Re: [Venezuela]

Subject: Re: [Venezuela]
From: (JAB)
Newsgroups: dictator.america
Date: Aug 07 2018 04:19:16
On Sun, 5 Aug 2018 18:45:45 -0400, NewsBeanie
<> wrote:


Price Of Gold In Venezuela Right Now

Last month in Venezuela’s capital city of Caracas, a cup of coffee
would have set you back 2 million bolivars. That’s up from only 2,300
bolivars 12 months ago, meaning the price of a cup of joe has jumped
nearly 87,000 percent, according to Bloomberg’s Café Con Leche Index.
And you thought Starbucks was expensive.
So where does this put gold? At some point, hyperinflation gets so
ludicrously out of control that discussing exchange rates becomes
pointless. But as of July 30, an ounce of the yellow metal would have
gone for 211 million bolivars—an increase of more than 3.1 million
percent from just the beginning of the year
Venezuela’s Once Prosperous Economy Destroyed by Corruption and

But back to Venezuela. Amid the corruption and mismanagement, the only
thing helping the country pay its bills right now is gold. Two years
ago, it had the world’s 16th largest gold reserves. Today it stands at
number 26 as it’s sold off more than half its holdings since 2010.
While countries such as China and Russia continue to add to their
holdings, Venezuela has been the world’s largest seller of gold for
the past two years.
Their escape is no easy task, as numerous international airlines,
citing rampant crime and a lack of electricity, have canceled all
flights in and out of Caracas. The only U.S. carrier still operating
in the country is American Airlines, which offers a single daily
flight from the nation’s capital to Miami. Just two years ago, there
were as many as 40 nonstop American flights, not to mention those of
rival carriers, between the two cities--a sign of just how dramatic
and swift Maduro’s mismanagement has been in crippling Venezuela’s
once-robust economy.

Date Subject  Author
05.08. * [Venezuela] Maduro survives assassination by droneNewsBeanie
07.08. `- Re: [Venezuela]JAB

This forum property of The Dictator's Handbook. Please read our charter.