that would cancel 5 zeros from its local currency, the Bolivar, called the sovereign Bolivar.

Caracas witnessed mass demonstrations last week to demand the departure of President Nicolas Maduro amid accusations that he won this month's election fraud and fraud.

Venezuelan opposition leader Juan Guido declared himself the interim president of the country and received considerable support from the United States and several Latin American countries.

[coorslite21]

A real mess for those citizens....months ago many decided to get into an alternative currency...they were the smart ones......even today there is an exodus to alternative currencies.....although a bit late......

 

https://bitcoinist.com/venezuela-bitcoin-trading-giant-high/

 

 

[Charlie Echo]

Mexico Is Starting To Look Like Venezuela

https://www.zerohedge.com/news/2019-01-29/mexico-starting-look-venezuela 

 

At the same time, we’ve seen this rise of hardcore, self-avowed Democratic socialists in the US… and these folks want to throw more money at this broken system (without any semblance of a plan, at least not one they’ve cared to share with us).

And they’re going to pay for all of this with your tax dollars…

At this point, it’s become passé to call for confiscatory levels of taxation, more regulation and government control and the confiscation of private assets.

You’ve got the governor of California, Gavin Newsom, who wants to centrally plan housing. He wants to tax people and let the government dole out houses.

Then you’ve got de Blasio in NYC who wants to take profits out of the hands of the people that earned it… and put it right into his hands.

Of course these socialist ideas to make the rich pay their “fair share” aren’t going to fix anything.

Placing more money in the hands of the government, instead of the private sector, will only accelerate these fiscal problems.

Remember, we’ve seen how socialist governments fix problems in Venezuela and Mexico. Do you think the result will be any different in the US?

And to continue learning how to ensure you thrive no matter what happens next in the world, I encourage you to download our free Perfect Plan B Guide.