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Related: About this forumVenezuelans Dollarize Christmas Bonuses as Bolivar Dives
http://www.bloomberg.com/news/2014-11-24/venezuelans-dollarize-christmas-bonuses-as-bolivar-dives.html?cmpid=yhooThe bolivar declined the most this month since January as Venezuelans use their Christmas bonuses to buy U.S. dollars amid the worlds fastest inflation and shortages of basic goods.
A dollar fetched a record 128.18 bolivars on the Colombian border today, compared with the official exchange rate of 6.3 bolivars, according to dolartoday.com, a rate-tracking website. The currency has lost 20 percent of its value in unofficial trading this month.
Consumer price increases and shortages of everything from cars to milk are pushing Venezuelans to buy greenbacks, said a black market currency trader in Caracas, who asked not to be named because the activity isnt legal. The trader said demand for dollars is the highest he has seen since hyperinflation in 1996.
Money supply rose 6.4 percent in the second week of November as workers received their traditional annual bonuses known as aguinaldos, according to data compiled by Bloomberg. That was the biggest increase since October 2009.
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Venezuelans Dollarize Christmas Bonuses as Bolivar Dives (Original Post)
Bacchus4.0
Nov 2014
OP
COLGATE4
(14,732 posts)1. I think it's a better than even bet that
DimSuccessor won't be Pres. of Venezuela next Xmas.
Bacchus4.0
(6,837 posts)2. Where's Weisbrot when we need him? n/t
COLGATE4
(14,732 posts)3. Working on his next article announcing
how the Bolivarian Revolution has triumphed and how all those 'facts' are just capitalist lies.
Marksman_91
(2,035 posts)4. Recently I read a tweet that the oh-so-all-knowing Weisbrot retweeted
Here's the link to it:
https://twitter.com/Dan_Beeton/status/537274532449751040
So despite all the bullshit that Mark talked about, he's now agreeing that Venezuela has serious economic problems. Guess the petro-paycheck that the Chavista regime regularly send him is starting to decline.
Bacchus4.0
(6,837 posts)5. yep he is paid
Recall the ven information office and sites like borev. Abrupt end to borev. No more funding