Hugo Chavez just cut the value of Venezuela's currency in half. Now that's change you better believe in.
http://online.wsj.com/article/...ories
Coming soon to a country near you, currency devaluation!
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themadscientist
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themadscientist
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Re: Coming soon to a country near you, currency devaluation! (seang)
I may be wrong, but he be crazy. He halves the value of the money, then restricts businesses ability to adjust their prices to reflect that. Watch it unfold folks, this is command economy at work and if you think it's not on the way to your town, you better wake up.http://www.bloomberg.com/apps/...qdrdM
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audtatious
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Re: Coming soon to a country near you, currency devaluation! (themadscientist)
Shouldn't this technically lower the cost of oil that we buy from them?
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themadscientist
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smockers83
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Re: Coming soon to a country near you, currency devaluation! (audtatious)
Not necessarily as oil is traded internationally in dollars. Every other product from Venezuela, sure.audtatious wrote:Shouldn't this technically lower the cost of oil that we buy from them?