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hyperinflation
Venezuelan Economic Slump To Deepen As Economy Is Crashing 9% And Inflation Over 1,000%: Barclays
The situation in Venezuela is bad, and things are going from bad to worse — as we have highlighted and warned about repeatedly — amid the tumble in the price of global oil, a plunge in the nation’s currency and reserve currencies, consumer goods shortages, hyperinflation, a selloff in emerging markets, a global market selloff. You get the picture. Last … Continue reading
Venezuela: Risks Of Default And Social Unrest Grow Amid Hyperinflation
In Venezuela, things are going from bad to worse amid a tumble in the price of global oil, a plunge in the nation’s currency, consumer goods shortages, and hyperinflation combined with a social and political upheaval which could undermine the country’s willingness or ability to pay its external debt, Jefferies warns. Venezuela relies heavily on oil, as it accounts for … Continue reading
No End In Sight For Venezuela’s Currency Plunge As Risk Of Default Grows Closer
The OPEC nation of Venezuela has long been home to the world’s highest inflation rate, and now the nation is set to become the site of the 57th hyperinflation event in modern recorded history, says Steve Hanke, professor of applied economics at Johns Hopkins University, Bloomberg reports. As Venezuela’s currency has plunged 32 percent over the past month … Continue reading
Venezuela’s Unofficial Exchange Rate Has Plunged 65% This Year, Breaks Through 500 Per Dollar To Record Low
The unofficial exchange rate in Venezuela has broken through 500 bolivars per dollar to reach a new record low on Friday, according to DolarToday. The unofficial exchange rate in Venezuela has broken through 500 bolivars per dollar to reach a new record low on Friday, according to DolarToday, the most popular exchange rate reference website in Venezuela, … Continue reading
Zimbabwe Phases Out Local Currency At 35 Quadrillion To US$1
Zimbabwe has started retiring its almost worthless local currency in favor of the US dollar. Today, 35 quadrillion Zimbabwean dollars are equal to US $1, as a result of hyperinflation which hit the country in 2009. The demonetization process of the Zimbabwe dollar started on Monday and will run till September 30. People with accounts … Continue reading
The War On Petrocurrencies
By Gulam Asgar Mitha U.S. Secretary of State Hillary Clinton in 2007 had supposedly asked ex-Australian Prime Minister Kevin Rudd “how do you get tough on your banker?.” This was over concerns about China’s growing power and hold on U.S. finances. According to Wikileaks, Rudd told Clinton to keep force as a last resort. Do … Continue reading
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