Remember, ya'll... The Obama-ites really really really adore Chavez. Wonder what they'll be doing us?
Second devaluation since 2010...
It was the first devaluation to be announced by Chavez's government since
2010, and it brought down the official value of the bolivar by 46.5pc
against the dollar. By boosting the bolivar value of Venezuela's
dollar-denominated oil sales, the change is expected to help alleviate a
difficult budget outlook for the government, which has turned increasingly
to borrowing to meet its spending obligations.
Does this sound familiar?
OS has seen this before, during his Mexican misadventure (don't ask...).
Since the government officials and their bankster and political cronies know what's going down, they make damn sure all their assets are in dollars, pound sterling, Swiss francs--lots of liquid cash in hard currencies, or even gold and silver.
Devaluations always are announced on Friday evenings. On Monday morning, thousands of businesses open their doors as bankrupt enterprises, since their debts are denominated in dollars, and their income in the local currency.
In swoop the gangstas with their liquid cash, and snarfle up the assets of the nation at about .20 on the dollar.
Isn't socialism wonderful?
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