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Dollar triumphs in socialist hellhole,
rescuing high quality producers

Original Article

Posted By: PageTurner, 4/16/2021 9:22:41 AM

What's doing in socialist hellhole Venezuela these days? Bloomberg has a credible story about how its bond market is going, beginning with this lovely headline: In Venezuela Bond Market, Gunmen and Bags of Cash Are Required ...and lede: In what is perhaps the tiniest and almost certainly the most primitive bond market in the world, default isn’t the greatest risk that investors face. Mugging is. This market can be found in Caracas, Venezuela, where the socialist government of President Nicolas Maduro is ever so slowly freeing up the battered economy to allow the kinds of capitalist ventures it had long banned. As part of the overhaul, the U.S. dollar is now the de facto currency

Comments:

Venezuelan rum is still worth paying good money for.

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Reply 1 - Posted by: bad-hair 4/16/2021 10:13:54 AM (No. 756687)
It's still feudalism. If the elites like your stuff your company survives. Otherwise you're SOL. For example the local purveyor of chocolate to Her Majesty the Queen and the Royal Family.
3 people like this.

Reply 2 - Posted by: Proud Texan 4/16/2021 12:18:58 PM (No. 756852)
Well Biden and the will stop this "dollar triumph" nonsense when the ridiculous spending gets inflation revved up and the dollar's value starts dropping like a rock,.
2 people like this.

Reply 3 - Posted by: Strike3 4/16/2021 6:43:06 PM (No. 757202)
Great, when the value of the dollar goes to zero under Joe and the Ho's stewardship, our two countries can go down together - like twins.
0 people like this.

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