| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
FSN: Secretive Devaluations: Government Bails Out Of Its Own Currency Ahead Of The Citizenry
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
by Tekoa Da Silva
Bull Market Thinking
I came across an interesting story yesterday, translated from a Caracas-based news publication. It indicated that for the second time in only five weeks, the Venezuelan government has devalued its currency.
Unlike the first devaluation however, the second was done behind closed doors with local financial interests placing bids on dollar exchange transactions ahead of the country’s citizenry.
Caracas reporter Víctor Salmerón states that, “Two devaluations have been implemented in the last five weeks so as to obtain more bolivars per petrodollars…the forex rate was cut [devalued] by 46.5% from VEB 4.30 to VEB 6.30 per US dollar.”
Continue Reading at BullMarketThinking.com…
2013-04-03 14:02:40
Source:
